The $BANK gapped up in early morning trading to open at (1514.80) and declined to a low of (1510.64)...before ascending to a high of ( 1564.42) (which is the closing price). The markets reaction to favorable news from the financial sector spurred traders to buy the nearest ask price in many commonly known stocks propelling the $BANK beyond the 8 sma (1521.99) and the 20 sma (1539.89)...nearly reaching the 50 sma (1588.66) ....which is next if the up swing continues tomorrow. The closing candle is nearly a marubozu...except for the lower wick. The fib retracement 38.2% (1506.47) area was nearly pierced during the early morning down swing and the 50.0% (1604.81) is next if the up swing continues tomorrow.....with a possiblity that the 50 sma (1588.66) will act as temporary resistance on the way up.
http://stockcharts.com/h-sc/ui?s=$BANK&p=D&yr=0&mn=6&dy=0&id=p43569477360&a=143335942&listNum=1 http://www.freetradingvideos.com/vlog/default.asp?category=1 Date: Sat, 11 Jul 2009 17:44:12 +0530 Subject: {GS} BRILLIANT WORLD ECONOMICS From: [email protected] To: [email protected] It is the month of August, on the shores of the Black Sea. It is raining, and the little town looks totally deserted. It is tough times, everybody is in debt, and everybody lives on credit. Suddenly, a rich tourist comes to town. He enters the only hotel, lays a 100 Euro note on the reception counter, and goes to inspect the rooms upstairs in order to choose one. The hotel proprietor takes the 100 Euro note and runs to pay his debt to the butcher. The butcher takes the 100 Euro note, and runs to pay his debt to the pig grower. The pig grower takes the 100 Euro note, and runs to pay his debt to the supplier of his feed and fuel. The supplier of feed and fuel takes the 100 Euro note and runs to pay his debt to the town's prostitute that in these hard times, gave her "services" on credit. The hooker runs to the hotel, and pays off her debt with the 100 Euro note to the hotel proprietor to pay for the rooms that she rented when she brought her clients there. The hotel proprietor then lays the 100 Euro note back on the counter so that the rich tourist will not suspect anything. At that moment, the tourist comes down after inspecting the rooms, and takes his 100 Euro note, after saying that he did not like any of the rooms, and leaves town. No one earned anything. However, the whole town is now without debt, and looks to the future with a lot of optimism..... And that, ladies and gentlemen, is how the United States is doingbusiness today. Regards Kris Visit: www.website.ws/realinvestor The power of teaming _________________________________________________________________ Lauren found her dream laptop. Find the PC that’s right for you. http://www.microsoft.com/windows/choosepc/?ocid=ftp_val_wl_290 --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en -~----------~----~----~----~------~----~------~--~---
