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ShepWave

QQQQ STOPPED OUT with $.28 gain. ShepWave has reentered a QQQQ Position today.
by ShepWave.com
Posted: 10/19/2006 11:20 EST

As mentioned in updates concerning yesterday's entry... We were stopped out with a $.28 gain in QQQQ

We have entered same side position today. See today's UPDATE for exact price.

go to http://www.shepwave.com/ for today's QQQQ entry.

Took $.28 profit this morning. Current position is up about $.20.

I have written this mid day update to show the short term trends which are forming. We will use these trends to guide our short term trading. (to adjust stops .. take profits, enter new short term positions etc.) The short term trading seems to be working well. (some nice profits over the past few weeks)

The only reason I am hesitant to commit to doing short term trading is: 1. I don't want to create 'addictive' traders. When you are feeling emotional about your trading.. it is time to go hit a bucket of balls and re-group. 2. I don't sit behind my computer all day every day.. and I am NOT going to start doing that. But,, at certain times in the markets when the mid to longer term trends have altered the preferred analysis the best way to make profits IS by trading short term positions. One Important NOTE: I will probably NOT put the short term trades in Shep's Trading Log. It is much simpler to just put them in an update format with charts and analysis etc.

Click here to read this afternoon's ShepWave Update. (scroll to bottom of this morning's update for charts and short term analysis).

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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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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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