Saturday, May 15, 2010


I like using the 10 and 25 EMA's, I have highlighted my chart so you can see how the signals are generated.
The MA's are now declining, so they will not be supportive to price, will act as resistance.
Let's put fingers in our ears, the news doesn't matter, opinions don't matter, ACTION matters....that's what I will concentrate on.
It would appear prices are not low enough to entice sustained buying to surpass old highs. It seems a good bet reaction lows below 10,000 will be tested.
So IMHO, I like talking about the fundamentals, but the stock action will speak louder. At the bottom nothing looked good but great time to buy. At tops data is appealing but prices have peaked......ACTION is more important than words

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