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July 18, 2008

5th Elliot wave went unnoticed on the cruise.

1

I am back from vacation.

We flew from Rome to LA to Tucson, spending just about 20 hours in between airports and planes. It was nice to hit the bed at the end of the trip.

Though, to our surprise we didn’t sleep for too long. All three travelers – I, my husband and our 4 year old woke up simultaneously at 4:30 a.m.

Leaving unpacking for later, I went to check the stock market performance – for the first time in two weeks.

Dow Jones Index daily chart.

My theory was right (see Trading & Cooking or Cooking & Trading? & Are we in the 5th Elliot wave of Bear Market? posts). 3-yr support line has been easily broken and 5th Elliot wave of Bear Market was formed. Unfortunately, I didn’t participate in the second half of the crushing wave down. Of course it was tempting to gamble a little and leave some open positions to have the cruise paid for on the return. However, I am absolutely convinced that discipline will lead to a nice payout in the long run.

Meanwhile, it felt great not to be bothered by the waves (Mediterranean and Elliot) on the cruise.

Tags: airports, bear market, elliot wave, mediterranean, open positions, stock market performance

Filed under Trading news by admin #

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