Wednesday, March 7, 2012

Oops, WMT did it again?

Keep an eye on WMT again (WMT is a short trade idea).

WMT had a few intraday head fake moves above the bear flag that sent it lower the next day, yesterday was the latest, but the close wasn't below the lower trendline. Just like looking at the AAPL intraday head fake that sent AAPL lower by -2.2% vs the GLD daily closing head fake that sent GLD lower by -5.3%, the stronger the head fake move, the stronger the reversal move. So watch for WMT to hopefully post a stronger, unambiguous move above the trendline.

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