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ShepWave Pre-Market/Intra Day Update for Friday Published. Stock Market Technical Analysis. Elliott Wave Theory.
by ShepWave.com
Posted: 11/8/2007 23:30 EST

I have published the Pre-Market notes for the Intra Day Update for Friday. We have seen some nice volatility recently. I expect this to be the case for the next few weeks (if not longer). We have taken some nice profits recently. ShepWave will probably be entering in to some quick OPTIONS Trades over the next few weeks. Stay Alert to these opportunities.

The NDX Futures are up about 8 points at this time. Will the Nasdaq bounce back to make new highs? OR Is this just another good selling opportunity? See Upside Targets in tonight's Update. Also shown are key trigger areas. Read the Notes in tonight's update closely to see our strategy over the next few weeks.

Go to www.shepwave.com for Tonight's Pre-Market Update for Friday.

ShepWave exited one of our Options Plays in the QQQQ Thursday with a 72% profit. This, as stated in our updates, was a very large position. That is one reason I took the profits today.. Also as shown in the Intra Day Updates.. we have hit an initial target.

Please take in to consideration your own trading style and judgement when trading options.. Last week ShepWave closed out the Options Play in BAC (Bank of America) for a 52% profit.. If Left open these contracts could have been closed out at over 200% profit.

Go to http://www.shepwave.com/ for Today's Updates and Trades.

So much for CSCO (Cisco) helping out the BULLS. Click Here for an article published after their earnings release Wednesday.

In the last regular scheduled ShepWave update I showed the similarities of the market action in 1987 to the current wave patterns. Tonight's Regular Scheduled Update for Thursday shows follow up technicals and expected 'bounce' targets. I also show Mid to Long Term Trading Signals and targets. Remember the markets never go straight up or straight down. There will always be BUYING and SELLING opportunities in any longer term trend whether BULLISH or BEARISH.

I have also published a separate Pre-Market Update with short to mid term targets and signals. Keep checking back through out the day on Thursday for Updated Charts with Triggers, Targets and Analysis.

Go to www.shepwave.com for Updates.

In October we saw a lot of articles about the 20th Anniversary of the Market Crash of 1987. This led to a lot of speculation of a potential market crash this year. A lot of fear has been raised by the current Financial Sector weakness which is reminiscent of the Savings and Loan situation of the '80's. The problem is that no one was looking at the wave patterns which led up to the crash. In today's update I show some similarities to today's market action and the action leading up to the crash of 1987. I don't believe ANYONE can 'predict' a market crash. But we are seeing definite evidence that supports caution in the investment markets.

Go to http://www.shepwave.com/ for the Regular Scheduled Update for Monday.

QQQQ Trades Opened including Options Trade, BAC (Bank of America) Options Trade, AAPL (Apple) Options Trade, and Dow Industrials analysis.

Stock Market Technical Analysis. Elliott Wave Theory.

Below is an announcement from Elliott Wave International. Free Video Series. I recommend signing up for the CLUB EWI.. It is FREE and they frequently have very informative articles. Click the links at the bottom of the email.

Good news! The first two parts of Elliott Wave International�s Market Myths Exposed video series are online now, and each turns conventional wisdom about the financial markets on its head, allowing you to think independently of the mainstream and call your own shots regarding portfolio management.

There's already a buzz about this video series among independent-minded investors and traders. Read what a few of them have to say:

"Wow, it is a pleasure to know that there are great minds out there." � P. Rubin
"Thank You, The more I learn, the more I realize how little the knowledge I have that is factual." � L. Paton
"WOW ... I am new to this method of trading, and Steve has given me some insight into how the U.S. market operates." � L. Smith
"It's a real eye-opener for me! Thanks." � A. Kelley
"Optionetic student, you have my attention. I'm looking forward to adding your subscription to my arsenal." � G. Graves
"I really enjoy your honest and straight talk about the markets ... so much "brain-washing" by the media and the market TV programs. Thank you ..." � J. Foreman
"I found this video to be a real eye-opener. Thanks." � M. Clark
"Appreciate seeing the revealing Fed action plotted along with market action." � M. Thompson

Here are some of the eye-opening topics covered:

Why company earnings alone can't drive share prices up or down.
Why Economics 101 does not apply to the financial markets.
What's the deal with real estate?
Does a strong economy lead to strong financial markets?
Is the Federal Reserve manipulating market valuation?
Why do charts of the world�s markets look so correlated?
And, most importantly, where should you put your money?
Plus a whole lot more �

Many people pay hundreds of dollars to attend the conferences at which Steve speaks. But now you can get a front-row seat to Steve�s intimate workshop setting without expensive plane tickets and hotel reservations. All you need is a free Club EWI membership to watch!

Don't be fooled by market myths from the mainstream financial media. Think independently � watch the Market Myths Exposed video series FREE!

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Click Here for an Interesting Article. Is the market going to Crash... will the U.S. see a Recession/Depression?

I have copied and pasted the article below from Market Watch below. Interesting that they would even mention the odds of a market crash.

OCTOBER TRADING STRATEGIES

Could it crash again?

Preserve, protect and profit during the 20th anniversary of the Crash of '87 with our dozen strategies for October � from sector plays, to futures picks, to the views of Cantor Fitzgerald's Marc Pado and Miller Tabak's Peter Boockvar, and more.
� Crash coming? Vote in our reader poll Poll

Click here for an interesting article by MSN Money.

Interesting Article:

GREENSPAN'S outlook
'Pretty gloomy'
"Re-emergence of inflation," rising interest rates are biggest long-term threats to U.S. economy, former Fed chairman tells "60 Minutes."

Purchase a Subscription to Shepwave.com

Starting in August ShepWave began Publishing Intra Day Updates with short term analysis 'mainly' concentrating in the QQQQ but also showing the other indexes and individual Stock analysis. This EXTRA service will have an additional charge to the Regular ShepWave Subscription eventually. Those already Subscribed to ShepWave will be EXEMPT from any additional charge for this service when it is added in the future.

ShepWave provides the Services listed below for Less than $20/Month

Short, Mid and Long term Trading Analysis with Trade Entry Signals, Strategies, and Targets

Regular Scheduled Updates Published by Market open on Monday and Thursday.

Intra Day Updates for QQQQ, DOW,S&P 500 and selected individual stocks most every day.

Our purpose is to not only show potential trade set ups and the management of those trades but to TEACH objective disciplined methods of trading for any time frame.

QQQQ Trend Trading.

QQQQ Options.

Trading Stock Options.

Dow Industrials, S&P 500, Nasdaq Indexes, QQQQ, DIA and Selected Stocks Analysis

Email Notification of reports and trades if desired

Forex Traders click the image below for a 10 day trial. Forex Trading Software. Charting analysis and much more.

Sign up for the Forex Trading Software through ShepWave (click on link above) and receive a FREE MEMBERSHIP to ShepWave. You will have an active subscription to ShepWave for as long as you subscribe to the Forex Charting Software.

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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.