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fib_1618

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Posts: 4,423
Reply with quote  #1 
2013-10-22 16:00:55 [Message] fib_1618 -> Chat: good day
2013-10-22 16:01:01 [Message] fib_1618 -> Chat: how is everyone?
2013-10-22 16:01:35 [Message] thespookyone -> Chat: Super! And you?
2013-10-22 16:02:11 [Message] fib_1618 -> Chat: great!
2013-10-22 16:03:37 [Message] fib_1618 -> Chat: OK...any questions or comments before we get started??
2013-10-22 16:03:52 [Message] thespookyone -> Chat: Did you see the action in NFLX-what do you make of it? Closed mom out for a 45$ gain after hours-then watched it get toasted today
2013-10-22 16:04:27 [Message] fib_1618 -> Chat: from what I heard later on
2013-10-22 16:04:35 [Message] fib_1618 -> Chat: Carl Icahn sold half his position today
2013-10-22 16:04:42 [Message] fib_1618 -> Chat: let me look up the story
2013-10-22 16:04:44 [Message] thespookyone -> Chat: OH!
2013-10-22 16:05:46 [Message] fib_1618 -> Chat: he sold 3 million shares
2013-10-22 16:05:56 [Message] fib_1618 -> Chat: and he made 800 million dollars on the trade
2013-10-22 16:06:08 [Message] thespookyone -> Chat: sweet
2013-10-22 16:06:18 [Message] fib_1618 -> Chat: wonder if he's going to buy Tweeter? [smile]
2013-10-22 16:06:22 [Message] thespookyone -> Chat: mom only made 2 grand
2013-10-22 16:06:28 [Message] fib_1618 -> Chat: it's all relative
2013-10-22 16:06:35 [Message] fib_1618 -> Chat: (literally)
2013-10-22 16:06:37 [Message] thespookyone -> Chat: yep
2013-10-22 16:06:42 [Message] thespookyone -> Chat: LOL
2013-10-22 16:07:32 [Message] fib_1618 -> Chat: he still has a 4.5% stake in the company
2013-10-22 16:07:38 [Message] fib_1618 -> Chat: from 9.4%
2013-10-22 16:08:07 [Message] thespookyone -> Chat: cool, that was some price action
2013-10-22 16:08:07 [Message] fib_1618 -> Chat: and he thanked everyone at the company...nice guy! lol
2013-10-22 16:08:16 [Message] fib_1618 -> Chat: and Kevin Spacey!
2013-10-22 16:09:02 [Message] fib_1618 -> Chat: he actually started selling on October 10th...and the news hit the floor today
2013-10-22 16:09:13 [Message] thespookyone -> Chat: ah
2013-10-22 16:09:47 [Message] fib_1618 -> Chat: not bad for being 77
2013-10-22 16:10:02 [Message] fib_1618 -> Chat: OK...let me get DP up and we'll get started
2013-10-22 16:10:03 [Message] thespookyone -> Chat: nope!
2013-10-22 16:10:40 [Message] fib_1618 -> Chat: after moving slightly lower on Monday from Friday's highs
2013-10-22 16:10:50 [Message] fib_1618 -> Chat: the NYSE CO breadth MCO bounced higher today
2013-10-22 16:11:08 [Message] fib_1618 -> Chat: and this helped push the NYSE CO breadth MCSUM above the +500 level
2013-10-22 16:11:09 [Message] fib_1618 -> Chat: plus
2013-10-22 16:11:42 [Message] fib_1618 -> Chat: it also pushed the pattern to higher highs which helped create the today's price gap seen on the chart
2013-10-22 16:12:00 [Message] fib_1618 -> Chat: this now clears the way for another couple of weeks of advancing price action in the NYA
2013-10-22 16:12:31 [Message] fib_1618 -> Chat: oh...and let's also acknowledged that the NYA closed above the 10,000 mark today as well
2013-10-22 16:13:04 [Message] fib_1618 -> Chat: leaving it about 250 points away from its all time highs
2013-10-22 16:13:21 [Message] thespookyone -> Chat: took out declining tops on summation, as well?
2013-10-22 16:13:28 [Message] fib_1618 -> Chat: and with this break to new highs in the MCSUM
2013-10-22 16:13:38 [Message] fib_1618 -> Chat: if we see the same with the NYSE Composite data
2013-10-22 16:13:50 [Message] fib_1618 -> Chat: then we will challenge those all time highs with this current sequence
2013-10-22 16:13:54 [Message] fib_1618 -> Chat: checking
2013-10-22 16:14:25 [Message] fib_1618 -> Chat: the break above the declining tops line actually took place on Friday
2013-10-22 16:14:32 [Message] thespookyone -> Chat: thx
2013-10-22 16:14:50 [Message] fib_1618 -> Chat: and that provided the lift that we thought we might get through at least today's action
2013-10-22 16:15:21 [Message] fib_1618 -> Chat: next technical target now for this MCSUM is the +750 level
2013-10-22 16:15:37 [Message] fib_1618 -> Chat: so we should expect the CO MCO to remain above its zero line for the next week or so
2013-10-22 16:15:55 [Message] fib_1618 -> Chat: looking at the NYSE Composite breadth MCO
2013-10-22 16:16:01 [Message] fib_1618 -> Chat: and we see here that unlike the CO MCO
2013-10-22 16:16:10 [Message] fib_1618 -> Chat: we did move above Friday's high point
2013-10-22 16:16:26 [Message] fib_1618 -> Chat: and that not only confirms today's higher highs in prices
2013-10-22 16:16:59 [Message] fib_1618 -> Chat: but this also suggests that we're now trending to the upside
2013-10-22 16:17:21 [Message] fib_1618 -> Chat: and on the backs of the interest rate sensitive issues
2013-10-22 16:17:34 [Message] fib_1618 -> Chat: as was mentioned over the weekend with the Weekly Breadth Data
2013-10-22 16:18:03 [Message] fib_1618 -> Chat: any move below the 2.45% level on the 10 year note would then clear the way for a pullback all the way down to around the 2.15% level
2013-10-22 16:18:08 [Message] fib_1618 -> Chat: let's see where we closed today
2013-10-22 16:18:17 [Message] fib_1618 -> Chat: I'm sure we have now fully met our initial target of 2.55%
2013-10-22 16:18:38 [Message] fib_1618 -> Chat: closed at 2.51%
2013-10-22 16:19:07 [Message] fib_1618 -> Chat: so our minimal downside objective given last month has now been met
2013-10-22 16:19:25 [Message] fib_1618 -> Chat: now we'll see just how much weaker the economy is...especially with the shutdown now in play
2013-10-22 16:19:51 [Message] fib_1618 -> Chat: for now at least
2013-10-22 16:20:34 [Message] fib_1618 -> Chat: it looks like we have a corrective structure from the blow off highs of early September now in place
2013-10-22 16:20:50 [Message] fib_1618 -> Chat: so that trade is done
2013-10-22 16:21:23 [Message] fib_1618 -> Chat: moving to the NASDAQ breadth MCO
2013-10-22 16:21:36 [Message] fib_1618 -> Chat: and here we had a small point change to the downside
2013-10-22 16:21:45 [Message] fib_1618 -> Chat: so not much commitment there
2013-10-22 16:22:27 [Message] fib_1618 -> Chat: while the NASDAQ Composite came within 53 points of meeting our upside price target of 4000 given back in the spring of this year
2013-10-22 16:22:45 [Message] fib_1618 -> Chat: can you believe that we're back to the levels seen at the 2000 top?
2013-10-22 16:22:47 [Message] fib_1618 -> Chat: amazing
2013-10-22 16:22:57 [Message] thespookyone -> Chat: unreal
2013-10-22 16:23:15 [Message] fib_1618 -> Chat: it only took (a Fibonacci) 13 years to make it back again
2013-10-22 16:23:43 [Message] thespookyone -> Chat: honestly, I thought I wouldn't live to see it
2013-10-22 16:23:50 [Message] fib_1618 -> Chat: no one really did
2013-10-22 16:23:56 [Message] fib_1618 -> Chat: after losing 86% of its value
2013-10-22 16:23:59 [Message] fib_1618 -> Chat: who would of thought it could be done?
2013-10-22 16:24:05 [Message] fib_1618 -> Chat: so it goes to show
2013-10-22 16:24:21 [Message] fib_1618 -> Chat: that if you stick around long enough you'll see just about everything [wink]
2013-10-22 16:24:42 [Message] thespookyone -> Chat: the shoe salesman looks more right all the time
2013-10-22 16:24:56 [Message] fib_1618 -> Chat: so does the shoe shiner [smile]
2013-10-22 16:25:08 [Message] thespookyone -> Chat: [smile]
2013-10-22 16:25:14 [Message] fib_1618 -> Chat: looking at the NASDAQ breadth MCSUM
2013-10-22 16:25:52 [Message] fib_1618 -> Chat: we see that it is now approaching both pattern resistance and overhead resistance
2013-10-22 16:26:01 [Message] fib_1618 -> Chat: after already breaking above its declining tops line last week
2013-10-22 16:26:09 [Message] fib_1618 -> Chat: given the current MCO pattern
2013-10-22 16:26:21 [Message] fib_1618 -> Chat: we should be able to move above current levels on the MCSUM within a day or so
2013-10-22 16:27:15 [Message] fib_1618 -> Chat: while allowing for a down close on Wednesday with the outside range/mid range day with today's price bar
2013-10-22 16:27:27 [Message] fib_1618 -> Chat: in any event
2013-10-22 16:27:36 [Message] fib_1618 -> Chat: the trend here is most decisively up for now
2013-10-22 16:28:05 [Message] fib_1618 -> Chat: with a gain of over 200 points in the last 8 trading sessions
2013-10-22 16:28:08 [Message] fib_1618 -> Chat: not bad
2013-10-22 16:28:43 [Message] fib_1618 -> Chat: small point change as well with the NDX breadth MCO
2013-10-22 16:29:11 [Message] fib_1618 -> Chat: with the NDX breadth MCSUM now challenging the +750 level
2013-10-22 16:29:26 [Message] fib_1618 -> Chat: but as we talked about last week
2013-10-22 16:29:47 [Message] fib_1618 -> Chat: the secondaries seem to be bringing up the rear as far as amplitude is concerned
2013-10-22 16:30:05 [Message] fib_1618 -> Chat: but this may be due to the fact that the large caps are making up for lost time and profits
2013-10-22 16:30:33 [Message] fib_1618 -> Chat: a higher high by the smallest of margins on the SPX breadth MCO
2013-10-22 16:30:43 [Message] fib_1618 -> Chat: so that confirms today's all time high close
2013-10-22 16:31:11 [Message] fib_1618 -> Chat: leaving us about 70 SPX points from reaching our upside target of 1825
2013-10-22 16:31:38 [Message] fib_1618 -> Chat: daily volume on the chart is also bullish at this time
2013-10-22 16:32:03 [Message] fib_1618 -> Chat: with today's volume higher than that of Friday's OPEX
2013-10-22 16:32:19 [Message] fib_1618 -> Chat: here too we have a mid range close
2013-10-22 16:32:28 [Message] fib_1618 -> Chat: so we could see a day or two of pause
2013-10-22 16:33:00 [Message] fib_1618 -> Chat: which will then provide the base for higher price levels
2013-10-22 16:33:29 [Message] fib_1618 -> Chat: looks like a higher high as well with the OEX breadth MCO
2013-10-22 16:34:07 [Message] fib_1618 -> Chat: as the OEX breadth MCSUM continues to play catch up to the other indices
2013-10-22 16:34:47 [Message] fib_1618 -> Chat: the Dow breadth MCSUM is now 41 data points away from its zero line
2013-10-22 16:35:02 [Message] fib_1618 -> Chat: which is pretty much where we thought we would be today
2013-10-22 16:35:22 [Message] fib_1618 -> Chat: so now we have to watch to see how we do at these levels
2013-10-22 16:35:33 [Message] fib_1618 -> Chat: are we to be turned away?
2013-10-22 16:35:40 [Message] fib_1618 -> Chat: or after a day or so of back and fill
2013-10-22 16:35:49 [Message] fib_1618 -> Chat: we are then able to move sharply higher?
2013-10-22 16:36:06 [Message] fib_1618 -> Chat: one thing's for sure
2013-10-22 16:36:29 [Message] fib_1618 -> Chat: any break above the MCSUM zero line will likely give us another "statement day" by the bulls
2013-10-22 16:36:31 [Message] fib_1618 -> Chat: in this case
2013-10-22 16:36:38 [Message] fib_1618 -> Chat: a new all time closing high would be likely in the Dow average
2013-10-22 16:37:43 [Message] fib_1618 -> Chat: which is only 209 points from these levels
2013-10-22 16:38:31 [Message] fib_1618 -> Chat: and that's 1.3% away
2013-10-22 16:39:24 [Message] fib_1618 -> Chat: we also got a bounce today in the MID breadth MCO
2013-10-22 16:39:35 [Message] fib_1618 -> Chat: but not enough to push it above Friday's highs
2013-10-22 16:39:36 [Message] fib_1618 -> Chat: however
2013-10-22 16:39:44 [Message] fib_1618 -> Chat: the 10% trend did move to a higher high
2013-10-22 16:40:02 [Message] fib_1618 -> Chat: and sometimes when we see this kind of inconsistency between the MCO and the 10% we can see a reset in the pattern
2013-10-22 16:40:15 [Message] fib_1618 -> Chat: if not a top
2013-10-22 16:40:27 [Message] fib_1618 -> Chat: so we'll see what the bulls bring to the table here near term
2013-10-22 16:40:41 [Message] fib_1618 -> Chat: meanwhile
2013-10-22 16:41:27 [Message] fib_1618 -> Chat: the MID breadth MCSUM is now just below its natural area of resistance of the +750 level with today's reading of +728
2013-10-22 16:42:15 [Message] fib_1618 -> Chat: so we'll see how much fuel is left in the solid rocket boosters in the next day or so
2013-10-22 16:42:43 [Message] fib_1618 -> Chat: basically the same situation exists with the SML breadth MCO and MCSUM
2013-10-22 16:42:54 [Message] fib_1618 -> Chat: with a small point change in the SML breadth MCO tonight
2013-10-22 16:43:32 [Message] fib_1618 -> Chat: looking at Friday's upside gap in the close up chart of the SML
2013-10-22 16:43:43 [Message] fib_1618 -> Chat: we'll classify it for now as a "measuring gap"
2013-10-22 16:43:56 [Message] fib_1618 -> Chat: and this would then give us an upside price target of...
2013-10-22 16:44:43 [Message] fib_1618 -> Chat: 660
2013-10-22 16:45:03 [Message] fib_1618 -> Chat: so another 27 points from here
2013-10-22 16:45:20 [Message] fib_1618 -> Chat: and a bounce higher as well in the TM breadth MCO
2013-10-22 16:45:41 [Message] fib_1618 -> Chat: and the TM breadth MCSUM has also moved above its early October high point
2013-10-22 16:45:58 [Message] fib_1618 -> Chat: and this all suggests that an Elliott 3rd wave higher, of one degree or the other, is in progress
2013-10-22 16:46:28 [Message] fib_1618 -> Chat: and using the measuring gap from the SML data
2013-10-22 16:46:55 [Message] fib_1618 -> Chat: it wouldn't be too surprising to see the current trend continue until the beginning of November
2013-10-22 16:47:00 [Message] fib_1618 -> Chat: so...
2013-10-22 16:47:12 [Message] fib_1618 -> Chat: we continue to get great breadth readings all around
2013-10-22 16:47:26 [Message] fib_1618 -> Chat: with the possible exception of the NASDAQ and NDX
2013-10-22 16:47:29 [Message] fib_1618 -> Chat: then again
2013-10-22 16:47:54 [Message] fib_1618 -> Chat: the secondaries were leading during the first move higher we saw from the early September lows
2013-10-22 16:48:09 [Message] fib_1618 -> Chat: so this maybe nothing more than the large caps playing a game of catch up
2013-10-22 16:48:28 [Message] fib_1618 -> Chat: from where money will very soon decide that we're fairly valued again
2013-10-22 16:48:46 [Message] fib_1618 -> Chat: and then switch back to the growth area of the market
2013-10-22 16:48:46 [Message] thespookyone -> Chat: some evil night, China will get 4G, then...
2013-10-22 16:48:57 [Message] fib_1618 -> Chat: ha
2013-10-22 16:49:09 [Message] fib_1618 -> Chat: hey...
2013-10-22 16:49:19 [Message] fib_1618 -> Chat: let them land on the moon first [smile]
2013-10-22 16:49:42 [Message] thespookyone -> Chat: does AAPL make capsules? LOL
2013-10-22 16:49:59 [Message] fib_1618 -> Chat: don't know...but did you see what their new building is going to look like?
2013-10-22 16:50:08 [Message] thespookyone -> Chat: no
2013-10-22 16:50:13 [Message] fib_1618 -> Chat: a flying saucer
2013-10-22 16:50:19 [Message] fib_1618 -> Chat: let me see if I can get a pic
2013-10-22 16:50:25 [Message] thespookyone -> Chat: wow
2013-10-22 16:51:30 [Message] fib_1618 -> Chat: http://tinyurl.com/mtbxwnf
2013-10-22 16:51:34 [Message] thespookyone -> Chat: you know, after that 20 curved back to the 200-it picked up a lot of points. Thanks much for that take and explanation!!
2013-10-22 16:51:59 [Message] fib_1618 -> Chat: it's always good when a plan comes together [smile]
2013-10-22 16:52:03 [Message] fib_1618 -> Chat: and that's the thing with TA
2013-10-22 16:52:10 [Message] fib_1618 -> Chat: it works because...it works
2013-10-22 16:52:30 [Message] thespookyone -> Chat: Old School
2013-10-22 16:52:41 [Message] fib_1618 -> Chat: pretty cool building, eh?
2013-10-22 16:52:48 [Message] thespookyone -> Chat: SWEET
2013-10-22 16:54:37 [Message] fib_1618 -> Chat: this is funny... http://tinyurl.com/m7dunlg
2013-10-22 16:55:20 [Message] fib_1618 -> Chat: anyway...let's look at the volume data
2013-10-22 16:56:11 [Message] fib_1618 -> Chat: the CO NYSE volume MCO continues to drag higher
2013-10-22 16:56:21 [Message] fib_1618 -> Chat: so we need to see better conviction here soon
2013-10-22 16:56:50 [Message] fib_1618 -> Chat: though if we take ruler to monitor
2013-10-22 16:57:13 [Message] fib_1618 -> Chat: we see that we perceptively broke above the declining tops line on the NYSE CO volume MCSUM today
2013-10-22 16:57:42 [Message] fib_1618 -> Chat: so ideally we would want to see things start to pick up here on the buy side by Thursday
2013-10-22 16:58:23 [Message] fib_1618 -> Chat: the NYSE Composite volume MCSUM has already broken above its declining tops line on Monday
2013-10-22 16:58:43 [Message] fib_1618 -> Chat: and though its moving in tandem with breadth
2013-10-22 16:59:01 [Message] fib_1618 -> Chat: a little more strength here would be nice to see to maybe show a bit more leadership in this relationship
2013-10-22 16:59:33 [Message] fib_1618 -> Chat: the NASDAQ volume MCO finally broke above its zero line on Friday
2013-10-22 16:59:41 [Message] fib_1618 -> Chat: and then snapped back to it today
2013-10-22 17:00:29 [Message] fib_1618 -> Chat: the bulls would love to see a move higher that would take out the overhead horizontal resistance we see in the pattern
2013-10-22 17:00:43 [Message] fib_1618 -> Chat: otherwise prices are going to continue to struggle like they did today
2013-10-22 17:01:06 [Message] fib_1618 -> Chat: snapback to the zero line as well for the NDX volume MCO
2013-10-22 17:01:41 [Message] fib_1618 -> Chat: with the same kind of near term challenge of breaking above horizontal resistance on the chart
2013-10-22 17:02:15 [Message] fib_1618 -> Chat: taking a cursory view of the NDX volume MCO pattern
2013-10-22 17:02:31 [Message] fib_1618 -> Chat: and we see what looks like a complex inverted head and shoulders pattern at work
2013-10-22 17:02:52 [Message] fib_1618 -> Chat: though it's not the same kind of head and shoulders that one would see with prices
2013-10-22 17:02:56 [Message] fib_1618 -> Chat: but it has the same look
2013-10-22 17:03:22 [Message] fib_1618 -> Chat: we'll see if it foretells what the price pattern would indicate...an upside breakout
2013-10-22 17:04:01 [Message] fib_1618 -> Chat: the SPX volume MCO is showing the same kind of strength right now as the NYSE Composite volume MCO
2013-10-22 17:04:31 [Message] fib_1618 -> Chat: same with the OEX volume MCO
2013-10-22 17:04:41 [Message] fib_1618 -> Chat: as well as the Dow volume MCO
2013-10-22 17:05:01 [Message] fib_1618 -> Chat: small point change on the MID volume MCO
2013-10-22 17:05:14 [Message] fib_1618 -> Chat: but we also had a break above horizontal resistance on Friday
2013-10-22 17:05:24 [Message] fib_1618 -> Chat: and have now snapped back to what was this same overhead resistance
2013-10-22 17:05:33 [Message] fib_1618 -> Chat: nice looking inverted H&S looking pattern here too
2013-10-22 17:05:50 [Message] fib_1618 -> Chat: so we should see another attempt to move higher by Thursday at the latest
2013-10-22 17:06:26 [Message] fib_1618 -> Chat: note also the position of the MID volume MCSUM as it lies not only at horizontal resistance but also the +500 level
2013-10-22 17:07:05 [Message] fib_1618 -> Chat: the SML volume MCO is showing about the same kind of strength right now
2013-10-22 17:07:30 [Message] fib_1618 -> Chat: with the bulls looking for a little more conviction by the crowd
2013-10-22 17:07:48 [Message] fib_1618 -> Chat: and a small point change on the TM volume MCO
2013-10-22 17:08:27 [Message] fib_1618 -> Chat: which, overall, tells us that the amount of commitment to the current advance is about to run out of steam unless fresh funds begin to support current valuations
2013-10-22 17:08:32 [Message] fib_1618 -> Chat: so...
2013-10-22 17:08:42 [Message] fib_1618 -> Chat: breadth of market remains well and good
2013-10-22 17:08:58 [Message] fib_1618 -> Chat: but the volume side is still being very selective with the amount of cash being committed
2013-10-22 17:09:11 [Message] fib_1618 -> Chat: another way to look at it is...
2013-10-22 17:09:38 [Message] fib_1618 -> Chat: the ships in the back of the marina are getting their share of the tide
2013-10-22 17:10:01 [Message] fib_1618 -> Chat: but it's not as yet high enough to get them off their berths
2013-10-22 17:10:47 [Message] fib_1618 -> Chat: the high CVI's of Thursday were only able to give a small pull back on Monday
2013-10-22 17:11:02 [Message] fib_1618 -> Chat: suggesting that liquidity levels are quite high right now
2013-10-22 17:11:26 [Message] fib_1618 -> Chat: and this allows prices to rise as a tennis ball would in a bath tub
2013-10-22 17:11:35 [Message] thespookyone -> Chat: both volume and breadth on the XLP look VERY strong...
2013-10-22 17:12:35 [Message] fib_1618 -> Chat: STVO's remain "overbought"
2013-10-22 17:12:39 [Message] fib_1618 -> Chat: but at this point
2013-10-22 17:12:55 [Message] fib_1618 -> Chat: it might not mean much until the VTO's move to "overbought" territory as well
2013-10-22 17:13:03 [Message] fib_1618 -> Chat: that answer will come with the TRIN's
2013-10-22 17:13:26 [Message] fib_1618 -> Chat: NYsE TRIN at 1.17
2013-10-22 17:13:34 [Message] fib_1618 -> Chat: Open 10 at .95
2013-10-22 17:13:45 [Message] fib_1618 -> Chat: looks like we're back to "correcting on the fly" again
2013-10-22 17:14:00 [Message] fib_1618 -> Chat: NASDAQ TRIN at 1.22
2013-10-22 17:14:10 [Message] fib_1618 -> Chat: Open 10 at 1.10
2013-10-22 17:14:13 [Message] fib_1618 -> Chat: still "oversold"
2013-10-22 17:14:55 [Message] fib_1618 -> Chat: and that's good news for the NASDAQ breadth MCO as it suggests that we have enough pent up energy to break above the horizontal resistance levels we talked about earlier
2013-10-22 17:15:17 [Message] fib_1618 -> Chat: TM TRIN at 1.45
2013-10-22 17:15:30 [Message] fib_1618 -> Chat: Open 10 at 1.09
2013-10-22 17:15:37 [Message] fib_1618 -> Chat: so we'll call that "oversold" as well
2013-10-22 17:15:44 [Message] fib_1618 -> Chat: and between the NASDAQ and TM
2013-10-22 17:16:11 [Message] fib_1618 -> Chat: it's probably going to take us to get to "overbought" now on the VTO before this rally will find an exhaustion point
2013-10-22 17:16:13 [Message] fib_1618 -> Chat: so...
2013-10-22 17:16:24 [Message] fib_1618 -> Chat: long and strong remains the better trade here
2013-10-22 17:16:40 [Message] fib_1618 -> Chat: note that the BETS had a stellar move last week going from a +25 to a +50
2013-10-22 17:16:56 [Message] fib_1618 -> Chat: with many of the bearish configurations now being broken
2013-10-22 17:17:07 [Message] fib_1618 -> Chat: also note that Canada's TSX is streaking higher now
2013-10-22 17:17:26 [Message] fib_1618 -> Chat: and since much of their economy is based on earth resources
2013-10-22 17:17:34 [Message] fib_1618 -> Chat: this could be good news for oil and the metals
2013-10-22 17:18:47 [Message] fib_1618 -> Chat: the TSX Ventures price chart broke out to the upside yesterday as well
2013-10-22 17:18:54 [Message] fib_1618 -> Chat: with good follow though today
2013-10-22 17:19:09 [Message] fib_1618 -> Chat: so although breadth in the PM stocks remains lethargic
2013-10-22 17:19:21 [Message] fib_1618 -> Chat: there seems to be a weaker dollar play going on here
2013-10-22 17:20:09 [Message] fib_1618 -> Chat: for the record
2013-10-22 17:20:23 [Message] fib_1618 -> Chat: the TSX index is now 1825 points from its all time highs now
2013-10-22 17:20:49 [Message] fib_1618 -> Chat: or about 12%
2013-10-22 17:21:03 [Message] fib_1618 -> Chat: could be a good undervalued play there
2013-10-22 17:21:27 [Message] fib_1618 -> Chat: in fact
2013-10-22 17:21:33 [Message] fib_1618 -> Chat: aside from the 13,500 level
2013-10-22 17:21:44 [Message] fib_1618 -> Chat: there really isn't any resistance between here and there
2013-10-22 17:21:58 [Message] fib_1618 -> Chat: let me check today's BETS number
2013-10-22 17:23:04 [Message] fib_1618 -> Chat: +50
2013-10-22 17:23:17 [Message] fib_1618 -> Chat: but you really need to see what's going on in the TSX
2013-10-22 17:23:35 [Message] fib_1618 -> Chat: let's see if it translates well to the iShares
2013-10-22 17:24:03 [Message] fib_1618 -> Chat: yes, it does  - EWC
2013-10-22 17:24:13 [Message] fib_1618 -> Chat: anything else?
2013-10-22 17:25:35 [Message] fib_1618 -> Chat: so the play here remains long
2013-10-22 17:25:52 [Message] fib_1618 -> Chat: the best indicator out there under these conditions is the Parabolic SAR indicator
2013-10-22 17:26:08 [Message] fib_1618 -> Chat: as it does all the work for you as far as trailing stops are concerned
2013-10-22 17:26:18 [Message] fib_1618 -> Chat: the main point here is not to be afraid of heights
2013-10-22 17:26:46 [Message] fib_1618 -> Chat: and continue to trade the price patterns just as they would be if we weren't not even close to new highs
2013-10-22 17:27:40 [Message] fib_1618 -> Chat: hopefully everyone had time to do some homework over the weekend
2013-10-22 17:27:53 [Message] fib_1618 -> Chat: let's take a quick look at the sectors
2013-10-22 17:27:59 [Message] thespookyone -> Chat: TOO MUCH!
2013-10-22 17:28:23 [Message] fib_1618 -> Chat: materials are streaking higher now
2013-10-22 17:28:47 [Message] fib_1618 -> Chat: so it would appear that money is thinking that we're going to have continued growth here
2013-10-22 17:29:18 [Message] fib_1618 -> Chat: one last thing in which I found kind of amusing here
2013-10-22 17:29:28 [Message] fib_1618 -> Chat: I was listening to Art Cashin this morning
2013-10-22 17:29:32 [Message] fib_1618 -> Chat: and he said that...
2013-10-22 17:29:36 [Message] fib_1618 -> Chat: now you're ready for this?
2013-10-22 17:29:57 [Message] fib_1618 -> Chat: he said that the tech sector "feels like" it did in 1999/2000 right now
2013-10-22 17:30:02 [Message] fib_1618 -> Chat: and I thought to myself
2013-10-22 17:30:07 [Message] fib_1618 -> Chat: what the heck is he talking about?
2013-10-22 17:30:24 [Message] fib_1618 -> Chat: was this a comment because of what the price level was in the NASDAQ Composite
2013-10-22 17:30:30 [Message] fib_1618 -> Chat: because internally
2013-10-22 17:30:38 [Message] fib_1618 -> Chat: this is NOTHING like that time period
2013-10-22 17:31:08 [Message] fib_1618 -> Chat: so I took it as a "recognition point" than that of a probable top
2013-10-22 17:31:20 [Message] fib_1618 -> Chat: then again
2013-10-22 17:31:42 [Message] fib_1618 -> Chat: as the NASDAQ and NDX start to get closer and closer to their 2000 highs
2013-10-22 17:32:00 [Message] fib_1618 -> Chat: you can bet that we'll see all kinds of reasons why we're at an echo point
2013-10-22 17:32:17 [Message] fib_1618 -> Chat: and all kinds of charts and graphs to prove this
2013-10-22 17:32:20 [Message] fib_1618 -> Chat: but technically
2013-10-22 17:32:29 [Message] fib_1618 -> Chat: as far as money flow dynamics are concerned
2013-10-22 17:32:42 [Message] fib_1618 -> Chat: this is nothing like that time period...at least not at this particular time
2013-10-22 17:32:52 [Message] fib_1618 -> Chat: we'll see how things look as we get closer to 4250
2013-10-22 17:32:57 [Message] fib_1618 -> Chat: right?
2013-10-22 17:33:00 [Message] fib_1618 -> Chat: was it 4250?
2013-10-22 17:33:47 [Message] fib_1618 -> Chat: 5132 intraday on the NASDAQ (5049 close)
2013-10-22 17:34:06 [Message] fib_1618 -> Chat: and 4816 intraday on the NDX (4705 close)
2013-10-22 17:34:30 [Message] fib_1618 -> Chat: boy...that's still a long way from here, isn't it?
2013-10-22 17:34:38 [Message] thespookyone -> Chat: yep
2013-10-22 17:34:53 [Message] fib_1618 -> Chat: I think I'll invest in a oxygen mask [smile]
2013-10-22 17:35:01 [Message] fib_1618 -> Chat: I think I may need it
2013-10-22 17:35:07 [Message] fib_1618 -> Chat: OK...if there's nothing else
2013-10-22 17:35:09 [Message] fib_1618 -> Chat: I'm going to take off
2013-10-22 17:35:16 [Message] fib_1618 -> Chat: everyone have a great couple of days
2013-10-22 17:35:21 [Message] fib_1618 -> Chat: and we'll do this all again on Thursday
2013-10-22 17:35:23 [Message] fib_1618 -> Chat: good night

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