300

So, Berk announces he’s leaving and all he gets is 300 good-bye comments? Just kidding… 😉

No worries rats, the battle continues. Frankly, I was not fishing for encouragement at all – I am dead serious about wanting to see more trading related discourse, so let’s get on with it, shall we?

I was planning on doing a quick update today but got bogged down setting up eSignal in preparation for implementing the Zero in NinjaTrader. Cutting through all that data provider red tape and market data confusion took some time. I got a decent deal though and am almost ecstatic about my new tick-by-tick data feed. And how would you feel about 180 days of hourly data? Sure beats the measily 20 in TOS 😉

Anyway, since you’re all dying to know – real quick in telegram style:

• Green Scenario – minor 2 of intermediate (5): probability enhanced: It’s possible that we are tracing out a more complex corrective wave which could get us to 880.
• Green Scenario – minor 3 of intermediate (5): probability greatly diminished: We need to drop almost immediately tomorrow for this one to remain valid.
• Orange Scenario – triangle count – minor E of intermediate (4): Probability has been increased that this one is playing out. Should get us a bit higher than the 2 of (5) scenario – I stick with my 900 – 920 target for the top of E.
• Blue Scenario – large flat count – minor C of intermediate (4): Similar to the orange scenario – probability increased today. Target still 1020 – 1040.

Three of out four (probable) scenarios now project us moving to the upside unless we make a u-turn right away. I actually hope we are going to see 920 minimum – would be a wonderful opportunity to keep adding to my June puts. So, we took a bit of a hit today – that happens – nobody could have foreseen this whipsaw move. We legged back into our hedge and are now able to sit back, relax and watch the market do its bear rally thing. We’ll strike when the stars are aligned just right – you’ll know when we get close.

That’s it – I’m turning into a pumpkin in 15 minutes. See you on the other side – I better see fantastic good long trade candidates when I get up tomorrow. Charts please!! Technical analysis please! Maybe even a wave count? Boy, that would be something.

Give it all you got, rats – because tomorrow WE DINE IN HELL!!!