Posted by junkmaylbox on 18th of Mar 2009 at 11:34 am
Ravun, It looks to me like we are seeing a distribution pattern
here after the rally since 666 retraced 38% of the decline from
January highs. What's to follow is a few days of choppy action
and a slow decline to 38% of the latest move up. As an
example of this action, I have the price action of any gold stock
in the fall of last year. The key similarities are the V-shaped
action during a rise and slow but steady decline. Is this your
projected course of action? I am trying to make sense of this in
real terms of buying and then taking profits. Thanks!
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A distribution pattern here?
TICK 5 min chart.png SPX broke a trendline and TICK went ...
Posted by junkmaylbox on 18th of Mar 2009 at 11:34 am
Ravun, It looks to me like we are seeing a distribution pattern here after the rally since 666 retraced 38% of the decline from January highs. What's to follow is a few days of choppy action and a slow decline to 38% of the latest move up. As an example of this action, I have the price action of any gold stock in the fall of last year. The key similarities are the V-shaped action during a rise and slow but steady decline. Is this your projected course of action? I am trying to make sense of this in real terms of buying and then taking profits. Thanks!