Tomorrow promises to be another wild and woolly Thursday. The indices are at such a point that the risk/reward ratios for going either long or short don't make sense for position trading. It could be a bonanza for traders who are quick and can get in and out of positions within a short period of time, however.
| Current Holdings | ||||||
|---|---|---|---|---|---|---|
| Ticker | Basis | Closing Price |
Perf. | Sell-Stop | Additional Exit Guideline | Chart |
| GLD | 74.27 | 72.26 | -2.7% | 68.79 | Consider selling on a close < 72.00 | Chart |
My idea for tomorrow is a chart that has held up surprisingly well. Nevertheless, it's not a time to be risking a lot.
| Ticker | Entry | Exit A | Exit C | Chart |
|---|---|---|---|---|
| LNG (Cheniere Energy) | 3.12 | 2.49 | Chart | |
Please refer to "How To Trade The Ideas" (right-hand side) to read this table.
3 comments:
Chrib, could you post a new updated chart of your count and your Mom's count and where you think the index's are heading too and projected possible turn to upside when this wave 3 ends. Thanks.
I'll ask her if she can put one together. I'd be interested to see that, too.
Also, her chart doesn't show us in Wave 3, but rather in the corrective waves (either A or B at this point). Indices heading to 0. If her count is correct, there won't be a return to upside after the corrective waves end (20-100 years from now) because there won't be a stock market. However there will be temporary surges within the correction itself, where temporary could mean quite a long time (months to years).
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