That's correct girl… you're learning fast. The 106's will gain in value faster then the 101's will. As the 106's are now, or soon will be, gaining “Real” value with each point the market falls below 106.
All while the time still decay's on the 101's, and also while they are still “out of the money”. The goal is for the market to close at 101 on expiration. That way you would have to buy them back as they would expire worthless, while the 106's would be worth 5 points.
Of course we should be closing out that position before then, as I'm looking for 102 this week. That's when I'll close out the position, and you should too.
Keep in mind that we could pierce through the 102 level intraday, and then start a 1-2 day bounce back up. I'll be watching the 15 minute chart closely when we are at that time period and price.
I'll post it here when I'm looking to get out, so don't worry, I won't leave you in the dark.
I owe you more than dinner! Up $6700 on the 106s and down $2500 on the 101s. That sound about right to you so far? Just want to make sure I have it right.
You're on lucky girl… you got in a better spot then me. I missed the 60 minute chart on Friday when I talked a about Black Monday, and got in at the wrong time.
You couldn't have picked it any better! Tomorrow we have the Monthly, Weekly, Daily, 60 Minute, and 15 Minute charts all pointing down!
On top of that, we are in a minor wave 3 down, inside a larger/intermediate wave 3 down, inside of Primary wave 3 down! Whew! That's a lot of Wave 3's! I'd be shocked if we don't fall at least 200 points tomorrow.
I'm really expecting more like 400 points, but I don't want to make hard predictions like that… instead I'll stay that we have extremely high odds of falling off a cliff tomorrow.
Exactly! As you can see, that last chart is from Tony's blog. Of course I added my own thoughts, but I read a lot of different bloggers, and try to put all the pieces together.
Each one has their own expertise in TA's, EW's, Support and Resistance levels, etc… I then add what new events that are coming out, and then post the likely outcome.
I was off by today being Black Monday, as I overlooked the 60 minute chart on Friday's post. But, you can clearly see now, that by the end of today… all of the charts will be pointing down!
That's HUGE! And should produce a big sell off. The Monthly, Weekly, Daily, 60 Minute, and 15 Minute charts will all be insync tomorrow. I was early on my entry Friday, as I missed seeing all of these pieces of the puzzle.
Now, they are all lining up! Look out tomorrow, as this elevator is going down fast!
Wow! 33 days after. That's the Masonic #, like 33rd degree. Pope John Paul I was “killed” 33 day after taking office. The significance is the masons signaling that they are in control!
How's that for conspriacy. (I nearly believe it too)
Well, nothing is written in stone of course, as I originally thought that the 60 minute charts would have been rolling over today. That's why I guessed on Friday's post that it could have been a Black Monday.
So, it looks like I'm off a day. Regardless, I'd have too say that a minor wave 3 down, inside a larger wave 3 is going to be pretty powerful. The more wave 3's inside each other, the more powerful the move. Remember, we are also inside Primary Wave 3 (or C) down too!
I'm not an expert at EW, but I believe the wave 3's are commonly a percent of the wave 1's. Look at the last chart above as I show the 1.382%, 1.5%, and 1.618% predictions.
That's correct girl… you're learning fast. The 106's will gain in value faster then the 101's will. As the 106's are now, or soon will be, gaining “Real” value with each point the market falls below 106.
All while the time still decay's on the 101's, and also while they are still “out of the money”. The goal is for the market to close at 101 on expiration. That way you would have to buy them back as they would expire worthless, while the 106's would be worth 5 points.
Of course we should be closing out that position before then, as I'm looking for 102 this week. That's when I'll close out the position, and you should too.
Keep in mind that we could pierce through the 102 level intraday, and then start a 1-2 day bounce back up. I'll be watching the 15 minute chart closely when we are at that time period and price.
I'll post it here when I'm looking to get out, so don't worry, I won't leave you in the dark.
I owe you more than dinner! Up $6700 on the 106s and down $2500 on the 101s. That sound about right to you so far? Just want to make sure I have it right.
You're on lucky girl… you got in a better spot then me. I missed the 60 minute chart on Friday when I talked a about Black Monday, and got in at the wrong time.
You couldn't have picked it any better! Tomorrow we have the Monthly, Weekly, Daily, 60 Minute, and 15 Minute charts all pointing down!
On top of that, we are in a minor wave 3 down, inside a larger/intermediate wave 3 down, inside of Primary wave 3 down! Whew! That's a lot of Wave 3's! I'd be shocked if we don't fall at least 200 points tomorrow.
I'm really expecting more like 400 points, but I don't want to make hard predictions like that… instead I'll stay that we have extremely high odds of falling off a cliff tomorrow.
You now own me dinner! LOL!
Red, you are now my hero! Thanks for all your help today.
Bulls = Colts
Bears = Saints
Super Bowl is tomorrow… I'm a day off!
Hey Red
8 mins till the close ….Hows this for a good time to get the chute out?
Exactly! As you can see, that last chart is from Tony's blog. Of course I added my own thoughts, but I read a lot of different bloggers, and try to put all the pieces together.
Each one has their own expertise in TA's, EW's, Support and Resistance levels, etc… I then add what new events that are coming out, and then post the likely outcome.
I was off by today being Black Monday, as I overlooked the 60 minute chart on Friday's post. But, you can clearly see now, that by the end of today… all of the charts will be pointing down!
That's HUGE! And should produce a big sell off. The Monthly, Weekly, Daily, 60 Minute, and 15 Minute charts will all be insync tomorrow. I was early on my entry Friday, as I missed seeing all of these pieces of the puzzle.
Now, they are all lining up! Look out tomorrow, as this elevator is going down fast!
“A typical Wave 3 exceeds Wave 1 by, at least, 1.618 times, or even more….”
The above is common on the net concerning EW.
so wave 1 went from about 1150 to 1070. Thats 80pts
so wave 3 should be 80 (wave 1) X 1.618 = 128 pts.
wave 2 ended 1105 and then wave 3 follows.
so 1105 – 128 = 977 !!!! bingo $$$$$….Oh joy!
Tony codero's blog in congurent with the reasoning on Leo's blog. He say's we are now in a little 2 within a big 3 down.
Wow! 33 days after. That's the Masonic #, like 33rd degree. Pope John Paul I was “killed” 33 day after taking office. The significance is the masons signaling that they are in control!
How's that for conspriacy. (I nearly believe it too)
Well, nothing is written in stone of course, as I originally thought that the 60 minute charts would have been rolling over today. That's why I guessed on Friday's post that it could have been a Black Monday.
So, it looks like I'm off a day. Regardless, I'd have too say that a minor wave 3 down, inside a larger wave 3 is going to be pretty powerful. The more wave 3's inside each other, the more powerful the move. Remember, we are also inside Primary Wave 3 (or C) down too!
I'm not an expert at EW, but I believe the wave 3's are commonly a percent of the wave 1's. Look at the last chart above as I show the 1.382%, 1.5%, and 1.618% predictions.