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Strategies & Market Trends : CFZ E-Wiggle Workspace -- Ignore unavailable to you. Want to Upgrade?

To: the-phoenix who wrote (4613)	2/11/2006 1:08:17 PM
From: venividivici	Respond to of 41483

There are definitely some things that have me worried I missed the bottom and the move up made me feel like I was being kicked in the balls repeatedly yesterday afternoon, but until we take out 41.37 on the QQQQ (or, being more conservative, Friday's late afternoon high, from which we made a pretty nice reversal including in A/H), the wiggle bearish scenario remains in place for me. In fact, we pierced the 50% retrace of the October-January move when we went below 40.32. Now, we found support right away and bounced, but I wonder if going below the 50% retrace means the 61.8% retrace is on tap? That's at 39.61. I know it's sorta FA-ish to mention, but GOOG's negative write-up in Barron's could be the thing to get psychology good and negative to hit that 61.8% retrace level. Most likely I get shaken out of my current short and then we plummet. That would be exactly in line with how this past week went for me. <NG> Not to jinx myself, but I had a pretty good week. Maybe my luck will be the one that plays out, rather than yours! <g> Actually, though, I find e-wave to be very good at defining entry points after being shaken out. When the count is right, getting back into a short when it undercuts a prior low can be very profitable.