MSFT technical update – market wrap-up

The MSFT weekly chart is close to be a buy. We have almost reached our target area of 20 and a weekly 12 this week. Dips around 20 can be bought on a trading basis but never believe these ridiculous stories – that this might be “the opportunity of a decade or century”.

The famous last 30 minutes of buying (especially on Fridays – I blame it on PPT) but, in the end, it was after a 10% drop, which is a normal thing to happen. The volume was low again and the turnaround of Wells Fargo triggered part of the last minute rally. Wells Fargo gets too much credit since Wachovia is full of toxic stuff and going forward they will have severe earnings problems as well.

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~ by behindthematrix on November 7, 2008.

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