Beginner Question about Swing Trading Exit

[Glenn]

Glenn, great thoughts.

I posted a chart for Fedex. To get the odds on my side... I looked at the "Air Freight & Logistics Sub-Industry", the last 12 months is a 10.2% gain.

It appears to have hit resistance of around $117 a couple of days ago and appears to be on its way down. In a predictable world, I would expect it to drop to around the $100 mark, at which point it would produce a potential buy (I would watch the candelstick patterns and look for a reversal signal??).

Any thoughts anyone?

Damian - thanks for the info.

Cheers,

tdrtw

Fedex follows the Dow pretty closely. See pic.
Buy when Dow oversold (i.e. buy the dip) and don't forget to put your stop in.
If the Dow has topped out and starts a bear run you must protect your capital.
Dow has underperformed UK and European indices, so there should be more upside, but nothing is guaranteed (and I'm not qualified to give investment advice).
To get some analysis on the Dow, see Ed Downs at www.signalwatch.com/markets/markets-dow.asp.

Glenn