Today we have a really ugly start and my messenger is down again. What I can see now that today has a big distribution start and now it finds an temp bottom. There are several remarks:
1. We have support around previous trend line here around 12350 which is very critical, any new low today below 12300 is a very bearish signal that tells you, sell now.
2. The chance that we have a full recovery is very low. If DOW close above 12450, then it is a good sign, so you can try to buy some on this dip with stop loss around 12330.
3. As I said we can still tolerate that we have a black stick for this week and it will be still bullish if next week is white. But pleas bear in mind, the bottom line is 12300.
It's always better to go away with small/no profits than staying under water.
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Use another computer, then you can log into msn.
Min Chen
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