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"

Friday, May 15, 2009

figured I'd show this.

we arn't through.... I just can't imagine that anyone is willing to play this for a bounce... but I do imagine there are people waiting for the bounce...

if it breaks.. we may see it do a trap as "Everyone"Chases is.

4 comments:

Tony said...

I hate questions like this, but I'll ask it anyway.

What do we see first 90 or 87?

My vote is ______

Eric said...

looks descending at best, and that target is 86.

but it now looks like we could have a bounce..

Eric said...

there is also all the possible shortcovering into the close

Tony said...

Yeah, I always forget to factor in the shorts and daytraders... but the bounce shouldn't be more than a buck and then continued sell off Monday or Tuesday.

87 by Tues am.

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