Dear Investor,
First sign of tiredness was seen last Friday Oct 08 2010. Well Quantitative Easing fever is not done yet. Gold is almost at new record high and similarly most of the stocks are at their record high. I was hoping to see the break of up trend line last week, now lets see how it plays out in coming week. clearly some fear is returning but not so much yet. We need constant closing in red one after other to induce the fear factor into this market which appears to be ready to pick everything on sell. We can't blame anybody, this has been a fears bull which knows only one way and that is up.
Few bars below trend line will define next immediate direction. For all practical purposes Uptrend is not officially over. The bull is full on.
I link unusual activity in Mercator Lines. It has build very long base and has big resistance at around 80. It should be on your watchlist. It could break out and run very quickly.
Thanks
Anil
Got a Question/Send your contributions for other members:
email:indiastocktrend@gmail.com
Please forward this email to your friends and family members to help them build wealth under technical stock market guidance.Disclaimer: Please trade with your own judgment or with the help of investment advisor. We are not responsible for any financial losses.Stop Loss: Sell Stock if it closes below this price. It tells you that market has proved you wrong. Accept it.
No comments:
Post a Comment