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Edison International Message Board

  • emclu emclu May 30, 2013 7:21 PM Flag

    EIX is in correction mode.....

    EIX is down almost 15% from its high. Looks like there is some support at $46, Then about $44 & then $42. DJU index is causing it to fall. My take is that the next good support is around $42. This would correspond to a DJU index at about 440 where there appears to be good support. Technically speaking IMHO. Usually utilities are an indicator of future market performance. Thing is that none of the old rules apply with the FED intervention. If Fed stop buying treasuries then rates go up, utility stocks down. intervention. In this market anything can happen. Its amazing what this company has been through in the last decade, EME debalce, songs and Enron.

    Sentiment: Sell

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