It appears that the swine flu cannot be contained. It’s spread out in different geographical regions in the US. The incubation period is one day, and a lot can happen in that one day. The number of cases should increase dramatically as more people report it. Since there are no deaths, it seems like the strain is non-lethal to Americans, however, the sample is too small. We need a larger sample size, it is inevitable. Don’t make contact with anyone that looks sick (coughing, sneezing, congested, tired, aching, etc.)
The entire day’s action was fine, except for the last hours. There was mass confusion and indecision. There were irregular spikes up and down. This itself is not bullish at all. Let’s call it a flag within a flag…within another flag:
Now depending on the time frame, the market trend can be either bullish or bearish. Both longs and shorts can be right within a neutral flag (first flag), as long as their time frame is correct. If you went long at the bottom, then we’re still in an uptrend. If you are short, you can catch the pullback, and possibly more if we break down. It all depends on your entry & exit, which is determined by your targets, time frame, and other factors.
If you look on the 10-day chart, the 2nd flag is marked in green (diagonal). Support is at approx. 846 and resistance is at 875, which coincides with many of resistance levels. The third flag, marked in sky blue on the 5-day chart, can be seen forming over the past 2 days.
This is why suggested the past few days for both longs and shorts to hedge with something. Either that, or this neutral range will hit your stress points. These ranges will cause you to make bad decisions. For swing traders, this range is especially deadly. I’ve seen these traders impulse buy and sell like there’s no tomorrow. For day traders, just stick to what you do best.
I’ll give my $1-3 picks later, if I don’t forget.
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This article:
http://online.wsj.com/article/SB124088901025362487.html
Just dropped the futures a full 1% instantly.
was almost obvious something like that would come out. the more important news is how many of these banks have issues that we don’t know of and have a situation similar to Bank of America and Citigroup. Gap below 84.3 on SPY be great for bears
The paragraph in the article that says C and BAC are not the only ones likely to need more capital is what is scaring people I think.
The Nation is BK and the Financial structure (Global) is broken,,,,ie Insolvent regardless how many IOU’s are stroked (printed) on the keyboard.
Remember, $ 700 “T” in OTC Deriv’s,,No way out!
Bought WRES $1.67
Half FEED cut $3.63
CA again, great job on your TA and chart analysis…
Weren,t you sick when you came back from Mexico?…We found the Alpha for the Swine Flu in the US!
Just kidding..my son got sick too.
Hey CA,
r u looking to see WRES fill the gap upto 2.50 after earnings on the 6th?
just curious what your target is….
thanks
Thanks CA for headsup on WRES – any stops/targets ?
Target is like a buck away or so.
btw, I sold half of FEED ONLY because I have to build up some cash so I can buy all this other shit.
sounds like a plan. nice pick, looks like a winner…
thanks!
Bought THC $2.19
Bought CBB $2.869
CBB looks interesting. needs to get passed this 2.85-2.87 business and then look out…
How do you like the look of $URRE CA?
CA, did you use to frequent wallstreak in the past too ?
URRE – may need consolidation back within the bollingers.
Wallstreak – no.
hey CA, so much talk on this site and others about LVLT… Fly bought in and out and now back in around 1.05… r u a buyer or a watcher of this one?
thanks for the time….
I’m a watcher on LVLT. I’m done with this bitch.
wow, im in good company then. same….
CA,
How about COIN….I’m suprised with the site name you guys weren’t all over this one today….
Hi, COIN will have to flag for me to enter.
coin,
i hope u were a buyer yesterday…..