Friday, January 30, 2009

Bear Day One (or Two) - JA30 - The Bear has won out!  We now have a new Bear Potato confirmed on the Hourly chart.  The 30 minute chart committed yesterday and the 60 minute today.  Our experience has demonstrated the safety of waiting on confirmation on the Hourly.
20D, 60m. - JA30 - The chart above clearly shows the prior Bear & Bull Potatoes.  The latest crossover on the Moving Averages on the Hourly chart confirms the move already established on the 30 m. chart seen below.  All charts can be enlarged by "clicking on the chart."
5D, 30 m. - JA30 - The 30 min. crossover occurred yesterday.  30 m. trades can be taken but at greater risk.  Prudence calls for confirmation on the Hourly.  You may feel you are missing part of the move but you can manage your position with much more confidence.
5D, 15 m. - JA30 - Two day channel to the downside.  Bear Potato is underway.  Our observations have been that Potatoes usually last 3 days or more.  
3M, Daily - JA30 - Primary Trend is Bearish on this long term chart.  It is always wise to keep the Primary Trend in mind when managing swing trades or intraday trades.