Wednesday, February 16, 2011

2/16 pre-open

I1 peaks 2/22 for a minor move down to 3/4.  This predicts continued upside extensions to wave counts, which count complete at this time.  My strategy is to avoid direct stock market committments until 3/25 or break of the DJI 5-minute, 370-unit M/A.  If the M/A is broken then look for short entry on a bounce and exit on 3/3 or 3/4.  Current break point is 12,055, which is less than 1.5% away.
Currently I'm holding 2% DZZ, 1% ZSL, 4% TLT, and long DX futures.  All of these positions are on the other side of the risk acceptance scale from stocks. 

1 comment:

  1. You are correct that there are frequent gaps on the DX due to ICE schedule. However, it has been my observation that they always get filled, even as the components of the index do not themselves exhibit gaps corresponding to the timeframe in question.

    DX appears to be trending down, a fill of the 2/10/2011 gap would take it down just above the 61.8% retracement, according to my chart.
    -TR

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