Saturday, April 26, 2008

26/4 Wave count

Only an exercise:

AAPL - Approaching Wave B (it's trying to go up, though)

AEM- Seems to be after B going to C (trending down)

ANF- Seems to be trading (non-trending) (34 EMA looks sideways on long term)

AXP - 34EMA flat now. Could not wave count.

BIDU - 34EMA in uptrend.

C - trending up. wait for u-turn signal.

CAT - Seems to be still in a new Wave 1 uptrend. However, recent actions has signs of red sea crossing - watch.

CF - red sea crossing over? Seems to be turning around from Wave 4 going to 5 - however, trend peaks failing retracement value . Play ZLR.

CLF - seems to be very toppish and end of a Wave 3. See how it goes.

DRYS - seems to be wave 1 of new trend. However, top is not fuly reocevered. wait for Fish.

FCX - near Trend 3 and turning?

FDG - signs look pretty bearish but this stock has a tendency to reject 34EMA and coal is bullish at the moment. Looks like at Wave 3 peak.

ISRG - can't tell the wave count but could possible wait for a countertrend trade on cci or a u-turing on IFT.

MER - uptrend - going towards establishing Wave 1

MON - seems like at Wave 5 but don't be too happy 'cos grain in high demand currently.

MOS - 140 is the highest high ever achieved. Almost a Wave 5 count. But if it continues to build new highs, then it is just an extension of Wave 3.

MTL - Either Wave 5 or extension of Wave 3.

POT - Could be at Wave 3. Anyway, this stock has very good potential.

RIMM - Almost in trading markets. could trend higher.

SHLD - almost at buttyon of chart.