Kiss backs and range
So the triangle got broken on the Dia daily chart. However the previous lows have not been met yet. I had hoped that the kiss back would be bigger. That is, the up trend off of the lows of 03/10/08 would be closer to the back of the up trend that formed the bottom part of the triangle. But even so my work shows a sell signal out of syncronisity. (That
is its presenting a divergence between the indicators . I do not play those usually. But thats imo.) This fast price movement makes it hard to find a comfortable place to enter The range is bigger here and the ATR is up. Thats good for the intra-day traders. However we're at relatively high levels here already.
The blogs and mass- media are covering the negative news well enuf. Tho I was particularly interested in Bear Sterns. Of course the fed has to do what it has to. After all its only interested in helping its own interests. The federal conumdrum aside, I remain bearish here and will sell rallies when I can and try to let it run.
best to you and yours
ryeone
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