It is funny to hear the “fanboys” of any stock who defend the “great company” during horrific, equity destroying declines. Recently, some of the best examples are coal companies (I had people asking me where to buy WLT the entire way from 80 or so down to the day of their bankruptcy) the 3D printing stocks, Alibaba and of course.. TWTR
I post this only to reiterate a point I make so often.. The direction of the 50 day moving average is more important than one or two closes above or below it. Look below at the chart of TWTR, as Trump would say “it’s a disaster!” When the 50 DMA is declining, there is simply no reason to buy.
