I'm Looking to Day Trade SRS (UltraShort Real Estate ProShares ETF) Tomorrow

I'm looking to (doesn't mean that I definitely will) day trade SRS (UltraShort Real Estate ProShares ETF) tomorrow, since the Dow Jones U.S. Real Estate Index appears to have ended today 2-23's session in Wave 3 down bottoming (of a likely inverse Elliott Wave 12345 down up down up down pattern, that began at today 2-23's open), of a final/third Wave 5 downcycle that began today 2-23, see http://finance.yahoo.com/q/ta?s=%5EDJUSRE&t=5d&l=off&z=l&q=c&p=&a=&c=.

Once a Wave 4 up move peaks, I should/might (since I'm day trading, I probably won't hold it overnight if it doesn't bottom by session's end) be able to enter an SRS (UltraShort Real Estate ProShares ETF) trade and hold it until Wave 5 down of Wave 5 down bottoms.

The Dow Jones U.S. Real Estate Index appears to be headed for a test of the late November 2008 cycle low at 90.30 tomorrow or Wednesday, in the Wave 5 type downcycle that began today 2-23-09, see http://stockcharts.com/charts/gallery.html?%24djusre.

If it appears that the expected scenario is unfolding tomorrow, I'll probably hang on to SRS (or maybe I'll do 2 or 3 day trades) until the Dow Jones U.S. Real Estate Index tests the late November 2008 cycle low at 90.30. I'm going to look to hit a home run or two tomorrow.

Nothing discussed on this Blog is a recommendation, or, should be construed as investment advice.

.......http://www.JoeFRocks.com/