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Lets review $AMGN 8 trading days later after my F-Shift Forecast

I posted the $AMGN forecast on September 21,2009 so I thought after todays correction we should take a look at how my pick is playing out. Keep in mind that when this forecast was  made using the F-Shift Forecastser, there is only a 12 period outlook so lets begin. The starting value of $AMGN at the time of the forecast was $60.80 and my call was for either a consolidation after the recent  rally or a reversal from this level...


                                                                          (Click to enlarge)

                                                                                         Clearly after todays action my bear call spread that I initiated on September 21, is looking strong to finish with 100% of my initial credit. The 65/70 spread appears to be safe given AMGN fell to 59.00 although in this overly bullish environment, todays pullback may be nothing more than a buying opportunity for all the momentum traders. Having said that, all the percentiles have shifted to a more negative bias. Please click on the above link to see todays latest forecast relative to the original and I will update this trade next week on Wednesday October 8th - the day after the forecasters range.

Fulcrum Shift Trading