Thursday, March 24, 2011

ADM TRADE FOLLOW UP

ADM was a short idea from March 22nd 

Thus far, it's continued to deteriorate, despite the market's move up, which shows poor relative strength.

 The red arrow is the 22nd, ADM has been lateral since, even though the market has been up the last 2 days.

Looking at the 3 minute chart, we've had several negative divergences that have turned ADM down, the current one looks to be one of the worst on the chart. It's already leading negative and threatening a new 3C low.

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