DIG the double bottom

Discussion in 'Stocks' started by fantastic4, Dec 28, 2008.

  1. Well, I'm curious about the double bottom on DIG. Looks like some buyers stepping in both time when DIG tried to break support. It's a bit sloppy, and I'm not sure where to look for a break out. Any advice? Opinions? My target would be to monitor when nearing the fifty fib area.

    I still think people in general hold a lot of value in oil. Hey even poor rubber tree farmers in Thailand and very confident that the price of rubber will return. Rubber tends to be influenced by oil, because higher oil means less synthetic rubber will be produced.

    I guess my point with that is that in general the oil is under valued in the minds of the average person right now. So any rally could find some buying support by people wanting to get in while it's still cheap.

    Can you tell I'm a newbie yet?
  2. To me, it seems that it is forming a wedge, as most of the other stocks and indexes. We will have to see which side it breaks.
  3. That looks about right as well. Thanks for the chart.
  4. Well, it just really followed the market didn't it? I used a thirty minute gap strategy with my paper trading account. That kept me from losing some money.
  5. Wow, Did gave a good entry when it traded over the thirty minute high on Monday from the gap up. Could I have made that sentence more confusing?