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ShepWave

ShepWave Special update. Short term direction for stocks.
by ShepWave.com
Posted: 10/16/2006 18:33 EST

I have published a special update tonight to show the short term potential direction. This is options expiration week.. sooo... some volatility is to be expected. The short term trade entered this morning is up $.07.... we adjusted the stop this afternoon. If you were stopped out.. you 'can' reenter and adjust stop. Please use your own risk tolerance as a guide as well as the stop we show. I am looking to enter two short term trades this week. Maybe even three. The charts in today's update show some key levels to watch for in the short term.

Click here for today's special ShepWave update

I have published Monday's regular scheduled update to show the mid to longer term trends and possible targets for a continued BULLISH Market. I will do an update by Monday Morning with short term trading opportunities. Last week we had 3 out of 4 profitable trading opportunities.. only one loss and that was a $.08 loss in the QQQQ. I will try to do more of these types of trades. (I feel I have to do something to try to make up for being wrong in the recent rally.) Keep in mind... the markets are overbought. Markets can stay overbought for an extended period. Once the confirmed break is in a quick drop 'could' occur.

Has the M-3 (money supply) been supporting the recent bull run? Will the markets stay propped until the November Elections? Those are two questions I have been receiving in e-mail:.. and are very good questions.. or theories.. Unfortunately.. it is very difficult to see when the money supply will stop supporting the markets.

Click here for today's ShepWave Update.

	Learn to Trade The Most Dynamic Wave Pattern A Q&A with Trading Expert Jeffrey Kennedy After Futures Junctures Editor Jeffrey Kennedy released How To Trade Diagonal Triangles, Futures Focus sat down with him for a four-part Q&A series about his favorite Elliott wave pattern. And to our surprise, Jeffrey picked off and served up some of his most valuable tips for trading the diagonal triangle. This report has the scoop.
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Added trade around 11:30

We have entered a short term position in the QQQQ this morning. To see actual price and stop/loss read most recent update. Scroll to the bottom to see I added the chart and text showing price and stop.

Go to http://www.shepwave.com/ for today's trade.

Browse through our BLOG for recent trade data.

Click here to see some of ShepWave's recent Trades. Making money on Short and LONG sides of the markets.

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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83....17.....1

117...17....3

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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