Ut oh... This looks all too familiar |
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By M.E.Garza |
Wednesday, 08 July 2009 03:54 |
Already faced with the unemployment rate rising, retailers are bracing for some more ugly sales numbers and the commercial real estate crisis shadow is growing and threatening to hit hard as it errupts into it's own ugly mess. Coming on the heels of the housing crisis, many think that could become the catalyst to a "double bottom" correction pattern which "must occur for us to finally start to recover fully." Technical analysis gurus might argue that all of that stuff is noise, but they should have cause for concern as they look at the S&P500 chart today. During yesterday's session, a key support level was pierced and things aren't looking good. Anxiety over the start of the earnings season has even dampened optimism.
If there is a downward move coming, then the extent of the breakout move can be estimated by measuring from the top of the middle peak down to the neckline. This targetcan usually be projected downwards from the point of breakout. Keep your eyes on the trading action short term. The good news is that this site was launched after some of us realized that the biomedical sector showed great resolve as the rest of the market was falling apart. The founders of this site looked at their own portfolios last year and realized that most of their biggest trades developed successfully thanks to being informed about biotech. That means having good, reliable information about not only good up-and-coming companies, but also arming yourself with knowledge of important catalyst events- like upcoming FDA decisions and approvals- which undoubtedly have an impact on the price of shares. Where some sectors have been flat, biotech has had volatility. Market analysis and knowledge about the science of this sector is key to decoding the signs this sector gives us. Our job is to continue to provide you all of those things because all of those tools can provide you with critical "smarts" that will help you make money - even in down markets. A very sound, analytical approach to successful biotech investing is within reach, but one must actively conduct research and have access to the right tools. Stay tuned. Special Thanks To: incrediblecharts.com and chartpatterns.com "Featured Content" profiles are meant to provide awareness of these companies to investors in the small-cap and growth equity community and should not in any way come across as a recommendation to buy, sell or hold these securities. BiomedReports is not paid or compensated by newswires to disseminate or report news and developments about publicly traded companies, but may from time to time receive compensation for advertising, data, analytics and investor relation services from various entities and firms. Full disclosures should be read in the 'About Us Section'. Add this page to your favorite Social Bookmarking websites ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |