R.D.,
On the close yesterday, I classified the smaller degree wave we were in as subwave 3 of big wave 5. Actually, it was subwave3 of wave 1 of big wave 5. So we finished subwave 3,4&5 in the overnight, completing wave 1 of big wave 5. Then the rally this morning was wave 2 of 5. From this morning's high, we began wave 3 down of 5, and will probably remain in it for the rest of the day. In fact, as we speak, a bull trap has been laid at 1076.50 the futures, and it is a perfect time to add to shorts for anyone not in yet. Oex Puts are probably the best vehicle if you don't want to put alot on the line, otherwise, NYSE futures or the SPY are great vehicles to use for the heavyweights.
Everything still right on track.. No worries!!
Regards,
David |
