Tuesday, February 7, 2012


The market made a new high as I expected yesterday and it came pretty close to 1350 at 1349. So technically, we could call this wave done. But it seems like it has a little bit more left by looking at some technicals. So the wait continues, I am hedged and waiting for some "surprisingly" negative news that will cause a correction. And whether this is just W1 of 5 waves to come it's still early to tell. But the longer in time this goes on, the more likelihood we will see a correction to 50 or 200 day MA area.

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