Ewj: elliott wave

[mu200411]

Time to open long positions again.

 

[elovemer]

.....well... that's 261% extension on daily.... should be end of 5 .... if 5 will be the end .....
....unless what looks like 5 is actually 3...

Quote from elovemer:
...5 in the works ?
Quote from elovemer:
...1...2.... so far....
Quote from elovemer:
...looks like another 5 waves down .... after the 3 waves up ... on the daily ....
.... is still possible......

 

[mu200411]

Bullish Scenario 1.
Another 100, 10, 20 points drop, the rebound to all time high.
Strategy 1.
Find a good place to buy a lot of call.

 

[mu200411]

Bearish Scenario 2.
A 200, 20, 40 points drop, follow by a rebound to all time high.
Strategy 2.
Find a good place to open long position.

 

[mu200411]

Still No Action, Talk Only.
"They want less talk and more action."
http://money.cnn.com/2008/01/17/news/economy/fed_bernanke/index.htm

Status.
Did as said yesterday morning.
Short positions closed at close.
Scenario.
The Market may rebound at open or after a 100 - 200, 10 - 20, 20 - 40 points drop from Landis' call at 1324. Then rebound 800, 80, 160 points or to new all time high.
Strategy.
Enter long positions when there is higher high.

Quote from mu200411:01-16-08 09:26 PM
Cash versus Square Position:
Up or Down 400, 40, 80 points in one or two days.
Hold Cash:
Open position as futures point to at open. Market up/down 250,25,50 points then down/up 100, 10, 20. Reverse position twice then take profit at another 250, 25, 50 points rebound/tank.

 

[elovemer]

possible dealio

 

[elovemer]

possible 2nd dealio

 

[Landis82]

1324 was key support, but I did have 1315 SPX as an extreme.

Let's see how she closes.

 

[mu200411]

Friday Low=12022.7305, 1312.51, 2323.29
Measured Move 1
4)c.5:2=13614.5303, 1498.85, 2727.55
4)c.5:3=12431.5303, 1378.7, 2407.3899
4)c.5:4=12931.29, 1429.09, 2503.55
4)c.5:5=11748.29, 1308.94, 2183.3899
Measured Move 2
4)c.b=14198.8301, 1576.09, 2861.51
4)c.3=12707.2598, 1406.1, 2539.81
4)c.4=13850.9199, 1523.5699, 2734.05
4)c.5=12359.3496, 1353.5799, 2412.35
Measured Move 3
3)=14121.04, 1555.9, 2724.74
4)a=12455.9199, 1370.6, 2386.6899
4)b=13614.5303, 1498.85, 2727.55
4)c=11949.4102, 1313.55, 2389.4999
Bullish Scenario 1.
January Low = 11949, 1308, 2183. The Market rebound 800, 80, 160 points.
Strategy 1.
Open some long position on Monday when there is a higher high.

 

[mu200411]

Bearish Scenario 2.
People don't buy into the rumor of rate cut.
The Market falls some more then rebounds 800, 80, 160.
Strategy 2.
Open some long position when there is a higher high.