Sunday, August 8, 2010

One move does not make a trend

no, a trend is formed over a longer period time. If you are a short term trader you would be encouraged to buy stock as it appears to be going up to test 1131 again. It has failed twice. An intermediate trader is still looking at a downtrend. But we have to be cautious now because Relative Strength, Macd, and Stochastics and PPO are signalling a change in trend. Is it for real? Only time will tell. Hopefully the short term will resume its downtrend as well.

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