Tuesday, December 20, 2005

Board of Trade

Here is a daily chart of Chicago Board of Trade Holdings.

I had been very bullish on BOT but it has decisively broken support and is also acting much worse than CME and the market averages. This makes me think that when the averages make their bull market top (probably sometime during the next six months) BOT will be trading below its 134 high.

Right now BOT is headed for 84 from which level it should mount at least a 20-30 point rally.

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