Tuesday, October 07, 2008

Point of Recognition?

There is an article from the Elliott Wave International brain trust, entitled,

Have You Reached the "Point of Recognition"?

just to the right of this blog. It provides a good road map as to where the market is right now, where it came from and most importantly, where the market is probably going in the days and weeks ahead. Highly recommended reading.

A

5 comments:

Dave said...

EWI's message is pretty sobering. Just looking at the market's turnaround this afternoon, is it possible this could be growing some legs?

Anonymous said...

Allan,
What did you think of Dines' IWB signal to buy today? I have lost all respect for him as a technician for holding onto the Uranium mess, but I know you do use his buy signals profitably. It would seem to fly in the face of this Elliot Wave analysis.
Eric

Allan said...

Eric,

What did you think of Dines' IWB signal to buy today?

About enough to not mention it.

Mike said...

Allan,

With the Proshares Ultra Long & Short ETF's....would you say that a 10% stop loss is definately needed cause anything less is gonna get cashed out in this kind of climate?

-Mike

Mike said...

Or is 10% too low with these 2:1 leverage vehicles?