Ordinarily you look at action like this from yesterday’s hot stocks and you see a buy signal.
A clearly defined horizontal line. A big breakout. Clear buy signal.
But then you look at the big picture.
Who wants to commit capital for a possible gain of 6 or 7 points? In the present economic climate we consider it highly unlikely that GIS could take out its old high and make the trade worthwhile.
We need a little more grist than that for our mills.