Trend-Following Moron, Jr.
I am a lot like our resident swing-trading guru, Dave Landry. If you follow
the big blue arrows, you tend to not buy into the hype you see on TV,
and see what is really there.
15:40:57
Beazer Homes (BZH)
is bouncing down from the 20-day moving average after a counter trend rally.
BZH is down 2.67 to 64.95 and is carrying a
3-month relative strength rank of 18 with a downtrending ADX of 38 from
TradingMarkets.com.
Today the stock has started to trigger out of the pattern,
giving you an edge by trading with the trend.
Of course, you will be wrong when the trend reverses, but many
times there will not be a trade, since the previous low will not be breached.
This is yet another factor in support of following the arrows.
Until tomorrow,