Its a beautiful day.....
posted on
Nov 27, 2017 09:46PM
That's the message the Pastor at my church often delivers, especially when the weather outside is spectacular...."What a beautiful day it is today"!!!
But then he'll walk over to one side of the chancel and say: "It it doesn't rain".
His point is that there are always those, who no matter how good things are, they love to find an excuse to inject some misery.
Technically the chart has moved into overbought territory. Overbought means that a correction may very well be in the cards. I base that opinion on where Stochastics are, the fast stochastic just crossed over the slow over the 80 mark with the fast line pointing down. MACD however shows a bullish cross above the 0 line, so I do see reason for optimism.
Its almost like weather forecasting....storm fronts and pressure channels converging, even the forecasters aren't sure. "Partly sunny with a chance of partly cloudy".
Beacon has only shown up for 3 days by my read, and they've bought a little over 45,000 shares. I count the total trading at 397,374 shares over those 3 days, including both lit and dark pool exchanges. That puts Beacon at about 11% of the overall trading, and doesn't allow that they could be behind some of the dark pool or anonymous trading, if so then it would be higher.
Tomorrow? We shall see what it brings.....but today and the last week have been spectacular.
A little rain? Meh...showers of blessings. Misery might love company, but I'm gonna ignore the merchants of gloom. I still own more than Beacon does (at least according the numbers I have available), but I don't think that will be the case by the end of the week.