Status. Both "Long positions" closed at fifth subwave of fifth wave of wave 3, because sometimes wave 5 does not appear as expected. Short "Long position" re-entered at -110, -14, -27 when there was a higher high. Now hold short "Long position". Strategy. Hold if the Market goes up, reverse if the Market goes down. Plan to open long "Short position" if something terrible happens.
The Market may go up another 350, 40, 70 points to 13000, 1420, 2400 with or wihout a dip of -100, -10, -20 points first.
Market dips -100, -10, -20 points as expected by measured move. But there is an "M" pattern. Who dare to enter a short "Long position" now? :eek: I do. Just a gambling. But wait for a higher high, buy signal, and plan to set a tight stop.
I was looking to yet another "re-test" of yesterday's highs today in the SPX ( 1388 ) but it was not to be. Under 1362 in the SPX becomes a HUGE problem, likely leading to a re-test of 1270. Very tricky here.
Another good entry point is coming at the completion of the "M" pattern near -250, -25, -50 points from yesterday high.
Buy if inverted "head and shoulders" or "double bottoms" pattern was confirm. Then look for signal from trendline break.
Status. Long position closed and long "Short position" opened at open as said. Entered short "Long position" at -150, -15, -30 then reversed at the completion of a-b-c near +70, +7, +14 and reversed again at -100, -10, -20 and again near +100, +10, +20, another a-b-c, and again at -70, -7, -14 to square the long "Short position". Strategy. Turn the short "Long position" into a long one if there is sign of interest rate cut in EU and GB. Close it if something more terrible happens.
Oil gets $103 fever in Asia. If EU hikes rate, EUR/USD will be 1.7 in June 2008. http://money.cnn.com/2008/02/28/markets/bc.oilprices_late.ap/index.htm Posted by mu200411 on 10-28-07 12:37 PM: And in June 2008 the Market would be around (1.4391=13806.7,1535.28,2804.19,91.86) 1.7=16309.77,1813.61,3312.57 and crude at 108.51. by simple math. This would be the Best Case Scenario. Posted by mu200411 on 10-29-07 08:41 PM: Crude Oil Wave Count. Interesting Crude Oil Wave Count. Crude Oil may be in Cycle Wave V)III and ending at $108, but the wave can be extended and Crude Oil goes to $200. Why this time is different? At the peak of Cycle Wave V)I China was an exporter of crude oil to some friendly country and OPEC could but would not increase crude oil production. This time China is a big importer of crude oil and OPEC would like to increase crude oil production but could not. Posted by mu200411 on 11-23-07 08:52 AM: EUR/USD=1.4917, to be 1.5 soon, because another .25 or .50 rate cut is expected. .25+.25 = .50 so 1.5. Santa Claus's "Crude oil at $108 in early 2008" is comin' to town.