I mentioned Baidu.com (BIDU) yesterday - too many charts look like this; it is to the point even the bulls must ask for some backing and filling. The stock actually opened up into the $107s, before reversing hard and dropping $6 quick points. (I guess that is a "buying opportunity"). I am sure we've had some other moments such as this in the past year and a half but so many stocks are now not even within shouting distance of their 20 day moving average.... it is boggling. It's now a game of musical chairs if you are chasing this type of merchandise... just hoping you don't hold the hot potato when the music stops.
Best Of FMMF
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- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows