Saturday, December 13, 2008

XLF could be back testing broken uptrend line

XLF could back test its broken uptrend line early next week when the Auto bailout is officially announced. I expect the market to move down once this back test is completed. The Auto bailout news using TARP Fund is in fact bad news for the financials since this means some of the finance companies will miss some of the pie...





GOLD stock is showing sign of topping and is a shorts candidate.





OIH is a shorts candidate but wait for price to move to $77.50 region.


JPM is another shorts candidate. Monitor for better entry price at around $32.50 region.

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