Berney; RE:" WMT "
>As for WMT, both the weekly and daily MACD charts popped bearish signals Friday. Decidely not a great sign. My review of the charts says that it could fall to $53 without breaking its weekly trend line.
I got the short-term UpTrend at ~59, some retracement support at ~57; then that 53~54 area is important - just below that is the 200d EMA; last line of UpTrend (from October '97) says 49 is divine. My trends are drawn using closing prices (line charts) rather than from the bottoms of bar charts. FWIW, my accumulation strategy is :
WMT - 1x59/2x57/3x54/4x49 = 53-1/8 avg
For WMT to fall this much, or part thereof, the OEX-100 has to fall another -9%, n'est=ce pas ?
Berney, unfortunately the BAMBI update you sent me - my software cannot read past the column A list of company names :-(
...and it means a lot to me ;-) Can you convert it to ASCII, either post it here in the sandbox or, re-send E*MAIL in another format ?
If you're in the mood, take a look at the DAX-30 chart, as DJ, JT and MG are following that EU engine closely! EWG - looks like supports at: 22 (DAX-30 ~5232); 21 +/-.25 (DAX-30 ~5000); and then 19.6 (DAX-30 ~4712). DAX-30 ~5000 represents a ~20% drop from 6200.
-Steve |
