test4

Thursday, September 24, 2009

Someone asked me why I load MIIF

Someone in forum asked me why I still load MIIF and plan to load more CitySpring even though my counts show that a top is imminent.

Other than the 3 reasons provided earlier, namely

1) Corrective waves could be complex. This is expected to be a corrective wave at the primary level right? It could well be an A-B-C-X-A-B-C or a A-B-C-D-E triangle... You never know if Primary B decides to extend and form an expanded flat to retouch 3900. Don't put the cart before the horse...

2) Impulse waves of C could have extensions too.

3) Although Elliott waves of different indexes do tend to move in tandem, there's no rule that state that they must do so.


My other 4 reasons are:

1) This is mainly for FA and dividend plays

2) Load into defensive dividend plays, downside risks low, receive dividends which will still allow me to load into growth stocks when correction comes

3) This one important: My wave counts are for STI, and blue chips are the one that will affect the index more, not small caps like CitySpring and MIIF

4) About to correct, yes, but my counts are that wave 5 is approaching, so there might still be some more upside

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