They say that markets climb a wall of worry and that they slide down a slope of hope. I wanted to have a closer look at USG today. The stock that rose from the dead a few years ago only to lull people into a love affair with it, all the while sliding down that slope of hope. I am showing this chart for all those people who are listening to the financial media as to what to do. Please remember when this stock was up around $120 it was in the news and on the tube, day in and day out.
I ask you when is the last time you heard about it? Every waterfall drop was met with a short lived low volume consolidations and more 'smart money' selling. Each time the pundits on TV told you to hang on. By the time they move on to the next hot idea, and they always do, the viewer is left holding the bag. Now some of you are saying it can't happen to 'the market'. All I can say is I heard it all thru the tech bubble. yet the Naz fell from 5100 to 1100 in 18 months. History is replete with examples like this, Japan in 1990, Gold in 1980, etc. Don't fall victim to the spin machine. Good trading to you.