Proverbial "Dead Cat Bounce" likely
Earlier today I wrote a mid-day post telling my readers how I recommended that my close friends take their profits on our short positions. The end result was a 3-5% gain over the last week or so. Stacked on the 6-7% gain I set them up for during the previous two weeks, and you come out with about a 10% gain for the month so far. Total number of trades: 4.
I don't personally know any successful day-traders, so I can't really compare to true day trader results, but I can compare to most any mutual fund and even most hedge funds. The RumWave has returned more profit in a month than most of them will make all year, with only 4 trades and about 10 minutes of decision making per day. Its a beautiful thing.
Below are the scores for today. We can see how the 4hr chart has turned green. On previous waves this preceded a "very short term" market rally by one day. We'll see tomorrow how it shakes out.
GOOD LUCK TOMORROW!