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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj


Sunday 30 September 2012

Needs a trip to the lower bollinger band ?


Nice chart from Ron Walker





Watch next week to see if wedge support and the 34 dma can hold.Tuesday's black candle was a  sell signal
in line with what was discussed in last weekends post, where I wrote
 " Looks like an overthrow,the initial candle was a shooting star/inverted hammer,then 4 NR candles (narrow range) then a doji. Needs a black candle with a close below Thursdays low to suggest a reversal pattern. As Jeff Cooper teaches,the 7th day is often a reversal."
  So Tuesdays high is a reasonable invalidation point or stop-loss level for shorts



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