7.1 – 2009

If you read bloomberg news during today, flow was like directly from hell.

Yesterday it was reported also german business man suiciside who participated with brilliant investment bankers who widely sold idea to short WV, you might remember it rockted up several hundred percents after porchse took a stake.

Oil made a hard correction today, down over -10%. We had nice rally, I executed today my DRYS swing, it was actually down allready -10% before I opened US account, but it was up allready over 35% since picking, I think I am going to step a side for a few days and try to catch idea where we are going because as market takes over -3% downside movements, which is bigger than any reactionary upwave movement at so far there´s chance A=B=C meaning similiar size could of IV could be met allready. I don´t think C is finished yet, but it´s also possible it is. After all, we did rally a real lot allready with terrible news for several months, so corrections meanwhile are not surprizes. DRYS alone is more than tripled allready!

I was trying to figure out some currency market setups today, but at least now I am out still completely out of blue. 42.67 $ is 50% fib retracement for oil and that´s where it trades now, could be reversal point. I don´t personally like very much IV´s, that´s why a I am bit lazy with scanning stocks or even participating to the market.

Either the way, everyone who trade any IV waves are allways playing with fire in, it will be only matter of time when new impulse achieves us to lead down. for the same reason we do not have bullish patterns much available, just zigzag´s or reactionary upwaves – we´re living a bit boring times, but my best guess is that C of IV is still under progress – 940 top of it sounds a bit short for it.

There seems to be a real lot of Armstrong PHI model discussion going on nowdays and for good reason because this market has been terrifying exactly following his Head&Shoulder Charts, more terrifying is also his acccurate timing – this is another view for Elliott Wave Kontratieff and Benner Cycle theory approach. It´s interesting Armstrong study done with very young age has not been more analyzed by fib & ew theorists even it´s been there for years even with accurate dates.

You can read Armstrong theory pinpoints via ContraHour site, I suggest you spent some time with it, specially if you´re familiar with kontratieff & benner´s cycle theory>>>