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  • A-B-C ... 1-2-3 Ad Infinitum 0 comments
    Oct 11, 2012 11:16 AM

    A-B-C or 1-2-3.

    We play this song and dance routine as long as we are traders. For as long as it works most of the time with at least 65% probability it is a continuation trend for either the 2-nd or the 4-th wave of a potential 1-2-3-4-5 wavecount (either to the upside or the downside).

    - SnP: g15.picoodle.com/ltd/img15/5/10/10/aarc/...

    - Compq: g14.picoodle.com/ltd/img14/5/10/10/aarc/...

    - Dow Jones: g15.picoodle.com/ltd/img15/5/10/10/aarc/...

    Those were from yesterday's Comments. We gap up today because DAX rallied overnight and the US futures market made a minute i-ii-iii-iv-v rally overnight before the open.

    - YM: img14.imagefra.me/i5ab/aarc/141u_a76_ubk...

    YM clearly shows that the highest probability is an A-B-C instead of a 1-2-3. Thus this trade is a high-confidence trade. But we are not out of the woods yet. As indicated on the YM chart; a prerequisite must be met first before confidence factor can reach 80%.

    - Spx: img15.imagefra.me/i5ab/aarc/141u_ec9_ubk...

    As I have been repeating for the past few months; finding a high-confidence wavecount on the Daily Chart from it's June 4th bottom is extremely hard. This potential new A-B-C further muddied the ground as additional possible wavecounts can be added including a possible rally toward 1545 Nominal Target with Extended 1612 Target initially speculated last July and modified in August for a Conservative Target Range of 1527 to 1587:

    Trade Management:

    Primary Objective is again to take some profits and protect remaining positions from significant paper profit drawdown(s) just-in-case market suddenly reverses to the downside. Additional objective is to find the final top run in order to maximize profits on remaining long positions.

    Thus I will be selling 1/3 SSO positions at or near the weekly chart Fibonacci Confluence Resistances of 1481/83. Then sell the other 1/3 at or near the 1492 v'-th Nominal Target. Will hold the last 1/3 as a 'Free Trade'.

    * I bought back the SSO sold last Friday and added a little more yesterday.

    * The AAPL was a losing trade as the trailing stops triggered. Bought AAPL again yesterday for potential $715 Upside Target. The

    * INTC trade trailing stops triggered for tiny profits and I bought it back yesterday at $21.72 v-th wave of C-wave Nominal Target. Stop loss is now below $21.25 Maximum Allowed Run Rate.

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