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Strategies & Market Trends : Strictly Buy and Sell Set Ups -- Ignore unavailable to you. Want to Upgrade?

To: Zeddie88 who wrote (11709)	3/26/2007 6:32:10 PM
From: chowder	Read Replies (1) \| Respond to of 13449

Re: IOC ... >>> I'm just wondering how IOC looks to you now as I'm not certain what today's candle does to the overall bullish chart pattern. <<< It depends on your time frame. If looking for a 1 or 2 day trade, I don't like what I see. If looking longer term, today's price action doesn't do much to change the character of the intermediate term trend. Price has had a nice run up in the previous week and was due to some profit taking. Today's volume is not suggesting we should panic yet. I would expect the 50 day moving average to support price on any further decline. If it doesn't, then I'd be out of trade.