Mark, unfortunately, yes, this doji negates a lot of the positive movement so far and I had to get out on the close, when it became evident that something is not right here. I had a stop loss at $94.75 (just as on the last trip above $100), but decided, why leave three points on the table? I think that we are going to at least retest the $88 area, and possibly again the recent low of $77.75. On the FA front everything is "dandy" with IDF coming up and expected announcements from whomever, so why such technical weakness. I got to obey my mantra, when the FA and TA do not jive (and when a doji comes on almost twice as much volume as the rally leading into it), follow the TA. Later, FA will explain what happened, or I'll be whipsawed.
I could not get on the classic all late afternoon, and they still have not managed to get me on the new SI (it won't accept my log in), so I could not post this conclusion earlier. Sorry.
Here it goes again, I am waiting for 10 minutes to try and post this one.
Zeev
Zeev |
