Friday, November 23, 2007 3:58:13 AM
I'm seriously looking at the XLF.
The chart looks as if a lot of people are stuck calling a bottom, or the shorts have been closing out trades. Just look at the A/D line! Accumulation has been trending higher since the bounce off the subprime selloff in August, but stock price has gone WAY DOWN!?
Very odd I must say as the A/D line usually follows the candlestick chart. Looks like a setup for a big movement to the downside on continued negative news from the financials.
Too many people here in XLF stuck trying to call a bottom?
The chart looks as if a lot of people are stuck calling a bottom, or the shorts have been closing out trades. Just look at the A/D line! Accumulation has been trending higher since the bounce off the subprime selloff in August, but stock price has gone WAY DOWN!?
Very odd I must say as the A/D line usually follows the candlestick chart. Looks like a setup for a big movement to the downside on continued negative news from the financials.
Too many people here in XLF stuck trying to call a bottom?
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