Sunday, May 4, 2008

4/5 Wave count

Only an exercise:
AAPL
27/4 Approaching Wave B (it's trying to go up, though)
4/5 Still going up, no signs of abatting.

AEM
27/4Seems to be after B going to C (trending down)
4/5 5 day MA turning. Wait for LSM and trade North.

ANF
27/4 Seems to be trading (non-trending) (34 EMA looks sideways on long term)
4/5 5 day MA turning south. See other indicators.

AXP
27/4 34EMA flat now. Could not wave count.
4/5 Uptrend but wait for other indicators.

BIDU
27/4 34EMA in uptrend. C - trending up. wait for u-turn signal.
4/5 Ell at all time high but Ell Osc turning.

CAT
27/4 Seems to be still in a new Wave 1 uptrend. However, recent actions has signs of red sea crossing - watch.
4/5 Red sea crossing was rather flat. Ell OSC turning down.

CF
27/4 red sea crossing over? Seems to be turning around from Wave 4 going to 5 - however, trend peaks failing retracement value . Play ZLR.
4/5 Noticed that 5 day MA turning very good for detecting turning points. an once 5 day cross 34, it will continue. Still waiting for ZLR. price resting around 34 EMA.

CLF
27/4 seems to be very toppish and end of a Wave 3. See how it goes.
4/5 3 days of successive selling. Ell now turning downtrend. Red sea crossing evident.

DRYS
27/4 seems to be wave 1 of new trend. However, top is not fuly reocevered. wait for Fish.
4/5 Ell flat so could not tell trend - need to watch. cci showed almost ZLR with turbo pointing upwards.

FCX
27/4 near Trend 3 and turning?
4/5 ELL turned, showing downtrend but a number of whipsaws present.
-be careful when trading this. but at extreme turning points, confidence of trade is good.

FDG
27/4 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.
4/5 ZLR ! Having seen that 27% of the world's coal is in US and oil price so high, then coal is still a strong growth stock.

ISRG
27/4 can't tell the wave count but could possible wait for a countertrend trade on cci or a u-turing on IFT.
4/5 Ell crossing to upside and small buying interest in last 4 trading days.

MA
4/5 Elliott going upside but most likely exhaustion gapping. Red candle appeared and possible of reversal becos of recent runup.

MER
27/4 uptrend - going towards establishing Wave 1
5/4 Uptrend still intact even though Red candle appeared on Friday.


MON
27/4 seems like at Wave 5 but don't be too happy 'cos grain in high demand currently.
4/5 Trade ZLR. Almost 3 doji's past 3 days. Wait for cci signals.


MOS
27/4 140 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.
4/5 ZLR but no green LSMA? Wait and see.

MTL
27/4 Either Wave 5 or extension of Wave 3.
5/4 This stock like to reject 34EMA. Friday's stock action rejected it.


POT
27/4 Could be at Wave 3. Anyway, this stock has very good potential.
4/5 Wave 3 gone. Most indicators are down.

RIMM
27/4 Almost in trading markets. could trend higher.
4/5 Friday gapped up. Ell is still sideways.

SHLD
27/4 almost at bottom of chart.
4/5 Looke like a ghost on cci. Ell is sturing up. With Americans receiving their check, it seems that they might go and buy and hence retail bullishness.