9/14/10

12:40 PM

I'm thinking we are only working on the end of a 3rd wave here.

9:40 AM

It's pretty obvious by now that we have clearly been in a range between 1130 and 1040. We are approaching the top of the range now.

The question is do we take risk off and take our profits from the 1040 low. Perhaps just take some off the table and let some of it run?

It certainly wouldn't hurt. But one must also think about some of the indicators pointing to a potential break above 1130.

Have to run for now but those indicators such as MACD, bullish EW count and the MAs are something to consider. Any pullback in the near term can probably be bought IMHO.

7:30 AM