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	<title>Technical Analysis of Stock Trends &#187; oct09</title>
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	<link>http://www.edwards-magee.com</link>
	<description>The Foundation Upon Which Technical Analysis is Built - WHC Bassetti</description>
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		<title>Fool&#8217;s errand.</title>
		<link>http://www.edwards-magee.com/2009/10/30/fools-errand/</link>
		<comments>http://www.edwards-magee.com/2009/10/30/fools-errand/#comments</comments>
		<pubDate>Fri, 30 Oct 2009 17:34:56 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[hedge]]></category>
		<category><![CDATA[oct09]]></category>
		<category><![CDATA[short?]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=1309</guid>
		<description><![CDATA[At 10:27 San Francisco time with the market looking like this we increased our hedges and are now net short the indices.  As we said earlier attempting to trade these minor waves is a fool&#8217;s errand.  Of course we have an analysis, and it is based on the earlier intraday chart, which shows a prevailing [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>Bulls retreat, noses bloodied.</title>
		<link>http://www.edwards-magee.com/2009/10/30/bulls-retreat-noses-bloodied/</link>
		<comments>http://www.edwards-magee.com/2009/10/30/bulls-retreat-noses-bloodied/#comments</comments>
		<pubDate>Fri, 30 Oct 2009 16:43:48 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[hedge]]></category>
		<category><![CDATA[indu]]></category>
		<category><![CDATA[oct09]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=1305</guid>
		<description><![CDATA[30 minute chart of Dow, last 10 days.  So we put a partial hedge back on.  We&#8217;re beginning to feel like day traders and we don&#8217;t like it at all.  Yesterday appeared to break the 10 day down trend but today appears to cancel yesterday.  We are beginning to feel that some serious bear attacks [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Bears retreat, noses bloodied.</title>
		<link>http://www.edwards-magee.com/2009/10/29/bears-retreat-noses-bloodied/</link>
		<comments>http://www.edwards-magee.com/2009/10/29/bears-retreat-noses-bloodied/#comments</comments>
		<pubDate>Thu, 29 Oct 2009 17:51:27 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[hedge]]></category>
		<category><![CDATA[indu]]></category>
		<category><![CDATA[oct09]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=1301</guid>
		<description><![CDATA[What a difference a day makes.  This looks to us like the end of the flush, so we lifted our hedges. Don&#8217;t get too comfortable though.  We think there re a lot of smart traders short, though squeezed, and they are desperately looking for reinforcements to drive the market down.  Too bad they can&#8217;t analyze [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Bears on the prowl.</title>
		<link>http://www.edwards-magee.com/2009/10/26/bears-on-the-prowl/</link>
		<comments>http://www.edwards-magee.com/2009/10/26/bears-on-the-prowl/#comments</comments>
		<pubDate>Mon, 26 Oct 2009 18:07:51 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[hedge]]></category>
		<category><![CDATA[indu]]></category>
		<category><![CDATA[oct09]]></category>
		<category><![CDATA[spy]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=1293</guid>
		<description><![CDATA[The last few days there have been signs that the bears are on the prowl.  Wednesday in the last hour of trading (which is when the bears come out to play) the Dow dropped like it had stepped into an elevator shaft.  Today a promising rally (as we write this at 11am San Francisco time) [...]]]></description>
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		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Dow waves roll on&#8230;</title>
		<link>http://www.edwards-magee.com/2009/10/22/dow-waves-roll-on/</link>
		<comments>http://www.edwards-magee.com/2009/10/22/dow-waves-roll-on/#comments</comments>
		<pubDate>Thu, 22 Oct 2009 18:11:21 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[dowwaves]]></category>
		<category><![CDATA[oct09]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=1287</guid>
		<description><![CDATA[Since March 9 the Dow has made an orderly march upwards, if not an April upwards.  Wave studies are always interesting so it is interesting to observe what is happening here in the march, and also in this October. The first wave  rolled 47 days, and was followed by 23, 10, 14 and 12 (current, [...]]]></description>
		<wfw:commentRss>http://www.edwards-magee.com/2009/10/22/dow-waves-roll-on/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>FNM &#8212; the game continues</title>
		<link>http://www.edwards-magee.com/2009/10/21/fnm-the-game-continues/</link>
		<comments>http://www.edwards-magee.com/2009/10/21/fnm-the-game-continues/#comments</comments>
		<pubDate>Wed, 21 Oct 2009 15:37:15 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[fnm]]></category>
		<category><![CDATA[oct09]]></category>
		<category><![CDATA[panicselloff]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=1283</guid>
		<description><![CDATA[This trade was not as skillfully managed as might have been.  The general explanation is that our panic sell off model is not as well articulated as our other systems because generally we&#8217;re not much interested in this kind of trading. Here is the observation:  Never buy the first day of the plunge.  Wait.  See [...]]]></description>
		<wfw:commentRss>http://www.edwards-magee.com/2009/10/21/fnm-the-game-continues/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Houston we have a problem&#8230;</title>
		<link>http://www.edwards-magee.com/2009/10/19/houston-we-have-a-problem/</link>
		<comments>http://www.edwards-magee.com/2009/10/19/houston-we-have-a-problem/#comments</comments>
		<pubDate>Mon, 19 Oct 2009 18:42:07 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[flag]]></category>
		<category><![CDATA[fnm]]></category>
		<category><![CDATA[FRE]]></category>
		<category><![CDATA[oct09]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=1275</guid>
		<description><![CDATA[Who is Keefe Bruyette and Woods, and does anyone care? (Which way were they in the great bear market?)  Well obviously someone cares because they sent FNM and FRE down about 17% on a gap with a report saying the shares were worthless.  We have sent an email to enforcement@sec.gov  (and you should too) asking [...]]]></description>
		<wfw:commentRss>http://www.edwards-magee.com/2009/10/19/houston-we-have-a-problem/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Tipping point?  Or tripping point?</title>
		<link>http://www.edwards-magee.com/2009/10/18/tipping-point-or-tripping-point/</link>
		<comments>http://www.edwards-magee.com/2009/10/18/tipping-point-or-tripping-point/#comments</comments>
		<pubDate>Mon, 19 Oct 2009 00:18:40 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[indu]]></category>
		<category><![CDATA[oct09]]></category>
		<category><![CDATA[spx]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=1271</guid>
		<description><![CDATA[At this moment we don Át this moment we don´t know whether we are at the tipping point, or at the tripping point.  The Dow and the S&#38;P tiptoed across the magic mark (Dow) of 10000 and hesitated.  The incessant baying of the punditry makes one think tha the trend will continue &#8212; because they [...]]]></description>
		<wfw:commentRss>http://www.edwards-magee.com/2009/10/18/tipping-point-or-tripping-point/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Gusher!  Oil, Oil in&#8230;.</title>
		<link>http://www.edwards-magee.com/2009/10/16/gusher-oil-oil-in/</link>
		<comments>http://www.edwards-magee.com/2009/10/16/gusher-oil-oil-in/#comments</comments>
		<pubDate>Fri, 16 Oct 2009 17:37:28 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[oct09]]></category>
		<category><![CDATA[oil]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=1263</guid>
		<description><![CDATA[OIL.  As many readers have pointed out OIL has broken out of a triangle and we have a clear buy signal.  But frankly we think the oil rush is over.  The probability of oil returning to its former heights are slim and none.  This is now a trading market and the probable move here is [...]]]></description>
		<wfw:commentRss>http://www.edwards-magee.com/2009/10/16/gusher-oil-oil-in/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Buy! Buy! Buy!  Well, enough of hype, but in fact there is a Dow buy signal today</title>
		<link>http://www.edwards-magee.com/2009/10/14/buy-buy-buy-well-enough-of-hype-but-in-fact-there-is-a-dow-buy-signal-today/</link>
		<comments>http://www.edwards-magee.com/2009/10/14/buy-buy-buy-well-enough-of-hype-but-in-fact-there-is-a-dow-buy-signal-today/#comments</comments>
		<pubDate>Wed, 14 Oct 2009 17:48:48 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[fas]]></category>
		<category><![CDATA[oct09]]></category>
		<category><![CDATA[upro]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=1259</guid>
		<description><![CDATA[In two minutes traders drove the Dow 80 points through the previous high and  then above 10,000 (after this chart).  These are two very important points.  As we all know the market can crash tomorrow.  And if it does we will hedge or exit.  Today we buy. This occurred as we were preparing to post [...]]]></description>
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