I am starting a new thread for the 4th week of May. The following lists my positions as of last Friday:
Long Term - Big troop dolloar amount allocation: TLT 50% cash 50% (no change)
Medium Term - Small troop stock holding: EDZ, FAZ, TZA (no change)
If you have any question on short term trading or FX/Futures trading, please PM.
My Trade for last week
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)
After 6 black bars in a row last week, the market closed near day high today, showing a reversal outside bar. The thing that should worry bulls is the low volume of today's bar, for it is not significant enough to qualify today as a reversal day. Therefore, the scenario should stay the same as we told our audience via the wave count two weeks ago - the purple line scenario is still the preferred count. With that scenario, tomorrow morning should be the opportunity for you to unload your trapped shares (if there is any).
If the current preferred wave count is correct, we are in 3._4 corrective wave. This bear run is far from over! DO NOT buy into any dip!
No medium or long term trade today. The following explains 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 moved as expected today. Our audience got plenty of time to unload and go short in the morning. The market panicked down in the afternoon and set new day low. If the current preferred wave count is correct, wave 3._4 has ended today, which means that the rest of the week could have bloody slaughtering collapse. Again, this bear run is far from over! DO NOT buy into any dip!
No medium or long term trade today. The following explains 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 dipped down to 1296 (remember 1293 last week?) in the morming and surged up back to prior close in the afternoon. The price action told us two things: 1. 132x is resistance area, and 2. 129x is support area. Therefore, the market could form a flat consolidation in between those two areas. The consolidation could be diagonal triangle, and the end of the consolidation will be either the end of this week or the beginning of next week. If this is the scenario, the end of the consolidation should mark the end of wave-4, which means a wave-5 next week is still possible. (A long solid red surge will void this asssumption.) Again, this bear run is far from over! DO NOT buy into any dip!
No medium or long term trade today. The following explains 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 gapped up a little bit and closed near the opening price. It is a pin inside the week-long consolidation area (132x - 129x). The consolidation will end tomorrow (Friday) with either an upside breakout of the resistance or a failure of breaking out (which will signal next week's falling down below the support area). Since we are on the short side, once the resistance is penetrated, take profit and go to vacation for the short term short positions. Medium and long term positions won't be affected by any breakout.
The preferred wave count marks this consolidation as wave-4, and a wave-5 next week is still possible. (This scenario will be voided if a long solid red surge occurs.) The bear run is far from over! DO NOT buy any dip!
No medium or long term trade today. The following explains 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 up thrust in futures market overnight penetrated Tuesday's high, and hence my short term short position on index futures got kicked out with big win. The high in regular hours did not even touch Tuesday high. I did not enter a new short position on futures because of the coming long weekend. I'll continue shorting this market next week.
The market has moved in a way that is identical to our prediction since 2 weeks ago (see the purple line wave count). With that said, there is no reason for us to change our preferred scenario at this moment. The downward wave has newly started today. Next week could be a killing bloody week for a wave-5. (This scenario will be voided if a long solid red surge occurs.) The bear run is far from over! DO NOT buy any dip!
I DON'T KNOW HOW MANY PEOPLE ARE FOLLOWING MY TRADE. PLEASE JOIN MY BLOG AS A FOLLOWER, SO I KNOW THAT YOU ARE READING MY TRADE AND I WOULD BE MORE MOTIVATED TO WRITE. THANKS!