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A place for friends to gather and view stock market charts, discuss technical analysis and market outlook. What is your Principal Asset? How can it be developed? Each and all should do their own due dilligence and homework before investing. And by no means should you use anything I say or show here as a sole basis to buy or sell securities as everything is for educational experience only.

Wednesday, May 20, 2009

PM


A waiting game here on PM as like the overall market it appears to be topping out. Lines in the sand on the way back down are 39.28 and 36.26. PM has gotten ahead of itself and a pullback to the 200 day EMA will just revitalize the BULLS as the 20 & 50 Day EMA's continue to rise to the 200 day ema which is currently at 40.75. And as the last post of the Pivots shows the Monthly R2 resides at 40.58 which will also act as support on the way back down.
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