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Re: dmlabuda post# 127

Friday, 12/02/2011 11:31:24 AM

Friday, December 02, 2011 11:31:24 AM

Post# of 1914
Weekly Chart Analysis - The BIG Picture. It appears that we are most likely looking at a Selling Climax now on the weekly chart. In my opinion (this is an educated guess), the price should rally back to the $1.00 to $1.50 range over the course of the next 7 to 10 weeks because that is how long it took the price to fall from that level. Beyond that I have no idea at this point. Between now and then, there will be many opportunities to take profits and buy it back on a reaction. I like to watch the Hourly and 15-minute charts to time my entry and exit points. When those two charts are Overbought or Oversold, you have the best chance to time your trade perfectly. ROSG - Weekly Candlesticks