Tag Archives: jul09
Believe it or not…
Posted on Jul 22, 2009 by WHC Bassetti.
As Ripley used to say –believe it or not, and it is difficult to believe, but the March rally is intact, and so is the wave pattern.
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Head and shoulders beheaded?
Posted on Jul 14, 2009 by WHC Bassetti.
Readers raise the question, do the last two days invalidate the head and shoulders? Not at all. The trendline from the top in June is intact, the pattern of lower highs and lower lows is intact and a few more days work on the right shoulder would add to symmetry.
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Minding your Ps and QQQQs…
Posted on Jul 11, 2009 by WHC Bassetti.
Here’s an interesting idea. Shorting the Qs with QID. It looks like a pretty low risk trade to us. The safest stop is tight under the nearby low. The last few days there were obviously some people shorting — see the power bars and the gaps. If this doesn’t work remember you didn’t hear it here.
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Noted technical analyst WHC Bassetti has over 40 years' experience in the financial markets and is Malcom S.M. Watts III Adjunct Professor of Finance and Economics at Golden Gate University. He is editor of the Ninth Edition of Technical Analysis of Stock Trends, widely considered to be one of the true classics of market analysis.
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