Thursday, October 29, 2009

Beware Another Failed Head and Shoulders



Here is the thesis...


1) A decline is underway and is expected...

2) We have a valid H&S bottom that measures to 1230...

3) We had a failed head and shoulders top - highlighted in first rectangle...

4) It looks like we are repeating that pattern now...

5) We may hold 1020 and then continue higher for another leg up, like we did when the other h&s failed...

6) That would allow the 1230 target to be met and also allow for the over bullishness that could generate a  real decline...

Apart From the Crowd - 10-30-09

Monday, October 26, 2009

PBR - Petrobras



BIDU - Looking Like S&P 500 Circa July 2007


I see that BIDU declined after hours. I put together this chart a couple of days ago and I thought to myself, "Boy, this looks similar to the double top that formed on the S&P500 circa the 2007 highs..." We'll see if the 20 day EMA holds...

AAPL - Long Term