Friday, August 13, 2010

Short on the weekend, and sleeping well.

I took a shot today based on time fibo's. Typical corrections take between 38.2 and 61.8 of the time of the preceeding impulse. The max time allowed is 100%. As shown on the chart the 100% time extension of the big move this week is Monday. Buying Puts to hold for a couple days isn't too risky, and when the reward is off the charts, why not?  As an added bonus, check out what happened to the Dollar EOD. Should have bought more.

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