Big picture update:
Forgetting the wiggles completely, the roadmap I have been following is now close in time and price to the turn I have been looking for. I would be surprised if the S&P were able to make 10 more points out of this rally. I am looking for one final wee pop to end the run, but that's wiggle-talk. At these levels, after many weeks of being flat positionally (yes, long would have been better -g), I will finally be establishing position shorts now on strength. It's time.
I don't mind being wrong. What I hate is being stubborn. My stop will be fairly close to the market, since if it does push another 5% from here, then I am wrong and I will step aside. If, as the equity bulls think, we are poised to run hard in a new bull, or we're in a wave 3 as the EWave bulls opine, then I'll be proven wrong quite quickly.
Trade well, Allan
Yee ole roadmap:
geocities.com |
