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Since I'm addressing this 4/29-30 cycle turn date, I would also like to offer that 5/12 is a cycle turn date that is expected to be of even greater significance than that of 4/29-30. In just the last 3 years where this particular cycle has been tested, it has produced a significant trend change 3 out of 4 times. Granted, that's only 75%. Did I say "only"? Worth noting.
On a trading note, I've been holding my longs in BP since the run-up day of 4/17. Needless to note, that this trade is yet to be in profit, and today's drop has returned it back into the negative area but manageable. I continue to hold this trade in light of the 4/29-30 bottom expected.
For what's it's worth.
Good trades!
Rick