IBM set to correct.
Started by
oextrader
, Mar 21 2008 02:59 PM
5 replies to this topic
#1
oextrader
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Posted 21 March 2008 - 02:59 PM
Leads me to believe the next break on the OEX may be to the downside if IBM is any indication, RSI may also have peaked on a weekly IBM chart.
Rick
#2
SemiBizz
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Posted 21 March 2008 - 03:26 PM
I think what we have here is a "flight to quality" trend. 3 month Treasury notes now yielding 0.38% Perhaps the bond market will give us a signal when it is "safe" to short these... Wowza.. have a look at that GE Chart !!
http://bigcharts.mar...&mocktick=1.gif
http://bigcharts.mar...&mocktick=1.gif
http://bigcharts.mar...&mocktick=1.gif
http://bigcharts.mar...&mocktick=1.gif
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Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#3
StillLearnin
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Posted 21 March 2008 - 03:28 PM
Rick,
What about that chart looks bearish?
Thanks.
SL
#4
Russ
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Posted 21 March 2008 - 05:09 PM
Longer term IBM and GE look more like they have done a successful test of the lows... that huge bullish candle on Ge's chart is showing the bulls are firmly in control.
http://bigcharts.mar...&mocktick=1.png
http://bigcharts.mar...&mocktick=1.png
http://bigcharts.mar...&mocktick=1.png
http://bigcharts.mar...&mocktick=1.png
Edited by Russ, 21 March 2008 - 05:11 PM.
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"In order to master the markets, you must first master yourself" ... JP Morgan
"Most people lose money because they cannot admit they are wrong"... Martin Armstrong
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#5
oextrader
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Posted 21 March 2008 - 08:45 PM
Rick,
What about that chart looks bearish?
Thanks.
SL
Stochastics looks to be peaking, RSI is also making lower peaks on the daily while the stock has not gone to new highs,and RSI may have peaked on the weekly chart. I say it may lead to a pullback this week.
Rick
#6
oextrader
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Posted 21 March 2008 - 08:48 PM
Longer term IBM and GE look more like they have done a successful test of the lows... that huge bullish candle on Ge's chart is showing the bulls are firmly in control.
http://bigcharts.mar...&mocktick=1.png
http://bigcharts.mar...&mocktick=1.png
You may be right, I don't know. I have never found candles to be of much use.
Rick
