Profunds index and sector trading

[augieboo]

"so under aj rule number one we should go higher?"

Yep. The man does NOT believe in triple tops or bottoms.

OTOH, it's not really a triple top unless/until price closes below the lowest point in the formation, so we really could go down and then back up.

But, as ajtj99 says, potential triples tend to resolve more quickly than that.

As to next week and beyond...

Well, it's quite obvious that we have to tank from here, which is exactly what makes me scared to believe that we will. I'm going to have to try to figure something out over the weekend.

In the meantime, I'm going flat at the close, for several reasons:

1. I got away with a trade I never should have made, so I don't want to tempt fate;

2. It's OPEX, so anything can happen on Monday;

3. It's a major holiday weekend, so Da Boyz have a stronger than usual motive to paint the week green if they can, regardless of how they feel about things longer term.

4. I just (finally) got Alexander Elder's book, Trading for a Living and it has already opened my eyes to quite a few things. So I want to be able to study it this weekend without worrying about having any open positions.