Monday, April 6, 2009

Trade Alert :SKF

Well you gotta love it, the financials have rallied on hype and horsesh!t and now are ripe for roll over. Will they crash, yes IF the insiders are out, but for those of us who don't have that in-tel, we have to do it the old fashioned way, with discipline. 




Looking at the SKF in the daily chart you can see it pushing down on support in the $80.00 range with the stochastics pegged. don't worry about the stoch. it can remain pegged forever, just worry about the price. Get in here at $85 and stay in as long as it remains above $75. The $85.00 is cheap so I will get 100 shares with a stop at $69.50. 

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