5 I’m such a slug for some reason lately. Apparently six hours of sleep just isn’t enough for me anymore. I was sitting down with some research spread out on the coffee table, when I leaned back and fell asleep. This is very unlike me, and I have now wasted a small portion of my day. On to the important stuff.
I mentioned LBY and BLT as possible shorts last night here. I am going to get into what I think of the housing market in my next post, but I would like the chartists to opine on the companies’ charts and let me know what they are saying. I will also be heading into the technician den know as The #12631, akin to seeking out the oracles before going to war. Thanks guys.
5 Responses to “Calling the Chartists”
Raul3
both charts look weak, I see better short-side risk/reward on $BLT, esp. on a break of $15. Target the high $13’s for your first scale and to raise your basis.
g/l
Rhino
Thank you fine sir.
elizamae
lol…this is why charts are teh win!1!!
elizamae
It depends on what your targets are in both names.
BLT appears to have pretty solid support all the way to single digits.
If LBY gets rejected again in the mid 19’s it doesn’t have a whole lot of support until the high 15’s. If it breaks above 20, it’s probably going to run, so that’s a good place to set your risk.
Hope that helps.
Rhino
Thanks dude, of course.