Took 33% profits this morning and opened new position this afternoon.
by ShepWave.com
Posted: 8/3/2011 22:10 EST
NEW POSITION ENTERED
is new position is a bit aggressive, so be careful. But it could be a quick DOUBLE in the next few days, ideally. Note targets. Do not forget the analysis in the Regular Scheduled Update from this morning. The trend is firming up. But markets don't go straight up or straight down. I know today it seems like they go straight down.
Markets are heating up providing many good trading opportunities.
Log In at www.shepwave.com for Today's Intra Day ShepWave Update and Trade Details.
1:30 IMPORTANT INTRA DAY UPDATE
Nice move today. Swing traders who took the SELL SIGNAL should use stops to lock in profits. Pluls do not get greedy, that usually does not work out well.
Note the preferred Elliott Wave Theory Wave counts for the recent action. Some important notes have been put in the VIX chart. Also, TARGETS are shown.
Time wise, a potential buying oportunity may not be far off. Cautious traders will want to wait for TRIGGER.
Log In at www.shepwave.com for today's Intra Day ShepWave Update. CLICK the links below for ARCHIVED ShepWave Updates.
Keep checking ShepWave Updates today for continuous notes on today's action.
Note that we are seing confirming signals even today. Perhaps the two most important technical factors are the VIX and CRUDE OIL.
Every day I hear CNBC PUNDITS saying "it is time to buy." Please be careful trying to catch this falling knife. If you have been following along with ShepWave mid term Triggers and Signals, then you should be well in the profit range. Just use stops to lock in profits.
Log In at www.shepwave.com for today's Intra Day ShepWave Update.
11:02 IMPORTANT INTRA DAY NOTES:
Profits and More Profits. Just as good traders do.
This whole move was seen as a potential several weeks when ShepWave identified the Triple All Time Top in the Dow Transportations index and the index failed to break through resistance.
Note new notes in the SPY and DOW charts. See targets shown in this morning's Regular Scheduled ShepWave Update.
New frresh recent lows being hit today.
Note the targets as given in the Daily charts in this morning Regular Scheduled Update.
IMPORTANT: Read closely the notes regarding the action in the VIX. This could be indicating a quick 10% or greater move.
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Check the site through out for continuous market analysis.
ShepWave has taken some Profits in an options play, 33% profits taken this morning.
The market action remains to be very critical. Watch the triggers and targets.
Log In at www.shepwave.com for Today's Intra Day ShepWave Update and Trade Details.
Important Pre-Market Notes
Notes concerning trading this Gap Down open are included in this morning's Pre-Market Update.
IMPORTANT: ShepWave will be closing out an Options Trade at the OPEN this morning. Looking for at least a 40-60% profit.
Log In at http://www.shepwave.com/ for today's Pre-market ShepWave Update.
Market is heating up. ALL ShepWave Specials and Free Trials will end soon.
The ShepWave Eight Year Anniversary Subscription Specials ($60 Three Month Subscription and $99 Six Month Subscription) will be ending soon. We will begin a referral program for subscribers. For every new subscriber you introduce to ShepWave we will add one month on to your subscription. Note that once the big move comes in the indexes this special will be terminated, if not sooner.
Also keep in mind that eventually access to the Intra Day Continuous Updates will be an additional charge for those who are not current subscribers to ShepWave. Rates will not be raised for current subscribers at the time we start this new subscription package.
| 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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