ShepWave Profit Taking This Morning. Is a mid term bottom in?
by ShepWave.com
Posted: 11/17/2008 11:32 EST
Exited our DEC QQQQ Options play entered late last week for 27% Profits.
Exited some of our JAN QQQQ Options play 94% Profit.
Have we hit a key mid term bottom? Where is the bottom? For analysis and strategies on trading, and profiting in this market go to ShepWave.com
For this morning 's notes and exact trade details go to www.shepwave.com
It is well known that the best time to 'buy' stock is when there is 'blood in the Streets'. Is there enough blood in the streets now? Television Financial Pundits are beginning to get frustrated; well they should, they only missed the best profit making opportunity possibly of a life time over the past year. Is this an indication that the Bottom is Close?
Actually one really can't call them 'Financial Pundits'; they are News Reporters 'posiing' as 'pundits' for most cases and do nothing but try to figure out what we can do to prop the market. This in itself if arrogance. The key to being a profitable trader is to figure out the direction and targets of the market and 'take' our piece of pie.
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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