Hi everybody, I have been gone for a while because my school work was piling up on me for a second so I had to get back to focus. With that being said, I hope everybody has been trading well for there has been plenty of opportunity to raise capital on this run up. We are approaching some resistance on the dow at 8250 area. I feel this is going to be an area that the bears will defend atleast on the 1st attempt at this area, but on the 4th overall attempt. If we cannot break through this level there will be a crazy sell off in my opinion that will take us back down to the channel. What I expect to happen though, is we shoot up tommorow to 8250 area and people take profits into the weekend, only to return next week and buy more. I am very bullish on the market right now for the very short term. I feel if we break the 8250 level we are going much higher.Here is a video below of a trade idea using the XLU or the chinese utility stock HNP. Trendline anlaysis used in this video will give you some insight on the type of work I do to analyze price patterns, as well as how I look to enter trades using the channels.
** Back in the building stock trades for 03/27/09** from Chris on Vimeo.
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