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techcharter

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techcharter

Re: None

Wednesday, 01/30/2008 10:32:00 PM

Wednesday, January 30, 2008 10:32:00 PM

Post# of 51804
SKF Bottoms

This is the UltraShort ETF for the finance sector.

1.) Volume decreased as the selling over the last week slowed down. Then look at the explosion in volume at the end of the downtrend on an up day!

2.) The candlestick shows a hammer, a classic bottom formation.

3.) Nice bounce off the lower Bollinger Band.

4.) The stochastics are in oversold territory.

5.) MACD stopped diverging, waiting for a crossover confirmation in a fast market will mean missed opportunities

6.) This thing is going parabolic.

I'm glad I got some shares during the second post Fed thrust.

http://stockcharts.com/h-sc/ui?s=SKF&p=D&yr=0&mn=6&dy=0&id=p75635173805
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