ShepWave Pre-Market / Intra Day Update Published. Indexes in Rally Mode for mid term Trade? Stock Market Technical Analysis. Elliott Wave Theory. Some nice profit taking today.
by ShepWave.com
Posted: 7/11/2008 01:00 EST
Some Profit Taking Today at ShepWave Friday.
ShepWave took Profit of $.30 or 31% in the Options Trade entered last Wednesday Remember this was a double position .. so nice trade.
Took $.40/share or 21.6% in our Options Play entered Tuesday..
Took $.57/share or 34.9% profit in a diferent Option Play.
Took profit of $1.14/share in QQQQ trade.
Took $2.87/share profit in our QID Trade.
BUT, go to http://www.shepwave.com/ to see what we are leaving open and what we are possibly looking to enter. Remember the playing field has possibly changed. BE careful trading off the VIX (volatility index).
I thought it was humorous that Citigroup (C) announced today NOT to worry about the current Fannie Mae/Freddy Mac situation. Here is a Banking Institution whose stock value has plummeted from $50-$15 in less than a year givng advice. Which raises the question whether or not investors can believe anything they hear on Television?
Some very important ShepWave Updates will be published this weekend. Recent updates show key targets and Trade Trigger points. One technical aspect which cannot be ignored as a possibility of occuring is an Exhaustion Gap.
Go to www.shepwave.com for today's Intra Day Update and the Details of our trades. Details of ShepWave trades can also be found in the 'Shep's Trading Log'.
10:06 AM
This morning's Intra Day Notes have been added to today's update.
Profit Taking Targets could be hit today.
Go to http://www.shepwave.com/ for today's Intra Day ShepWave Update.
Is the DOW Industrials index setting up for a quick 700+ point move? See key recent short term trend lines that coud serve as resistance points. Is it safe to hold Long Side Positions open over night yet?
Will the QQQQ break $50 again any time soon.. OR in our lifetime?
ShepWave has shown some more key Fibonacci Retracement/ Extension targets based on the recent action in our recent updates.
Even with Thursday's rally the VIX (Volatility Index) cloesd UP .36 points... Read recent ShepWave Updates covering the action of the VIX and how the 'rules' may have changed. Be careful using the VIX 'alone' in making trading decisions.
Go to www.shepwave.com for the Pre-Market / Intra Day ShepWave Update for Friday.
U.S. MARKETS
Finally, June's over
Mixed session ends worst June since Great Depression, with Dow eking out a small gain. S&P 500 ends on upbeat note, but Nasdaq loses 1%.
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For trading strategies, Trade Signals, Triggers, Targets, Charting and Elliott Wave Theory Analysis go to http://www.shepwave.com/
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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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