tag:blogger.com,1999:blog-2335748440449035592.post4298483787255732324..comments2008-11-19T12:03:49.168-05:00TraderMarkhttp://www.blogger.com/profile/06241756200482130281noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2335748440449035592.post-13236976968482317772008-11-19T12:03:00.000-05:002008-11-19T12:03:00.000-05:00Here are my comments. 1. Bear markets kick 'em all down, and when we see adv/dec ratios as bearish as ever, odds are bad if you own ANY stocks... cash is king and has been for a while. <BR/><BR/>2. When recently blogged, NUVA had rallied above its 50-day moving average line, true... but the volume conviction behind its climb was drying up, revealing a lack of buying demand from institutional investors - demand which is needed for any sustained rally. Technically, it had (then) formed a series of "lower highs", and any smart chart reader would be worried about going long any stock showing that downward trend. <BR/><BR/>3. Today's massive loss on heavy volume has it (now) testing its old chart lows in the low $30 range. That could be a floor, true, but your worst enemy now is that almost everyone who bought it after August 2007 it is upside down in it, making them anxious to sell. That "overhead supply" will act as resistance, making NUVA unlikely to be a top performing stock any time soon.Kenneth J. Gruneisenhttp://www.blogger.com/profile/07932951033069419788noreply@blogger.com