Cycles are a tool and should not be used to the exclusion of other tools. There is always the possibility (high probability long term) that the data will be misinterpreted or a relevant fact over looked. So use cycles to check your analysis, not as the only reason to make a decision. Interpretation is the opinion of the author and may be incorrect and should be viewed in that light.
Friday, January 7, 2011
01-07 LSE and ANAD update
Today CCI gave a buy signal on LSE. But, it seems to be a weak signal. So hold off taking action until you get a cycle bottom or envelope channel confirmation. Target buy area $5.55-5.60. Here is the chart:
ANAD looks good to hold as 3 cycles are up next week. The 22td cycle may top by end of the week, so that should be first point to consider selling. But, 2 other cycles will remain up. Hold with trailing stop loss orders while waiting for signals or until 34td cycle tops the following week..
Here is the chart: