3 replies to this topic

[TheArchitect]

end of day we broke through a 3/4 big vol resistance on GOOD down volume... i thought the good short setup was at 42.80ish... and i still believe it is... as Semi would say... we're in the high vol candle (on the hourly) that without a surge in buying tomorrow will suck us right down... 42.20ish... and as the chart tells... we also broke back down through the downtrend line that was broken yesterday on nothing more than some Fed injection BS... and basically... without posting a daily chart... you'll see how we once again back kissed the uptrend line from 1/22...

oh... and fwiw... if your playing options here... it may be better in the short term to sell those march calls rather than buy those march puts...


http://stockcharts.c...4926&r=2334.png

[StillLearnin]

TA, I like your charts. You often see stuff I don't and that is what this board is about...I'll keep this in mind. Thanks, SL

[TheArchitect]

TA,

I like your charts. You often see stuff I don't and that is what this board is about...I'll keep this in mind.

Thanks,

SL

SL... just watch the momentum w/ respect to that downtrend line... nobody's called me out on it yet... but they may...because of that breach around the last 4 days of Feb... that breach doesn't count... that was BS gasparino talk that moved price above it... and as you see... the natural market geometry brought us back into equilibrium below it... thats the line in play... for now... thats IT... watch price close above it and watch me change my position... (on an hourly)... unless we hear some BS garbage come out before open tomorrow... then play that line... don't fade it... fwiw...

[hadman]

Thanks for the chart.

heres another view of the setup from a daily chart:



and potential support at 42.10 on 30 min: