ShepWave Critical Updates for Thursday Published.
by ShepWave.com
Posted: 7/9/2009 00:39 EST

End of Day Notes Posted.

Log In at www.shepwave.com for the End of Day notes from today's trading. 

Will today's rally continue..?  The Dow rallied 5 points.... (yes, sarcasm)  

I am concentrating on the possible EWT short term wave patterns, this is very important for short term traders to identify trading 'set ups' and for Mid to Longer term traders who are constantly looking for confirmation signals of the mid to longer term rally.

New Positions entered today.... These are QQQQ related trades. 

I am doing a bit of a basic Elliott Wave Theory refresher in this Update.  Due to some newer subscribers I felt this was needed.  I am not trying to bore those who have been with me over the years...but a good review of some of the EWT basics is good for all of us. 

Please, I encourage everyone to subscribe to another EWT service in addition to ShepWave.  It is always good to see the different views; although ideally the views 'should' be the same.  I highly reccommend signing up for CLUB EWI.  Elliott Wave International is a very respected company.  CLUB EWI  has a FREE Registration and includes many free helpful tools, including an extensive Elliott Wave Theory Tutorial. There are over 125,000 members to CLUB EWI.

Here is the Link for CLUB EWI:

The Pre-Market Update for Thursday shows some of the short term wave formations and why I showed the potential BUY SIGNAL mid day on Wednesday.

Log In at www.shepwave.com for Thursday's Critical ShepWave Updates.

Click Here to take advantage of Six Year Anniversary ShepWave Special Rate. $99 for Six Month Subscription. This offer will expire without notice. 

Click Here to View the ShepWave Published Report from October 11,2007.  When the Dow Industrials Index was still over 14,000.

Click here to read the ShepWave Update from May 26, 2008 The Last week the Dow Industrials Index saw 13,000.

Click here to read the ShepWave Update from August 21, 2008 when the Dow was at the 11,400 area.

Leavitt Brothers sent me an email concerning the Dykstra Bankruptcy.  It is a sad thing to see this happen.  The Leavitt Brothers email brings up the fact that Cramer has gone on record to say that Dykstra is a great stock picker.  Just another reminder to be careful...and do 'our own stock picking'. 

Here is the email from Leavitt Brothers pasted below.  They too, have a free service which can be informative.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Leavitt Brothers Lenny Dykstra Files for Bankruptcy July 9, 2009 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Dear ChartSpeak Sub... Lenny Dykstra just filed for bankruptcy. He claims $50,000 in assets and liabilities somewhere between $10 million and $50 million. By itself I could care less about this, but the funny and ironic part of the story is Jim Cramer has gone on the record to say Dykstra is one of the best stock pickers in the world, one of the 4 or 5 people he trusts. What a joke! Here's Cramer... Cramer praises Dykstra Jason Leavitt Leavitt Brothers, LLC   email: chartspeak@leavittbrothers.com website: http://www.leavittbrothers.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.