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Old 04-20-2012, 09:44 AM   #1
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Triangles



This was as of yesterday's close.

I don't think i've ever seen a triangle pattern not resolve itself in one direction or another. gdx is flatish today.. I am guessing this is because of Option Expiration but still, pretty annoying.
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Old 04-20-2012, 10:10 AM   #2
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As the angle gets more acute, the market appears more obtuse.
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Old 04-20-2012, 11:05 AM   #3
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As a professionally trained technician I have never seen this. Seeing this kind of line hold so many times suggests someone is basically just sitting on it without regard to the potential to get a better price. Sorry but after 3 touches, I would back off to get a better price.

Considering how pressed this market is and how negative sentiment is, it's not rational action. By now we should have either seen a flush to lower prices or a bounce of 5-10% in the shares to let the triangle play out.
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Old 04-20-2012, 12:03 PM   #4
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The rule these days seems to be that it can move so fast you can't react in time, or else it's going to be so slow you can't stand waiting that long. Seeing it all over.
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Old 04-20-2012, 03:47 PM   #5
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