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Thursday, April 21, 2011

NEU

NEU is a member of the earnings list and a sometime leader that is very likely to be on the leadership again this weekend. The most recent pullback was about exactly a 50% retracement between pivot points, depending upon where you put them. I have sometimes put them on the top boundary of a gap, but in this case that didn't fit. That is one of the problems you have with chart analysis, there are no real "rules", so you are pretty much on your own in trying to decipher them. Not that it matters that much here; the pullback was way too close to earnings to be a good entry point.

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