ShepWave
ShepWave.. Regular Report published. Average of $.90 Profit for QQQQ last week.
by ShepWave.com
Posted: 11/5/2006 14:06 EST
I have published tonight's update to show that we are planning on entering a short term (possibly mid term entry as discussed in recent updates) Monday Morning. We are using the trend from the Lows of last July to recent highs to base this trade.. We show, using shorter time frames, potential optimal entry areas. Let's see if we can't pocket another $BUCK this week in a short term trade.
This could be a critical week. I give exact entry price and stop area for our strategy this up coming week.. which 'could' include going long. We will see. Again,, price will dictate our moves. Today's analysis can be used as a proxy for trading the other indexes or individual stocks.
Also, I give follow up analysis in tonight's update for those who flipped the trade Friday.
Click the image below to join CLUB EWI.. it is FREE.
I have published the regular report for Monday to show the potential Elliott Wave Theory counts for the short term and possibly how they have tipped their hands for the mid to longer term trend for the INDEXES.. Last week was a good week for short term trades. We locked in $1.00 on 1/2 of our trade for the QQQQ and $.80 on the remaining 1/2 of the trade.. That gives us an average of $.90 for the week. Only one trade but it was good one. It seems to be working well giving a 'recipe' type analysis for short term traders with exact entry.. stop.. and exit areas. We have made several points over the past few weeks.. My goal is to get the short term traders in to trades which profit at least $2.00-$4.00 (QQQQ) a month.. We have been keeping in that range. A lot depends on the charts of course.. but this should be pretty easy to do.
I had a new subscriber email me last week... We had shorted the QQQQ at $42.62.. .. our original stop was set above the entry.. then as the Q's moved down we gradually began moving our stop down.. it went to $42.40... the new subscriber emailed me to ask why the stop was placed below the entry... Keep in mind we will tighten stops to LOCK IN PROFITS at every opportunity. This technique enabled us to stay open for any additional profits and guarantee a profit at the same time. We are now flat for the short term positions in the QQQQ. I will publish an update similar to the ones I have been publishing creating a 'map' or 'recipe' type of analysis to follow for short term trades. Keep in mind that the longer term trend may be showing us some signals as well.
Click here for today's ShepWave Update.
Click the image below to join CLUB EWI.. It is FREE.
Click the links below to Join Club EWI.. It is FREE and they have some great articles concerning technical analysis, economics, trends, etc.
AND I think they have a FREE TRIAL coming up in November. If you haven't read the article on Diagonal Triangles shown below.. click the link below.. Very applicable technical analysis for current short and long term trend.
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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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