Hello Stockhoppers, It has been a little helter skelter here lately. We have fallen well below the 13day and 21 day exponential moving averages, are we seeing the bottom? Take a look at the Dow Jones Industrial chart, looks like we may have a 1-2-3 bottom forming, at least for the short term. We will not be sure until we see prices get back on top the 13day and 21day exponential moving averages. It looks like we are seeing the end of this downturn. What to watch for as we do approach the averages will prices hit and bounce off and return down or will they continue through and start to settle on top of these averages. Short term I would say there is money to be made by doing a little bargain hunting. Saying that I will also throw in a word of caution, get in make some money but watch out as they approach these averages.
Updating Ford which I am currently in long and in the Red with, it mirrors the Dow, this of course is not surprising. Ford should rebound as the market rebounds here. If you have money on the sidelines this would probably be a good play, but again watch as it approaches the 13day and 21 EMA. If you want to play it safe wait for it to bust above the #2 point on the chart, which it will most likely here real soon. If you are a little more adventurous you may want to play it now and keep a close eye on it as it approaches the #2pt and the averages.
How ever you play it keep a close eye on your money and the Charts!! Until next time....Happy Charting!!
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