Discussion in 'Trading' started by peilthetraveler, Feb 29, 2008.
Does that mean that we should all go short today because CNBC is always wrong?
Even a broken clock is right twice a day. I personally wouldn't trade off of anything I saw on CNBC but then again I don't watch it in the first place.
if people are covering, just short more against them....we'll see DOW 12,100. Look at a daily chart- textbook sell at the 50bar; 60 Min chart - range market with a double top at 12,750. First support/bottom of the range at 12,100
Textbook Technical sell signals these past 1-2 days...you'll see pictures of those in technical analysis textbooks in a few years.
On the flip side, if we can get a solid close above 12,750+ the bull will be back (for the medium term anyways).
Aren't they supposed to wait until 3:45PM on a Friday to come out with the "news" that is supposed to save the market for the week? Wonder what it will be today?
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