Trader's Logbook

With the news dying down as quickly as when MVP said that “they are on again” (MVP – GMA, sometimes on, sometimes off) the stock is still trending sideways. Last time we checked on this stock until now it has been trading on the 23.6% Fibonacci Retracement level with a bias of going down. RSI below 30 indicating that it is oversold but volume is so thin. Maybe speculators are used up with the GMA-TV5 rumor. Maybe someone broke the switch at the “off” position? Caveat!