Stock chart patterns and technical analysis (TA) explained simply. Disclaimer: This blog and all its contents are for educational and entertainment purposes only. Do not trade or invest based on any information seen on this blog. Please read Terms of Service. The K E Stone blog sites (Keybot the Quant) are blacklisted by Google, so enjoy the ad-free experience, and only use the Donate button when supporting the sites.
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Sunday, July 29, 2012
SRS UltraShort Real Estate Weekly Chart Falling Wedge Positive Divergence
SRS, a 2x inverse ETF that moves opposite to the real estate sector trails lower into the black falling wedge. The green lines show the positive divergence now in place that should bounce price. Keystone opened a long postion in SRS on Friday. An entry anywhere from 24.70 to the current 25.33 level appears attractive. Projection is for a bounce in SRS at anytime, likely in conjunction with weaker housing sector news. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.
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