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#21 SemiBizz

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Posted 02 May 2008 - 12:33 PM

this looks like a light volume prop job(read bull bait) for the next leg down setting up to me, I could be wrong, but volume is saying down we go here.... I'm still waiting to see upside volume. We do have a candle trend change here on light volume reversing previous sell signal. (3 min)

Edited by SemiBizz, 02 May 2008 - 12:34 PM.

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#22 SemiBizz

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Posted 02 May 2008 - 12:47 PM

I see lots of markup for not much volume... setting stops though.
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#23 hawkeyefan

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Posted 02 May 2008 - 12:47 PM

It is Friday and there may not be a lot of volume. Most people have missed this move up. I don't mean you guys. Presently I think people will be buying any dip here because they want to be long and are not.

#24 beta

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Posted 02 May 2008 - 12:48 PM

I think Hiker is right here s/t -- possibly another run up to the highs, or a lower high.
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#25 hiker

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Posted 02 May 2008 - 12:51 PM

price is right! I am not even expressing an opinion...only making a neutral observation about price vs. a downtrend line that has failed until proven otherwise.
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#26 beta

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Posted 02 May 2008 - 12:56 PM

... OK, 1414 is KEY here. Good pivot to short @ 1411, with 1414 stop.

Edited by beta, 02 May 2008 - 12:57 PM.

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#27 TheArchitect

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Posted 02 May 2008 - 01:03 PM

price is right!

I am not even expressing an opinion...only making a neutral observation about price vs. a downtrend line that has failed until proven otherwise.


not to butt in here... but as of right now... i have price back below the broken downtrend line (actually large channel)... just barely... also note todays top right at the underside of a 200 SMA... :huh:

http://stockcharts.c...5811&r=7405.png

#28 hiker

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Posted 02 May 2008 - 01:06 PM

A - I am talking about the SPX d/t line.
why is it important to wear sunglasses, even on cloudy days?

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#29 SemiBizz

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Posted 02 May 2008 - 01:08 PM

Big gap down here on 3 min w/ volume, I guess I should have the TV on...
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#30 NAV

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Posted 02 May 2008 - 01:08 PM

price is right!

I am not even expressing an opinion...only making a neutral observation about price vs. a downtrend line that has failed until proven otherwise.


Yes, price is always right. Current price is always a fact. But tell me how does that help me make money. One has to extrapolate the future price movement based on the current price structure and place their bets. That's what is gonna make me money. Now tell me should i place my bets on the downside or upside to make money over the next few hours.

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