We’re almost there – I can smell it:
On a very short term (minuette or smaller) degree I am counting an abc-x-ab, which hopefully will be followed by a nice long c wave leading to 853. I didn’t un-hedge yet as my stochastics promised a bit more of that coveted upside. So, here’s a call out to all you perma-bulls: Please push the tape higher – you can DO IT! 🙂
Nothing else has changed really – same evil plan we’ve hatched over two months ago. Hopefully soon will come Igor’s time to pull the switch. Here’s something to get you in the spirit of things:
So the formula here is pretty simple. Uncover at the next fibonaaci line – see if it breaches. If it does – cover again and wait for the next one. Frankly, I have no idea how high this thing can go – usually it goes higher than you think. If we breach the Jan 28 high than the green scenario [intermediate wave (5)] might not be unfolding yet and I would happily load up on more puts around 900/920.
Gold behaved today after an early morning scare – I’d feel more comfortable to see some distance between my enty and where it’s trading. However, the fact that it did not participate in the early morning push upwards is promising.
TLT at 102 now – I feel like an idiot having sold mine at 110 – jeeezzz.
The Dollar painted 9 waves to the upside and then dropped hard today. A count of 9 is fine for a motive wave and perhaps this is wave A of a corrective pattern.
All I got for tonight – as I said – we’re getting close. Your mission now – should you choose to accept it – is to somehow pick the best spot to leg out (or load up for some of you rats) without incurring too much of a loss in any ensuing whipsaws. I was lucky last time when I bought puts at 944 – I don’t expect to be lucky twice in a row and will cover immediately if I sense any monkey business. Anyway, I’ll be around to keep you guys in the loop.
FYI – required reading tonight. No, you won’t be tested 😉