Sunday, December 14, 2008
Stocks advance on hopes for automaker rescue as Treasury says it will support DetroitWall
Street put on another impressive show of resilience Friday, rebounding
from an early sell-off to end higher after the government said it would
assist troubled U.S. automakers.The market, which just a week
earlier withstood a terrible November employment report, managed its
advance after the Treasury Department... [read more]
Wednesday, November 26, 2008
Power Course Instructor’s Response:Yes.
That is the way that the Fibonacci tool would be used in a downtrend.
Keep in mind, however, that price can retrace beyond the 50.0% level.
Wait until at least two wicks break above the 50% level before making
the determination to take a short position. A stop can be placed a bit
above the highest wick in the formation.Also, for the most
accurate... [read more]
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