Blog description
- Rodney
- 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.
Monday, February 25, 2008
Triangle's still intact
Friday the market blasted up off its lows the last 30 minutes of trading to get back into the triangle. It apears the a big rumour of an Ambac bailout was timely released on CNBC. If you don't smell a rat here you've got a pin on your nose or some analgesic for congestion. The only thing going on is a big fat BULL TRAP. Yes the market may go higer for a few days, but the bottom line is that a 1.5% move in thirty minutes is a non-sustainable move based on heresay. I say Patience and Put entries on tops of market up moves will pay as the overall downward trend is still the predominant force.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment