In his latest post on Forbes, John Navin has drawn attention to Xerox Corp, (NYSE: XRX). I tend to agree with John even from an ELliott Wave perspective. Xerox Corp stock has completed a five wave rally from its March 2009 low of $4.12 and that move has been adquately corrected by the dip to $6.55 last October. Yesterday’s sharp rally higher by some 4% is likely the beginning of something interesting and traders who can afford a stop at $8 can consider going long on any minor dip.
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Why is wave #1 at approx 9.30 and not approx. 9.90.
That would make wave #3 at approx 11.20 not approx 10.80. etc.
Hi Bilk, sure there are different ways of counting any move. We will know which is correct only later. Just remain faithful to any one count till it is proved wrong and over time you will make money