Monday, September 27, 2010

GIL

For a longer term short  trade-with risk management allowing for some possible upside, GIL is looking very bad.

Note the 3C distribution into the top, the volume is correct for a top-heavy on the decline and I doubt that it moves much further north then the last rally. On the other hand, if the market breaks down soon, this may be as far as she goes. I think this could be trading in the high teens.

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