ARE YOU READY????

We've been waiting and waiting and waiting. I think we are very close to our massive sell off. Are you ready to make money? For those that have put off an entry into this market (from the bearish side...put options), this might be your last chance to get in before the big move down. I'm not talking about risking everything on it, but at least getting positioned to make some money. Many of you want to take other courses from me...this could be your chance to make the money to do it....to learn Elliott Wave analysis which I have used often in the last few weeks. The key areas to look at tomorrow are the 1077.74 (today's high) and of course the 1040 area...both on the S&P 500. If we move above 1077.74, we might have a bit more correcting to do...yes, more waiting. If we move below 1040, we'll have plenty of money to make. This next expected move down should be the biggest since this downtrend started. If we get it, I expect many success stories...not to mention an all expense paid trip to Hawaii to recuperate from all these late night blog postings. I've been mostly talking about trades in the SPY, DIA, and QQQQ. If we get the kind of move I think we will get, you can just about trade anything bearish (that's put options for you beginners) and you should make money. In fact, you can often make a higher percentage trading the individual stocks. My bet is that the big money on the move down will be in technology. These stocks led the rally for most of last year and for the most part they have held up fairly well during the first moves down. However, the Nasdaq was the only major market that was still down yesterday as the Dow and S&P 500 staged the late session rally. The Dow was up over 100 points, but the Nasdaq was negative? That can't be ignored. The Nasdaq 100 (NDX) had the biggest percentage move down today (almost 1%) compared to the major indexes. Chip stocks like INTC, CREE, MRVL, and BRCM could be nice put option candidates. If you are brave enough, you could try the Big Boys like AAPL, GOOG, AMZN, and BIDU. Try to wait for confirmation (below 1040 on the S&P 500). Otherwise, you might be in a very stressful situation as you continue to wait for the big move. Again...watch the 1077.74 and 1040 areas for confirmation. Aloha!