breakout imminent?, page-18

Low volume going south is better than high volume but still insipid action like a lot of stocks today. Candle wise Intra day trading has produced a Gravestone Doji that reflects the obvious lol. Its bearish. PRR needs positive news if its to break significantly North imo. That person trying to sell 599472 shares at 18.5 not having much luck so far and its a stumbling block.

I actually believe (with some caution) that the Nomura research report was timely as a portend of some positive news to come from PRR whether its Nasdaq or something else. Time will tell whether I have misjudged the situation.

Europe is still impacting markets and news is that the leader of Greece's Conservative Party wont sign off on the austerity measures. Its unbelievable.

On a more positive note I saw Warren Buffett being interviewed and he has been buying billions in US equities including IBM. He made the point that he believes things are on the improve and when queried why the general public sentiment runs counter to that view, he said to the effect that the public sentiment usually runs well behind the actual economic position and sentiment should begin to change. At least thats how I interpreted what he said. I hope he right.

If anyone wants to have an afternoon nap, just focus on the PRR depth screen and you will soon be snoring lol.

cheers