Tuesday, July 1, 2008

POT | CELG | ICE

CELG made a Super Breakout this week - it would be nice if all breakouts worked as well.























POT treated me like a common street whore today by hitting an intraday low of 212. I'm on the fence as to whether it is giving signs of breaking down or if it made a 'hammer'.
Hammer - a bullish reversal candle pattern with a long lower shadow and a close near its open - signifying a rejection of lower prices.

When I look at the weekly chart, it looks like a break-down that has a chance of retreating to its major trendline (blue).


But when I look at the daily chart, all I see is an unconfirmed breakout below support with a close above support.



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Most things recovered today but should this 'bounce' run out of steam here's a suggestion:
ICE 113

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