Crystal.Balls
Short

5 Waves Completed On APC Stock

NYSE:APC   ANADARKO PETE CORP
11 0 0
APC             has rallied along with oil             this year and has completed a bullish leading diagonal . It will be interesting to see how the correlation holds up with oil             over the couple of weeks as I have order to go long oil             if it trades higher. APC             should have at least a two legged correction and retrace at least a third of the diagonal. Support seems to be at the 50% retracement level, so this is a reasonable target area. Short with a sell stop below last week's low and set the stop loss above last week's high.
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