Thursday, March 12, 2009

FAZ Crashing To Strong Support Levels


5 comments:

sJ said...

I would wait for one big push down around 32-35$ before taking a long position in FAZ...

bear market tends to have violent rallies every now n then..

Stewie said...

momo def. with the bulls now. i'll watch this chart and look for morning gap lower on it to enter.

montrealjain said...

Stewie...

Think faz holds the 38 level and bounces into the low 50s. The finnies have come too far too fast and they need to come in some. Now that the media has shifted and become all bullish, I expect a leg down to test 690s on spx before a sustained rally. However, should faz violate the mid 30s, all bets are off. Gotta love how manic the action is, one day we are headed to hell in a hand basket and the next rallying like its 1999! Hope all is well mate.

MJ

Stewie said...

mj. yes they have quite a ways. but the pendulum swings both ways. so they might over shoot them to the upside this time. i am gonna use this FAZ chart a guide. ia am sure a decent rip higher will surface in FAZ soon.

Stewie said...

MJ: you get into FAZ yet? this morning's weakness was a nice little gift. hope you got some.

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