Friday, October 4, 2013

"As Ford goes..."

There was a saying many years ago. It went, "As GM goes, so goes the country". Referring to the U.S. economy. And at the time whatever was good for General Motors was good for the country. That may be true today, but being a chart oriented trader and investor I need a good chart to look at. That chart is Ford. Take a look at this long term chart of Ford.

I love "triple tops" because the area above the tops seem to be a magnet drawing prices up there and beyond, partly due to the greed of the short sellers but mainly because prices should not see the same high price three times if that price is TOO high. So often a break above is a good trade and the continuation of a trend......

Perhaps the saying should be: "As Ford goes, so goes the country".

I sure hope so.

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