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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: AllansAlias who wrote (147874)	8/13/2007 12:05:26 AM
From: Shack	Respond to of 209892

doesn't it directly relate to the timeframe we wish to be on the right side of? You are correct. But I have to be on the right side of a multi-week trend because I play options. So while the overriding "theme" of my trades are the primary trend, and yes in that sense it is indeed more than academic, I simply can't get caught in a correction. June 2004 for instance I saw a C down emerging on the $XMI so I bailed on all calls and bought puts. The index dropped 8% and then I returned to my theme. Let me ask you this: Let's say we (very hypothetically) are going to correct 62% of the June 2006 wave on the NYA, then we are talking about down over the next several weeks then up again....should I be playing calls or puts? As it stands right now I have no clue what we are correcting, but there are enough signs and charts indicating multi-year corrective up patterns are complete and this could get serious. I've changed themes...I'll worry about the Grand Count later even though I am working on it.

To: AllansAlias who wrote (147874)	8/13/2007 6:50:52 PM
From: Shack	Read Replies (2) \| Respond to of 209892

To all wavers...Do you think this is a compelling clue? If the secular bear ain't back in this one what are the alternates? Damn this one is pretty: The SCHW Weekly (apologies its a wee bit blurry on my screen): i208.photobucket.com Its sh*t like this that has me leaning towards a crushing C wave for a great deal of the market.