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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj

Sunday 26 February 2012

HSBC

Price is above the 200 dma ,which is declining.It is possible this is a 90 day (Gann) countertrend reaction and that we break back below the 200 dma soon.Remember,HSBC is a "good" bank,so if we get negative signals here the rest of the sector will likely fare worse


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2 comments:

  1. Trading Sunset26 February 2012 at 20:29

    Ha, a 'good bank', yeah, that one did make me laugh.

    Certainly looks toppy, I can't imagine the sort of maniac who will wanna be buying at this level.

    *I'm still amazed how smashed up the Euro-bank stocks already are, so many never really recovered. If there is a major down wave, a few might even be less than 10 cents eventually.

    Good wishes.

    ReplyDelete
  2. Chartrambler28 February 2012 at 00:30

    Nice gap down today !

    ReplyDelete

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