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Friday, November 02, 2007 

Do you believe in this Sell-off ?

Chart courtesy of stockcharts

Do you believe in this Sell-off ? Last time the market sold off in August, there was a big rally back up, so I think the possible of a same scenario occur is high. Nasdaq has a good support under its 13 dma, so keep an eye on this mark.

Chart courtesy of stockcharts

During today session YHOO successfully tested $30 support. Volume decreased dramatically, a possible signal of invertion to start a new uptrend after profit taking. $30 it's really a key support for stock, only a close below this mark could mean a new sell-off, so keep an eye on this mark.

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 evening !!!

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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