Yesterday I was taking some screen captures to show how my 3C indicator caught the heavy distribution that occurred in Washington Mutual and Wachovia the last month or so. I noticed what looked like fairly heavy accumulation in the recent chart of Wachovia (WB) this week, I even considered buying some. Finally I chalked it up to the extreme volatility probably just distorted the reading in some way. Then drinking my coffee this am, I read this story http://biz.yahoo.com/ap/081003/wells_fargo_wachovia.html?.v=8
It seems had I trusted my indicator and my chart, I would have doubled my money in less than 24 hours.....
Below, this hourly 3C chart showed clear distribution at the two peaks in early Sept and late Sept. Notice the aggressive uptrend since Monday.
In this other formulation of 3C (still 60-min chart), the same distribution at the Sept peaks is clear, but even more impressive is the current leading upside divergence. A clear indication of accumulation. This morning we know why.
If you'd like to try 3C, please use a link from my site to sign up for Worden's TeleChart or Blocks as these are the only two platforms that will run my proprietary indicator. Please use my links as I'm an affiliate for both platforms and please mention that you heard about them from Trade Guild.net. That's all I ask, it won't cost you a dime more. Then email me and I'll get you set up.
Friday, October 03, 2008
Trust Thy Charts....
Posted by Brandt at 8:34 AM
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