Falling Knife

Cisco Systems (CSCO) is what we call a falling knife stock today by declining more than 10.0 percent on the session and trading at fresh new lows on the day. This stock is under severe selling pressure. However, the $19.00 area is a very attractive area for a small intra-day scalp bounce. Should the overall market remain weak and decline further the weak stocks such as CSCO could trade lower.

About Nicholas Santiago 576 Articles

Affiliation: InTheMoneyStocks.com

Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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