SOLF: Parabolic Rally...Parabolic Return

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I posted the first chart on January 7 when SOLF broke down from a Bearish Rising Wedge after after a 300% parabolic rally in just over one month's time. Parabolic rallies often result in a Parabolic Return to the origin of the rally as SOLF did, seen in the second chart. After the Parabolic Return, SOLF put in an Ascending Triangle. More often than not, those are bullish, but there's no "always" in the stock market. This one was a bearish continuation pattern that resolved to the downside.

Based on the current BID...ASK, the November, 2007 gap target of 11.98 will get MADE at the open. SOLF now is down 70% from its January 3, 2008 high. The Ascending Triangle target of 10.99 still is IN PLAY, but "take at least 'some' profits when targets get MADE (11.98)."

GLD - On Approach To 96.19 Target

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GLD had a Breakaway Gap out of Symmetrical Triangle on February 19 putting a target of 96.19 IN PLAY. At 96.00 going into the close, I like to take the money. Close enough.

AAPL - Bullish Falling Wedge Breakout

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Breakway Gap this morning out of a Bullish Falling Wedge. The first target is 130.80 - 131.00, the last highs at #3 at the top of the wedge. That just got MADE. "Take at least 'some' profits when targets get MADE." Next target IN PLAY is 140.70, the top of the wedge.

RIMM - Post Breakout High

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RIMM had a Breakaway Gap out of the Channel (in black) on good news. It successfully retested the top of the channel and today it has moved to a post-breakout high in the $112s (not shown in the chart).

SMSI: Symmetrical Triangle Target

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The Symmetrical Triangle target of 5.79 from the October 12, 2007 Symmetrical Triangle breakdown got MADE yesterday. The Descending Triangle target of 5.09 still is IN PLAY.