monday trading, page-156

MMMmmm

This will be interesting...

personally, I am looking to get back on the longer term short side, not just yet, but possibly in a day or two or three.

I can see the potential of 200 odd points further upside and am currently looking at this action as a "relief" rally" in the start of a daily down trend.

The 200 odd points further to the upside will bring price back up to the major up trend line broken on the 22nd of January.

Of course I could be wrong.. this is the first Daily/weekly timespan based downtrend I will be approaching with my eyes open to that possibility...

Be that as it may... I am rather pleased with my weekend post...

http://www.hotcopper.com.au/post_threadview.asp?fid=1&tid=1095541&msgno=4997153#4997153

(just thought I'd get that in first before the large stream of "I told you so's" come out LOL!)

the major points that I brought up were

Full moon and strong one occurring at bottom of selloff

Touch of 38.2% retrace of 07/08 decline from upside

Divergence on simple stochastic.

Nice bunch of simple t/a signals.

;)