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Technology Stocks : Nokia (NOK)

NOK 6.015

-9.4%

12:59 PM EST

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To: sylvester80 who wrote (31063)	8/2/2012 2:16:51 PM
From: sense	1 Recommendation Read Replies (1) of 34857

It ran WAY past the second derivative upper bolly in the move higher... which tells you there was a lot of surplus expectation built into the market move tied to the pinch breaking... as that's a pretty significant excess in optimism released in a really short period of time... paired with nothing having changed in the fundamentals. Without considering the impact of larger TRENDS in place, which are what will most likely dictate "higher" or "lower" when the current pattern settles down ? Normal trading patterns would have you expect to see it retrace at least to the middle bolly, and probably back to the lower first derivative... that would be around $2 and $1.80... Then, there will be some "noise" for a bit... before it finally becomes clearer what the TREND really is... My opinion is that the TREND is probably not close to being resolved, here... I think that means we'll sustain larger than average volatility for a while... This should be a great day trader for a while, yet... if you're not married to an opinion, but accept that its a POS, and just trade the damn charts... Should make new lows as the volatility settles out post pinch... before it wins a chance to move higher on a fundamentally sound basis... which will happen only IF they do actually manage to "fix it"...

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