Ewj: elliott wave

Long position stop out.

Today first trading day for 2008 could be both Bear Trap or Bull Trap. The upside and downside potential are great.

 

Fifth wave is longer than first and third wave now. Should enter some long position here.

 

Long position entered. Set stop at the last low. Set target for 100, 10, 20 points.

 

position reversed after 100, 14, 30 points rebound when there was a lower low. Position reversed again at "W" pattern confirmation.

This may be the end of 4)c.c or 4)d.b or the beginning of 4)c.3

Note:
Fed infused USD. USD became cheap relative to gold, oil, JPY, EUR, Bonds.

 

Position reversed at 100, 10 points rebound and there was a lower low. Prepare to reverse position again if "W" pattern is confirmed.

 

"W" pattern confirmed for the Dow, not S&P and NASDAQ.

 

Position reversed. Set stop at the last low. Set target at 13300, 1475, 2660.

 

Enter long "Long position" here. Consider long "Short position" too.

 

Status:
Hold long position and short position.

 

Long position closed. Open short "Short position".