We will still see.... I wasn't all that surprised by the rebound. Tough to play pandemic...
Larry Kudlow bitching about how the unions are treated better than the bondholders... Sorry Larry, you are the one all about Bankruptcy... didn't you know that Employee obligations are ahead of bond holders... If I was an employee, I'd insist on liquidation and get full repayment of my obligations against the company Assets, then go to work for Toyota.
Why let the company default on it's liabilities, and work for Toyota wages anyways.
Monday, April 27, 2009
Orange line
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3 comments:
I like this chart... it looks like the lines I've been looking at. You must be back on the java.
My interp, correct me if I'm wrong:
We are in a wedge pattern (ie, range) and a break above the pink is bullish and break above the green is more bullish with that level acting as support. Of course, volume and breadth would need to be considered.
A break below the orange would be negative, but we would still be okay on the long side until we break below the green or pink. One way or another, this wedge should resolve in the next week.
remember my 2 line sell setup....
we are near that... but Don't worry about catching the knife... Unless you want to gamble...
but I still think we are retesting your 87.20 level... and I think we could do it on no volume and push through for a Bull trap...
but this is the 3rd retest of 87.20... which means a small pullback then we should push through...
the Prognosticated "Wedge" of last week.. they don't realize that it is resolving in the next 2 days... you have to wait for a wedge to resolve before you can bet on it.
there are a ton of smaller wedges that we have too....
I wouldn't be suprised by the breakdown before breaking 87.20... but that is a harder play.
just to say... you are right.. our indicator will be, as we start breaking through those "support" trend lines....
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