Ford Motor Company (F)

[frankie_fillet]

IMHO it is just a normal cycle. Ford has been kept in the over bought position past its prime. It needs a pull back if it is going to continue.

I can see a bottom of 12.80 if this continues. Long chart has plenty of room for downward movement.

Remember... when all the indices are maxed out or above the median line it leaves lots of room for down... it is just a fact of life and markets. Some one is going to take advantage of that.

It does not mean no one likes Ford. It means they are going to follow tried and true practices. News will always trump a chart. But history has a tendency to be redundant especially with stocks.

If you look at many charts right now a lot show the same pattern. I think this is because they tend to follow the dow, S&P or the Naz. Which in turn follow to some degree the world markets Asian and Euro...

I welcome the pull backs. It is a chance to travel that channel up again and again and again.

GL

and have a good and careful trading day.