Posted by billrosen on 7th of Oct 2009 at 01:10 pm
FAZ working on a somewhat symmetrical H&S pattern on a the
10 day 15 minute chart, neck line break is just under 20, pattern
measures to about 16...right shoulder is getting a bit extended so
it would need to breakdown soon for pattern to be valid
Bill, here's a 60 minute GET chart of Faz as of the close
today, 10/07/09. I've been watching that pattern emerge
today also. It wouldn't take much, i.e., GS going to
200 would get FAZ to 16 in a NY minute. And
the way GS recommends the banks and the banks recommend GS,
I'd say I like the trade as you pointed it out. Take
care. p.
I see your logic but you have to remember the faz is at the
bottom of a range....HS works great at the top of a pattern...but
the bottom???? never seen that work out...I would call faz more
like working on a double bottom and base...look for this to trade
back to 50+ by March 2010
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FAZ working on a somewhat
Posted by billrosen on 7th of Oct 2009 at 01:10 pm
FAZ working on a somewhat symmetrical H&S pattern on a the 10 day 15 minute chart, neck line break is just under 20, pattern measures to about 16...right shoulder is getting a bit extended so it would need to breakdown soon for pattern to be valid
Bill, here's a 60 minute GET
Posted by Peridot on 7th of Oct 2009 at 05:53 pm
Bill, here's a 60 minute GET chart of Faz as of the close today, 10/07/09. I've been watching that pattern emerge today also. It wouldn't take much, i.e., GS going to 200 would get FAZ to 16 in a NY minute. And the way GS recommends the banks and the banks recommend GS, I'd say I like the trade as you pointed it out. Take care. p.
Title: ya but bottom of
Posted by corbincj on 7th of Oct 2009 at 01:19 pm
I see your logic but you have to remember the faz is at the bottom of a range....HS works great at the top of a pattern...but the bottom???? never seen that work out...I would call faz more like working on a double bottom and base...look for this to trade back to 50+ by March 2010