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Post by theMIST on Apr 9, 2012 14:06:30 GMT -5
I agree Jack that BAC is in a downtrend but I believe it fills the gaps to the upside first before the one in the 8.50s. For now it needs to get above 9.01 with conviction and so far it is lagging. IMO
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Post by tendermyshares on Apr 9, 2012 14:09:38 GMT -5
For Bernanke speech tonite:
Slight lyrics rewrite:
We are the world
We are the children
We are the ones who are not France, and we're not Spain, not even Belgium.
There's a choice we're making
We choose to not be Greece
It's true, and we're not Portugal or Italy....
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Post by jack on Apr 9, 2012 14:18:58 GMT -5
$USD's down; Markets' down.....have we gone thru a worm hole?
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Post by Ralf on Apr 9, 2012 14:38:45 GMT -5
I agree Jack that BAC is in a downtrend but I believe it fills the gaps to the upside first before the one in the 8.50s. For now it needs to get above 9.01 with conviction and so far it is lagging. IMO Your scenario is most likely. Market will likely retest its recent high before dropping further, dragging BAC with it. Problem I see with BAC is that it really broke out around 8.00, and ran 25% in one week (if memory serves me correctly). A move like that does NOT go without getting answered in the form of a backtest. Delayed, yes, but not unanswered. Could well be "Sell in May" before that happens, but Fins likely to be a very wild ride the next few weeks as they get caught in a vicious tug-o-war. Hang on. Sellers leaning hard into BAC here to keep it down for the close. |
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Post by jack on Apr 9, 2012 14:58:05 GMT -5
"Ughhhhh Scottie! We could use some serious power up right about now...."
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