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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures
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To: Patrick Slevin who wrote (11207)5/4/2006 10:29:19 PM
From: bearshark  Read Replies (2) of 12411
 
I recall speaking with you on some threads years ago. Aren't you an Elliott Wave trader?

I have read Elliot but I do not use his work. Maybe you remember David Plonk.

The rationale for that thread was to complete my conversion from day trading to position trading. I see now that a trending market is better for me than zipping in and out all day.

I think we are moving in different directions to some extent.

I acquired long-term positions in 2002/2003 and dumped them at the end of 2005 and the beginning of this year. I did this based on my projected tops for the INDU, S&P, and Nasdaq back then. They were 11,200 for the INDU, 1,250 for the S&P, and 2,300 for the Nasdaq. Now, I am a short-term trader--anywhere from a few hours to a few days or a few weeks. I have a list of about 40 stocks I watch and am willing to trade.

You caught excellent trends with the commodities. I remember you posting a chart on gold around the end of last year. It showed gold forming the right side of a rounding bottom and then going nearly vertical--beautiful chart. I remember thinking a minor correction and then another rocket ride. It seems you caught the second stage of the rocket ride on your thread.

Do you think the recent move in silver was caused to some extent by the formation of the ETF?

but I can have a life away from the keyboard.

Time away from the keyboard is very important. Even when a trend ends one can pick the opportunities one wants to play. They are always there. If one misses one, another will soon arrive.
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