Time to lighten !
The current market reminds me of 1st week of May where no resistance could deter its advancement !
Being too cautious under the guidance of wave theory will either result to early exit of old long or failure to enter new long while watching the market continues to rally. This can be quite frustrating ! Anyway, Elliot Wave echos the popular saying "If you stand inside a jungle, you see only one tree trunk. If you stand outside the jungle, you see the whole jungle". The aftermath big picture ( outside the jungle ) is always correct but as the market is still unfolding, the fine details ( inside the jungle, ie: sub-wave count ) keep changing ( recount ).
Being too cautious under the guidance of wave theory will either result to early exit of old long or failure to enter new long while watching the market continues to rally. This can be quite frustrating ! Anyway, Elliot Wave echos the popular saying "If you stand inside a jungle, you see only one tree trunk. If you stand outside the jungle, you see the whole jungle". The aftermath big picture ( outside the jungle ) is always correct but as the market is still unfolding, the fine details ( inside the jungle, ie: sub-wave count ) keep changing ( recount ).
PS: 5(v) has shown up in my Elliot Wave chart but recount is possible ( probably to 5iii as what I have suggested ). Regardless of 5v or 5iii, market topping is not too far away. Time to lighten up !
Once again : “I’d rather be out of a market (or stock) wishing I was in, than in a market wishing I was out.”.
Labels: Market Direction
posted by Market Wizards @ July 28, 2009
Comments: 0
