Tuesday, February 14, 2012

The wait continues..

The market seemed like it was ready to go down today but instead it tested the TA successfully and closed well above it again. Therefore I'll have to assume this was a "flat" ABC count with another impulsive 5 waves in the works. And I wouldn't be surprised if we get a gap up tomorrow to the high 1350's-1360 area that will eventually be reversed, so my shorts were stopped out at 1350 as it is my rule to get out of shorts after successful TA tests and I am looking for higher prices tomorrow to re-enter the position. The Trend Average has risen to 1345 and it is getting harder and harder for the market to keep its distance from it, so the wait continues for the rollover process. I just want to make sure I take advantage of the coming volatility and correction.

These have been the changes to the Portfolio in the last couple of days:


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