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Yuki,
Not familiar with acronym AFCSI.
Nor can I see your Cannon chart (just our ADR).
But otherwise, I agree with Jim.
I personally place a lot more value in conformance of Price action to
MA and Trendline support than I do in trying to rub my eyes real hard
so that I might make out a H&S pattern or a C&H pattern.
JMO... But good fortune no matter how you play it.
Phsst
PS. The bounce Monday afternoon carried forward for an hour or so this
morning & my QQQ trade worked out OK. No bounce this afternoon, so I
don't anticipate a bounce Wed morning.
--- In amibroker@xxxxxxxxxxxxxxx, Yuki Taga <yukitaga@xxxx> wrote:
> Hi Jim,
>
> Wednesday, November 19, 2003, 12:17:00 PM, you wrote:
>
> j> Yuki, as a trader I wouldn't initiate a long position in Canon until
> j> it bounces off the 200 day ma (not far away)
> j> The Nikkei is tanking again. The Dow Nas and SP500 broke down today
> j> through their 50 day ma, and up trend lines, WITHOUT an eod rally,
> j> IBM had the 20 day cross down through the 50 day, we just arrested 48
> j> traders for fraud etc etc etc...It is ugly out there....
> j> Why don't you just cuddle up to a couple stacks of hundred dollar
> j> bills and call it a day!
>
> j> I am short a semi stock, balance in cash.
>
> j> Regards and Good luck whatever you decide
> j> Jim
>
> I am certain you are right today. ^_^ I would not take the position
> today even if I was using TJ's money. ^^_^^ I am just sort of
> thinking out loud and looking ahead. (We are well through the 200
> SMA here, by the way -- which is what tempts me somewhere around
> here. I am too wary to buy right on the 200. It's another version
> of AFCSI.)
>
> Goodness we are tanking again, aren't we. Seems we have to teach
> another generation of traders not to try and catch falling knives,
> like they did yesterday.
>
> We don't use hundreds here. Ten thousands are so much more cuddly.
> ^_-
>
> Best,
>
> Yuki
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