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Wave 3 or wave C down


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#1 CLK

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Posted 11 March 2023 - 08:45 PM

Banks just let go into what I believe
was wave 3 of 5 down, SPX will follow, this looks just like 2008 all over again with LTCM, do what you want, buy the dip, I'll be adding SPX leap puts and adding back KRE put closed Friday. If I lose because of timing, that's ok, I need to hedge a possible crash here.
That is a clear 5 waves down from the top, wave 2 abc bounce from October,
and now most likely wave 3 down, abandoning ABC correction, I'm not really much on Ewave, but this is kind of textbook.

Edited by CLK, 11 March 2023 - 08:53 PM.


#2 skott

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Posted 12 March 2023 - 01:56 AM

Yep. Saw it all along. Big bear market stuff too. Point of recognition coming for alot of folks. A fairly smart Jewish fellow told me bottoms are   made on hyped up fears,  re: the bank fail, SVB. I think its too early for that and not much fear so far



#3 cycletimer

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Posted 12 March 2023 - 07:09 AM

BLACK MONDAY may be upon us tomorrow.....



#4 pdx5

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Posted 12 March 2023 - 09:24 AM

Nah..it will be really time on Monday.
The bulls are alive..to the sound of music lol
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#5 CLK

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Posted 12 March 2023 - 04:35 PM

Fed stepping in, I'm still going to be adding SPX leap puts,
until I see a lower low with higher internals.

#6 CLK

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Posted 14 March 2023 - 09:59 AM

Internals are dropping fast but price is not, I think the big drop
gets postponed to October
as the abc up from October
seems to be a more comlplex abc
in that the abc was an A wave, this down is B and the move back up will be C that completes in September.
Still hedged with leap puts, that's all they are though, just a small hedge.