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Thread: 12-13-11 Close Comments

  1. #1
    Join Date
    Dec 1969
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    Tarzana, CA
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    962

    12-13-11 Close Comments

    We got an S9 signal today, a close below the 50-day moving average. The brings the number of buy signals being held in our pocket for a possible FTD to zero. All in all not a positive development. When this rally started it began with a low percentage of stocks showing heavy distribution. I have found these set ups to be failure prone. It is probably an indication of complacency. Fear is a much safer place to begin a rally.

    So far this rally is moving directly down the path of the previous 5 bear markets, a stall at the 200-day on the first bear market rally and then failure. We may not be done dancing with the 200-day. This could grind on for a long time. Eventually we we see a decisive break up or down.

    Given what I believe above, this is no time to fool around with a long position in the market. I have been short BIDU.
    Mike Scott
    Cloverdale, CA

  2. #2
    Mike,

    Thank you. When did you short BIDU? I saw it but can't recall when or where I saw it?

    Regards,

    Pablo

  3. #3
    Join Date
    Dec 1969
    Location
    Tarzana, CA
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    962
    Quote Originally Posted by barbados11 View Post
    Mike,

    Thank you. When did you short BIDU? I saw it but can't recall when or where I saw it?

    Regards,

    Pablo
    Pablo,
    I shorted BIDU on 12/6/11 at 133.39. I would like to have gotten it closer to the 200-day but close enough.
    Mike Scott
    Cloverdale, CA

  4. #4
    Very nice Mike. I had seen it but was going crazy not remembering) Thanks.

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