Tuesday, February 17, 2009

Down we go...

Looks like we broke under the greentrendline for good. That 65 target is a first pass guess of the low. It bill be refined daily as we get closer. Daily stochs are still pointing down and the MACD has just crossed over. So we have a little room to run. Expect a big bounce around 75.

We could still retrace all the way up to 82 potentially...But I am leaning more the the green line as we retraced to the first fib and then made a new low for the day.
Trimmed my SRS position back a little. Will buy more if we bounce.