I am starting a new thread for the 3th week of May. The following lists my positions as of Friday (yesterday):
Long Term - Big troop dolloar amount allocation: TLT 50% cash 50%
Medium Term - Small troop stock holding: EDZ, FAZ
If you have any question on short term trading or FX/Futures trading, please PM.
My Trade for last week
As I discussed last Friday that the market could gap down this Monday (today), it does happen now.
ReplyDelete" ... a possible wave count is in the abc wave 2 bounce from Wednesday's low. If this is the case, after this wave 2, next monday could be a big gap down."
http://perfectew.blogspot.com/2012/05/ew-market-talk-on-elitetrader.html
Bot TZA just now with the fund in my small troop.
ReplyDeleteHere is my portfolio as of today's close:
ReplyDeleteLong Term - Big troop dolloar amount allocation: TLT 50% cash 50%
Medium Term - Small troop stock holding: EDZ, FAZ, TZA
The market closed near day low today. It's a very weak sign. If the current preferred wave count is correct, the wave-2 correction ended last Friday (we talked about this last week). Then if the wave fractal reproduces itself of the wave-1, we are seeing the wave-3 underway. The price action this afternoon seemed to be a 3._3.__3 scenario. With that scenario, the market could open with a big gap down tomorrow.
Here is my portfolio as of today's close:
ReplyDeleteLong Term - Big troop dolloar amount allocation: TLT 50% cash 50% (no change)
Medium Term - Small troop stock holding: EDZ, FAZ, TZA (no change)
The market closed near day low again today. Again it's a very weak sign, especially the market tried to climb up in the morning. The bounce in the moring provided the bear more engergy like a hammer to punch the market to lower price.
If the current preferred wave count is correct, we are in 3._._3 wave now. If the wave fractal reproduces itself of the wave-1, we are seeing the wave-3 underway. With that scenario, the market could open with a big gap down tomorrow.
Here is my portfolio as of today's close:
ReplyDeleteLong Term - Big troop dolloar amount allocation: TLT 50% cash 50% (no change)
Medium Term - Small troop stock holding: EDZ, FAZ, TZA (no change)
The market closed near day low again today. This is a very bearish price action where the market sucked and trapped more bulls in the moring before the decisive moving down in the afternoon. If the current preferred wave count is correct, we are in 3._3._3 wave underway. If the wave fractal reproduces itself of the wave-1, we will be seeing a big gap down and with a killing collapse very soon. Remember that this bear run is far from over! DO NOT buy any dips!
Here is my portfolio as of today's close:
ReplyDeleteLong Term - Big troop dolloar amount allocation: TLT 50% cash 50% (no change)
Medium Term - Small troop stock holding: EDZ, FAZ, TZA (no change)
The market closed near day low again today - a very bearish price action where the market sucked and trapped more bulls (again) in the moring before the decisive moving down in the afternoon. If the current preferred wave count is correct, a 3._3.__3 wave is underway. We will see a big gap down and with a killing collapse very soon. Remember that this bear run is far from over! DO NOT buy into any dip!
Here is my portfolio as of today's close:
ReplyDeleteLong Term - Big troop dolloar amount allocation: TLT 50% cash 50% (no change)
Medium Term - Small troop stock holding: EDZ, FAZ, TZA (no change)
The market closed near day low again today, with same trick as what it did everyday in last few days, the market sucked and trapped more bulls (again) in the morning before moving down in the afternoon. The weekly chart closed as a long solid black candle bar - very bearish in long term view.
If the current preferred wave count is correct, a 3._3.__3 wave is underway. We will see a big gap down and with a killing collapse very soon (next Monday?). Remember that this bear run is far from over! DO NOT buy into any dip!
We have had a great week. Hopefully you have also made some good profit by following my posts. I'll start a new thread next week. Have a good weekend!