Comments on: Wave Tock ~ Thursday 2/4/10 http://www.focalequity.com/2010/02/04/wave-tock-thursday-2410/?utm_source=rss&utm_medium=rss&utm_campaign=wave-tock-thursday-2410 Tue, 24 Jan 2012 18:53:55 +0000 hourly 1 http://wordpress.org/?v=3.1.2 By: lotsacandy http://www.focalequity.com/2010/02/04/wave-tock-thursday-2410/comment-page-1/#comment-103501 lotsacandy Fri, 05 Feb 2010 13:27:02 +0000 http://www.stocktock.com/?p=19839#comment-103501 Hi Craig, Your work has been excellent. I think your wave 2(green)minute is actually wave (1V) pink, the retracement is to the previous wave 4 territory. Hence why yesterday's drop was so strong cause it was wave 3 of 5 for minute wave 1. I think you actually said it when you said just keep holding puts, cause the market will keep rolling down. So there is more downside, and possible capitulation before wave 1 minute is done. Cheers Lotsacandy Hi Craig,
Your work has been excellent.
I think your wave 2(green)minute is actually wave (1V) pink,
the retracement is to the previous wave 4 territory.
Hence why yesterday’s drop was so strong cause it was wave 3 of 5 for
minute wave 1.
I think you actually said it when you said just keep holding puts,
cause the market will keep rolling down.
So there is more downside, and possible capitulation before wave 1 minute is done.
Cheers Lotsacandy

]]> By: Chacro (MZZ) http://www.focalequity.com/2010/02/04/wave-tock-thursday-2410/comment-page-1/#comment-103483 Chacro (MZZ) Fri, 05 Feb 2010 01:14:37 +0000 http://www.stocktock.com/?p=19839#comment-103483 Indeed it looks like a wave iii. We also broke and closed below some major support on my SPY chart. What makes sense here is follow through for several days. I am still not sure if we finished minute wave i. The only reason is it seems we haven't had a really good wave ii to shake out the weak hands. If that was the best minute wave ii could give us then this is going to be a hell of a crash and burn. It doesn't matter, as a position trader I am still short and holding. Counting the waves is a lot more fun when you are making a profit. Indeed it looks like a wave iii. We also broke and closed below some major support on my SPY chart. What makes sense here is follow through for several days. I am still not sure if we finished minute wave i. The only reason is it seems we haven’t had a really good wave ii to shake out the weak hands. If that was the best minute wave ii could give us then this is going to be a hell of a crash and burn.

It doesn’t matter, as a position trader I am still short and holding. Counting the waves is a lot more fun when you are making a profit.

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