There are several flags going up on this one, and it’s time to think about taking my loss while it’s still small. The flags are as follows:
- I’ve held for over 2 weeks without a big volume move higher
- It has hovered just above the PoLR, but closed below it, and stayed below it this week
- It also closed, and stayed, below the 20-day MA
- It’s RS within the Technology sector has been decreasing
- The Technology sector’s RS is still underperforming the SPX
When I first bought, I acknowledged the concern with the last 2 bullets. But, since then, the first 3 have stacked up against it too. The only not so bad thing is the pullback below the PoLR and 20-day has been on little volume. If I don’t see a recovery on increasing volume early next week, I’ll probably take the loss on this one since the odds are starting to stack against me.
