Another Week, Another $1000 E-mini Bucks

By: Joseph Russo | Sat, Jul 21, 2012
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Money Bag

Following the massacre in Colorado, nationally and around the world, this week ended on a rather solemn and disturbing note. We extend our deepest condolences to all of the innocent family's and victims of this most heinous crime.

As for the equity markets, they ended the week simply on a sour note.

Despite the plethora of challenges strewn throughout the financial sphere, a sudden resumption of euphoria, which rocketed the S&P north of 1370 (the May 2011 high) diminished as concerns resurfaced suddenly.

Though minor in contrast to the 8.97% rally from its 1266.74 low in June, the S&P ended Friday's session down 13.85 giving back a tad more than 1% of its recent bull run.

No matter how ugly the fundamentals, no matter how corrupt the system as a whole, and no matter how bad the technical situation gets on occasion, embedded bulls will simply not go down with anything short of the declaration of World War-III. Perversely, even that would likely spark a rally.


Have no Fear the Next Generation is here:

The next generation of Elliott Wave that is. Simply put, we have taken Elliott Wave theory along with the basic tenets of technical analysis, and we have fused these disciplines algorithmically into mathematically coded non-discretionary trading models. We share them by subscription for the advantage of speculators and investors across all time horizons.

Just as we are optimistic that the youngest of our generation will beat the odds and prevail against all that plagues the system as a whole, we place similar faith in the trading methodologies that we have designed to beat the current dynamic regardless of its level of dysfunction.

Two profitable occurrences have taken place in the above chart:

Short-Term Trading Accounts

As highlighted within our daily balance sheet below, these new short positions are up by 4 ½ points, and have open profits of $225 per contract. Mission Accomplished.





Joseph Russo

Author: Joseph Russo

Joseph Russo
Chief Editor and Technical Analyst
Elliott Wave Technology

Joseph Russo

Since the bubble, 911, and the 2002 market crash, Elliott Wave Technology's mission remains the delivery of valuable solutions-based services that empower clients to execute successful trading and investment decisions in all market environments.

Joe Russo is an entrepreneurial publisher and market analyst providing digital online media solutions designed to assist traders and investors in prudently and profitably navigating their exposure to the financial markets.

Since the official launch of his Elliott Wave Technology website in 2005, he has established an outstanding record of accomplishment, including but not limited to, ...

  • In 2005, he elicited a major long-term wealth producing nugget of guidance in suggesting strongly that members give serious consideration to apportioning 10%-20% of their net worth toward the physical acquisition of Gold (@ $400.) and Silver (@ $6.00).

  • In 2006, the (MTA) Market Technicians Association featured his article "Scaling Perceptions amid the Global Equity Boom" in their industry newsletter, "Technically Speaking."

  • On May 6 of 2007, five months prior to the market top in 2007, though still bullish at that time, he publicly warned long-term investors not to be fooled again, in "Bullish Like There's No Tomorrow."

  • On March 10 of 2008, with another 48% of downside remaining to the bottom of the great bear market of 2008-2009, in "V-for Vendetta," using the Wilshire 5000 as proxy, he publicly laid out the case for the depth and amplitude of the unfolding bear market, which marked terminal to a rather nice long-run in equity values.

  • Working extensively with EasyLanguage® programmer George Pruitt in 2010 and 2011, the author of "Building Winning Trading Systems with TradeStation," he assisted in the development of several proprietary trading systems.

  • On February 11, 2011, he publicly made available his call for a key bottom in the long bond at 117 '3/32. Within a year and half from his call, the long bond rallied in excess of 30% to new all time highs in July of 2012.

  • For the benefit of members and his general readership, he responded to widespread levels of economic and financial uncertainty in the development of Prudent Measures in 2012.

  • He publicly warned of a major top in Apple on October 26, 2012 in the very early stages of a 40% decline from its all time high.

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