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Strategies & Market Trends : Waiting for the big Kahuna
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To: Dave Gore who wrote (16614)4/16/1998 3:02:00 AM
From: RWS  Read Replies (1) of 94695
 
I use EW, but not exclusively. Here's my recent results.

4/6/98 10:15 am buy April 1100 puts @ 5.38
4/7/98 2:00 pm sell April 1100 puts @ 9.50
4/7/98 3:40 pm buy April 1100 calls @19.50
4/8/98 9:40 am sell April 1100 calls @20.25
4/8/98 9:40 am buy April 1100 puts @ 9.25
4/8/98 2:00 pm sell April 1100 puts @ 10.75
4/9/98 at open buy April 1100 calls @ 16.00
4/9/98 11:30 am sell April 1100 calls @ 18.00
4/9/98 12:00 pm buy April 1100 puts @ 6.25
4/13/98 12:00 pm sell April 1100 puts@ 9.25
4/13/98 3:20 pm buy April 1100 puts @ 6.00
4/13/98 3:51 pm buy April 1100 puts @ 5.00
4/14/98 3:50 pm sell April 1100 puts @ 2.00

I'm now in cash, and more cash than I had on April 6th. So I guess as someone who uses EW I don't have any problem admitting I'm wrong sometimes.

I haven't completed my take on the action tomorrow. It's too early. But I'm leaning toward choppy action up to 1125-1130 to end this corrective upwave and then a large five wave correction starting tomorrow afternoon or Friday that takes the SPX down about 50 points over next week or so. Alternately the correction begins at the open.

Good luck and I hope you continue to have a lot of laughs at others expense.

RWS
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