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Technical Analysis with chessNwine

chessNwine
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
8,861 Blog Posts

You Trying to Say Jesus Christ Can’t Hit a Curveball?

chessNwine Tue May 17, 2011 1:54pm EST 6 Comments

[youtube:http://www.youtube.com/watch?v=QfzIBlqf3TQ&feature=related 550 412] ________________

Just as it is very bad to drink Jobu’s rum, it is also dangerous to short oversold financials that are printing a series of bottoming candlesticks. Whether this is THE Bottom for financials is irrelevant to me. At issue is whether they are setting up for a tradable bounce. Looking at the charts of GS JPM MS WFC, my analysis leads me to answer in the affirmative. I will be looking for upside confirmation, and will be implementing relatively tight stops below the obvious lows on these charts.

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6 comments

  1. Berniecornfeld
    Berniecornfeld
    May 17, 2011 at 2:10 pm

    Second? Nice Chess.. Thanks

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  2. SST
    SST
    May 17, 2011 at 2:53 pm

    PBCT has a nice thing going too. Still being held currently by downtrend line but nice support price action since Nov. No current position.

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  3. Jakegint
    Jakegint
    May 17, 2011 at 3:13 pm

    Makes sense… JPM must be out of it’s dangerous silver short now…

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  4. NicTrades
    NicTrades
    May 17, 2011 at 5:41 pm

    http://twitpic.com/4yy4e9

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