weekend charting 22/01/10, page-20

Morning All

Retraces and falls are never a nice time, as even some of us may have taken the warning signs and acted on them, there will always be some who get hit with some losses. So its not a time to gloat if you were right but merely an opportunity to share what you know and any opportunities you see coming.

A few warning signs for me were
- world charts below
- double tops appearing and 2nd legs without consolidation, leading to sharp declines KAR WOR CBA( lesser extent)
- breakout trades failing to impulse the full move AIO FMG MGR HFA LNC

Of course we will find oppportunities going forward and yes we can but the markets agin, patience is just a word we need to focus on. There is no prize for fightng the market so let it do what it wants and re assess it from there

Im thinking early feb for a low ??? and then have another look, worst case for me would be a decline into early march, but lets play it as it comes.

I will flick through some charts after lunch and will turn on Skype for those wanting to have a chat, be warned Rob's hopeless at skype though LOL

Regards
Rob

World Market Updated Charts