ELX Update

We do the things we do with Advanced GET to keep us in the highest probablity circumstances. The use of specific trigger methods is chief among them. Emulex Corp (ELX) is a prime example. Good looking technical setup for a short, nice GET Stochastic, clear downtrend and a weak sector. However, no trigger yet. So what are we to do? Wait and see if it develops and gives a clean trigger, that is what. Since my first post the S&P ($SPX) has bounced up and the enviroment for being short has been none to pleasant in equities. Our independent trigger in (ELX) has kep us out of a position that would not be going in our favor.

Good Trading

Craig

Comments

[Anthony]

There are times when a type 1 sell trade sets up (ie wave 4 retracement) for an entry (osc pullback, time channel unbroken,pti > 35) but the Get stoch shows a false bar showing it is still in a uptrend. Should you wait for the false bar to disappear. A type 1 sell trade that I am in where this occured is SAH. Care to comment ? Hope to see you at the seminar in Sydney.
Thanks

[Craig]

Taking a look at (SAH) I see what you are looking at. The thing with these types of setups is that the elliot Type 1 trade is looking back over a much bigger slice of time to generate its signals. You should have been triggered into your short well before the GET Stoch. setup. One thing you don't want to do it what I call "crosspollinate" the GET strategies in this way. If you are trading the Type 1 trade it. If you prefer the Stoch. trade it. If you look at this one both strategies where profitable even though they are going opposite directions. The Type 1 sell is working and the GET Stochastic by from lower made it 1/2 way to the MOB and would have been profitable with a breakeven stop. Pick your model and stay with it.

[Anthony]

Thanks for your comments re the SAH trade which worked out really well. Is it possible to give me an example on how to use TJ's web level's.

[Craig]

Perfect question for the mentoring sessions Anthony.