Posted by: rp on the 22nd of Dec 2011 at 10:09 am
when i left early yesterday, i had two alerts triggered for longs. the HGSI that i posted yesterday and WG. althought HGSI is up nice, i never got around to putting a buy stop in for this one too. very nice move today and although i won’t chase it now, the daily chart looks pretty nice if it can break out of that wedge. my alert was on a break of this 60 min downtrend line yesterday. one to watch on a pullback or if it clears that first resistance zone on the 60 min chart. just viewing these longs as hedges to the existing core swing shorts on this bounce, which could possibly go higher into the end of the year but i still favor a resumption of the downtrend very soon. those 60 min index triangles should hold the key.
