wahz: Keep in mind that targets and time frame windows going out that far by anyone are just guesses. Some more educated than others, and some folks being correct more often than others.
I rarely do time/price projections; I use my system to suggest price targets, then I follow my technicals as the market oscillates up to those targets or not. I do use my own form of pivot point target dates, but I rarely post those publicly.
I am basing my rally expectation off my longer-term chart work. Until recently I used WOW's Day Trader software, but now I am using Trade Station and am still tweaking it. As always I could be wrong, most might say it is likely I am wrong. Heck, I did expected the Sept01 low to hold. However, the drop below produced a low that I believe will eventually prove to be more significant than the one that occurred on Sept01.
However with this volatility, I recommend trading off this low for now, rather than taking a medium to longer-term position. Once a profit pad is in place, one can relax the stops to a more medium to longer-term trail.
Regards,
LG
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