Tuesday, June 5, 2007

Update ADM

Apparently, ADM found near term support simultaneously at the 38% fibonacci retracement and the February 1st gap up. Regardless, the stock is still in a marked downtrend during a bull market and this guy continually rates the stock as a triple sell. While I infrequently rely in Cramers haphazard stock picking, his influence shouldn't be completely ignored. These developments lead me to believe that the support ADM found will be short lived.

No comments: