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bwolinsky - Sorry that you feel that way. Basically, you are looking for a holy grail that can guarantee you the success of trading. I don't want to disappoint you, but at least I haven't found one before I started trading with EW. Talking about backtesting, I remember that I told you that I...

bwolinsky - OK I know that you want to know EW more so much. I don't know a way to convince you that EW is one of the best approaches to use for trading. Do you still keep the link of my blog? Please go there, join the blog, and see my real-time trading for yourself.

ScalperJoe - Thanks for the feedback. It could be heading to 1257 because of current downward momentum. About the question whether 1293 will hold, I would bet that it could be breached tomorrow (Friday) morning right at openning. Why do I make this speculation? Because of today's solid long...

Let me tell you my friends, the most dangerous bear market formation is a long winding slow motion one! The money flows outward from equity (slowly) into some other markets (e.g., bonds). Every time the stock market falls to a support (temporarily), it attracts some little bulls to buy, and...

Here is my portfolio as of today's close: Long Term - Big troop dolloar amount allocation: TLT 50% cash 50% (no change) Medium Term - Small troop stock holding: EDZ, FAZ, TZA (no change) The market closed near day low again today. This is a very bearish price action where the market...

Yes, that is correct! If we count the high of 10/27/2011 as the ending point of wave-[I], the current pull back should not fall below that point. In other words, wave-[IV] and wave-[I] won't overlap.

05/12/2012 Comments are welcome!

bwolinsky - I remember that we have talked about this before. Trading is not a science. Trading with EW is more than an art. If you are trying to find something guaranteed, there is no such thing. I set up a blog last week and started posting my trades for long term timeframe in real time...

ScalperJoe - Currently a possible wave count is in the abc wave 2 bounce from Wednesday's low. If this is the case, after this wave 2, next monday could be a big gap down.

Wide Tailz - Yes, I agree that wave 4 is a critical support. The market looks so far so good. I will still be cautious. My portfolio has loaded tons of TLT, FAZ, and EDZ for my long term trade (published on my blog) and some short positions on GC, SP, EUR for short term.

ammo - I set up my blog last week and posted some possible long term counts in the archive. Some of them are out-dated but still worth taking a look. Note that my wave counts have grey line and purple line so you can see the wave from different perspectives. Thanks.

PerfectEW.blogspot.com I set up the blog last week. I have started posting my real time trades there. Thanks for commmenting!

ScalperJoe - Good point! Yes, the 1340 is the wave-4 (the lower degree wave) where a corrective wave would stop. Thanks for summerizing those two scenarios. Today the market gaps up, we will need to see if the gap can hold or not. If the gap holds and market goes higher, then probably the...

ScalperJoe - Good observation! To answer your question, I woud like to bring up the two scenarios that we might have: 1. If the big wave-[B] was completed on 11/25/2011, then we could have a wave-V to test last month's high. 2. If the big wave-[B] was completed on 12/19/201, then we are in a...

jas_in_hbca - Thanks for sharing! Yes, it looks like a well defined 5-wave down.

:) Thanks for sharing your thought and being a nice audience of my wave threads. I have started a blog as my trade journal to post my real time trades there to share with friends. Welcome to take a look. Thanks!

ScalperJoe - Very good point! That is a very good question indeed! We trade wave, which is following some natual law, so we want to trade something that has good liquidity and good volume. The more people participate the market, the more accurate we can get from counting the wave. It is a...

Wide Tailz - Nice count! Thanks for sharing.

ScalperJoe - Thanks for sharing your thought!

It's good that SP futures pulls up a lot before the market opens. We will need to watch to see if the cash index would fall below the starting point of last up waves - the low of 04/23/2012 in order to decide which count is valid. If 04/23/2012's low is breached, the wave count of...