Falling Knife? Not usually a great idea to get involved with falling knives, but from what I see on my 3C chart (blue) and from the looks of the volume, I have a gut feeling that something is brewing here. The 3C chart is showing a very nice looking positive divergence in the "trade" time frame-like a swing trade. I don't know about anything longer (investment), but for my taste, this is about right-except for the falling knife part, but we get paid to take risk-just not too much.
I already had a small position in MGM, which has been taking a pounding, but I just started to really buy this am around $49.55 and $49.40. I'll wait to see how she reacts before adding any more, but I'm now at a full (regular size) position.
Have a look for yourself and draw your own conclusions.
Wednesday, April 16, 2008
MGM
Posted by Brandt at 12:45 PM
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