china (again)

Posted by: rp on the 12th of Aug 2009 at 09:08 am

still remains one of my favorite swing shorts. not sure why i don’t hear much about it elsewhere… guess everyone just figures they’ll go up forever.  ;-)  all the better if you are short.  T1 remains 13 week ema/uptrendline.  updated daily chart below plus previous weekly chart which is very compelling IMO.

Posted by: rp on the 16th of Jul 2009 at 11:55 pm

right at the bottom of the gap and bear-mkt downtrend line (i may have drawn it a little shallow last week.  RSI has only buried itself deeper in overbought territory.  T1 on the inevitable pullback circled in green (converging 13ema, bear-market rally uptrend line and horizontal price support).

p.s.- weekly chart is not updated. also just noted typo in daily on the RSI (RSI rolling hard off over, mistaken typed macd although that is also in free-fall).

p.p.s.- also just realized that stockcharts has not updated last night’s session on the daily $SSEC when i saved it this am.  it was down another 4.66% last night to 3112, just now aware of that.  therefore, T1 is nearly hit.  i would expect a bounce on the intiate tag of support but still expect that support to eventually go.  i will update targets (T2, T3..) when that happens.