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楼主 |
发表于 2012-5-23 03:18 PM
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No medium or long term trade today. The following explains my portfolio as of today's close:
Long Term - Big troop dolloar amount allocation: TLT 50% cash 50% (no change)
Medium Term - Small troop stock holding: EDZ, FAZ, TZA (no change)
The market dipped down to 1296 (remember 1293 last week?) in the morming and surged up back to prior close in the afternoon. The price action told us two things: 1. 132x is resistance area, and 2. 129x is support area. Therefore, the market could form a flat consolidation in between those two areas. The consolidation could be diagonal triangle, and the end of the consolidation will be either the end of this week or the beginning of next week. If this is the scenario, the end of the consolidation should mark the end of wave-4, which means a wave-5 next week is still possible. (A long solid red surge will void this asssumption.) Again, this bear run is far from over! DO NOT buy into any dip! |
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