Yes, I saw your plan with regard to FITX, and I'm glad as hell, but not as glad as you are, that you didn't get your buy trigger pulled. I've been watching FITX for a while. I noticed that you counted the upsurges differently from how I would have. I would have counted the waves as three (and therefore completed) at .02, .05, and .11, more or less. See it? I think you missed the first wave and didn't count it. But Elliot wave theory is always subject to interpretation. And the pinks are a whole different kettle of fish. Fundamental principles still apply, though.
My trade today was based on basic retracement theory, the 50% level coinciding with the 50-day moving average. I much prefer to buy retracements rather than breakouts, as you may recall, but that's just a difference in our trading styles. I'm a cheap bastard. I just won't buy a rally under any circumstances. I sell 'em. To each his own. The cool part is that I spotted it early and traded accordingly, according to plan, as you taught me. The massive volume there let me get a big load in and a 50% bigger load out within hours. Thanks. My work is done for several months.
Please do me a favor and check out that BVIG situation. I hate those insiders there with a purple passion, but one must divorce oneself from one's emotions if one is to be successful trading these stinky pinks. I have little doubt that a patient trader can get a good return by sneaking into that one and waiting to see what kind of bullshit story they come up with next.
Later, my friend.
Eddie
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