Friday, July 10, 2015

[SNE] update

In the backlink the strategy was to buy and then set EW based stops.  That was good for over 4% today.  While nobody knows for sure what will happen next, the odds never favor holding long when I see 3 waves back up to the level of the prior 4th which corresponds to the 38.2 fib.  That's where SNE petered out today.  I would be out of this for sure, who cares if it pops on Monday.  You have to play the odds and take what they give you.  Besides, if the bullish model is in play (red) you will likely see a move up to the 50 as shown and then 3 waves back to current level.  Then you can get back in risk free.  But if you stay in over the weekend you could possibly hit 3 of 3 down with a gap.


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