Monday, March 19, 2012

Still more to go?

I was correct today in the market getting to 1409 but wrong on the day ending bearish. Not that it was overly bullish considering the market faded in the last hour but I am just not seeing the type of correction that would start something that would get the market down more than couple of dozen points. And since this looks to me like it is still a W3 in the works, let's just assume the market will make it to 2 X W1 so 1420. Assuming the market ended W3 today, we should see a smaller correction to the Trend Average or close by before putting in another wave to 1420, looks about right. So the wait continues.. I bought some SDS today that I will probably cash in when the market correct and then possible go long to hedge my current vix positions.

I will post trades tomorrow as I am running late right now..

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