Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Sunday, March 8, 2009

Charts


Ok.... we have divergences in every oscillator.

MACD.

MFI, showed an impending buy signal late thursday, and has shown a divergence and has yet to hit overbought.

ChOsc went into a divergence, indicating a buy on friday.

SMI (also know as) STO % Threw out a buy signal about 15:30 on friday, it also shows a divergence.

At a minimum, this bounce should be stronger than the Tuesday /wed bounce.

But besides the fact that sentiment felt like we abandoned all hope on friday(UBER BEARISH SENTIMENT).

The fact that I called Bottom on friday(and though I joked about it being Tony's bottom), I actually mean it.

But besides all of those things....If you ignore all of that information..... I just can't help...

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