Procrastination, the killer of success

At the start of 2010, I set myself a goal of writing a guide book for A level tuition students. Yet everyday, I reached home, tired, sleepy, wanting to look at my equities portfolio, watch some youtube videos to relax, before calling it a day. I tell myself, I will do it tomorrow.

But tomorrow never comes.

And so, that's how procrastination began for me. For the whole month, I did little to push myself forward to complete this goal, giving myself excuses that I have to do this first, do that first. The result? 0.001% accomplished on this goal.

Indeed, procrastination is a sure-fire way to avoid success. It is the act of not being productive. Procrastinators sabotage themselves, put obstacles in their own path, and choose paths that hurt their performance. Procrastination can be blinding. It blanks out one's sense of priority and overtakes one's reason. Unimportant things take precedence, while important things are left aside undone.

Studies show that procrastination is the greatest enemy of all productivity and inner motivation. When you postpone any work or goal, you are burdening yourself with guilt and work that should already be done, but still undone. The thing is, things that are not done now will still have to be done eventually... so why wait to do them? It is very easy to say "I will start doing it tomorrow". It's still acceptable if that's occasional, but if it becomes the rule, you might as well forget about the goal; your drive to complete it isn't strong enough.

So how to reduce or eliminate this deadly sin of procrastination?

1) Make your goal a must
How many times have you found it hard to wake up in the morning to go to work? You off the alarm, and tell yourself you will take just another 5 minutes more of sleep. The cycle repeats, until suddenly, you are extremely awake! Reason? You are late for work!

Another example I experienced personally. In schools, project work are usually given at the start of the semester. There's more than sufficient amount of time to do. Yet.... such projects are usually left undone, or progress at a very slow pace... until just a week before the deadline. Within that one week, the team is suddenly able to finish the project whose timeline was originally 2 months. 1 week to finish a project that's given 2 months time.

Why does this happen? In the first scenario, initially, your alarm is ringing early enough, so it's not a must for you to get up immediately. But when you are late, it then becomes a must. Immediately, you become wide awake, ready to rush out to work.

In the second scenario, initially, you feel that there's a lot of time, so there's no need for rushing. Yet when it is very near the deadline, it becomes a must to finish the project asap.

By making your goal a must, you will have a motivation to accomplish it. You know you have to complete it.


2) Set a timeline
Without a timeline, one tends to postpone their goals as there are no urgencies. "I will do it tomorrow" comes ever so commonly.... and as mentioned earlier, tomorrow never comes.

Set a realistic deadline for each goal and outline the rewards/consequences of doing and not doing it respectively. As humans, our inertia to change or move is usually large. It's very easy to procrastinate and continue doing it forever. Yet once you start, your momentum will continue to push your forward until your goal is accomplished due to the same inertia.

Moral of the story, just start. As Nike puts it: Just Do It.


3) Make your goals clear
Have a very clear goal. Without a clear goal, you wouldn't be able to go about achieving it properly. Imagine you are going to build a house, yet other than laying bricks, you do not have a clear plan on how to build it. You do not have a floor plan, an electrical plan, a piping plan, etc. What would you get in the end? Perhaps a mess, or just a brick wall, but definitely not a house.

Nothing comes out of thin air without planning. Do you think any of the successful people you know got there and discover themselves in their shoes one fine day after waking up?

This reminds me of my junior college days. I applied for scholarships, and went for interviews ill prepared, without knowing much about what I should do. I didn't have a clear goal of what I wanted. On the other hand, my friend planned for his scholarship since his secondary days. He joined CCAs, worked hard for leadership positions, worked hard for good results, and continued with this all the way to the end of junior college. In addition, he knew which scholarship and career path he wanted, and worked towards it. Needless to say, I didn't get any scholarship at that time. My friend got the prestigious Singapore Police Force scholarship.

With this lesson, I planned and prepared for my next application. I took up German as a soft skill because I know I'm not as good in communications, and German classes would help in that as well. In addition, I prepared extensively for my interview, researching on the company and it's career paths. Finally, for the interview, when a mini presentation was required, I put in extra effort to ensure mine was unique, interesting and catchy. In addition, I rehearsed my presentation over and over again to make sure I will be smooth in my delivery and able to match the 10 minutes time given. This time round, I got my scholarship. I knew what I wanted.


The above are 3 basic ways of reducing or eliminating the act of procrastination. Remember, if you are going to do something, make sure you do it. ASAP. Not tomorrow, not later, but ASAP. No one will help you if you procrastinate.

Strategies for managing my expected downturn

Ok, I'm expecting a 3 waves down for Primary 2, given that Primary 1 has completed at 2947.

So what are my strategies? I'm not one to short or do day trades since I still have office work to look after.

1) I will be conserving cash from salaries and dividends to prepare to load nice stocks.

2) Looking to exit certain trading stocks if possible. Do not be greedy. Lesson learned from LC Dev recently, where I went from $400 paper profit to $600 in paper losses now because I was too greedy not to take profit.

Starhill Global Reit Dividends

HIGHLIGHTS
• 4Q 2009 income to be distributed of S$18.8 million represents a 5.6% increase over 4Q 2008
• Acquisition of David Jones Building in Perth completed in January 2010

SINGAPORE, 28 January 2010 – YTL Pacific Star, the Manager of Starhill Global REIT - the S-REIT with the largest presence in Orchard Road – today announced that Starhill Global REIT’s fourth quarter (4Q) 2009 income to be distributed was S$18.8 million, 5.6% higher than that of S$17.8 million in 4Q 2008. Distribution Per Unit (DPU) (post-rights) for the period 1 October to 31 December 2009 was 0.97 cents, 5.4% higher compared to the restated 0.92 cents1 achieved for the previous corresponding period. On an annualised basis, the latest distribution represents a yield of 7.33%. Starhill Global REIT’s portfolio of 10 properties was valued at S$1.98 billion as at 31 December 2009, up from S$1.95 billion as at 15 June 2009.

Approximately S$2.0 million or 2.6% of the income available for distribution (comprising overseas income) for the year ended 31 December 2009 has been retained to satisfy certain legal reserve requirements in China and for working capital and capital expenditure purposes. Starhill Global REIT remains committed to distribute 100% of its Singapore taxable income.


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20 lots, so my dividends will be $194.

STI Chart

Basic channeling... Busy, so shall just give a quick chart:

Basically, STI closed exactly on the support line yesterday. Possibly the end of wave 1? Rebound should be coming anytime soon, based primarily on wave counts...

Only with the end of wave 1 can a fibonnaci estimate of wave 2 be given...

There are 2 cases in my mind.

Case 1: Bearish scenario (wave 4 no longer an ascending triangle)
STI will rise up in a wave 2... Rebound time... But we will not exceed previous high.

Case 2: Mid term bullish scenario (wave 4 is still an ascending triangle)
Wave 5 might have started at 2605, and we are in an expanding diagonal. We will see 2947 broken.

I'm leaning more towards the Case 1 Bearish Scenario.

Straits Times Index Elliott Wave Update

The tide has changed. This is my updated count of the last two waves, wave 4 and 5, for Straits Times Index:

We have now an A-B-C flat instead of an ascending triangle. STI was in a rising wedge, and this wedge has now been broken down. Counting this, STI could possibly have reached a top near the 61.8% retracement level of 2968.... by touching 2947... The start to a multi-month correction could be in the works. On a more general picture, the rally from March will be recounted as Primary Wave 1. Hence, we could expect a A-B-C correction beginning...

In this bearish wave count, the interim top has arrived. STI should complete the first stop soon, with the 61.8% retracement level to be at the 2718 region. This is near the 100MA support line, and the multi-month support line. Wave 1 of A downwards wouldn't have the strength to mount a super bear strike on these supports.

A few other indicators to support the rebound. %R is at a low, CCI is very low, stochastics appear to be crossing positive. A rebound to around 2860 region could be possible to lure in more bulls thinking that 3000 will be broken in the interim. This region would be a 61.8% retracement from 2718 to 2947, assuming that it being a wave 2 of A. In addition, 2860 marks a place near to the resistance of the multi-month channel in the chart.... giving STI a good excuse to finish wave 2 of A at that region.

Let's assuming all the counts are correct... wave 3 of A will be scary... Wave 1 of A has already taken 207 points... Assuming wave 3 of A is 1.618 times of Wave 1 of A, then we could see a 300++ points drop to the 2500 region... Overall, to complete this multi-month correction, we could truly bottom around STI 2000 region....

Indeed, it's time to offload some stocks if possible, and it's not a time to go long for the long term at all.... 12 days for wave 1 of A? Wave 2 of A will be quick...

Really hope I'm wrong about the bearish counts :( But circumstances don't seem to support non-bearish views at all. Unless STI breaks 2947 for new highs, this seems like the case....


In layman's term..... RUN FOR YOUR LIFE AT THE COMING REBOUND!!!

Portfolio Updates

Been quite some time since I updated my Portfolio here...

My portfolio is mostly unchanged, except for extra Singtel lots I bought.

Dividends Basket -- Mainly for dividends
6 lots of SPH @ 3.65
6 lots Capital Commercial Trust @ 0.84
13 lots of CitySpring at 0.51 (7 lots from rights)
16 lots of Macquarie International Infrastructure Fund at 0.305
2 lots of ST Engg at 2.28
20 lots of Starhill Global Reit at 0.525
6 lots of Starhub at 1.895
26 lots of GRP at 0.20

The total cost here is about $70k and the expected average monthly dividends is about $470.

Investment Basket -- Mainly because I like the business or for growth
5 lots of Breadtalk at 0.37
2 lots of Capitaland at 1.64 (averaged down by selling 1 lot at $3.50 before)

Trading Basket -- Hoping to sell off
30 lots of Hor Kew at 0.125
20 lots of LC Dev at 0.21
2 lots of Cosco at 2.67
60 lots of Berlian Laju at 0.117
20 lots of China Sky at 0.245
4 lots of Singtel at 2.99


I've only 6k opportunity funds left, which is bad!!!!! But I guess with pay day coming in a week's time, dividends from CitySpring, CCT, Starhub, Starhill coming between Feb to Mar, my funds should be robust again by then.

STI Expanding Diagonal?

I see a lot of bearish views lately. But has STI really picked? Was it really a mini wave 3 downwards? Only time would confirm our counts. But for now, STI could still be in the 5th wave.

Before more waves are uncovered, I wouldn't put my 100% (or rather, 80%) in this. Contrarian approach seems to suggest to me that I should remain bullish instead of getting bearish. Based on this, STI would be tracing an ending expanding diagonal. An example of such an ending expanding diagonal has been shown by Frost and Pretcher.

The million dollar question remains....

Has STI reversed it's bullish trend? Or is STI tracing out this expanding diagonal? Only time would tell.


But before going deeper into waves count, classical Technical Analysis shows that STI has broken down it's rising wedge:

In addition, CCI is at a low, %R is low, MACD (lagging indicator) has crossed down for some time.... STI is also below the lower bollinger band... All these are hinting to me that a rebound is likely coming in this coming week...

Expanding triangle? Or wave 2 upwards anyone?

Private Equity Cos Awaiting Specifics On Obama's Bank Proposal

The following news could be the reason for the recent selldown. Bearish market could have commenced. I would probably sell some on rebound.

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NEW YORK (Dow Jones)--President Barack Obama's proposal to rein in banks contains a number of provisions that could have a serious impact on the private equity arms of banks, as well as the private equity industry overall, depending on how the vague outlines unveiled Thursday are filled in.

Obama said in his remarks on the proposal that "banks will no longer be allowed to own, invest in or sponsor hedge funds, private-equity funds or proprietary trading operations for their own profit, unrelated to serving their customers."

Some say the clause at the end of that statement about serving customers may provide a loophole, as most banks would argue that their PE investments do just that. But the proposal nonetheless could mean any private equity or venture capital firm run by a bank would need to spin out on its own or wind down.

STI Updates

A clear A-B-C waves down to perhaps complete wave 4 of the larger degree? The strength and breadth and magnitude does not equate to a subwave of the 3rd wave.

The ding-dong between 1-2-3-4-5 now occurs within a proper channel instead of a rising wedge. At the moment, STI sits nicely on the parallel support of 2850.

Could tomorrow be the turn for rebound? Or could my counts be wrong and STI moves much much lower? :(

My main question now is whether it is a failed 5th wave and we are on wave iii downwards, or if we are still in wave iv correction. If it is the former, i.e. the failed 5th wave scenario, I guess we can already say sayonara to our market.

It's getting dangerous... Not a time to enter for long term investments...


Anyway... here comes rebound time....?

Extra Update:
2800 support appears to have held... Recount of waves might be required as wave 4 as crossed into wave 1 territory.

STI Updates

Although I had wanted to sleep early tonight, I find it pertinent to update the count.

I have 2 possible scenarios. The not so preferred one is that this is the blue 4 of wave 5 in the yellow box. Why it is not preferred is because the wave ii is a simple abc that took a few days, so wave 4 could likely be complex due to the rule of alternation.

The count above shows my preferred count. Wave iv is in a symmetrical triangle with declining volume. In Elliott Wave counts, triangles are a continuation of the previous trend. The previous trend is an uptrend, so the likelihood of breaking upwards is high. However, I do not expect that this breakout will exceed our 61.8% fibonacci retracement line at 2968. The strength of this 5th of 3rd wave wouldn't be that high.

However, being a more mega wave 5, wave counts tend to be a little more fractured, so the counts might go wrong or haywired. It's definitely a time to be even more cautious than before. I shall go on the defensive, and take profit on my pennies whenever I can... i.e. LC Dev... {could have but didn't}


Extra update:
Wave 1 ==> 19 candles
Wave 2 ==> 4 candles
Wave 3 ==> 36 candles so far

Extra update 2:
STI must hold 2880 today. If it does, it will become a corrective wave iv of descending triangle formation. If not, a recount required.

Extra update 3:
STI did not hold 2880. Offhand, extended wave 3 count has not been violated... but it could possibly be completed earlier than I thought...

STI Updates

Chartnexus is really slow in updating the STI index nowadays. I added the last candle myself... and the indicators are one day late...

This is another count of the 5th wave instead of the ending diagonal. However, STI is still in a rising wedge. This count comes to mind because of the strength of the 3rd wave. In an ending diagonal, the 3rd wave would probably not have such strength and breadth.

Appears that correction might have ended. STI might probably go into the 5th of 3rd wave to complete at the 61.8% fibo line (2968) where most people seems to be expecting.

Following which, a possible 4th wave to a maximum possible of 2803 before the count gets invalidated, and finally, the 5th wave, which could bring us to new heights.

However, being the 5th of 5th wave, the likelihood of that final expected wave would likely find it hard to break the 3000 barrier since it wouldn't have as much strength. That would perhaps be the trigger to say bye bye rally.

I shall stick to my counts until it fails. Would most likely start moving some funds into defensive sectors like SingPost instead. Have to see how it goes as the waves unfold more secrets.

STI -- My Attempt on Andrews Pitchfork with Elliott Wave

The following is my attempt of using Andrews Pitchfork together with Elliott Wave counts. As of now, I'm on the fourth count of the 5 wave impulse extension of a 3rd wave. The Andrews Pitchfork begins on the first of the 5 wave impulse, starting from 2729.43 on 30th Nov 2009.

In Andrews Pitchfork, we are supposed to identify A pivot point followed by B and C as the peak trough pair. In my experiment here, A is the start of this impulse wave, followed by B as the end of wave i and C as the end of wave ii.

This is just an experiment; it may or may not succeed. In this experiment, STI should be bouncing off the bottom of the pitchfork, marking the end of the 4th mini wave and beginning the 5th mini wave.

Let's see how this goes....

Singtel Part 2

Looking at Singtel's chart, it looks like 200MA is a sufficiently good support. In addition, 50MA has joined the fun by going parallel to the 200MA, and functions as a 2nd MA support.

Fibonnacci wise, STI bounced off the 61.8% fibo line taken between $2.86 to $3.16, and is currently at the 50% fibo line. It is also at the 50% fibo line between $1.94 to $3.52... Good support?

Applied for HDB's Hougang BTO

The HDB Hougang BTO's location is a little disappointing to me... The location isn't that ideal...

The description given by HDB:

At Buangkok Vale in Hougang, you will live amid lovely landscaped grounds that feature a variety of leisure and fitness facilities. Shop and dine to your heart’s content at Hougang Mall and Hougang Plaza. Enjoy island-wide connectivity with the comprehensive bus and MRT networks provided by the Buangkok MRT station, Hougang MRT station and bus interchange. Prices start from $88,000 for a 2-room flat, $142,000 for a 3-room flat and $231,000 for a 4-room flat.

First of all, why did they even bother to call it an Hougang BTO when it's at the Buangkok and Yio Chu Kang junction? :(

The nearest fitness facility is the park connector that leads to Punggol Park.... Hougang Mall and Plaza are not exactly very near (other than the common chin up bars around the region).... The nearest is Hougang Festival Market, which is still about 2 to 3 bus stops away, or 10 mins walk if we cut through the HDBs separating Buangkok Vale... Sheng Shiong is just as far as Hougang Festival Market is... The nearest super market is Shop N Save, which is about a few minutes walk...

It's not within walking distance to any MRT stations as well. You need to take bus to the different stations... My estimation is 10 mins to Buangkok MRT by bus 43, 10 mins to Hougang MRT by bus 72, 20 mins to YCK MRT by bus 70, 15 mins to Sengkang MRT by bus 159 and 156, 15 mins to Serangoon MRT by bus 70 and 103, 25 mins to Yishun MRT by bus 854, 20 mins to Bishan MRT by bus 156 or 88, 15 mins to Ang Mo Kio MRT by bus 88.... Nothing special in my opinion...

The surrounding amenities aren't that great as well. Everything is near with a car, but everything is very far without.


But..........................................

I still went to apply it with my girlfriend. At 93 sqm, the price works out to around $250 to $300 psf... Still acceptable for a pigeon hole in this location amidst the property fever I guess...

Breadtalk

Because of the mania in the rise recently, I was considering to sell Breadtalk today, then checked my chart:

It looks like a big bullish flag or pennant formation with a descending triangle in which Breadtalk broke upwards. The pole started on 28th Dec 09, which I didn't draw out.

Because of this bullish technical formation, I have decided to watch the price actions before deciding to sell. Imminent breakout in progress. Kim Eng also mentioned their target price as 86 cents last year.

STI Updates -- Rising wedge still remains

The expected retracement came quite quickly.

As of now, STI is approaching the support of the rising wedge. A possible scenario is that it will reach and bounce off this support line for the final actionary minor wave 5 of 5.

Moving on, supposed we are still in a bull, I expect resistances to build up around 2968 61.8% retracement level, and 3000 psychological resistance level. The probability of breaking these values is unknown at the moment. My take is that 3000 will present as an extremely tough resistance to break...

If 3000 does break, then I would have to change my wave counts to my alternate counts...

Bought Singtel

Bought Singtel based on my previous TA chart.

The simple method:

If it goes up to my expected $3.30, I will sell.
If it goes down, I hold and keep for dividends.


Simple method for a simpleton.



This effectively increased my Singtel holdings to 4000 shares at an average of $2.99.

Portfolio Update

A quick Portfolio Update:

My portfolio is mostly unchanged, except for the extra 10 lots of Starhill that I bought.

Dividends Basket -- Mainly for dividends
6 lots of SPH @ 3.65
6 lots Capital Commercial Trust @ 0.84
13 lots of CitySpring at 0.51 (7 lots from rights)
16 lots of Macquarie International Infrastructure Fund at 0.305
2 lots of ST Engg at 2.28
20 lots of Starhill Global Reit at 0.525
6 lots of Starhub at 1.895
26 lots of GRP at 0.20

The total cost here is about $70k and the expected average monthly dividends is about $470.

Investment Basket -- Mainly because I like the business or for growth
5 lots of Breadtalk at 0.37
2 lots of Capitaland at 1.64 (averaged down by selling 1 lot at $3.50 before)

Trading Basket -- Hoping to sell off
30 lots of Hor Kew at 0.125
20 lots of LC Dev at 0.21
2 lots of Cosco at 2.67
60 lots of Berlian Laju at 0.117
20 lots of China Sky at 0.245
2 lots of Singtel at 2.98


With the rally, I could look to escaping some of the badly positioned trading stocks...

Singtel TA -- almost ripe for the rebound?

Technical factors supporting:
Near 50MA and 200 MA ($3)
Near support.
Back-testing previous downtrend's resistance line...
Low %R
Low CCI, although it could get lower


Technical factors not supporting:
MACD has crossed over to negative
Stochastics still pointing downwards.


Singtel is flirting with the 50% retracement line between 2007 to 2009. Since STI is near the 61.8% level, we could see Singtel retesting the 61.8% level (touched earlier) at around $3.34...

Let's see how... I might load in another 2 lots of Singtel, depending on the price action tomorrow...

Reasons for current portfolio

The most important thing about trading and investments is the reason why you are willing to part with your monies...

This post is to serve as a reminder to me on my wrong buys, bad buys, as well as proper buys, that's currently on my portfolio... A separate post will be used for completed sells....

My personal short write ups:

Stock: SPH (average $3.65)
Reason for purchase:
Dividends counter. Defensive stock in a defensive business. Positive expansion into magazines and property arena.

STI Updates -- The shadow of Rising Wedge

The rising wedge is still broadening, hoping to be a rising channel instead by reaching the light blue dotted line:

The key question remains if STI will break the 61.8% retracement level. I will have to observe how it behaves these few days, especially with CCI so high and %R starting to dip. But one thing is for sure; if my wave counts are correct, the end of this rally is near, within a month or two. A big correction will come and wipe out most of the recent gains, and that's where people will start to believe that double dip will indeed come again, or that STI will go lower than March lows.

With this count, it appears that it is almost time to offload some of my holdings. Breadtalk reached a new high of 75 cents, higher than it's 2007 peak, whereas Hor Kew has recovered to 1 cent below my purchase price. I had originally wanted to sell Breadtalk at 0.73 and Hor Kew at 0.115, resulting in a net gain of $1k+, but my indecisiveness has made me lose the opportunity my badly positioned Hor Kew.

The bear market of 2009 has also aroused my interest to a few more stocks worth investing for the longer term, both for their dividends and growth. I'm hoping that my wave counts are pointing me to the correct direction; a very big correction is imminent. It will be in this big correction where I will load the some valuable companies for longer term dividends and growth.

Dividends Reinvestment Strategy Calculations

Some quick gross calculations by playing with Microsoft Excel in calculations. The table below assumes that I can save $35k this year and put it into interest generating equities of average 7.5% p.a. Then I reinvest every single dollar of the dividends back to the market every year, coupled with an increase of $1k savings per year. {I start with $70k in dividends basket}

STI Updates -- Broadening rising wedge?

Unless STI rush to 2970 by this week, the rising wedge (which is broadening) still stays. My funds are sidelined... Not rushing to add any new positions while I leave the money to grow interest in the money market fund...

The only thing that puzzles me is that Singtel actually looks quite bullish on chart... Being a major component of STI, it might mean that STI could have much further upside... Shall see how...

STI Updates

It looks possible that STI could be in a rising wedge:

However, it is still possible for the rising wedge to be broadened. For this rising pattern to be broken to become a parallel channel upwards, STI would need to reach the light blue dotted line, which to me looks like a monumental task for STI because of psychological resistance 2900 and 61.8% Fibonacci resistance level at 2970.

The music could stop any time... Clearly, a time to be prudent and not fall into traps... I have 9k sidelined ready to move in for value any time... But I can't find any undervalued stocks that are at a good entry point at the moment. Starhill is gone, Starhub is gone. Singtel has run up. Breadtalk has over-extended itself.

I'm starting to consider if I should realised the profit from Breadtalk. Shall see how it goes. I'm waiting for the 4th wave to be more clearly defined before finally selling some at the final wave....

Could I be wrong?

STI Updates -- Still rallying?

Another bull run by STI has thrown out some more possible counts. At the moment, I'm still undecided between the 1-2-3-4-5 count of A of Pri B, or the A-B-C-X-A-B-C count of Pri B. In any case, I believed the recent change in sentiments for this bigger wave started on 29th October 2009. The chart below is my updated count:

The year-end rally feels like a 3rd wave of some sort. Indeed, as counted, this is the 3rd wave. I'm glad to have positioned myself with Singtel as it is a major component of the index... Currently, I'm sitting on a little profit after having taken the dividends.

Wave i: 2605.1 ~ 2803.85 (198.75)

Wave iii is expected to have started on 30th Nov 2009 at 2729.43. If we allow wave iii to be 1.618 of wave i, then we would reach 3051!

However, significant resistance stands at the 61.8% retracement level of around 2968, so I'm unsure if this supposed wave iii would go higher. It looks quite unlikely at the moment, but we shall see.

A look at other technical indicators... CCI is at a high, MFI is at a high, %R is at very high levels... STI is indeed very overbought, probably for the year end window dressing... In addition, the rate of increase of STI seems to have slowed down a lot.... It's gradient is not as steep as the early stages in March...

I'm expecting a correction very soon... Be it a wave iv, or whatever, all indicators are pointing to a correction, probably in a week or so...... Buy on dips apply only when there's value...

There's still the possibility that my counts are wrong and a recount is required...