ShepWave Pre-Market / Intra Day Update for Tuesday Published. Potential New Trend Channel forming!
by ShepWave.com
Posted: 2/23/2009 23:23 EST
Sure is nice locking in some double digit profits in some key core positions while it seems everyone else is trying to figure out what will save our economy. As objective Traders/Investors we are only responsible for ourselves and our money: regardless of the state of our economy. Stay focused on the Objective, Disdiplined Trading Methods. I can't urge strong enough to not get caught up in the emotion of the Television Pundits. They missed the TOP and will continue to miss the market.
There will definitely be some nice Bear Market Rallies to catch...but stay objective and keep the targets and the short term wave action always in mind.
Tonight's Update shows some potential further confirmation trigger points and some possible interesting new trend channel developments....strict perameters are shown for this new potential channel.
Go to www.shepwave.com for the Pre-Market / Intra Day ShepWave Update for Tuesday.
Remember there will always be 'buying' opportunities; but the trick is knowing when to SELL. The days of 'Buy and Hold' may be gone for some time.
2008 was the 'year of confusion'. 2009 could be the 'year of suffering' for the undisciplined, unobjective investor/trader. Remember, we can't 'fix' the current economic problem. While the 'Financial Pundits' are all trying to figure out how to fix the problem our objective is to find the trading range, up or down, and profit from it; taking our piece of the pie. We as traders/investors can't change the economic situation in this country but there is absolutely no reason not to profit from any market move.
Click here to read the ShepWave Update from August 21 when the Dow was at the 11,400 area.
Stock Market Technical Analysis. Elliott Wave Theory
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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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