up or down today folks, page-50

Sorry Sarala and top pick, missed your posts until tonight.

Top pick the driver of the rally in financials is reweighting away from resources, I think this will go on for a few months.

Sarala, these bank stocks were way oversold and the dip below the $18.75 was the exhaustion move. You have to close leveraged longs when the support goes because the bottom can be 50% away overnight, but taking shorts is equally as dangerous in this situation as the counterattack by longs can add 40% in a couple of days.

Look for earlier formations such as double tops, rounded tops (CSL atm) and Head and shoulders as earlier, safer reversal signals for short positions.

WBC target is $22. If it can get a close over that its worth holding whilstever it can maintain the $22 level. More likely is a retreat from $22 back to $19 for retest of the failed support level.