Tuesday, September 29, 2009

HGX Neckline whipsaw

How would you like to be someone with serious interest in taking an investment position in housing or someone with a vested interest in this thing breaking to the upside while the neckline keeps getting broken and then failed upon?

I was just rummaging around stockcharts.com, pulling up various things to try to get a 'feel' for the market. Then I saw this basket case.

Whipsaws like this are way too stressful. It will be interesting to see which way this finally breaks and fundamentally, I am looking down. Yeh, I know, bold call.