Thursday evening - T2108

% stocks above 40dma

This is Worden's T2108 indicator.  The good news is that it is getting down into extreme territory.  The bad news is that this is merely a measure of oversoldness ... and things can always get more oversold.

Just so I can appear clairvoyant if it happens .. the Fed likes to pull free money out of its arse on oversold Friday expiration mornings.  I don't think they have any tricks left up there, but they might try something anyway.

Thursday afternoon

Dip Buyer

There is never any reason to buy a stock that's going down.

Thursday Morning

Gator's Chart of the Day: FIO 

I can't say it's pretty but it is testing support.   So far it is holding and as long as it stays above 21.35 it looks like a good place to take a small position.  The overall market looks pretty weak here so if the stock breaks support (say below 21.30) I say dump it and look for it to stabilize closer to 18. 

Long term I think this is a company that will do very well on it's own and will be (already is) a takeover target.