C (Citigroup) short position to be closed

Trading strategy We sold C on open on 5-Dec-2005 at 48.57. The stock closed at 48.50 last Friday. Perhaps this position is an uncomfortable one and I am not sure that one should stick to it. If our preferred count is correct, then the price is already in the high probability zone for the wave 4 and it is even possible that the low on Dec 8 was the end of the wave 4 since then the price should rise in the impulsive wave. On the other hand if our outlook is not correct, it is still very likely that the price will rise in the next few days, will test the resistance at 50 and swing low to 45 or below. In either case closing this position will be a wise option. Of course there is a chance that the price will continue to decrease according to a completely different scenario, however there is no rationale to build a trading plan based on a lucky chance since it will be gambling rather than trading. 1. Close the short position at the market open on Dec-12.