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

To: skinowski who wrote (9296)	11/13/2008 10:54:15 AM
From: Perspective	Read Replies (1) \| Respond to of 41411

Yes, that's great advice. Stick with the triangle theory until proven otherwise. And that would say to watch out for a massive short-covering rally lurking. So far, today is a puzzler for me. They managed to open it without a major selloff, then even produced a convincing enough 10AM move - after amateur hour was over - that I went ahead and bought some hedges to reduce short exposure. Now we're bleeding pretty hard again. Odd to see the 10AM move fade so quickly. That was no small piker in there buying the 10AM low. I guess the odds would favor the next few hours being choppy corrective of the 10AM move. If we were going down hard, I would have expected them to tip their hands at 10AM, or just gapped it down hard to produce a short-term climax. This isn't what I would have figured on at all. Standing a little more hedged, hoping to have my eye on it if the wave "e" should develop... `BC