Jerry:
lol... well, I have added a bit to
my small SDS position here but I have rules that I stretch but do not violate
at these points in time. When I see the potential for a large opposite
direction move, I like to only play the direction of the upcoming move with
significant money. It's the same general strategy I used last year from July
to October. I'm still holding my invested longs with net costs around the spx
800 level and have dumped all my swing longs.
That all said, I am
getting the distinct impression here that the wave I see is going to go to a
triple zig. That means that wave A of the triangle is next after this top and
that will probably be the largest move of the series. I suspect it goes to
that 830-60 spx support area somewhere but who knows. Maybe the triangle takes
all January to play out and ends in the cycle low due near the end of the
month?
Roy
--Original Message Text---
From: Jerry
Rubinstein
Date: Wed, 31 Dec 2008 09:31:56 -0800
(PST)
Roy:
I'll see your "small swing short" and raise you 100 short in-the-money OEX calls for Jan. Feb. +
umpteen thousand DXD shares at $53.50 I'm raising table stakes w/ 3
quad-zillion SDS shares at $71.10.
In my book (classic Elliott Wave)
this is the peak of Minute Wave 2 of that Minor Wave (5) final leg of
Intermediate Wave 3. I finally got that strong right shoulder w/ bullish
sentiment at near record levels that I've been waiting for. This should be
another one of those "gimme's". Minute Wave 3 down here we come.....
GO BEARS!
Jerry
P.S.: Don't anybody write me back
today---I'm on my way up to Cedars-Sinai for an M.R.I.
P.P.S.:
A HAPPY, HEALTHY PROSPEROUS NEW YEAR to all T&C
members!
--- On Wed, 12/31/08, Roy A. Fellars
<royf@xxxxxxxxxxxxcom> wrote:
From: Roy A.
Fellars <royf@xxxxxxxxxxxxcom>
Subject: [TimeandCycles] spx
update
To: "timeandCycles@yahoogroups.com"
<timeandCycles@yahoogroups.com>
Date: Wednesday, December
31, 2008, 7:13 AM
OK... put on a small swing short on the 897.71
print... right in the calculated zone
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