Monday, July 14, 2008

V Ready To Tumble

7 comments:

Tizzler said...

How about an explanation please?

Stewie said...

what do you mean?

Tizzler said...

I mean, can you please explain why "V is Ready to Tumble"?

Stewie said...

well. coming into today i was very bearish on financial stocks and V was setting up in a descending triangle and looked ready to drop. It dropped over $5 at one point before rebounding a bit with the markets.

Anonymous said...

I'm bearish on financials as well, but I'm not sure I'd consider V a financial.

Could you point out on your chart where you see a descending triangle?

Thanks.

Stewie said...

it's on the chart. it's not a perfect text book descending triangle but if you squint your eyes, you'll see it. lol. You are right V and MA aren't true 'financial' companies but they were related enough to the industry to take a beating. i was confident of that.

Fatespilot said...

V and MA also have good correlation to the SKF. Looks like a duck, walks like a duck...

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