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[hiker]

bounce failure near 48.66 horizontal...is it constructive to the overall pattern?...my gut says no, my chart analysis says iffy...downstream result remains iffy, and sellers hitting the horizontal hard could backfire...price action summary right now - 1 min on confirmed sell 3 min on prelim. sell with 200 sma below current price by about 15 cents...the 3 min is actually on a confirmed buy in whipsaw config positons of the 5 and 15sma's...confirmed buy cause the two ma's and price remain above the 3 min 200sma 15 min...remains on prelim buy with 200sma above both ma's and price..but is nearby about 8 cents above today's high..this could be easily taken out tomorrow...that is the risk... the GREATEST risk ...to shorting right now....I would not even consider it.

Edited by hiker, 30 July 2007 - 03:03 PM.