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Don't Let A Shakeout Scare You.(A)(INVESTOR'S CORNER)
Byline: JONAH KERI
As we've noted again and again in this series of Investor's Corners, bases reflect investor psychology. The market's optimism and pessimism, fear and greed go into every stock's base. Rarely is that truer than in a shakeout.
A shakeout occurs when a stock, acting calmly for several weeks or months, suddenly stages a sharp, brief correction.
A base often starts with a stock selling off sharply as it forms its left side. That sell-off prompts many of the stock's weak holders to sell. But some folks might try to hang onto a stock through much of its base. That's when you need a later shakeout.
A nasty decline over a day or two can eject the last few stragglers. Such a shakeout typically occurs in the late stages of a base or in the handle, clearing the decks for a powerful breakout.
That's not to say a shakeout will occur in a vacuum. Negative rumors, opinions or speculation may prompt that day of selling.
Of course, if you've read IBD long enough, you know that opinions and gossip only cloud your judgment.
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