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Thursday, November 12, 2009


Many people have nailed Cosco to the coffin lately and think that it will fall to 90cents in no time. One of my remisiers has even recommended to short this counter two days ago at $1.05. However, Cosco is one of the 187 gainers who buck the trend today and broke a sleep down trendline with substantial volume. While I am not saying it is out of the wood yet (unless it continues to edge up and break the flatter down trendline), the momentum indicator and MACD have certainly show signs where the bull is struggling to fight back. The bull will gain back its power only if prices break above $1.2, which is the flatter down trendline !
PS: Most of my posts tend to provide very early alert versus many renowned trainers in the market, which tend to provide hindsight view as a teaser for their courses. The trade off is the probability as technical analysis is not infallible.