Having readings of ammonia, nitrite and nitrate?

We are in our 4th week of cycling our 55 gallon tank. We have 80 lbs of live sand and have about 35 lbs of live rock (we know we need 1-2 lbs per gallon but just started with this for now...). We started our cycle with the raw shrimp and let that stay in until it was completely gone. But we got some hermit crabs and a blue crab.. and a small pig fish while out boating so threw those in the tank to help cycle as well. The shrimp started decomposing and the crabs ate on it... the ammonia spiked and began to drop. As did the nitrites. The nitrates also rose to like 50ppm or more and have now settled in between 10-20ppm. So now our readings are...
ammonia is .25 (I think it looks a little on the lighter side...like in between 0 and .25)
nitrite is .1
nitrate is not quite 20ppm (in between 10 and 20)
our ph is about 8.
The readings have been this for not quite a week... the nitrite was .1 for a few days then rose to .2 then the next day went back to .1
Do we need to continue being patient or is it stalled? We have not done any water changes.. is this something we should do? The fish is showing no signs of distress and is swimming and acting happy as can be. The guy at the LFS told us they were helping cycle the tank. Just confused as to what to do... I read on another thread that the Red Sea test kits are sometimes inaccurate?? Any advice/info would be greatly appreciated!

 

I'd probably give it another week. The avg cycle is 4 weeks but can be longer. I'd also try to get a 2nd test to double check. Try taking a water sample to a LFS for a second opinion.

 

That fish will probably eat your crabs. It is not a good idea to take fish out of the ocean unless they are properly quarantined (even then I wouldn't do it) they can bring in all kinds of nasty parasites and diseases. It is entirely possible that your test kits are inacurate. I would follow Coasties advice and have your water checked with different kits.
As far as the blue crab he will probably start killing fish in your tank and should be removed. They feed on almost anything they can get hold of, including mussels, snails, fish, and even carrion and smaller blue crabs. They live in brakish water.You also might want to check your local laws concerning the fish and inverts you are collecting. Its not worth losing your boat over.Good luck.