Sunday, February 22, 2009

TTC - short idea


Keeping TTC on the watchlist for short ideas since it closed under the 61.8 fib level on heavy volume. With enough selling pressure after this bounce in the indexes, TTC could be sliced in half because of very weak support area between 24 and 11. Weak but not an island reversal gap, so it would be better to scale in after break down of key support levels under 24 than go "all in" right away. It could take a few months or even over a year till TTC reaches 11.

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