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Re: Trades--Can$ looks frothy?/TJC *PIC*
In Response To: Trades--Can$ looks frothy? ()

CD had been doing nothing but chop sideways erratically for a long long time. Resistance is par and support is around 93 but has been finding support at 96-97 the last few time down since summer. One could conclude price has broken out up over par which has been resistance in Oct,Nov and early Dec but price has been doing this for the last 3 years now. At par CD is running into a concrete ceiling for a variety of reasons. CD did run up to 1.007 last April just like the stock markets hitting a rally top then as well. But CD is far too erratic to trade unless long at support. Price did run up to 1.07 from 97 cents in Sept to Nov 2007 which is a 10 cent gain in two months. This shows you what can happen. Then in 2008 it found resistance in a long channel at 1.03. Price is still in a 3 year uptrend so shorting would be a counter trend trade as well. So it is a choppy and erratic trade to say the least. One would need a very wide stop to play this from here. I wouldn't touch it in here.

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Re: Trades--Can$ looks frothy?/TJC *PIC*