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Saturday, October 20, 2007 

The decline I was looking for - Be ready for Monday

There is a time where we must think by ourselves and follow our own thoughts, and I can tell that there is no better time than now to enter in the market, even when a lot of people tell you on phone “be careful man”, I said sorry Bears, I’m Bullish and I'll not change my position. Santa Claus Rally is coming and on Friday I started putting my bucks in the markets, for the long and fast run, it’s my thoughts…….This is not written in the stars……… Historically markets never lie..........let's see........

Chart courtesy of stockcharts

Chart courtesy of stockcharts

Nasdaq and SP500 closed near the lows of the day with a Big Sell-Off, both closed just under supports. Althrough there are many fears in the market right now, indices still trading in a Long Bullish Market, its 50 dma are still on top of 200 dma. I think short term bottom is here.....This is the decline I was looking for, I don't believe in a "Black Monday" next week, Friday was more a panik enviroment than anything else.

Chart courtesy of stockcharts

YHOO looks strong enough to move forward. Today was a good example !!! Looking at the technical chart the stock has been doing very well recently, as K line is on top of D line with MACD on top of signal line. Now that the stock is above 50 day and 200 day moving average more buyers should be coming.

Chart courtesy of stockcharts

Sandisk shares plunge on Friday more than 15% to $42.71 as outlook worries some analysts. Stock has now support only at $41.50.

Chart courtesy of stockcharts

Juniper is losing more momentum, however still trading within the range, keep an eye on JNPR for a possible test of the bottom line.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

That's All. Have a nice weekend !!!

AC

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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