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CURRENT MARKET TREND: Up 5/27/16 @ 2090
Stop-loss 2026

Monday, May 30, 2011

May 28th, What Really Matters

This past weekend the love of my fiance and my life passed away at 16 months of age. Within that time I have learned more from a dog than I could've in a lifetime listening to teachers, preachers, bloggers, etc. Sometimes in life I was more focused on the market than either my fiance or my puppins, so I would like to take this time you remind you of what is really important in life. I love playing the market, but personal relationships are WAY more important than money gained or lost. My pupppins actually stepped on my keyboard one time and entered a trade. She lost $300. She never did pay me back.  On this Memorial Weekend I think it's important for everyone to reflect on their lives and the people and animals who influenced it. I know my puppy made me a better man than I ever was, and that's important for me to remember.

As of the market I really don't care right now. I was looking for a correction to 1308/10 and the 1311 low should've satisfied that. I'm still looking for 1390 or higher.

Take care everyone and remember that making money is probably the least important aspect of life. People or animals don't love for money, they love for you, in your entirety!

Tuesday, May 17, 2011

Termination of Wave 2 before Wave 3 up

I had to slightly alter my count based on the price action recently. The move up to 1370 seems to only have completed wave 1 up of the ending diagonal, with wave 3 up to 1390 to follow. After the I'll be looking for completion above 1400. Here's is my updated daily chart of the SP-500:

This move down has been impulsive: An impulse A wave consisting of 5 waves, a 3 wave B wave back to test 1360, and now we're in the final impulse wave down, the C wave which will finish red wave ii down on the daily chart. Now let's zoom in to a 10m chart to view how this wave ii down has unfolded and how I plan on trading it.

So far I'm counting this as an impulse A wave and we're in the final impulse C wave. This can also count as a completed WXY down where Y=X today to complete wave ii. That is why I bought June  IWM and SPY calls today. Going with the impulse count looks to me like we put in 4 of iii with a 5 of iii down to the 1308/10 area to complete iii of C. After that we'll probably get another bounce up to the 1325/28 area before the completion of the C wave. I will be adding to my call collection at 1310 and finally around 1295.

Until next time,



Wednesday, May 11, 2011

Whipsaw Nation & Trendline Support

This will be the first post of many which lead into you my swing trading intellect. I have been watching the hourly and shorter term charts whipsaw for a few days now. My previous call at 1350 was for a top to 1370 then a pullback. That happened nearly perfectly with the market topping at 1370 and change. The pullback I expected was to 1240/42, so I established long positions at that level. When the market dropped further I didn't fret, I added more long positions after I looked at my original anlaysis and deemed it correct. I sold out out of this position on Tuesday and have been in cash. (Tuesday 1358).

Some would say I missed this drop. I disagree. Per the stock market all gains made on the short side should be considered a bonus in my opinion. Also, I knew the drop was coming since I sold my long position. YOU DON'T HAVE TO PLAY EVERY SWING TO MAKE MONEY!!! You want to be on the longer term side of the swing!!

I believe these tops & drops are part of a consolidation pattern and I don't think we'll see new lows under 1329.

My next projection target comes around 1389.60 as long as 1329 holds. I am flat position wise and really don't plan on playing anything until my upside projection targets are met, or something on the short side triggers my interest. If anything happens you'll be the first to know!

POSITIONS: FLAT...NO LONGS EVER, maybe short under 1329.

Until next time,