I haven't looked into earnings date or fundamentals on this one so be sure to investigate for yourself before taking any action. Just looks like a nice short set up is all.
Sunday, September 09, 2007
Rolling Over
A number of leading stocks appear to be rolling over right here and the not-so-leading stocks look even worse. One leader from the first half of this year is AFSI, the chart was a beautiful long until it hit a high of 22.08 in early July. It has formed a perfect 50% retrace (22->12->17) and now looks ready to resume the correction lower:
I haven't looked into earnings date or fundamentals on this one so be sure to investigate for yourself before taking any action. Just looks like a nice short set up is all.
I haven't looked into earnings date or fundamentals on this one so be sure to investigate for yourself before taking any action. Just looks like a nice short set up is all.
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2 comments:
I just discovered your blog on a search for bearish charts. I like what you've got going here and I will be back.
Jim
Thanks, you have some interesting strategies yourself.
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