Monday, May 17, 2010

Possible finish to this wave`~~~~

Hope everyone had a nice wkend and a good start on this Mon. I myself could not make it for the opening bell.. darn.. that would have been a great buying opport. for a short trade... so where are we?  thats the question.. with ending the day on the upside, we could be starting a nice "C" wave retracement for a 2nd wave.  Funny though.. I think that the oil leak may be fixed by morning.. and if it is we could have a big push up from the market.. and oil could take a major bounce... but, it has broken some really major support lines.. its just a thought...OK, so thought #2... what if this move down was just a minuette wave 1 and we already did an A,B, and we are in C of 2.. and we go up a bit in the morning, just in time for Walmart to give some good news but bad #'s for the quarter ahead...hummmm  that could be the straw that breaks this camels back... so, I have not a clue what most of you are in right now.. for I need to even recheck what I have myself in right now... I'm currently in TZA, SDS, QID, but I had sell orders in.. so I could be out of some trades right now.. but if this baby goes up... we know that the Euro.. has got to be in a 3rd wave down.. if it corrects it is in a 4 got it.. and will go up as the dollar goes down.. but we should have one last push down with the euro before it has a larger correction... sooooo.... that means we could be  in a 4 too... see how all of this sometimes sucks... 2's or 4's larger degree's, smaller degrees... hummm I will go see what the big boys of Georgia have online as their call... will update in the comments...later>L
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3 comments:

  1. FlipperMay 17, 2010 at 7:07 PM

    OK, they are calling for the next move to be major..3rd wave..they say that internals showed more stocks where down than up at the end of the day, yet the closing shows an up day.. I thought that was interesting. Ok, they are calling we finished 5 down, and should be starting a 2nd wave up.. that could take a few days..So, we need to look at our fibonacci retracements, and go for the 61.8% area, I expect that's where we are going.. unless walmart helps us out... OK, gotta go later all>L

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  2. rMay 17, 2010 at 9:34 PM

    hey L,

    I got QID, TZA, FAZ, and SDS..

    Looking to add on any bounce from here .. starting at 1144

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  3. AnonymousMay 18, 2010 at 8:39 AM

    R, need to watch the 1150-55 area...we already passed the 50% fib retrace at 1144 this morning on E-mini's so we are heading to the 61.8% retrace right now.. do not do alot of buying till then...OK, good luck..later >L

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