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The latest from the
OptionsHunter session 06/22/2009 Never stray from the Basics no matter how successful we become. SPY - Price went higher, but there are lower highs on the indicator, this means the foundation is broken. The foundation (indicator) holds up the price, if the foundation is broken price will go down.
HES - monthly low was in January and at that time the
indicator was way up, lots of downside force on the
indicator but the price is high,. need tp wait for the
daily to get out of the way to the weekly to exert
pressure. The whole group is generally week. SDS - sideways motion with upside divergence, blue line is sharply accelerating. OIH - weekly came up and then lost momentum, time to get out, doesn't mean to buy puts, just time to exit calls. AGU - almost a
perfect double top, indicator is below the signal line
strongly diverging and the monthly is still collapsing. GLL - Double bottom in price with upside divergence with blue line above and the daily confirmed, looks just like QQQQ did in March. SKF - Monthly new low and price, daily trying to move higher. Looks strong but doesn't have the same characteristics as other strong stocks. PCX - very weak,. daily double top, technicals not confirming, blue line under signal line and moving steadily lower. Monthly says it should be down, but still not as clear as others.
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