^ dojis in a row, this is one of the coolest chart pattern that I have not seen in my short trading experience.
Any one who knows what the outcome of such formation, please leave comments.
My take is that the market is consolidating in the tightest range possible. And any breakout is going to be phenomenal.
What is good for the LONG? QE2.
However, QE2 is already priced in. I am afraid that if QE2 is below $500billion, the market could breakout downwards.
I am not afraid of a rally continuation. I am only afraid that the market will crash downwards!
For now, I am continuing to watch my focus list. I am striking out MGM from it and lowering my buy order for US STEEL: X to $37
4 comments:
It's better to invest in MGM than JPM. I short JP Morgan Chase. This case is like GS before. Time to make money again. Anyway, I have 1000 shares remaining at BAC. If tradedragon is right I will add my position @ 10.88. Happy trading.
I'm even at JPM and BAC down 1.04%. I'm up @ MGM. Overall I'm still positive. I want to add my position @BAC but I changed my mind maybe after the election results.
I call MGM to read your comments and they said that they gonna pop up the stock price to downgrade your school and your credibility as an advisor and it's true. I said MGM is a strong buy not a strong sell or a story teller.
Dragon, try to translate this quotation:" Papunta ka pa lang pabalik na ako." If you have a Filipino classmate you ask him/her.
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