From today's lows it looks like a new series of higher highs and higher lows has begun. Again, the extended third wave leads me to believe that new recovery highs will be on the order of 10 points rather than 50 points. Furthermore it's not necessary for all sectors to make new highs. We bought REG and SRS today, of which only REG remains. (BGU was day-only and triggered very late in the day; it didn't make sense to elect.) Wave 4 appears to have made a definitive bottom, so while this uptrend lasts prices should not fall below today's lows.
| Current Holdings | ||||||
|---|---|---|---|---|---|---|
| Ticker | Basis | Closing Price |
Perf. | Sell-Stop | Addl Exit Guideline | Chart |
| GS | 160.91 | 165.02 | +2.6% | 163.24 | N/A | Chart |
| FXP | 10.04 | 10.37 | +3.3% | 9.98 | N/A | Chart |
| SRZ | 2.19 | 2.17 | -0.9% | 2.04 | N/A | Chart |
| QID | 25.79 | 25.40 | -1.5% | 24.94 | N/A | Chart |
| VXX | 57.34 | 57.51 | +0.3% | 56.06 | N/A | Chart |
| REG | 33.27 | 33.21 | -0.2% | 32.09 | N/A | Chart |
No more shorts for the time being—it looks more and more as though new recovery highs are coming. If my read is wrong we already have a few shorts in hand to play.
| Ticker | Entry | Exit A | Exit C | Chart |
|---|---|---|---|---|
| UYG (Ultra Financials) | 5.84 | 5.49 | N/A | Chart |
| AMR | 5.88 | 5.49 | N/A | Chart |
| ABAT (Advanced Battery) | 4.22 | 4.04 | N/A | Chart |
| V (Visa) | 70.44 | 69.27 | N/A | Chart |
Please refer to "How To Trade The Ideas" (right-hand side) to read this table.
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