Head and shouders pattern with the (200 MA) right at the neckline. A close below the 200 day will be devastating to the market.
Joined Jan 27, 2008
7,405 Blog Posts
© Copyright 2007-2024 iBankCoin All rights reserved under penalty of bodily harm. DISCLAIMER: This is a personal web site, reflecting the opinions of its author(s). It is not a production of my employer, and it is unaffiliated with any FINRA broker/dealer. Statements on this site do not represent the views or policies of anyone other than myself. The information on this site is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities. DATA INFORMATION IS PROVIDED TO THE USERS "AS IS." NEITHER iBankCoin, NOR ITS AFFILIATES, NOR ANY THIRD PARTY DATA PROVIDER MAKE ANY EXPRESS OR IMPLIED WARRANTIES OF ANY KIND REGARDING THE DATA INFORMATION, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. Privacy Policy
Yup, looks about right.
ATHR broke down.
Cajun, the Dow has been beneath the 200 day moving average for almost all of 2008.
Your chart reflects the 200 week moving average, or an average encompassing over 4 years worth of weekly data.
If you want to use the 200 day moving average overlaid on a weekly period chart, then you would set your average to 40. 40 week moving average corresponds closely to the 200 day average, and the 10 week moving average corresponds closely to the 50 day moving average.
I agree on the huge head and shoulders. Try drawing your line from the Feb 07 lows through the March 07 lows to get a really good neckline.
I agree with you Wood, but look at where we bounced. Odd no?
http://img241.imageshack.us/img241/9207/dji1jw6.jpg
I think Rage was right to use the 200 week line. That’s been traditionally “the bottom” or “the line of death” depending on what time period you are looking at.
Jake, who said anything about being “right?”
All I said is that it is not the 200 day average. It is the 200 week average.
Looking 20 years back, the 200 WEEK moving average has seemingly acted as support. I have only one period in 20 years when the Dow traded beneath its 200 week moving average and that was Summer 2001 – Fall of 2003.
However, I think today’s bounce is more about retesting of Jan and March lows than 200 week support.
what the fuck is wrong with AMZN you said it was going to 90?
Cody, didn’t you have a stop?
Cubs
Is your red line the 200 week. I can’t chart it up where im at. Need info
thanks
Weekly, very close to breaking down.
we’re going to break.
no rate increase, and oil is going to trade up and break these bank-buying clowns.
I think Prospectus has the right opinion:
http://www.ibankcoin.com/peanut_gallery/index.php/2008/06/24/prognostication-and-ramifications-re-the-fed-tomorrow/
But I guess we will have to wait and see
DEATH TO RF
13.06 yeild!!!!!
Ya, fucking right.
It has to cut it.
Hy —
You think they’ll cut that FMBI as well? I can’t imagine they spring it “day before.”
JakeGint
I do. But I see RF getting cut first- theyre in trouble. My guess is by next Friday (if not before)RF comes out and cuts/raise.
Goldman called:
KEY
FITB
RF
CMA
So far they nailed KEY and Fifth Third (I was short both and woke up to being up huge on both). Looks like RF is next on the list.
Some names I came up with in a half-awake/half asleep state.
short side
I like PDA, BNI, BAM very nice
watch CLR for lopsided H+S confirmation (difficult to see, look at 3 month)
ALEX bear flag
others: LDG, HXL,DIVX, IPG,
FRS (very small cap no options put head in blender at own risk)
Long
PBT a “house’s money dividend” play, ex date Thursday, broke out today
ONXX -failed to follow through today, but may bounce on the retest.
For those who can trade stocks on crack:
NTI (I like), CNTF FRG, HLF, IDSA, EMKR, ARTW,
Triangles developing (potential straddles): V (looks to be the short side… watch MA to breakdown), SOLF, AKNS,
CHIC, CONN, ACTS, JADE, ULTR, IIVI
let me know if any in paricular stand out to you.
MA breaksout of potential H+S
expect the long side of V to break.
Hattery,
MA is skitzo [sic]. Egregious breakout after my sell signal triggered yesterday. Can’t win them all.
took down some V