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System Trading with Woodshedder

Woodshedder
Joined Nov 11, 2007
1,458 Blog Posts

The Daily Breakdown: TNE

Woodshedder Mon Nov 26, 2007 11:30pm EST 3 Comments

This evening’s feature stock is trading beneath both its 50 and 200 day moving averages. Unlike many stocks that are breaking down, it is not extremely over-extended beneath its recent base.

All the typical caveats apply here. The RSI(2) is 2.5, which means that this stock has some bounce potential. However, a few days trading around or just beneath the 200 day would work off this oversold condition and still provide a great entry for a short position.

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3 comments

  1. Juice
    Juice
    November 27, 2007 at 5:31 am

    Looks like a good one. Lots of stuff taking on that look.

    BRP EWZ SSL IBN FISV MRO etc … a short sellers paradise

    I think the oil sector is under distribution .
    on my watch list for short trades

    SLB SII WFT

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  2. Juice
    Juice
    November 27, 2007 at 8:06 am

    up futes, histoire

    us peanut gallery traders can’t even get good prices to put on new shorts & dump a few duds

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  3. JakeGint
    JakeGint
    November 27, 2007 at 12:24 pm

    Looks like she’ll tap her 200 day before rezooming plummetage.

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