Market Watch for week of 8/17/2009
Check last week's thread to catch up. I am sorry that we had to end the thread for last week. It was a huge week and there is tons of great information there to continue with and unanswered posts.
Anyway, here is the new thread for the week.
Anybody that is reading or lurking in this thread is welcome to post. We are a very peaceful investment team here and we all help each other in any way that we can.
If this is your first time here...then welcome!
From the crew that resides within these walls...have fun and help each other learn and hopefully succeed!
Disclaimer for this thread: Always do your own due diligence (research). None of we people in here are investment advisers or brokers, or anything that resembles a professional when it comes to dealing with stocks. If you have any questions about any stock or anything said in here, check it out with your broker. We are just a bunch of people trying to make some money, just like anyone else. What you do is your sole responsibility and not mine or that of anyone else that posts in here. This is simply a discussion group and nothing more. Stocks are very risky and you could lose all of your money. Seek professional advice before doing anything whatsoever. We are amateurs in here and are wrong most of the time. Do not take any chances with our advice to each other or our self-seeking and self-fulfilling comments.
Umbrellas, descending triangle and more
I am going to re-post also. I got caught in the "lockdown" also.
The past 4 days have been Umbrellas. That means that there could be a reversal due to indecision by buyers. It means that sellers were winning out during the day, but the buyers managed to push the price back to the opening price at the end of the day.
After long declines this can be a bullish indicator, but it is an indicator that has to be confirmed with a turn either in a bullish or bearish reversal. The accuracy is rated at medium for dependability.
I mixed my words up on the chart. I meant to say -50 or less...Northward!