Final Dip for Ford Ahead of Expected Rally

Mid-Day Minute for Tue February 23rd 2010
by Mike Paulenoff, www.MPTrader.com
 << February
2010		 >> 
SMTWTFS
31123456
78910111213
14151617181920
21222324252627
28 

The coil pattern that is enticing me on the long side of Ford (F) has the right look of completion ahead of a powerful thrust to the upside that should propel F above the Jan high at 12.14 towards 13.50-14.00 and possibly to 15.00 thereafter based on my medium and longer-term work. This morning’s swoon to an intraday low at 11.15 and pivot to the upside to 11.47 so far looks like the final dip within the coil followed by the start of a new upleg. If my work proves correct, then F will continue to outperform the overall market in an increasingly significant way in the upcoming hours/days.

Mike Paulenoff is author of MPTrader.com (www.mptrader.com), a real-time diary of his technical analysis and trading alerts on ETFs covering metals, energy, equity indices, currencies, Treasuries, and specific industries and international regions. Sign up for a Free 15-day trial to Mike's ETF & Stock Trading Diary.
Login to our "Echo" Comment System by using your user name and password from any of our AdviceTrade services (AdviceTrade.com, TheTechTrader.com, MPTrader.com, MarketsPath.com, and SwingTradeOnline.com):

Login Now to share your comments

Create your display name!

Login with your id from any of our AdviceTrade Sites:
AdviceTrade.com, TheTechTrader.com, MPTrader.com, MarketsPath.com or SwingTradeOnline.com



Forgot your password? Click here.
Not registered? Register for free.

FREE Weekly Wizards Newsletter

Weekly Wizards Newsletter
  • Stock & ETF Picks by Pros
  • Technical Market Analysis
  • Weekly Swing Trading Ideas