AI
Sunday, November 19, 2006 12:08:20 AM
Here is what chartist's are looking at:
Note that we bounced off resistance and also the top of the channel (blue lines) stochs are oversold - indicators are topped out - from a purely technical perspective we needed to correct. As a swing-trader/chartist I would have sold here as well. Knowing the inside story here I am still long, but it is based on FA not t/a. In pinkyland t/a rules, so I think a lot of players bailed. This retrace gives the rest of us a chance to add, so gather your powder boys, out day is coming!
Note that we bounced off resistance and also the top of the channel (blue lines) stochs are oversold - indicators are topped out - from a purely technical perspective we needed to correct. As a swing-trader/chartist I would have sold here as well. Knowing the inside story here I am still long, but it is based on FA not t/a. In pinkyland t/a rules, so I think a lot of players bailed. This retrace gives the rest of us a chance to add, so gather your powder boys, out day is coming!
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