Friday, December 19, 2008

I think we are officially out...

Tommy T. complained about me moving that lower dark green line. Come on, I was giving the bulls a chance :)
Anyway I moved it back for him and we can see we have officially broken out of the wedge as well as the bull channel that had been formed in early November. If you go back to previous posts you will see the bear channel has never been moved...but was sure tested recently :)
SRS has been performing strangely and has been down even when the markets have been down. Although some major REITS are having problems. I wonder if its the calm before the storm.

Anyway back to the trade...I think you can take a short position at any point while we are in the upper portion of the bear channel.