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Strategies & Market Trends : Classic TA Workplace
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To: jjstingray who wrote (162527)2/22/2008 12:22:20 AM
From: The Freep  Read Replies (1) of 209892
 
JJ -- I haven't seen Shack say he's bullish here, but rather that the BKX and financials have a possible pattern that would say that shorting in THAT sector, at least, wouldn't be great. BUT, as he also notes, if that pattern proves not to be what's in play, it could get pretty ugly there, too. The wiggle formation is getting long in the tooth so it might, in fact, be something else entirely. We'll see.

I am still waiting on volume -- last two days were better but not fantastic. I agree that the bearish reads are clear here and have to be respected, but until we actually see a break in one direction or the other that actually HOLDS then it's all just jello....
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