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Re: choppers post# 30278

Friday, 05/27/2011 12:22:31 PM

Friday, May 27, 2011 12:22:31 PM

Post# of 98509
Well, if I'm not mistaken, I did say that high volume spikes back on the 15th and 16th at market high prices was an indication to me that a lot of people were taking profits. I also pointed out the divergence in the stochastics with the new higher price and the fact that a key reversal day appeared to be in progress. So, any chartist should have been able to look at the current chart and confirm that. All I do is report what I see and tell you what it means to me. There were a lot of people who seemed eager to buy yesterday at what I perceived to be very high prices. I was hoping to cause them to perhaps tone down their emotions & rethink their decision. What they decided to do with the opinion I provided was entirely up to them. As it turns out, my assessment of the market condition was correct.