Friday, August 28, 2009

I'm on High Alert for Wave 3 to Start any Time Now; August 28, 2009

With the straight line up in this rally, the government including Bernanke taking credit for the recovery, optimistic levels at extremes higher than the 2007 top, breadth contracting significantly in the past couple weeks, light volume at the second half of the rally, the wave count can count complete, and the S&P and Dow are at their previous 4th wave levels, it's time to get serious about looking for wave 3 down to begin.

It should start very soon and I'm on high alert for it. I just went fully short this morning with long dated 2011 put options on the IWM, SPY, QQQQ, SLV and XLF.

BE READY! This decline will be for the record/history books and should take at least 60% off the major indices bringing the S&P to at least the 400s area by the end of 2010!

2 comments:

Gustavo said...

Beautiful!!!!!!!
I wish to you the best how your advice is very friendly!!
Always what you want write to me for any reason, please make this to gazo11@mail2world.com.
Yours.
Thanks.

Todd S said...

Thanks and I wish you the best with your trades as well.

Todd

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