Last Update: 5.14.13

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5.10.13 Friday

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[30Mins In] Entered Bullish Positions @ $191.40

Came down hard this morning but still with very low volume.  But bulls are not done yet here as bulls have confirmed inverted H&S reversal formation along with 50EMA and inverted H&S neckline acting as support.  Would the bulls come out with power?  We shall see.

[After Close] Bulls Protecting the Neckline

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5.13.13 Monday

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Added More Bullish Positions @ $190.98

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5.14.13 Tuesday

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Inverted H&S Neckline Testing

As you can see we are currently testing that inverted H&S neckline which coinciding with 10 (blue) & 50 (pink) EMAs.   On 1/8/13, when 10/50 EMAs crossed, $CF soared about 25 points.  Currently, 10/50EMAs are starting to merge and possibly cross up higher if or when this inverted H&S neckline holds and bulls can push higher this week.

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5.15.13 Wednesday

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All Stopped Out @ $189.84

I think my stop was too tight to be honest. I still think that we are still in that neckline testing phase. As long as that neckline holds, I think this inverted H&S pattern could still play out.  I will be watching closely rest of the week for an reentry.  If so, I will write Part 2 of this trade.