Did you get back in down at that 400 level when we last spoke?
With this move up today, HUI clearly kills any chance at the impulsive down correction, except for the extreme scenario of 1-2-i-ii, which seems too extreme to me.
The question now is: Is the correction over, in which case I am screwed and wrong about the degree of the HUI correction, or are we headed to many months of more jello and what we are seeing here is nothing move than a 'b' up, with a 'c' down leg to come as the brother to the leg into the May 1 low?
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I said:
I think one has to buy HUI here with a stop against this week's low. While shy of 375, it just might be done here. It is shy of the a=c target for a simple correction, but not by much.
I would have so much preferred a scarier test for the simple a-b-c correction case, something around 360, but I do not intend to be shut out, so this might take multiple tries to get on board.
I actually do not favour that HUI is done correcting, but this is the first time in about 6 weeks, since getting out, where it could be finished an a-b-c off the highs.
You said:
i concur . but if it were done, what kind of a move out of the lows would you expect? do you think one needs to be prepared to be stopped out here and reneter even higher?
I am out except for my juniors postion. |
