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Frank started market timing in 1982 when the Federal Reserve cut interest rates and sparked the 1980’s bull rally. Realizing that this rally could have been forecasted, he began to search for indicators which had similar forecasting ability. Within a year, his first newsletter was launched,... More
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  • Bearish Outlook for Baker Hughes Inc. (NYSE: BHI)  0 comments
    Dec 12, 2011 2:46 PM | about stocks: BHI

    December 13, 2011

    Shares of Baker Hughes Inc. (NYSE: BHI) broke below a short term support level and are expected to reach lower lows in coming days.

    On Monday, December 12, BHI closed below the November 25 closing correction low at $48.87.

    The expectation is for a test of the October 4 lows in coming weeks.

    We would recommend a short position for BHI with a buy stop around $50.20 a share.

    If BHI reaches $43.00 intra-day in coming weeks we would likely take profits.

    Fibtimer.com does not currently have a position in Baker Hughes.

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