Thursday, October 9, 2008

Update On Recent Short Setups



4 comments:

MatchPointTrader said...

The market is so screwed up again today that almost anything can be shorted now at any ridiculously low price - i hate it. Please do update if you see the capitulation with volume that you were looking for. Thanks.

psy said...

that AIG did end up breaking to the downside...ominous sign for the market even from here...

Cliffynator said...

So, Stewie...Does the "Price Target" formula work for flat-bottomed triangles? For example, this rule would target IVGN at $26, WGOV at $19, and LVS at $1!!! I've looked through only a few technical analysis books, but don't recall this formula. Where'd you find it?

Stewie said...

cliff: these targets are hard and set rules by any means but this what they teach you in technical analysis(TA) 101. so the targets you gave are accurate if you apply TA 101.

Check out this link for target setting on triangle breaks:

http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:descending_triangle_

Blog Archive