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ShepWave.. Adjusting stop in today's trade entry for QQQQ... Locking In profits
by ShepWave.com
Posted: 10/17/2006 15:41 EST

Yesterday's position was closed out this afternoon with a $.57 profit. We entered a new position as notified earlier this afternoon.

I have published this afternoon's update to show the adjusted stop to this afternoon's position... We have adjusted stop to the entry price.. this will avoid any loss. Position is up $.15 as of now. ($ .72 profit in one day) Potential profit of $.60-$.80 (for afternoon entry ) in next day or two in this trade if we are NOT stopped. More aggressive traders can adjust STOP to give a bit more flexibility.

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

I have published the regular scheduled update for Thursday morning early. Today's action could be more revealing than I originally expected. In tonight's update I show the trade from this afternoon. We will FLIP the trade if the stop is hit. The stop is currently set at our entry price..so no loss.. but the trading costs do add up so I will try to avoid this as much as possible. Working to lock in profits as often as possible for these short term trades. I show key areas that could signal a mid term trend change in tonight's update.

Very Important update today. Mid to long term trend traders may have a trade confirmation signal coming up very shortly.

click here to read today's ShepWave Update.

Also.. Click the image below to join CLUB EWI.. It is Free and provides a lot of interesting articles and trading techniques. Also.. I believe EWI has a FREE WEEK coming up in November. As I am notified I will let everyone know for sure.

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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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86....17.....23

166...18....10

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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