Replies to post #32692 on Zeev's Turnips Patch-No Politics (ZEEV)

[chainik]

<MMM it is one of the few Dow stocks that is not in a major down trend>

This is exactly the reason why I want to short it...

[Michael049]

Zeev, You are a much more skilled chart reader than I am, but I don't see what you do with 3M. To my eyes, it looks like it is beginnning to break down (EMC late fall, 2000, QLGC earlier this year). On a P&F chart it shows a double bottom breakdown. It is trading below its 10, 20, 50 & 200 DMA (all headed south). Its Chaiken Money Flow is weakening (distribution) and its candlesticks say sell. If it breaks 110, it is, I believe, in very serious trouble and is headed for something under $90. A move like that will kill the price weighted DOW.

Mike

[Benj]

"Zeev,

You'er right about T. IMO they have a knack for destroying everything they touch and I regret Having had to experience it the hard way, not ever even owning the stock.

Benj