well, im sorry but i have been following his charts on the weekend charting thread and i dont like his analysis. doesnt fit with mine and i cant see him using anything else but pitchforks. i ignore his interpretation of charts simply because i dont see anything of value in them.
to suggest that someone should reconsider their position in a stock because of his analysis is just plain wrong. also, the way he summed up his opinion on the chart tells me he trades what he wants to happen and not what he sees in a chart which in my view is wrong. no one has a crystal ball and the weight of evidence that charts provide should be used to manage risk and money and not to try and see the future. there are many ways of using tech analysis to interpret a stock and as far as im concerned his is not as strong as many others on hc and otherwise.
his opinion on BMN is very strong to the downside. he may be right or he may be wrong but only time will tell. he says he is immediatley concerned when he sees the chart. well, i dont see why.
this stock has been making higher lows since march and trending up. trendlines are dynamic so this means that trends change. i see it is on a support line at the moment and needs to bounce around these levels. he has failed to observe this. stochastics oversold and looking to cross. little bit more volume last couple of sessions. sp has bounced off of 1.18 so this price has acted as a short-term low recently.
to cut a long story short we are at a pivotal time. it either bounces here or i get stopped out. it can go either way still.
BMN Price at posting:
$1.18 Sentiment: None Disclosure: Held
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