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	<title>Technical Analysis of Stock Trends &#187; Letters</title>
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	<description>The Foundation Upon Which Technical Analysis is Built - WHC Bassetti</description>
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		<title>Apples and oranges &#8212; perhaps, tulips&#8230;</title>
		<link>http://www.edwards-magee.com/2012/02/03/apples-and-oranges-perhaps-tulips/</link>
		<comments>http://www.edwards-magee.com/2012/02/03/apples-and-oranges-perhaps-tulips/#comments</comments>
		<pubDate>Sat, 04 Feb 2012 00:42:15 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[feb12]]></category>
		<category><![CDATA[pnf]]></category>
		<category><![CDATA[QQQ]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=3313</guid>
		<description><![CDATA[We have a short time ago bought and remarked on the Qs.  Here is the story since March of 09.  That trendline, when broken (as in all the indices, created an airpocket into which the Qs were sucked, and then an extended sideways congestion.  As may be seen here prices have burst out of the [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Slow down and smell the tulips&#8230;</title>
		<link>http://www.edwards-magee.com/2012/01/30/slow-down-and-smell-the-tulips/</link>
		<comments>http://www.edwards-magee.com/2012/01/30/slow-down-and-smell-the-tulips/#comments</comments>
		<pubDate>Mon, 30 Jan 2012 18:51:13 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[facebook]]></category>
		<category><![CDATA[jan12]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=3307</guid>
		<description><![CDATA[And time to reprise our famous lecture about tulips which first saw the light of day in 1999 in our seminars at U.C. Berkeley Extension.  When we first started talking about tulips students thought they had wandered into a gardening class by mistake. Not. The classic text is Extraordinary Popular Delusions and the Madness of [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Achtung! Don&#8217;t go to sleep here!</title>
		<link>http://www.edwards-magee.com/2012/01/28/achtung-dont-go-to-sleep-here/</link>
		<comments>http://www.edwards-magee.com/2012/01/28/achtung-dont-go-to-sleep-here/#comments</comments>
		<pubDate>Sat, 28 Jan 2012 19:14:14 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[fxe]]></category>
		<category><![CDATA[indu]]></category>
		<category><![CDATA[jan12]]></category>
		<category><![CDATA[vix]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=3300</guid>
		<description><![CDATA[There is never any lack of disagreement amongst the punditry.  This is also true for technical analysts.  And for fundamental analysts.  And for analysts of all other stripes (and spots).  That&#8217;s why we have horse races and super bowls and the stock markets.  In the chart above we see one of the objects of disagreement [...]]]></description>
		<wfw:commentRss>http://www.edwards-magee.com/2012/01/28/achtung-dont-go-to-sleep-here/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Disregard this letter also.</title>
		<link>http://www.edwards-magee.com/2012/01/22/disregard-this-letter-also/</link>
		<comments>http://www.edwards-magee.com/2012/01/22/disregard-this-letter-also/#comments</comments>
		<pubDate>Mon, 23 Jan 2012 02:16:13 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[jan12]]></category>
		<category><![CDATA[spx.rule7]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=3296</guid>
		<description><![CDATA[http://stockcharts.com/h-sc/ui?s=$SPX&#38;p=D&#38;yr=0&#38;mn=6&#38;dy=0&#38;id=p40392582161&#38;a=254727527 You can use this link to see a larger chart. We haven&#8217;t stopped detesting forecasting, but there  is a question in the waves here that should at least be mentioned.  Our last comment on potential for this trend, using the Wyckoff measuring method,  forecast a wave high of 1860.    While this seems fanciful to [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>A Dow buy signal.</title>
		<link>http://www.edwards-magee.com/2012/01/19/a-dow-buy-signal/</link>
		<comments>http://www.edwards-magee.com/2012/01/19/a-dow-buy-signal/#comments</comments>
		<pubDate>Thu, 19 Jan 2012 18:30:48 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[indu.jan12]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=3290</guid>
		<description><![CDATA[It is impossible to interpret yesterday&#8217;s action as anything but a buy signal in the Dow.  Prices went to a new recent high on a power bar &#8212; and &#8212; the downtrend line from March was broken on the same bar.  We are buying for our personal account.  Taking out the March highs will be [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Disregard this letter.</title>
		<link>http://www.edwards-magee.com/2012/01/16/disregard-this-letter/</link>
		<comments>http://www.edwards-magee.com/2012/01/16/disregard-this-letter/#comments</comments>
		<pubDate>Mon, 16 Jan 2012 04:44:49 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[jan12]]></category>
		<category><![CDATA[spx.pnf]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=3282</guid>
		<description><![CDATA[Occasionally there are times when we are required to &#8211;like it or not &#8212; act like a technical analyst.  This is one of those times, so we warn our readers so they can be prepared to take the letter with a large grain of salt. Since the head and shoulders top curse was fulfilled the [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Psst. Hey Meester want to see some dirty stocks?</title>
		<link>http://www.edwards-magee.com/2012/01/07/psst-hey-meester-want-to-see-some-dirty-stocks/</link>
		<comments>http://www.edwards-magee.com/2012/01/07/psst-hey-meester-want-to-see-some-dirty-stocks/#comments</comments>
		<pubDate>Sat, 07 Jan 2012 19:46:27 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[bac]]></category>
		<category><![CDATA[C]]></category>
		<category><![CDATA[jan12]]></category>
		<category><![CDATA[jpm]]></category>
		<category><![CDATA[kbe]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=3275</guid>
		<description><![CDATA[Is there something shameful about talking about bank stocks?  Or do you just get enraged when contemplating the obscenities of sub-prime loans, manipulation of minorities into unfavorable loan conditions, or robo signers?  Or do you just get high blood pressure contemplating what they did to the country and the economy?  Besides that we&#8217;re still personally [...]]]></description>
		<wfw:commentRss>http://www.edwards-magee.com/2012/01/07/psst-hey-meester-want-to-see-some-dirty-stocks/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Mind your Es and Qs&#8230;.</title>
		<link>http://www.edwards-magee.com/2012/01/05/mind-your-es-and-qs/</link>
		<comments>http://www.edwards-magee.com/2012/01/05/mind-your-es-and-qs/#comments</comments>
		<pubDate>Thu, 05 Jan 2012 19:21:14 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[eur]]></category>
		<category><![CDATA[fxe]]></category>
		<category><![CDATA[jan12]]></category>
		<category><![CDATA[QQQ]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=3271</guid>
		<description><![CDATA[Impossible to ignore the Qs. Burst out of a big triangle.  Big sideways base. We are buying some. &#160; Also impossible to ignore the downtrend in the euro, which we have remarked on numerous times.  Now another downgap. We are shorting some, using the EUO ETF.  Stops shortly.  Have to rush down to the pit.]]></description>
		<wfw:commentRss>http://www.edwards-magee.com/2012/01/05/mind-your-es-and-qs/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Wake up!  Wake up! Santa Claus is finally here.</title>
		<link>http://www.edwards-magee.com/2012/01/03/wake-up-wake-up-santa-claus-is-finally-here/</link>
		<comments>http://www.edwards-magee.com/2012/01/03/wake-up-wake-up-santa-claus-is-finally-here/#comments</comments>
		<pubDate>Tue, 03 Jan 2012 20:23:00 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[gld]]></category>
		<category><![CDATA[jan12]]></category>
		<category><![CDATA[slv]]></category>
		<category><![CDATA[spx]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=3267</guid>
		<description><![CDATA[Talk about a roman candle for new year&#8217;s. Not that we believe it.  We keep telling you that we don&#8217;t believe anything except the sports scores.  They wouldn&#8217;t dare lie about those. But after months of lying signals and head fakes this looks like a real signal.  So we bought the S&#38;P the gold and [...]]]></description>
		<wfw:commentRss>http://www.edwards-magee.com/2012/01/03/wake-up-wake-up-santa-claus-is-finally-here/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Good riddance to the old year. Happy (and prosperous) New Year.</title>
		<link>http://www.edwards-magee.com/2011/12/28/good-riddance-to-the-old-year-happy-and-prosperous-new-year/</link>
		<comments>http://www.edwards-magee.com/2011/12/28/good-riddance-to-the-old-year-happy-and-prosperous-new-year/#comments</comments>
		<pubDate>Wed, 28 Dec 2011 23:12:44 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[dec11]]></category>
		<category><![CDATA[spx]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=3260</guid>
		<description><![CDATA[Since this moment is the product of the past, here is the past.  The bear market of 08-09.  The dominant fact here is the trendline from March 09.  Not to mention over 700 days of bull market.  But after that, in June prices broke the trendline and then all hell broke loose.  There were several [...]]]></description>
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		<slash:comments>0</slash:comments>
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