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Strategies & Market Trends : Charts & Scans
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To: Jeff Jordan who wrote (5050)5/12/2009 9:33:02 PM
From: Jeff Jordan  Read Replies (1) of 5125
 
Are we there yet? Don't fight the RSI ...like I've done the last couple of weeks<g> It was strange seeing so many trading the market on the same technical levels? I think the excess bullishness is winding down? I'm expecting to see the charts drift lower...nine weeks up, well a few weeks of drift probably won't spook anyone and give the media and pundits time to make noise? 800-825 still looks good? I don't expect to see alot of options flux this month?



I guess I was kidding about GM being anything more than a scalp, once they made their new plan know for a reverse stock split etc the stock was doomed. It was a trade for a day or two...a good short since then. Ford did so well, I thought briefly GM had a chance? Who doesn't like Cadillacs and Corvettes...the new Camero looks like a winner?

I'm glad to see a few stocks pulling back....but, I'm not happy about crude prices and the Dollar. Normally when the FED prints money and opens the spigots things turn around, this time it might be different. Big brother has his fingers in everything...NOT GOOD

Lots of rain is keeping lake levels high so my Weekend Series tourney on Lake Tenkiller stands a good chance being cancelled? It's ashame to miss the spawn even though they haven't really moved up yet but the time is probably here? If they reschedule for August well it's a whole different game. I'll be heading back to Toledo Bend at the end of the month and am looking forward to that.
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