Flipping through charts this evening and just had to post what I'm looking at, for posterity sake. What we're going through in the markets right now is just complete decimation of stocks as an asset class. I know plenty of people that are holding a lot of these stocks in their retirement accounts, and have probably held them for years, with barely a worry for them getting to the levels they currently inhabit. Take a look at some of these issues:
Let's start off with GM on a monthly chart...GE, recently fell through what should have been strong supportKO approaching decade-long supportJNJ, will it fall off the cliff it's standing on?CLX, we all need bleach
GS, all-time lows 17% away...MA weekly chart...looks like a bear flag to meHow long before we see $20 on RIMM
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at email@example.com
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