Covered short ES this AM, best guess right now is that the ES is in the final leg of a triple zig zag correction off last Tuesday's low. Target is the .786 retrace of the prior sell off@ 1272.00.
Monday, 11/7/11 update
Covered short ES this AM, best guess right now is that the ES is in the final leg of a triple zig zag correction off last Tuesday's low. Target is the .786 retrace of the prior sell off@ 1272.00.
CYCLE - Green - I, II, III, IV, V - A, B, C, X PRIMARY - Red - I, II, III, IV, V - A, B, C, X MAJOR - Blue - 1, 2, 3, 4, 5 - a, b, c, x INTERMEDIATE - Purple - 1, 2, 3, 4, 5 - a, b, c, x MINOR - Red - 1, 2, 3, 4, 5 - a, b, c, x MINUTE - Green - 1, 2, 3, 4, 5 - a, b, c, x MICRO - Black - 1, 2, 3, 4, 5 - a, b, c, x NANO - Black - (1), (2), (3), (4), (5) - (a), (b), (c), (x)
Manage apple orchard & processing business full time - trade part time
Traded cattle futures professionally for family meat packing company in 1980's
Also traded stock indexes for own account
Won the US Trading Championship - Options Division in 1986 (500%+ return in 4 months)