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Strategies & Market Trends : CFZ E-Wiggle Workspace -- Ignore unavailable to you. Want to Upgrade?

To: kckip who wrote (39980)	10/13/2023 8:13:28 PM
From: skinowski	1 Recommendation Recommended By kckip Respond to of 41471

Yes — if my hypothesis is correct, and if Mr Market decides to play it according to the book. Personally, I’m choosing to be opportunistic. The pattern since the impulse top on Feb 10 is convincingly corrective. If I see SPX breaking above 4386, I’ll look to add to the longs. Maybe even with a few percent leverage… unless I get cold feet due to the international situation… in which case I’ll probably choose calls rather than futures or leveraged ETF’s… g/ng

To: kckip who wrote (39980)	10/16/2023 4:00:15 PM
From: skinowski	1 Recommendation Recommended By kckip Read Replies (1) \| Respond to of 41471

So, it didn’t make another swing to new lows. C’est la vie. But, it looks like it’s trying to run. If you look at the SPX, the Y is actually a pretty neat wedge - even though it seems to be made up of 5-wavers. SPX moving above 4386 should mean that the correction is over. I think we spoke about limiting risk due to a tense political situation. My thinking was to sell some shares - and replace them with call options. I actually did it. Used slightly ITM and some ATM calls, December and January. I don’t expect this correction of the first leg out of the low to go on for much longer.