Panic abated somewhat, still chance for another selloff around elections this week, expect explosion after, or just straight into next leg up.
Tentatively looks like we might have an Elliott wave 1 past week, with a 2 on Friday, might sell a bit more Mon/Tues; if it plays out, then 3 will be magnificent.
Bull isn't done running yet, but 2019 will likely bring him down. Expect triple top formation before the real break. Sell in May and go away...
Just an idea, not investment advice. Trade at your own risk- GL!
Trade active
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Weeks pass in hours, months take only days now... retraced so fast... wave 4 already?
Well Done,
And a distinct possibility,,
.
Please Stay with this idea , and update it continually
if the pattern should happen to follow your analysis
Sometimes you come up with the most brilliant stuff, ..but then as quickly as you do that, you abandon the idea, and move on.
Staying power , not deviating wins out, in the long run in the market.
Thank you.
THE_UNWIND
DaddySawbucks
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@The_Unwind, Thanks for kind comment. Yes i been whipsawed more than once and missed most the the October short because of it. Still lernin 2 trade... will see.
I reckon whoever wins on Tuesday will result in relief rally Wednesday, lol. Who knows?! I called the correction darn good but it snuck up on me and didn't realize we're in it 'til it was over, lol.
So tired of guessing direction I finally just bot AAPL as a covered write. Buy UDOW on selloff if we get another downdraft. Still could happen. Good luck!
I currently own SDOW.
In this kind of market break from the All time High, one should always have insurance.
I mean you could even own 1 share....
but own it... in just in case, the ship starts going down again.
DaddySawbucks
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@The_Unwind, Good plan. I keep one put contract LEAP in account, a Dec or Jan series and holding two calls now. Been selling call spreads and covered calls. I wrote an Iron Condor Monday about half an hour before the 900 pt break- BAD PLAN! DOH! I covered that one and ate the loss, the puts ran up so fast the gains on the short calls couldn't keep up. Never, ever, Never sell a naked index put! GL!
Well Done,
And a distinct possibility,,
.
Please Stay with this idea , and update it continually
if the pattern should happen to follow your analysis
Sometimes you come up with the most brilliant stuff, ..but then as quickly as you do that, you abandon the idea, and move on.
Staying power , not deviating wins out, in the long run in the market.
Thank you.
THE_UNWIND