Hello,
Welcome to
Stock
Market Trading
the new look newsletter for
2011 from Traders
Day
Trading & Kenny's
Elliott Waves Blog.
*****
S&P 500 Cash Index - The
Week Ahead
The
Week That Was...
Last week, I was not entirely convinced
by the break higher and
suspected that it would turn lower again due to the longer term
technical analysis.....
I decided to trade it very aggressively
which as it turned out, was exactly the right thing to do but
unfortunately the long term stops were tripped in premarket trading by
only a couple of points before it resumed the expected down trend.
Over
all, the entire campaign came out with a small profit as the 2
profitable
trades offset the losses on last weeks trade entries. However, I did
make a serious mistake in lowering the stops so far on those 2
trades.....the optimum stop loss level was at the level of the second
entry and
is where the stops should have remained.
I did lower the stops
for money management purposes due to the preferred wave count, but
ultimately they were in the wrong place.
The result is that
instead of the long term campaign carrying around the 160 points of
profit that it should have been at this point, for the sake of a few
points, it stopped out at exactly the wrong time.
The
Week Ahead...
Since last weeks price action took us
out of all trades, it is with regret, but I have decided to put this
weekly newsletter on ice for a while.
As
you know, much as I love producing it, I do it as a hobby and
distribute it completely free. However, bringing it to you, does incur
costs, especially the cost in time commitment required to produce it.
Last weeks request for donations to help keep it free had a zero
response and I do not want to introduce charges, as the administration
of that in turn then adds to the time commitment required.
I will still produce the newsletter but it will only be as time permits
and probably only once a month or so.
I want to spend the time developing the website further
instead. I will reintroduce the weekly newsletter at some point in the
future, but I have so much more content that I want to produce for the
website that I have decided to focus on that for a while.
Meantime, I will still be regularly updating the analysis on my blog so
please do check in there. If you would like email notifications of new
blog posts with my analysis, please register at the blog to join the
mailing list for that.
Thank
you for subscribing to Stock Market Trading and I hope that you have
found it useful. Please do remain subscribed to ensure that you recieve
any new issues and are notified directly when I resume distributing the
weekly analysis.
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Elliott
Wave Principle
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