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ShepWave

ShepWave Update Published. Rally Over? See Targets for U.S. Indexes in Tonight's Update.
by ShepWave.com
Posted: 9/5/2006 02:29 EST

I have published this second update for the weekend to show the longer term preferred Elliott Wave Theory counts and what ShepWave expects in the next few weeks to months. Looking out at almost 2:00 Eastern time I see a beautiful "almost" Full Moon. Is this Full Moon indicating a change in trend? That often happens you know. There are traders that simply trade off the moon. Headlines at this time are: "Asia Stocks move Lower" and the U.S. Futures are actually up (S&P up over 2 Points). We got the expected 'throw over' on the Dow last week. This wasn't expected a few weeks ago, however, when we Bought our PUTS (QQQQ).. So we are sweating a the SEPT EXPIRATION QQQQ. Please, Trade within your own risks. As I have tried to express time and time again. When trading options.. expect to be "WRONG". ShepWave recommends trading only 3-5% of one's trading account in any one Options Position. ShepWave entered an Options trade in the QQQQ two weeks ago to help "protect' the current position that is expiring on September 15th. ShepWave has taken many profits over the past several months.... Several Options trades that had a net profit of over 100%.. the problem is that I am continually gaining new subscribers and don't always know whether or not the 'older' ones have profited as ShepWave. So,, I always try to assume that everyone is brand new and is looking to always make a profitable trade. This week coming up is critical.. Take profits in the SEPT GOOG trade.. We are up enough to cover the initial cost and the transactions. Our analysis 'should' prove to be correct .. but the intermediate wave 2 has lasted a bit longer than we expected.. Flip the GOOG contracts to a later expration. We will be looking to FLIP the QQQQ Options for September also.. We need a big move quick to really pull this off well. The December Contracts 'should' make back the money from the SEPT contracts (if need be) and a profit.

ShepWave has taken profits several times this year in our "CORE" positions in the QQQQ and DIA.. Current positions should be NO EXCEPTION.

Click here to read tonight's Special ShepWave Update.

God Bless You ALL.

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When the Dow Industrials Index recently hit a multi-year high in May the Financial Television Channels were pumping the rally. Flashing a ticker showing how many points to a new all time high. Who did this help? Click here to see one of many updates published that week showing our analysis and how we were positioning ourselves to PROFIT from the upcoming turn. Are these Financial Information channels helping the average investor or perpetuating denial as to the mid and longer term direction of the U.S. Markets? Click here to read our update from May 13, 2006. TARGETS HIT.

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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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