weekend charting 22/01/10, page-44

Koelen i would not be taking any longs unless it is for a scalp over couple of days. The longs i would be looking at would be BTA if it can hold $2, CSL if it can turn up here (CSL does well when AUD is weaker and healthcare generally is where the money goes if the markets are down) and maybe QBE for a long also, But i wouldnt be in there for to long and stops need to be quite tight.

I think best bet is to hold onto that cash of yours and wait for a better buying opportunity. Maybe low into feburary some time before a reversal up? I think hold onto that cash. I was being taught something this morning regarding Gann which states if a trend goes for 30 days it more than likely will go for 60 days... we are nearing that 30 days so i would be hanging onto your cash for a little while unles you buy defensive stocks or just scalp some longs.

WPL i just looked at then as well... messy messy stuff. i would be looking for a bounce around the $43.55ish level as this is where the Fib retracement is. If it goes through this i would be looking for maybe a bounce at $40... Personally only longs i will be taking are scalps and any rises that make lower swing tops i will be shorting those...depending on the market of course.