looking at the monthly chart you will see that
price stopped at the long term target price of 86 and retraced as it
should. The shorter cycle started higher and the first price objective
for this move higher is 80.37 with the second price objective at 89.61.
for price to start lower it should have to go through 73 and then the first
price objective would be 67. There is currently upside pressure being
applied to price at this time on this chart.
The daily chart has upside pressure being applied
to it also. the indicator is over extended and trying to turn down at
this time. Price has been stopped by the second price objective for the
move up. For a move down to start price would have to go through 77 and
then the first price objective would be 75.
If you are long now is the time to take profits
and wait for the next move, up or down. If you are flat there is nothing
to do at this time. If you are long and like the position you might
think about buying some protection. The 78 puts are trading at
value.
Just one man's opinion. Ira
----- Original Message -----
Sent: Monday, May 19, 2008 2:37
PM
Subject: [RT] RE: efa analysis
Ben, ira. clyde ......
THANK YOU FOR SHARING YOUR CHARTS AND
INSIGHTS
Iq
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