Ewj: elliott wave

[mu200411]

Long position stop out.

Today first trading day for 2008 could be both Bear Trap or Bull Trap. The upside and downside potential are great.

 

[mu200411]

Fifth wave is longer than first and third wave now. Should enter some long position here.

 

[mu200411]

Long position entered. Set stop at the last low. Set target for 100, 10, 20 points.

 

[mu200411]

position reversed after 100, 14, 30 points rebound when there was a lower low. Position reversed again at "W" pattern confirmation.

This may be the end of 4)c.c or 4)d.b or the beginning of 4)c.3

Note:
Fed infused USD. USD became cheap relative to gold, oil, JPY, EUR, Bonds.

 

[mu200411]

Position reversed at 100, 10 points rebound and there was a lower low. Prepare to reverse position again if "W" pattern is confirmed.

 

[mu200411]

"W" pattern confirmed for the Dow, not S&P and NASDAQ.

 

[mu200411]

Position reversed. Set stop at the last low. Set target at 13300, 1475, 2660.

 

[mu200411]

Enter long "Long position" here. Consider long "Short position" too.

 

[mu200411]

Status:
Hold long position and short position.

 

[mu200411]

Long position closed. Open short "Short position".