Sunday, November 20, 2005

Alcoa Elliott Wave Update

Trading strategy 1. Use an oscillator signal to enter long when the price drops below 25.7 (preferably 25). 2. Before entering long, update the forecast to check if the outlook has not changed. The pattern of AA stock price unfolds within our previous scenario and there are no strong reasons so far to change the scenario. We will continue to seek an opportunity to enter long at approximately 25 when the current corrective move will be accomplished. However we may update trading strategy should the price close above 27 during the next week.

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