Here’s Why Charts Take Precedence
To tell you the truth, I think
that investors are once again overreacting but, when I see a bearish pattern setting up intraday, confirmed
by a nice trigger level on a larger time frame, such as the daily chart….
10:37:21
Intraday Setup Alert
Sina Corp (SINA)
has formed a descending
triangle on the 5-minute chart–down 3.71 at 32.69. Today’s trade has
the stock testing prior daily chart pivot lows off an earnings release.
Continuation shorts might be considered below pattern and session lows of 32.56.
…well personally, I don’t mind helping out in
diggin’ the hole, especially when it’s obvious they really, really want out of
the Chinese Internet space.