Discussion in 'Stocks' started by efficiency, May 13, 2011.

  1. Dresser Rand (DRC) is a short.

    April 29th hit an all time high of $55.88 (55 7/8) and yet also hit an intra-day low of $51.67.

    High came first. That could be referred to as a bull trap. Or...exhaustion.

    Broke the potent $50 round number on May 3rd.

    Chart would suggest finding support at $42

    Point & figure count suggests $38

    Presently $47 1/4

    Oh, Dresser doesn't "have" those abundant Ingersol Rand air compressers, just dark orange metal cheaper..........oops, I mean less expensive than CAT or Deere.
  2. Hit 45.56 (45 5/8) this morning.

    Presently 46.37 (46 3/8)

    Yeah, I know, 4 days is a "long" time.

    Psst, 60 days is ever longer.
  3. Oh oh, counter-move. Across the board, but TRIN is 1.03. Weak volumewise.

    DRC presently, $47.80

    Trend's still down.
  4. Proved wrong (again). Covered when it pierced $50. Closed at $51.67.

    Appears the ax replenished his inventory in the high 40's. That isn't necesarily bullish now.