Jay,
I think today was likely the final spike up. I unloaded all longs today and went short the oex and S&P. I believe we've got some nasty down coming between here and Friday, down to at least 1115 by expiration. So the bets are placed... Now Lord, please let it rain.
Hope you're doing well. I'm doing much better now that i got my long-term wave count cleaned up. Something i should have done months ago, but my prior had been working so well, i didn't feel the need to reevaluate it. Cognitive Dissonance drove me to spend 10 hours on it a couple weekends ago, and with the new rule set from EWT, i gutted it and went back through the past 16 years with a fine tooth comb. i am now totally comfortable with the entire read, as expressed in that week ago post to Carl H.
The reversal pattern from today seems to give a longer term projection down to the 1008 area, so I believe that area could prove to be the area that comes into play on this shot down. I've got us just starting the C wave down now that will bookend the A wave from 7/20-9/11. Since A was roughly 50 days, I expect C to be nearly the same in duration. This will match up nicely with the Bradley indicator, which makes a significant turn up on Jan.11th.
Good luck with your plays. Dec. & Jan. puts look golden from here IMO.
Regards,
David
P.S. Got any good individual stock short recommendations, or will you just be playing the indices? |
