Jim said:
You haven't commented on BOOM in a while. Mind throwing me a bone on BOOM?
I think BOOM is done. It's had a helluva run over the last 18 months. Even after the 38% drop from the recent highs it's up about 1,350% since November of 2004. But as the weekly chart shows it just broke a long term trendline. Even worse, it's been climbing on decreasing volume.
The daily chart shows that BOOM is trying to bounce off of December's gap and that it's very oversold. I think a bounce is likely but I'd be looking for a spot, preferably near the blue trendline, to short the rally.
