ShepWave Final Notes on Thursday's Trading Action Published. 156 % Profits taken Thursday in QQQQ Options Play.
by ShepWave.com
Posted: 11/13/2008 16:21 EST
That was an impressive intra day upward reversal. But, keep the critical trend lines we have been using for the mid to longer term rally always in mind. The QQQQ made a 10% intra day move. That in itself is impressive. So, now what? Dow 20,000? How about 10,000? Markets still lower than the 'Election Rally'. Are we just correcting the downward move from Election Day Highs?
Read the final notes in today's ShepWave Update for some confirming triggers and targets.
We managed to lock in another 156 % Profits in a QQQQ Options Play entered last week. Nice day... just keep locking in profits is the key.
Go to www.shepwave.com for today's Update.
Click the Links below for a Sampling of ShepWave Updates Published over that past year for Mid to Long Term Traders.
Click here to read the ShepWave Update from August 21 when the Dow was at the 11,400 area.
Cllick the link above for an interesting article. So, if retail returns to the 70's will the Stock market? Most financial pundits missed the 40+% stock market move of the past year. They continually say that the market always goes up. ShepWave suggests extreme caution. We have shown some very critical technical 'facts' which have occured recently which could dictate future market action. Don't miss one of the biggest trading/investing(??) opportunities of a life time.
| MARK HULBERT Panic doesn't mean we've hit the bottom |
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Absence of the psychological characteristics of capitulation means we likely haven't seen the low yet. |
ShepWave Note: No Kidding. I always like to read what these 'financial analysts' (and I use the term loosely) were saying when the markets were at their highs. (LOL)
• 18th bank fails: Houston's Franklin Bank (who's next?)
• Jobless rate jumps to 14-year high of 6.5%
For trading strategies, Trade Signals, Triggers, Targets, Charting and Elliott Wave Theory Analysis go to http://www.shepwave.com/
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| Reference: Shepwave.com is a technical analysis site for the Major U.S. stock indexes. We use Elliott Wave theory along with our proprietary indicators to give analysis for the Dow Industrials, Nadaq 100 and S&P 500 indexes. We specialize in trading the QQQ and DIA. |
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