Thursday, July 19, 2012

Bullish Wave 3?

The market continued the rally today and it got closer to my 1388-1392 target, which could be reached tomorrow if the current Wave 3 continues. But the real question is whether this is the first leg of an intermediate Bullish Wave 3, the daily chart shows a bullish nested set up and unless a lower low is made on the next bearish wave, we will see a new high for the year as soon as August. Also, some of you might have noticed but I stopped posting my trades as it is too time consuming and has no real reward for doing this. However, what I'll do from now on is post my core positions so you'll see where I am at with my trades.

Long Term Portfolio: 100% Long
Short Term Trading Strategy: Shorting intraday extremes, closing same day

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