Today I put in a market order for SKF 1265 shares. Clearly, I should have bought yesterday, but the correction was shorter than I thought (one more bullish day on the DOW and I would have been convinced the correction was over). However, the fifth wave down is still not over and SKF should run to 130. I will probably put in an order to sell if it goes to 130.
Update (1/22/08)
The market order entered here purchased the shares for 114 each. Most likely this was a 2nd wave within the 5th which allowed me to enter at a better bargain that I thought. However, in the future I should try to entered earlier at the correct price points indicated by the wave principle (i.e. around 110).
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