If you're short, I'm the sucker going long....: Pick your Poison

Thursday, January 22, 2009

Pick your Poison

ASCENDING

FLAG

Pennant

6 comments:

Tony said...: That's sort of what I've been seeing... and I thought it was just me and my remedial right-brain.

Somewhat glad to see others are having trouble with the squiggly lines.; January 23, 2009 at 6:16 AM
Eric said...: Who knows...

but Fatigue doesn't help.

But... Futures say we are going to break the trend, and probably leg down.

The problem with the Ascending is that the sell off from yesterday, should have been low volume, and slower(which says Bull trap).

That Flag is weak... and remember what i said..The trend line most tested will be the one broken.

Also a pattern tends to resolve at about 2/3rds.

Seems like we have a Pennant in a downtrend.; January 23, 2009 at 6:26 AM
Tony said...: I'll take your word for it, after all you're the squiggly line specialist.

I see your point about the volume.

We'll see sectors are relatively spared today; if Mamis' thesis is correct, pharma and staples should hold up if today is a microcosm of the overall bear. And with PFE buying WYE, this may be evidence that health care is consolidating-- a strong sector indicator.; January 23, 2009 at 8:40 AM
Eric said...: Umn.. Not to hit your bank thesis. But if they fuck up it will be depression age shit.

but as a technical indicator, if the banks are this bad, the corporate sector is fucked, and we may see a flight to companies that will survive, and a new age of the conglomerate.; January 23, 2009 at 8:48 AM
Tony said...: "...it will be depression age shit..."

Yes, and your point?

This IS "depression age shit", my friend.. you're soaking in it!

[Now I'm going to go fade my negativity.]; January 23, 2009 at 9:42 AM
Eric said...: that was funny...

I'm to busy to laugh though.; January 23, 2009 at 9:50 AM

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