IPVO to .60 any moment now... /e

ARET for 30 min. not filling at current ask fwiw.../e

PTSO 50dma bounce developing.../e

PTSO 50dma bounce developing.../e

andersonmmi

buying dried up for a bit...

fwiw, those are buys at 1.65 just now and printed red as if they were sells....

not over yet... imho

VWPT on right shoulder breakout candle..over 5/10/50dmas../e

RCNC short interest over 9 million shares

There are over 9 million shares sold short on RCNC. This should provide rocket fuel for holders on today's breakout...

http://www.nasdaq.com/asp/quotes_full.asp?mode=&kind=shortint&symbol=RCNC&symbol=&sy...

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CK28...PTSO..positive OBV and above 5/10/50 dma's ../e

RCNC..thank LATINO..his all the way...Thx L.../e

Rivet RCNC..nice chart quick draw.../e

bought RCNC 5d/50d ma's cross today /e

NPCT looking interesting again over 5/10/50dma's /e

GTEL bounce off 32dma this AM...

http://stockcharts.com/def/servlet/SC.web?c=gtel,uu[l,a]daclyyay[pb5,10!b32!f][vc60][iUg!Lv25]&p...

CMRC gapped up over 5/10/50dma's

no position yet

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chipped re: mark to mkt

1. If you file this year to MtoM it is not valid till NEXT year's filing '04 taxes filed in '05. It is not retro to '03.

2. Mark to Mkt is not that big a deal imo unless you hold large positions over the new year. It just takes paper +/-'s and plants them in the ending tax year and starts you out w/a new January 1st basis on holdings. Not too important for a short term trader.

3. As a short term trader, you should just expect to pay your marginal tax rate on NET profits at year end.

4. If you have had any net loss years, those losses are eligible as loss carry-forwards into the current years. All loss carryforwards should be netted out with current year gains until the losses are zero before you pay a nickel in current year taxes.

5. I think you can also take $3,000 loss carryforward against any other non trading income per year, if in fact you have any years that were net loss.

6. I explored this subject at length a few years back and elected to just treat trading as a regular business with the standard business deductions you would expect w/any other full time business. This election taxes one at the marginal tax rate based on year end net income just like a normal paycheck w/out the hastles of business licensing/taxing because of the special tax treatment allotted full time investing/trading. Trading is not treated as a business taxable business entity, but as investment activity.

Hope this helps. I am not an accountant, so take all of the above with a grain of salt. Check and confirm with yours. Finding an accountant with trading tax treatment knowledge is tough. good luck

Also, I use Quicken as personal accounting software. It allows for electronic download of all trading activity from your broker directly into the program. Saves incredible hours at tax time and shows clearly the millions of $$'s traded over a 12 month period, trade by trade, to justify the business claim.

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another site: http://www.tradersaccounting.com/

QTFV bounce off 5dma and trending

toward 50dma near .079ish. worth a watch...long

http://stockcharts.com/def/servlet/SC.web?c=qtfv,uu[l,a]daclyyay[pb5,10!f][vc60][iUb4!Ll14]&pref...

EDIG /e

NPCT sitting on 50dma @ .25 watch for bounce. /e

OT: chipped...re: wash rule

don't be afraid to buy a good one again before 30 day window...you will just change your basis for the next sale...consult your accnt, but don't not re-buy a good one just to qualify for the wash.

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ALTI bounce off 5dma area..e/

EYE_ON_...DTII

EYE...default IS bad news...can be precursor to a BK filing for protection from major bank. be careful.

or, could be a Very hi risk buying opp...

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PMU closing HOD...probable gap monday /e

PMU 5/10dma crossing up @ 1.13 /e

GOLD 24hr. world chart...

http://www.kitco.com/

click on "daily gold chart" on right side of page gives 24hr gold quotes in world mkt for 3 day window...great for gold guys.

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ATNG moving hard off 5/10dma's /e

CMRC thru 50dma today /e

Up tomorrow imho...

The wave 3 down was not finished yesterday and completed today at precisely the 2.618*W1 fib level...fib BIG W3 from 1904 is 1783.57 and we hit precisely 1783.46 LOD today to finish the W3 down I thought finished yesterday...Then we got the W4 up correction mid day to 1812.81 actual where 1811.91 is the precise fib W4 so we are now in or have finished the final W5 down. W5's have not been completing lately and this one may be no different. If the W5 completes, 1765.91 or 1755.03 are my targets.

The futures are up 1.5 as I write this so we may get the bounce tomorrow off todays close. My guess is a lot of shorts holding overnight for the hoped for gap down...

Also, Put/Call ratio closed today at 1.06 so lots of steam in the pressure cooker. P/C's of 1+ have historically sparked a rally.

W2 up correction from current low of 1783.46 would target 1814.03/1832.94/1863.94.

The big move down in a W3 expected in October shouldn't occur till we get this upward correction...But then remember...

"The market can stay irrational longer than you can stay solvent..."

GLTA
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See ya in the mid 1600's by end October

all above imho etc, etc, yada, yada

So, here's what I'm seeing...

I've been looking at the #'s on the naz recently and here is what seems to make sense from an Ewave perspective...in order to make some guestimates on what the funk is next..

W1 down 1913 to 1867 actual length of 46 points

W2 1867 up to 1904 was precisely .786 retracement of the first wave move and as far as it can go w/out continuing up...

W3 1904 to 1786...the killer waterfall on Friday, but definable as a double W3 instead of 1.618 * W1, it traveled to the next fib level of 2.618 W1 (precise number is 1783.57)

W4 1786 to targets is now in progress and suggests 2 targets...travel to 1831 (standard move .382 [.236 was 1814 and already breached]), or 1845 (less likely) then head down again in...

W5 down targets of (1) 1785 (W1=W5) or (2) 1758 (.618W1 + W3)

As always, hope anyone who cares and actually reads/uses this is careful. Trading the turns can be effective on beta stocks even though the data may just create a situation of being confused at a higher level...like the author.

all imho

GLGT
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Secondary guess of 1799 LOD holding so far...

long IIJI ASKJ for bounce

From post 2086:

W1 Down 1913.74/1867.14
W2 Up 1867/1904
W3 Down 1904/1827.8
W4 Up 1827/1856/22
W5 down 1856/to Estimate: 1809.62 or 1799 secondary (should gap down at open to this imho)

Then, if all is right with the universe, we get an upward correction of the entire move from 1913 to maybe 1826/1833 (most likely) or standard move to 1842/1849 (don't think so...). Lower projections match the 1799 secondary if in fact either of them happen.

5 textbook waves down from 9/19 about to complete. Probably at the open Friday 9/26

W1 Down 1913.74/1867.14
W2 Up 1867/1904
W3 Down 1904/1827.8
W4 Up 1827/1856/22
W5 down 1856/to Estimate: 1809.62 or 1799 secondary (should gap down at open to this imho)

Then, if all is right with the universe, we get an upward correction of the entire move from 1913 to maybe 1826/1833 (most likely) or standard move to 1842/1849 (don't think so...). Lower projections match the 1799 secondary if in fact either of them happen.

Then the numbers suggest another BIG move down (3 of 3) where 1750's (or, yikes! 1720's) are just over the horizon.

GLTA
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SoDamnInsane's or Osama Ben Dover's head on a platter would keep this all at bay...

all imho...

recent trading favorites: SINA, SOHU, ASKJ, QLGC high betas's all

technically support is...

$3.47 on the "C = 1.618 A" ... $3.47 is also conveniently the bottom of a "3" down ($3.55 may be close enough). The next move from this # range is either the beginning of an impulse upward or a correction upward before more d/t's...existential question for now.

gl
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The math on the above A = 1.618 of C comments looks like this:

A down
$5.24 to $4.20 $1.04 distance traveled

B up
$4.20 to $5.15 $0.95 distance traveled

C down...where C=1.618 x A distance (1.618 x $1.04 = $1.68)
$5.15 - $1.68 = $3.47

If we break down below $3.47, the 5 waves down is in play. WAVX needs to get back thru the dtl (currentl $4.24ish and moving down) to signal an upside reversal in play.

NAZ -2.4% is pulling almost everything down with it now and closed at near the LOD. WAVX (+2.5%) won't have enough gas to fully counter this ball and chain till a naz reversal is in...I still think we get to the "$10.30's target"...but not at a scamper



imho
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eamonnshute...probably yes. /e

Larry Dudash you might also consider a buy in at a break upside of $5.04. Breaking that # suggests that WAVX has entered the "3" up in elliot wave parlance and my current target on the up move on that break is a scamper to $10.30 range before a correction.

ALL imho

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On a purely technical standpoint

WAVX might need to still test $3.44 which is the std. retracement of the entire move from 0.84 to $5.04. Although WAVX did touch $3.56 Friday so the retracement requirements may be satisfied?...existential question till next big move. In either event, the next move up would suggest a neighborhood of $10.23ish before correcting again...IMHO!!! If, on the other hand, WAVX finds its way to much less than $3.44, a bigger retracement event is signaled...$2.44 is the next stop down, but I don't think it is possible w/recent news unless silence follows.

The NASDAQ is testing right now the utl from all the way back to 1253 (~1700 today). Recent history suggests the NAZ bounces with conviction off this number. If it fails, mid 1600's coming. At some point, WAVX will again begin acting in a high beta to the NAZ moves AGAIN IMHO. So this is why I mention this...

all imho and done on a cheap laptop

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2b...

What ever became of Jesse L.?

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Nice to be back...

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test...

just visiting... not posting much anywhere.

will check in occasionally...

fwiw...ewaves layed over trendline breaks up/down have been very predictive of short term trend changes/parameters.

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