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>Well yesterday sugar blew a lot of people out of the water. When every one
>runs for the door, that is the time to walk in (carefully).
>Any one has other opinion's let me know.
Varouj
If you remember, Alan Sears posted an EW analysis, on Dec 27 indicating a
downturn in response to my bullish view. So I put in a stop and reverse
order on my long position at 12,17. It hurt my pride, but did some good to
my miserable account. Thanks Alan, RT worked again.
Regards
Stig
ps
I am also including Alan's wave count aplied on the March contract ISO may.
There you can see how prices stopped at the 50% retracement of the (1)-(5)
rise. BUT we have retraced more than 78,6% of wave (5) which normally
signals a countinued movement (Down in this case) AND if we look at the May
and July contract they have both passed the 50% retracement line and wave
(4). I can't find any fib time analysis that either, that supports a trend
change right now. However Jeane Long in her "Trader's astrological Almanac"
has 1/16 as a possible T/C day for Sugar. Perhaps Wave 5?
Norman, You bought at 11,46. Do you have a reason you could post in public?
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