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Monday, November 9, 2009

Amazon squigglies

Well I did manage to short AMZN because it seemed to fulfill the final wave up that I was predicting last week. It has now also printed a black small spinning top doji candle.

I was looking at its squiggles and a nice 5 wave down move jumped out.

I'm putting my box method to the test on a 1 minute scale hehe. I figure if today's bottom was wave (i) then maybe a wave (ii) will test the virgin "third of a third" space on a retrace. If it doesn't then good cause I'm still short it.

I haven't given up on looking forward to an extreme reversal on the markets.

However, I think I capitulated in my mind in that lightning can strike twice in less than a week (last week's 8-1 up day reversed)
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