Tuesday, May 25, 2010

Another VIEW = WAVE equality

Chart from Columbia- thanks Binve

Heres another VIEW OF THIS CURRENT LEG

Look at wave 1 and its relationship to wave 3, then wave 5

wave 1 was DOW 60 pts
wave 3 was down 95pts OR 60 x 1.618 = 97 pts

THUS wave 5 of THIS LEG should = 60 pts down from 1090 = 1030

got to 1044 so far at open

Jay
at

10 comments:

  1. Reza4:17 PM

    looks gap down

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  2. Reza5:35 PM

    Looks like they want to touch 1100 also

    ReplyDelete
  3. stalion6:50 PM

    Hey Reza,

    I am looking to jump in VXX. I still think it may come down a bit more. Thoughts?

    p.s. long FAZ. Most in CASH

    ReplyDelete
  4. Reza7:08 PM

    I think tomorrow morning or afternoon short, then cover Thursday. If Friday market goes up, then short Friday close. If Friday is up, then market is bearish.

    ReplyDelete
  5. Reza7:08 PM

    I am waiting for DRV to get cheaper

    ReplyDelete
  6. Reza7:09 PM

    Original formula was go short when VIX is 33

    ReplyDelete
  7. Reza7:31 PM

    QQQQ, short at 46.3

    ReplyDelete
  8. AS10:46 PM

    Jay - any initial EKG for tomm ?

    ReplyDelete
  9. RickyBobby8:35 AM

    Bottom is in. No way it's going to make a lower low in early June.

    I'm making big money now with longs eatablished last week.

    I just added more on Tuesday's little swoon dive.

    If you get too fine trying to predict the ultimate bottom withhout watching the indicators you'll end up missing the bottom altogether and making tons of money.

    ReplyDelete
  10. RickyBobby8:35 AM

    Btw

    Gold longs look fantastic!

    AGAIN

    ReplyDelete