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

To: skinowski who wrote (9503)	12/3/2008 1:47:11 PM
From: Perspective	Read Replies (1) \| Respond to of 41419

Well, chalk one up for the waves - one that I didn't listen to. I saw the strength in the 10AM hour today, coupled with buying of bad news, and the proximity to the downtrend lines in many major indices and decided to add to hedges. Of course, the Elliot pattern was pretty obvious - an impulsive down Friday and Monday in NDX, followed by a fairly corrective looking bounce. All I had to do was sit tight and wait for it to reverse. C'est la vie. Now we've confirmed the corrective nature of this morning's bounce by overlapping the first wave up. If it seems that I'm getting especially wiggly these days, it is due to my heightened concern that we will break the downtrend line here in the "big 4". Don't know if it happens today, next week, or next month, but I want to make sure my hedges are tuned properly when that line is broken. `BC