DOW Forming Bear Flag as Black Service Picks up another Short Position

Jul 9, 2009 Small Cap Stock Picks

The DOW is consolidating into what could be a bear flag continuation pattern after breaking down its bearish head and shoulders pattern on Monday. Its common that price will re-test the breakdown neckline before it continues the pattern flow. I think we still have more downside, Friday is when we’re prone to sell. And well… Tomorrow is Friday So i’m looking to see the continuation of this new found bearish favored market as im weighted short in my portfolio.

Black Service Stock PICK:

Ticker: ????

after a non stop rally from around 12 bux to peaking around 30. This sucker here is forming a very toppish looking double top pattern in which i’m willing to bet that this could breakdown the neckline support at 27.56 to confirm the pattern and head to target levels around 22-25 where i would want to lock in some short term gains.

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	Down from $150!	Down from $550!

` This entry was posted on Thursday, July 9th, 2009 at 10:49 pm and is filed under Small Cap Stock Picks. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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2009-10-13 22:04:48
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2009-07-21 20:05:55
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2009-08-06 07:25:55
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