News Report: I’m Going Down
News events drive price, but in which direction? When you sit back and assess
the first hour, there is a method that will help to determine that. News, in most
cases, will either fuel a momentum move, or gap higher or lower, then reverse.
10:07:23
Intraday Setup Alert
Southwest Bancorp of Texas (SWBT)
is moving in a counter trend rally off the intraday low. SWBT is down 2.31
to 28.50 amid the downgrading of the regional banks Monday morning.
The stock does not gap lower, but instead just continues to
slide. The prudent play here is to look for a pullback or a consolidation, then
a continuation move.
News is not mystical, it just entails stepping back and looking
at the situation, then proceeding according to market action.
Until tomorrow,