Thursday, January 20, 2011

Support Buying Talk

The best support buys are the ones in which multiple stocks within the same sector hit at the same time.  This makes the success rate go up exponentially compared to a singular stock hitting support.    Gold a good example today as three of the major stocks in the sector all hit support and bounced today.  We think this will be a short term bottom in gold.

ABX BVN AEM  all hit major support today.