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

To: rayrohn who wrote (9738)	12/31/2008 2:12:29 PM
From: morokko65	Read Replies (3) \| Respond to of 41593

I think DXO gets to $4 area on this move, looks like the real deal: stockcharts.com Stochs should be north of 50 and RSI approaching 70 at this rate, need to get through the congestion in the $2.80-$3.00. I could see a gap up open to the $4s on some geopolitical news and backtest of the high $2s.

To: rayrohn who wrote (9738)	1/2/2009 4:20:17 PM
From: skinowski	Read Replies (3) \| Respond to of 41593

Your chart is exactly what I had in mind. In the wiggles, USO/DXO/UCO traced out what I thought was a Leading Diagonal out of the December lows. It seems that indeed that was the case. What followed (after your picture) was a consolidation for a couple of days, and then, in the last two trading days - wave 3 (or C). Would be nice to see a consolidation (4, which I think started today), and then a rally to new recovery highs. Another swing up would make the entire advance look like an impulse. A "fresh" impulse. We'll see what happens Monday. Happy New Year to all! Been traveling, just checking in when I have a chance.