I'm about to head out to dinner with the family, so I'll do a real post later tonight. I'll just say a few words for now.
As most of you know, I really enjoy the work of the folks at Elliott Wave Intl., and lately they've been firmly behind their belief that the market is in the early throes of its final wave 5 downward before higher-degree wave 1 down is complete. In other words, the game plan is to soon plunge below last year's lows before the market is finally in a position to enjoy a sustained, multi-month countertrend rally. Here's a chart from their update tonight, used with permission:
Compared to yesterday, today was a total bore. I updated all my positions, and I entered about 30 new short positions. Look at Short Equities (1 of 3) to see where all these new positions wound up.
I'm honored at all the traffic and comment activity on the site. Keep it up!
