Seeing Head and Shoulder patterns on many issues i follow, FWIW. We shall see if patterns mean anything anymore in this new market.
Trade em smart!
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12 comments:
CF Looks like a monster if it plays out. Roughly 97 for a target???
What does head and should imply? Good or bad sign?
Inverted head and shoulders like we're seeing now is a bullish reversal pattern. Normal H&S is bearish.
yeah I'd say ~$100 target for CF too, if I thought the ferts had anything left in them. Just don't think they do. Chart's busted - take a look at the 2 year.
yeah I'd say ~$100 target for CF too, if I thought the ferts had anything left in them. Just don't think they do. Chart's busted - take a look at the 2 year.
Hey Stewie, great bunch of charts. I just did a post on my blog about where folks can find a series of video tutorials on chart patterns.
http://marketmonksmusings.blogspot.com/2008/11/chart-patterns.html
MM
inverted head and shoulders is bullish, my target to it if it develops is SPY 1160, as crazy as that sounds. but its a rough measurement from neckline to head.
these are INVERSE H&S patterns and they opposite the H&S topping pattern. these patterns are usually seen as bottoming formations.
I enjoy your blog very much. However, can you elaborate on the money management method you employ when managing a trade? For example: (1) % capital risk per trade, (2) Setting of initial stop, (3) Moving stop to b/e, (3) Banking some profits, (4) Letting profits run.
Thanks, Ralph
Sky, I'm with you, CF definitely looks busted.
Although I am slightly bullish, people should be careful and not expect a great rally. There are still many worried and weak investors out there. Deleveraging means less money in stocks.
Thanks for the "heads up", Stewie. I'll be watching MBI for greater % gains. More risky tho', of course.
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