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Morgan Stanley Message Board

  • nullenvoid20 nullenvoid20 Dec 3, 2008 8:18 PM Flag

    Dear Princess- your opinion

    a few days ago I mentioned a possible inverse H&S on MS. There was no follow through and it caved. But plotting on semi log scale instead of linear, the neckline tomorrow will be about 13.80. So if semi log is the key in this case, tomorrow shall show the way, strong up and its off to the races for a week or so. If the bulls fail tomorrow its back to retesting lows.

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    • As I mentioned before the inverse H&S was not confirmed by the correct slope...

      Which is probably at least part of the reason why it failed the previous test.

      But at the risk of stating the obvious...

      While TA is an essential part of trading it must be taken into account that things like fundamentals, news, and broad market sentiment will usually trump TA or at least certainly have a very real effect, and therefore must be considered in conjunction with your TA.

      As for tomorrow, and what it's going to take for this stock to break out, there are some ugly things going on there. The chart is channeling in a downward slope, so given today's gain I wouldn't be surprised to see some profit taking at the first sign of weakness. These days so much trading is automated. I suspect there are a lot of very tight trailing stops set.

      So yeah tomorrow could be significant.

31.16+0.19(+0.61%)Aug 26 4:02 PMEDT