Waves, Patterns & Projections (2004)

I must go and see a doctor......seem to be writing to myself again !

Had to wait a while for some weakness on APPL but out now. Decided to add to CSCO and DIS with a XOM Long on the basis that any further significant strength in FTSE will probably require the participation of Oil stocks so a bit of a hedge........XOM itself peaked in Q3 @ 6596c but has touched 5450c (20/10) in the current quarter (the day before BP. touched 599p) and then rallied to 6038c (06/12) for 10.8% (the day before BP. got back to 667p). Today's drop back to the earlier 5665c could be about right for the base of a second recovery wave but I'll be happier to potentially double up @ c5300c which will probably mean that BP. has slipped to c585p with a commensurate drop in the FTSE.