Thursday, October 14, 2010

FAZ on Any Pullback

As you can see, 3C has called every major reversal in FAZ. The support I spoke of that would likely be broken, you can see at the faint red horizontal line. You can see it was broken yesterday on a strong 60 min. leading positive divergence, in other words, the break yesterday was accumulated and we are seeing a decent move in FAZ today. Since it has not broken out of the range yet, I would consider any pullback an opportunity to get long FAZ. You can always confirm with me as to 3C's disposition on any pullback, but this is looking very strong and for good reason. The financial sector is about to be thrown into massive disarray. If you think the Foreclosure Scams are not going to effect financial institutions, I think you may be underestimating the roots this thing has already put down. Americans are not going to be in a generous spirit when they understand the depth of the fraud committed against the American taxpayer after we bailed their butts out once already and saw nothing for it.

2 comments:

Quality Stocks said...

Hey Brandt, Glad you are well again. What does DRV look like on muliple times?

Brandt said...

QS, not bad. You see the wedge? I sent two charts to your email.