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Re: ospreyeye post# 30615

Wednesday, 04/23/2014 6:57:09 PM

Wednesday, April 23, 2014 6:57:09 PM

Post# of 45244
BCCI chart is a good study of Fibonacci.

Run started at .02 basically, ran to .20, and pulled back down to .06 very temporarily.


.18 gain, followed by .14 loss.

Overall, total Fib retrace was 66% @ .06, or 61% at the closing .07.

Under same duress and using .07 as the new consolidated bottom before the subsequent pop to .18, the 66% pullback would be to .106 (or so).

Hence, by Fib calcs, BCCI pulled back equally and exactly today, as it did 5-6 weeks ago, albeit in fewer days.

So, the $64K Q is, do we buy now, according to Fib calcs, or do we wait, and possibly miss out on the next leg up?