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Either way.... lower lows and lower highs remain the trend, and all rallies should be shorted or sold.
SG expects a move below 24 near term on the Q's, if not today...
So, there you have it. After a non day on Monday, we got the sub-24 today to 23.85. Somehow it rallied into the close (surprise surprise, cisco was on deck)...
I expect 23.37 to be hit near term, as in tomorrow or Thursday sometime likely...
There is not a whole lot to write about here kids, we are in a minuette 3rd wave of a 3rd.... and its unfolding.
It started at 24.79, hit 24.06.... 24.29, then 23.85, then 24.15 at the close....
Lower lows, lower highs.... simple stuff.
The real thunder has not even been heard yet, the crack is coming....
Im staying 200% short, any upside moves tomorrow from Cisco should be shorted.
If I wanted to be anal and recalculate... here is the potential...
Minuette leg 1 from 24.79 to 23.85 today's low....
Minuette leg 2 from 23.85 to the 24.25 closing print (current ah quote)
Minuette leg 3 from 24.15 closing print to 22.63 per share
No matter how I keep slicing, dicing, re calculating... it all keeps bringing me back to the 24.50 ish range.... plus or minus 10 cents...
At that point I MAY cover short term... until then, its calling the markets after the fact.... or in my case, sometimes calling them before...
Good luck and comments welcomed... the trend is your friend...
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