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	<title>Technical Analysis of Stock Trends &#187; indu</title>
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	<description>The Foundation Upon Which Technical Analysis is Built - WHC Bassetti</description>
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		<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>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Favorable signs.  At last signs of Santa Claus?</title>
		<link>http://www.edwards-magee.com/2011/12/23/favorable-signs-at-last-signs-of-santa-claus/</link>
		<comments>http://www.edwards-magee.com/2011/12/23/favorable-signs-at-last-signs-of-santa-claus/#comments</comments>
		<pubDate>Fri, 23 Dec 2011 21:00:36 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[dec11]]></category>
		<category><![CDATA[indu]]></category>
		<category><![CDATA[spx]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=3254</guid>
		<description><![CDATA[The Dow is taking out the recent high &#8212; at the lower horizontal line, and apparently will take out the next high as soon as it hears sleigh bells.  Perhaps more importantly it looks like this formation here from early November is a reverse head and shoulders (Kilroy) and a definitive break above the neckline [...]]]></description>
		<wfw:commentRss>http://www.edwards-magee.com/2011/12/23/favorable-signs-at-last-signs-of-santa-claus/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Total confusion.  Indicators galore.  Nobody knows nothing.</title>
		<link>http://www.edwards-magee.com/2011/09/03/total-confusion-indicators-galore-nobody-knows-nothing/</link>
		<comments>http://www.edwards-magee.com/2011/09/03/total-confusion-indicators-galore-nobody-knows-nothing/#comments</comments>
		<pubDate>Sun, 04 Sep 2011 01:54:37 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[fxf]]></category>
		<category><![CDATA[indu]]></category>
		<category><![CDATA[sep11]]></category>
		<category><![CDATA[slv]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=3061</guid>
		<description><![CDATA[Barron&#8217;s is touting longs.  Joe Schmoo is getting short.  Dow Theory guys are buying.  Short interest is at historic high.  (A word about &#8220;negative&#8221; indicators here.  Some bulls take huge short interest as a contrarian signal that the crowd has to be wrong and so big short interest means a bull run is about to [...]]]></description>
		<wfw:commentRss>http://www.edwards-magee.com/2011/09/03/total-confusion-indicators-galore-nobody-knows-nothing/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Zip Markets&#8230;</title>
		<link>http://www.edwards-magee.com/2011/08/31/zip-markets/</link>
		<comments>http://www.edwards-magee.com/2011/08/31/zip-markets/#comments</comments>
		<pubDate>Wed, 31 Aug 2011 17:04:26 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[aug11]]></category>
		<category><![CDATA[indu]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=3047</guid>
		<description><![CDATA[When you want to send a big file to someone you zip-compress it.  The markets have zipped a crash and recovery (maybe) into 31 days, if you can believe that.  Faster than the fastest hands at the good old shell game the market compressed an 15.84% downwave into 14 days, then compressed a bottom and [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>Psychoid markets.  Psychoid politics.  Most fun since granma fell in the well.</title>
		<link>http://www.edwards-magee.com/2011/08/27/psychoid-markets-psychoid-politics-most-fun-since-granma-fell-in-the-well/</link>
		<comments>http://www.edwards-magee.com/2011/08/27/psychoid-markets-psychoid-politics-most-fun-since-granma-fell-in-the-well/#comments</comments>
		<pubDate>Sat, 27 Aug 2011 18:27:39 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[aug11]]></category>
		<category><![CDATA[indu]]></category>
		<category><![CDATA[tradingrange]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=3042</guid>
		<description><![CDATA[Courtesy of Robert Shouet (we don&#8217;t even look for these kinds of statistics) a member of  a chat group we read:  Morning Fri:  decliners exceed gainers 16.67-1.  Not to worry.  Afternoon gainers exceed losers 16-1.  NYSE NET decliners were -1922 morning and afternoon were +2055. We have often described these kinds of markets as bungee [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Still in the frying pan&#8230;</title>
		<link>http://www.edwards-magee.com/2011/07/25/still-in-the-frying-pan/</link>
		<comments>http://www.edwards-magee.com/2011/07/25/still-in-the-frying-pan/#comments</comments>
		<pubDate>Tue, 26 Jul 2011 00:10:01 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[compq]]></category>
		<category><![CDATA[indu]]></category>
		<category><![CDATA[jul11]]></category>
		<category><![CDATA[spx]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=2969</guid>
		<description><![CDATA[We crawled out of our nuclear fallout shelter, blinked in the sun and said &#8212; how about that.  They haven&#8217;t destroyed the market yet.  We immediately rushed out and bought gold to hedge our risks.  And thanked the market gods that they gave us a chance to do this.  Mamon akbar!  Mamon akbar!  (As everyone [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Treachery &#8212; in Washington? &#8212; in the market?</title>
		<link>http://www.edwards-magee.com/2011/07/22/treachery-in-washington-in-the-market/</link>
		<comments>http://www.edwards-magee.com/2011/07/22/treachery-in-washington-in-the-market/#comments</comments>
		<pubDate>Fri, 22 Jul 2011 21:06:11 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[fxe]]></category>
		<category><![CDATA[fxf]]></category>
		<category><![CDATA[gld]]></category>
		<category><![CDATA[indu]]></category>
		<category><![CDATA[jul11]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=2959</guid>
		<description><![CDATA[We have remarked on the unreliability &#8212; treachery if you will, or false signals &#8212; that are inherent in mule &#8211;or sideways&#8211; markets.  This may be seen at e above where the new high was quickly turned back on what should have been an acceleration.  That line, from March 09 is crucially important.  While broken [...]]]></description>
		<wfw:commentRss>http://www.edwards-magee.com/2011/07/22/treachery-in-washington-in-the-market/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Charlie Brown kicks football&#8230;</title>
		<link>http://www.edwards-magee.com/2011/07/20/charlie-brown-kicks-football/</link>
		<comments>http://www.edwards-magee.com/2011/07/20/charlie-brown-kicks-football/#comments</comments>
		<pubDate>Wed, 20 Jul 2011 19:02:46 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[gld]]></category>
		<category><![CDATA[indu]]></category>
		<category><![CDATA[jul11]]></category>
		<category><![CDATA[slv]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=2954</guid>
		<description><![CDATA[So far readers and traders who have followed Variant 1 of the Basing Points procedure are sitting in the catbird seat and enjoying the naked mud wrestling going on here.  Meanwhile we, being inveterate football players cannot resist when we see Lucy tee up the ball.  We have to kick it, and did going long [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Disbelief and denial&#8230; not just a river in Egypt&#8230;</title>
		<link>http://www.edwards-magee.com/2011/07/16/disbelief-and-denial-not-just-a-river-in-egypt/</link>
		<comments>http://www.edwards-magee.com/2011/07/16/disbelief-and-denial-not-just-a-river-in-egypt/#comments</comments>
		<pubDate>Sat, 16 Jul 2011 17:53:19 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[debtlimit]]></category>
		<category><![CDATA[indu]]></category>
		<category><![CDATA[jul11]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=2950</guid>
		<description><![CDATA[The market is sailing blithely on both &#8212; the Nile of disbelief and on denial of reality.  This may be no surprise.  After all when college educated (?) politicians deny climate change science and act like abstinence will solve the problem of  teen age sexuality who would expect them to be attached to reality when [...]]]></description>
		<wfw:commentRss>http://www.edwards-magee.com/2011/07/16/disbelief-and-denial-not-just-a-river-in-egypt/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Too late to hedge?</title>
		<link>http://www.edwards-magee.com/2011/07/10/too-late-to-hedge/</link>
		<comments>http://www.edwards-magee.com/2011/07/10/too-late-to-hedge/#comments</comments>
		<pubDate>Sun, 10 Jul 2011 18:53:55 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[hedge]]></category>
		<category><![CDATA[indu]]></category>
		<category><![CDATA[jul11]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=2933</guid>
		<description><![CDATA[We were of two minds about Friday&#8217;s action.  Our rational mind said, a natural reaction to a surging upwave.  Our irrational and paranoid mind (which got reinforced Sunday) was it looked funny.  Today, Sunday, the Times reports that Boehner has thrown in the towel on a deal with the White House on the debt ceiling&#8211; [...]]]></description>
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		<slash:comments>0</slash:comments>
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