ShepWave Pre-market / Intra Day Update for Wednesday Published. Profits and more Profits.
by ShepWave.com
Posted: 3/11/2009 01:12 EST
12:49; Wednesday Afternoon: see today's Intra Day ShepWave Update for Short Term REVERSAL Triggers.
I'd have to say that was an impresive rally. We actually saw BUY SIGNALS based on the 60 minute time frame. But, I am personally not convinced that we have seen a key mid term bottom. The verdict could be that Tuesday's rally was a one day massive short covering move in the markets. But, it does give us an idea of what to expect when we do get a mid term rally. It should be violent and strong and possibly only last a few weeks.
Read closely tonight's ShepWave Update. Shown are key triggers that 'could' support that we are now on our way to the key mid term bounce targets we have been showing in recent updates. But, please stay Objective and Disciplined. Don't let the emotion of one day's action get the best of your ability to trade objectively.
ShepWave has been locking in Mid Term (Swing) Trade Profits for the past couple of weeks now. Here is a listing of our profit taking since February 23.:
| March 10, 2009 I have covered my SHORT QQQQ Position at a price of $27.00 giving a $3.20/share profit. Sold my QID position at a price of $63.00/share giving a $.80/share profit. Sold the rest of my SRS position at a price of $80.00 giving a profit of $20.00/share. |
| March 8, 2009 Sold the rest of our TWM Position today at a price of $114/share giving us a $47 Profit or 70% profit. Sold SRS Position today for a price of $109/share, giving us a profit of $49/share OR 81% Profit. |
| March 2, 2009 SOLD JUNE 29 Strike PUTS Today at a price of $3.70/share giving us a profit of $.80/share OR 27.5% profit. |
| February 23, 2009 SOLD the SDS position at a price of $97.25 giving us a profit of $12.50/share or 14.5% profit. SOLD 1/2 of the SRS position at a price of $82.26 giving us a profit of $22.26/share or 37.1%. SOLD 1/2 of the TWM position at a price of $90.94 giving us a profit of $23/share or 35.7% profit. |
Go to www.shepwave.com and Log In for Wednesday's Pre-Market/ Intra Day ShepWave Update.
Click here to read the ShepWave Update from August 21, 2008 when the Dow was at the 11,400 area.
If you haven't seen the bit on CNBC shown on the Comedy Show Click the following link: Click Here for Daily Show This has to be one of the funniest (and true) things I have watched in a long time.
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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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