WHAT I WOULD DO LONG TERM: There is ABSOLUTELY no reason to buy at this juncture. I would keep my powder dry and let the market tell me when it's time to put some chips on the table. Have a great weekend everyone!
Friday, November 9, 2012
STILL DOWN
THE TRENDS: While the long term trend remains up, the intermediate term trend remains decidedly down. For the past couple of weeks I've been talking about the high likelihood of price declining into the 138 - 140 area. On Monday the market rallied to touch the 10 week moving average but then sold off to close on Friday at 138.16 below the 40 week moving average at 138.61.
WHAT I WOULD DO LONG TERM: There is ABSOLUTELY no reason to buy at this juncture. I would keep my powder dry and let the market tell me when it's time to put some chips on the table. Have a great weekend everyone!
WHAT I WOULD DO LONG TERM: There is ABSOLUTELY no reason to buy at this juncture. I would keep my powder dry and let the market tell me when it's time to put some chips on the table. Have a great weekend everyone!
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment