Thursday, December 18, 2008

New Elliott Wave count on SPX and wrap up the open trades

I closed, CLF, EME, JEC, VMC, DRYS today

Leaving open are SMG, EBS and CBST.

Looks like the announcement from China that they are going to lower Gas and Diesel prices affected the crude oil and material prices all at once. Dollar when up a little on the news too.

Lesson learned on this week, winning is hard, losing is easy in the market. There are so many nuances, any trader can over look one and lost his pants.

See my count for the SPX, I think we are on the W-4 corrective now and it was confirmed with my buddy's more sensitive charts, which it is in a-b-c corrective mode now.

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shorts:
longs:

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