Showing posts with label 15 Day Bear Potato. Show all posts
Showing posts with label 15 Day Bear Potato. Show all posts

Tuesday, March 3, 2009

New Six Year Low

"About Time Someone Bit Back!"
2D, 5m. - Mar. 3 - Fibonacci Retracement (resistance) held at 38 & 50% and then there was a good CCI signal for a "JA" trade to the downside (Gold Spots).
20D, 60m. - Mar. 3 - Day 15 of Bear Potato.  Close was at new lows of the past 6 years.
5M, Daily - Mar. 3 - Nov. lows did not offer support.  Close is at new 6 year low.  Trend continues to be down.  What more can be said.  The market is very oversold (note CCI) so short positions can be risky for option trading.