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I think we rally a bit this morning and then sell off into the afternoon. Not much downside here. Should be a "bottom" in a few days and then a charge up to see how high we can jam it again. Corey Rosenbloom had a good post last week --- a bounce would be no surprise, and even new highs before we finally see a top. http://blog.afraidtotrade.com/TraderGirl wrote:I posted this over the weekend:
""Daneric posts a nice count, but hasn't updated for Friday's overnight action, so it looks like we have more down to go.
http://danericselliottwaves.blogspot.co ... -2012.html
There are three turn dates this week, Monday, Tuesday and Friday. Monday looks like it will open down and it looks like we will get 5 waves down for this potential third wave, then it looks like we could turn up on Monday for wave (4), then turn back down Tuesday to complete wave (5). Friday has the potential of ending this correction..?? Astro's are indicating that April 21st thru 29th have very positive aspects and I think we could definitely hit new highs around that time...IMHO...
(Don't pay attention to price levels of attached chart...)""
Merriman has a turn date of 13/16th (+/- 3 days), so this matches well with a turn on Friday, but nevertheless, we could still see a bottom on next Monday the 16th...
Air America never died....they just morphed! http://en.wikipedia.org/wiki/Air_AmericaCobra wrote:rebound as expected. AAPL is strong.
I don't see the P bar, but now that it's lower, that's greater motivation to buy IWMKENA wrote:Don't want the bulls to get to excided but we also have a P bar on IWM at 81.67..But lets wait and see.