Chart below uses the Dow Fib Levels........as I see it, we are retracing back to b/o level at about 13375 +/- and the reason for the retrace is that we bumped our head on the 50% retrace level at about 13475 ish, another run at that later today should be broken to the upside
Liquidated my Dow Longs at close last night and bought Dow Futures at 13496 this am and will buy DIA in 500 share chunks (maybe at 10:35) as long as Ms. Mkt obliges......
http://stockcharts.com/c-sc/sc?s=$INDU&p=15&b=3&g=0&i=t68511931645&a=109105571&r=6468.png
Guilty..Buying the Dip This am
Started by
Woody
, Jun 12 2007 08:16 AM
1 reply to this topic
#2
Woody
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Posted 12 June 2007 - 09:24 AM
Covered a few pennies below B/E, 200 ma on 5 min chart stopped bounce dead in its tracks, also 8/34 cross to the downside says trend is now down in the ultra st, will wait for cross back up, was expecting MCO on NYSE to approach zero line before this bounce was over....that may still happen
