Waiting for the big Kahuna Message Board

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Strategies & Market Trends : Waiting for the big Kahuna

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To: jjs_ynot who wrote (15716)	4/8/1998 7:56:00 AM
From: Bull RidaH	Read Replies (2) of 94695

Dave & Russell, You're both on the right track. The c of 4 wave up that I was expecting to be fulfilled in the first hour of trading now appears to have been satisfied in the overnight session I'd like to see the futures break below 1116.7 to confirm this, though. If confirmation is given, then we'd be moving lower in the 5th wave down of Large Wave 1. My idea of the optimum time to buy puts, which i believe is the point Russell was making, is to wait for the completion of Large Wave 2 up, which should take no more than half a day to complete. This would place the optimal put buying window on an early afternoon rally. Exactly where we'll be on the S&P at the end of the wave 2 rally depends largely on how low minor 5 of 1 takes us down. I'll update later. Good Trading, David

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