All donations go towards web site maintenance for all of Technical Watch,
keep it free of charge, and may be tax deductable as an investment expense.


PayPal Verified
Join our market chat sessions every Tuesday and Thursday at 4:00 pm Pacific time!
More information on subscriber services can be found at
http://www.technicalwatch.com/subs.htm




Support Technical Watch!
Buy from our Book Store!
Register Calendar Latest Topics
 
 
 


Note: This topic is locked. No new replies will be accepted.


Reply
  Author   Comment  
fib_1618

Moderator
Registered:
Posts: 4,423
Reply with quote  #1 
2008-11-11 19:00:56 [Message] fib_1618 -> Main Room: good day
2008-11-11 19:01:04 [Message] fib_1618 -> Main Room: how is everyone?
2008-11-11 19:01:14 [Message] christineesq -> Main Room: great!
2008-11-11 19:01:21 [Message] TradeMark -> Main Room: Well, what is opposite of long and strong?
2008-11-11 19:01:21 [Message] lew -> Main Room: great
2008-11-11 19:01:29 [Message] TradeMark -> Main Room: Short and weak?
2008-11-11 19:01:45 [Message] fib_1618 -> Main Room: short and stumpy?
2008-11-11 19:01:45 [Message] dave -> Main Room: awesome
2008-11-11 19:01:59 [Message] fib_1618 -> Main Room: a tip of the TW cap to Dave! nice call from last Thursday!
2008-11-11 19:02:22 [Message] dave -> Main Room: ty
2008-11-11 19:03:20 [Message] whipsaw101 -> Main Room: Hi Dave
2008-11-11 19:03:48 [Message] fib_1618 -> Main Room: OK...any questions or comments before we get started??
2008-11-11 19:04:11 [Message] TradeMark -> Main Room: So, all that are paying attention here are having good days......awesome!!
2008-11-11 19:05:16 [Message] fib_1618 -> Main Room: yes...that's what it's all about...
2008-11-11 19:06:43 [Message] dave -> Main Room: dp? those charts look awesome... not
2008-11-11 19:07:01 [Message] TradeMark -> Main Room: depends how you look at them
2008-11-11 19:07:18 [Message] dave -> Main Room: right side up
2008-11-11 19:07:29 [Message] TradeMark -> Main Room: do they tell you what you need to know?
2008-11-11 19:07:29 [Message] fib_1618 -> Main Room: well...let's take a look at them and see what we have to work with
2008-11-11 19:07:38 [Message] dave -> Main Room: i believe so
2008-11-11 19:07:44 [Message] lew -> Main Room: ditto
2008-11-11 19:07:45 [Message] TradeMark -> Main Room: there you go
2008-11-11 19:07:46 [Message] dave -> Main Room: ill wait on fib for confirm
2008-11-11 19:08:21 [Message] TradeMark -> Main Room: speaking of fibs
2008-11-11 19:08:45 [Message] TradeMark -> Main Room: you posted some charts last weekend that said there were fib targets below the charts
2008-11-11 19:08:59 [Message] TradeMark -> Main Room: but I don't see any fib targets
2008-11-11 19:09:12 [Message] fib_1618 -> Main Room: I found those longer term charts quite insightful - I hope you did to
2008-11-11 19:09:30 [Message] fib_1618 -> Main Room: lots of basic TA there
2008-11-11 19:09:38 [Message] TradeMark -> Main Room: where are the referenced fibs?
2008-11-11 19:09:58 [Message] TradeMark -> Main Room: Yes, they were very nice charts
2008-11-11 19:10:01 [Message] fib_1618 -> Main Room: Hmmm...maybe I didn't clarify enough?
2008-11-11 19:10:08 [Message] fib_1618 -> Main Room: let me get the Dow one up
2008-11-11 19:10:10 [Message] christineesq -> Main Room: the chart prices were at the fib number intervals
2008-11-11 19:10:28 [Message] TradeMark -> Main Room: huh??
2008-11-11 19:10:48 [Message] TradeMark -> Main Room: the grid lines on the chart you mean?
2008-11-11 19:10:49 [Message] fib_1618 -> Main Room: http://www.technicalwatch.com/forum08/ltdow110708.gif
2008-11-11 19:11:09 [Message] fib_1618 -> Main Room: the chart is broken down in increments of 1300 points
2008-11-11 19:11:17 [Message] fib_1618 -> Main Room: 13 being a Fibonacci number
2008-11-11 19:11:49 [Message] TradeMark -> Main Room: So, those are the fib targets?
2008-11-11 19:11:53 [Message] fib_1618 -> Main Room: and if you look closely, you will see that each one of those increments provided "magnet points" to the price pattern
2008-11-11 19:11:55 [Message] fib_1618 -> Main Room: no - they are just incremental points on the chart
2008-11-11 19:12:33 [Message] fib_1618 -> Main Room: look at the 1998-2002 period and you will see how the Dow found approximate resistance and support at these 1300 point increments
2008-11-11 19:13:08 [Message] fib_1618 -> Main Room: then if you take a further step back, you will see how the price pattern either found support or resistance points at these same incremental price levels
2008-11-11 19:13:46 [Message] fib_1618 -> Main Room: this is why I referred them as magnets
2008-11-11 19:14:18 [Message] fib_1618 -> Main Room: and how I was able to get some of the upside objectives over the last several years with the Dow at all time highs (the secret is revealed)
2008-11-11 19:14:37 [Message] TradeMark -> Main Room: So, they don't seem to have much effect on the way down
2008-11-11 19:14:50 [Message] TradeMark -> Main Room: at least not yet
2008-11-11 19:16:03 [Message] TradeMark -> Main Room: OK, some chop around 11,700
2008-11-11 19:16:24 [Message] fib_1618 -> Main Room: well...we pulled up short of 14,300
2008-11-11 19:16:37 [Message] fib_1618 -> Main Room: on the way down...11,700 - we bounced
2008-11-11 19:17:00 [Message] fib_1618 -> Main Room: snapped back to 13,000
2008-11-11 19:17:07 [Message] fib_1618 -> Main Room: broke trend
2008-11-11 19:17:20 [Message] fib_1618 -> Main Room: snapped back to 11,700
2008-11-11 19:17:40 [Message] TradeMark -> Main Room: then floor fell out
2008-11-11 19:17:41 [Message] fib_1618 -> Main Room: and attempted to find support at 9100 after the crash
2008-11-11 19:18:28 [Message] fib_1618 -> Main Room: you will also see that we tried to hold 10,400 for a couple of days
2008-11-11 19:18:33 [Message] fib_1618 -> Main Room: and, yes, then the bottom fell out
2008-11-11 19:18:46 [Message] fib_1618 -> Main Room: so...they seem to be working
2008-11-11 19:18:56 [Message] fib_1618 -> Main Room: taking it one step further for fun
2008-11-11 19:18:57 [Message] dave -> Main Room: hmmm, lots of talk about fib 13 tonight, i wonder if thats the ema from thursday
2008-11-11 19:18:59 [Message] dave -> Main Room: lol
2008-11-11 19:19:24 [Message] fib_1618 -> Main Room: - I'll never tell
2008-11-11 19:19:50 [Message] TradeMark -> Main Room: try, 13...it a nice number dave
2008-11-11 19:19:55 [Message] fib_1618 -> Main Room: we have measuring gap objectives on the Dow of 7263 and 6202
2008-11-11 19:20:10 [Message] fib_1618 -> Main Room: both of these numbers are below the numbers seen on the chart
2008-11-11 19:20:34 [Message] dave -> Main Room: 6500 seems to fit in the middle
2008-11-11 19:20:42 [Message] fib_1618 -> Main Room: but like the 9100 level, the "elastics" of the market will probably keep the price action in check in and around these same levels
2008-11-11 19:20:45 [Message] TradeMark -> Main Room: So, can't happen, not one of the lines
2008-11-11 19:21:12 [Message] fib_1618 -> Main Room: 6200 is also approximately where the longer term rising bottoms line intersects
2008-11-11 19:21:25 [Message] fib_1618 -> Main Room: I don't follow Mark
2008-11-11 19:21:29 [Message] fib_1618 -> Main Room: what can't happen?
2008-11-11 19:22:06 [Message] TradeMark -> Main Room: measuring gap numbers
2008-11-11 19:22:13 [Message] fib_1618 -> Main Room: sure they can
2008-11-11 19:22:17 [Message] fib_1618 -> Main Room: think back to mid October in relation to this chart
2008-11-11 19:22:18 [Message] dave -> Main Room: what ya think fib, Tuesday a week from today fits with that number
2008-11-11 19:22:30 [Message] TradeMark -> Main Room: Well, my point was they aren't lines
2008-11-11 19:22:49 [Message] fib_1618 -> Main Room: the Dow over extended, but remained within the confines of this same 9100 level
2008-11-11 19:22:59 [Message] fib_1618 -> Main Room: they're just increments of price
2008-11-11 19:23:15 [Message] fib_1618 -> Main Room: using the number 13, in this case
2008-11-11 19:23:29 [Message] fib_1618 -> Main Room: the SPX seems to square up well with the number 8, the NYA with 5, and the NASDAQ with 3
2008-11-11 19:24:04 [Message] fib_1618 -> Main Room: it's more in the context of "order"
2008-11-11 19:24:13 [Message] fib_1618 -> Main Room: just another angle for perspective
2008-11-11 19:24:28 [Message] fib_1618 -> Main Room: OK...now that we've beaten that horse
2008-11-11 19:24:37 [Message] fib_1618 -> Main Room: let's see what DP has to show us
2008-11-11 19:24:44 [Message] TradeMark -> Main Room: still a nice chart - thanks
2008-11-11 19:24:56 [Message] dave -> Main Room: dp going to be fun tonight
2008-11-11 19:25:00 [Message] fib_1618 -> Main Room: sure
2008-11-11 19:25:03 [Message] dave -> Main Room: lots to discuss
2008-11-11 19:26:27 [Message] fib_1618 -> Main Room: after snapping back to or towards its zero line on Thursday, the CO NYSE breadth MCO did indeed bounce higher on Friday, tried to hold above the zero line on Monday, and moved back below the zero line today
2008-11-11 19:27:01 [Message] fib_1618 -> Main Room: given that the components of this MCO are still below their zero line, a new sell signal was given today
2008-11-11 19:27:23 [Message] fib_1618 -> Main Room: however, bottoms above bottoms still control the near term pattern
2008-11-11 19:27:58 [Message] fib_1618 -> Main Room: and taking ruler to monitor, we also remain above the rising bottoms line from the October lows
2008-11-11 19:28:23 [Message] fib_1618 -> Main Room: so, the next technical expectation would be for the MCO to now snapback up to the zero line again
2008-11-11 19:28:44 [Message] fib_1618 -> Main Room: and from there we'll start to get a real feel of things at least for the next 2 weeks
2008-11-11 19:29:11 [Message] fib_1618 -> Main Room: we also had lower price lows today confirming this new sell signal
2008-11-11 19:29:34 [Message] fib_1618 -> Main Room: and looking at the CO NYSE breadth MCSUM, we're now starting to curl lower just above the first resistance area of the ledge formation talked about last week
2008-11-11 19:30:40 [Message] fib_1618 -> Main Room: in fact, watching the action today, you can see the battle going on right now between both sides
2008-11-11 19:31:05 [Message] dave -> Main Room: dave, on the mcsum, for the co nyse, how do we determine if it is or is not an inverted ledge?
2008-11-11 19:31:19 [Message] fib_1618 -> Main Room: as we started off weak - didn't find any company to propel the move lower - short covering entered after lunch time - no follow through on that - and then we sagged into the close
2008-11-11 19:31:33 [Message] fib_1618 -> Main Room: ledges are made to fall off of
2008-11-11 19:31:49 [Message] dave -> Main Room: referring to todays print on the mcsum
2008-11-11 19:31:50 [Message] fib_1618 -> Main Room: so the MCSUM will decline, and will attempt to stabilize
2008-11-11 19:32:04 [Message] fib_1618 -> Main Room: oh, gotcha
2008-11-11 19:32:20 [Message] dave -> Main Room: one of inverted ledge, whether it is or isn't and how to determine
2008-11-11 19:32:35 [Message] fib_1618 -> Main Room: well, it has a lot to do with the direction of the A/D line prior to these points of pause or hesitation
2008-11-11 19:32:46 [Message] fib_1618 -> Main Room: the key to ledges is that they form prior to the final outcome of the current direction of trend
2008-11-11 19:33:30 [Message] fib_1618 -> Main Room: with only a couple of weeks behind this latest advance, it's not likely that a inverted ledge would be forming
2008-11-11 19:33:49 [Message] dave -> Main Room: cool, didn't "feel" like one, just wanted to make sure
2008-11-11 19:34:16 [Message] fib_1618 -> Main Room: and given that we have several areas of potential MCSUM resistance points, it's more in the vein of trying too hard and exhausting oneself in the process...like the sprinting marathoner
2008-11-11 19:34:36 [Message] dave -> Main Room: second hill of the marathon for the runner on mile 1 1/2
2008-11-11 19:34:40 [Message] fib_1618 -> Main Room: there you go
2008-11-11 19:35:23 [Message] fib_1618 -> Main Room: compare today's "look" to that of the July/August period and you'll get the idea
2008-11-11 19:35:48 [Message] fib_1618 -> Main Room: OK...now we're getting somewhere
2008-11-11 19:36:06 [Message] fib_1618 -> Main Room: the composite NYSE breadth MCO has now fully retraced back down to its zero line now and we should now be looking for the obligatory bounce off this same zero line
2008-11-11 19:36:38 [Message] fib_1618 -> Main Room: while at the same time, the CO MCO will snapback to its zero line
2008-11-11 19:36:54 [Message] fib_1618 -> Main Room: so...it's very likely that we're going to get a bounce on Wednesday, but if we don't, this would also tell an important story in that the bounce last week is all we're going to get, and we move aggressively lower from here
2008-11-11 19:37:19 [Message] fib_1618 -> Main Room: looking at the composite MCO components, and here too, a bounce is indicated as the 10% and the 5% have met
2008-11-11 19:37:58 [Message] fib_1618 -> Main Room: looking at the composite NYSE breadth MCSUM, the pattern is now moving sideways as it has now come up to its Gap Resistance area which should provide a natural wall of any further add ons by the bulls
2008-11-11 19:39:15 [Message] fib_1618 -> Main Room: this would then suggest that though we might have a price bounce on Wednesday, breadth plurality is probably going to be on the anemic side
2008-11-11 19:39:30 [Message] fib_1618 -> Main Room: which could also provide a small point change in the process
2008-11-11 19:39:38 [Message] fib_1618 -> Main Room: let me check the numbers on that - one moment
2008-11-11 19:39:38 [Message] dave -> Main Room: looks like the typical thurs, fri, monday, tuesday reversal bottom for us
2008-11-11 19:39:57 [Message] dave -> Main Room: minute 5 on tues open - complete
2008-11-11 19:40:46 [Message] fib_1618 -> Main Room: a -370 is needed on the traditional NYSE MCO for a zero point change for tomorrow
2008-11-11 19:41:30 [Message] fib_1618 -> Main Room: so - any breadth plurality numbers within 400 points of flat will probably give us a small point change tomorrow
2008-11-11 19:41:40 [Message] fib_1618 -> Main Room: something to watch for
2008-11-11 19:42:20 [Message] fib_1618 -> Main Room: we have also fully snapped back to the zero line now on the NASDAQ breadth MCO with a small sell signal generated in the process
2008-11-11 19:43:06 [Message] fib_1618 -> Main Room: hmmmm...
2008-11-11 19:43:25 [Message] fib_1618 -> Main Room: for you Elliottican's out there
2008-11-11 19:43:34 [Message] dave -> Main Room: why yes dave?
2008-11-11 19:43:37 [Message] fib_1618 -> Main Room: this could be wave "D" on the daily chart
2008-11-11 19:43:48 [Message] fib_1618 -> Main Room: of the triangle we've been talking about from the October lows?
2008-11-11 19:44:02 [Message] fib_1618 -> Main Room:
2008-11-11 19:44:09 [Message] lew -> Main Room: Y
2008-11-11 19:44:14 [Message] fib_1618 -> Main Room: funny
2008-11-11 19:44:38 [Message] fib_1618 -> Main Room: "A" up was the 900 point advance on the Dow
2008-11-11 19:44:46 [Message] fib_1618 -> Main Room: the lower low was wave "B"
2008-11-11 19:44:50 [Message] dave -> Main Room: perhaps, looking at the chart of the euro, there is nice coincidence with market, and the euro broke down of a sym triangle, having put up abcde and broke down
2008-11-11 19:44:51 [Message] fib_1618 -> Main Room: just finished "C" up
2008-11-11 19:45:04 [Message] fib_1618 -> Main Room: down to "D" - up to "E" to finish off?
2008-11-11 19:45:12 [Message] lew -> Main Room: Y
2008-11-11 19:45:34 [Message] fib_1618 -> Main Room: well...we kind of hinted that this pause could take time
2008-11-11 19:45:51 [Message] dave -> Main Room: i think thats the bullish case
2008-11-11 19:45:53 [Message] denleo -> Main Room: what about the sell signal and up to "E" at the same time?
2008-11-11 19:45:57 [Message] fib_1618 -> Main Room: as other crash like events like this usually took 4-6 weeks before we saw the final bottom
2008-11-11 19:46:18 [Message] fib_1618 -> Main Room: the "sell signal" would be a warning
2008-11-11 19:46:20 [Message] dave -> Main Room: speaking Elliott wise, this is not the final bottom, just minute 5
2008-11-11 19:46:26 [Message] fib_1618 -> Main Room: with the MCO now at its zero line
2008-11-11 19:46:29 [Message] lew -> Main Room: "D" in the 850-870 area, maybe?
2008-11-11 19:46:47 [Message] fib_1618 -> Main Room: a bounce here would be within target of a typical "E" wave event
2008-11-11 19:46:52 [Message] fib_1618 -> Main Room: maybe
2008-11-11 19:46:58 [Message] fib_1618 -> Main Room: what I did notice today is that prior to the market rallying in the afternoon
2008-11-11 19:47:29 [Message] fib_1618 -> Main Room: the 5 minute chart was showing the same price pattern structure as it did prior to the end of October advance to SPX 1005
2008-11-11 19:47:44 [Message] fib_1618 -> Main Room: so...taking this thought out one step further
2008-11-11 19:48:20 [Message] fib_1618 -> Main Room: the rally in the afternoon today may have been a smaller wave "a" - the decline into the close wave "b" - and then "c" up tomorrow to finish it off on the daily
2008-11-11 19:48:29 [Message] hiker -> Main Room: "dave"...see the monthly SPX chart update at the end of the top thread in "hiker's habitat", fwiw
2008-11-11 19:48:30 [Message] fib_1618 -> Main Room: and that would finish off the triangle
2008-11-11 19:48:56 [Message] denleo -> Main Room: 930ish and then down to new lows?
2008-11-11 19:49:28 [Message] dave -> Main Room: from my experience, e's in this type of chart come up shallow of the descending line quite often
2008-11-11 19:49:54 [Message] dave -> Main Room: this market is reeking of imminent capitulation
2008-11-11 19:50:06 [Message] dave -> Main Room: thinking it starts on Thursday
2008-11-11 19:51:46 [Message] fib_1618 -> Main Room: Dennis...might be...
2008-11-11 19:52:03 [Message] fib_1618 -> Main Room: did you folks also notice that we again bounce off the 899 level on the SPX?
2008-11-11 19:52:28 [Message] dave -> Main Room: yes, but we also closed on it
2008-11-11 19:52:34 [Message] dave -> Main Room: could be hop the creek as well
2008-11-11 19:52:59 [Message] fib_1618 -> Main Room: and Dave...with the news events of the last couple of days, it would seem many are getting twitching feelings right now - agreed
2008-11-11 19:53:34 [Message] fib_1618 -> Main Room: in any event...just something to throw out there that might all be working together right now
2008-11-11 19:54:03 [Message] dave -> Main Room: this bounce today, was on the news of the homeowner bailout plan
2008-11-11 19:54:08 [Message] fib_1618 -> Main Room: the NDX breadth MCO also continued below the zero line today
2008-11-11 19:54:39 [Message] dave -> Main Room: funny how these fed bailouts lasted for 2 months when they started last year, and have steadily declined to where now a bailout causes a 20 minute rally on the market
2008-11-11 19:54:48 [Message] fib_1618 -> Main Room: and it was here, after Monday's trading, that we had an idea that lower lows were going to come about today because of the fact that this MCO broke below its prior lows
2008-11-11 19:55:10 [Message] fib_1618 -> Main Room: these bailouts will doom us as a power
2008-11-11 19:55:19 [Message] fib_1618 -> Main Room: and the world knows it; the new government knows it too
2008-11-11 19:55:59 [Message] fib_1618 -> Main Room: they have a vested interest it would seem in reaching this goal
2008-11-11 19:56:01 [Message] dave -> Main Room: well, the rest of the world is bailing out too, they just started later
2008-11-11 19:56:09 [Message] dave -> Main Room: something to think about
2008-11-11 19:56:25 [Message] dave -> Main Room: we were alone for a year
2008-11-11 19:56:28 [Message] dave -> Main Room: now not alone
2008-11-11 19:56:30 [Message] lew -> Main Room: Y, Europe will bail hard as well
2008-11-11 19:56:31 [Message] fib_1618 -> Main Room: yes, I know, we're a global community now, aren't we?
2008-11-11 19:56:39 [Message] dave -> Main Room: china bailout
2008-11-11 19:56:42 [Message] dave -> Main Room: whoda thunk it
2008-11-11 19:56:43 [Message] fib_1618 -> Main Room: the "United Federation of Countries"
2008-11-11 19:56:49 [Message] dave -> Main Room: growing at 9% and they need a stimulation package?
2008-11-11 19:56:58 [Message] dave -> Main Room: what gives?
2008-11-11 19:57:04 [Message] fib_1618 -> Main Room:
2008-11-11 19:57:06 [Message] dave -> Main Room: maybe they not growing as fast as reported
2008-11-11 19:57:07 [Message] fib_1618 -> Main Room: you know what gives
2008-11-11 19:57:19 [Message] fib_1618 -> Main Room: what...? the Chinese lying?
2008-11-11 19:57:25 [Message] fib_1618 -> Main Room: say it ain't so
2008-11-11 19:57:30 [Message] lew -> Main Room: lol
2008-11-11 19:57:45 [Message] fib_1618 -> Main Room: let's move on
2008-11-11 19:58:15 [Message] fib_1618 -> Main Room: the SPX breadth MCO also generated a renewed sell signal today
2008-11-11 19:58:44 [Message] fib_1618 -> Main Room: and, looky here, this is all taking place right at the point of our ledge formation seen on the SPX breadth MCSUM (no less the -1250 level)
2008-11-11 19:59:14 [Message] fib_1618 -> Main Room: still a weak marketplace and still not showing any kind of vigor at this juncture
2008-11-11 19:59:47 [Message] fib_1618 -> Main Room: lower lows on the OEX breadth MCO with the OEX breadth MCSUM also finding rejection at the -1250 level
2008-11-11 20:00:16 [Message] dave -> Main Room: i was looking forward to you getting past the nyse commons and traditional, b/c they look the best of all charts, the rest of this stuff is ugly
2008-11-11 20:00:25 [Message] dave -> Main Room: iwm was most interesting today
2008-11-11 20:00:46 [Message] fib_1618 -> Main Room: well...the cream stocks have been weak all along
2008-11-11 20:01:00 [Message] fib_1618 -> Main Room: still a lot of "heaviness" here to be sure
2008-11-11 20:01:08 [Message] dave -> Main Room: dave, you follow the iwm on the 5 min today?
2008-11-11 20:01:19 [Message] fib_1618 -> Main Room: no...don't have the time to do so
2008-11-11 20:01:27 [Message] fib_1618 -> Main Room: I'm only looking at whatever I'm trading
2008-11-11 20:01:34 [Message] fib_1618 -> Main Room: well..skimming
2008-11-11 20:01:47 [Message] dave -> Main Room: outperformed all day, to where it was up 1 % when the Dow almost made it to flat line, then tanked and closed at or near lows, while rest of market closed well off the lows
2008-11-11 20:02:01 [Message] fib_1618 -> Main Room: that I saw
2008-11-11 20:02:11 [Message] dave -> Main Room: sneaky
2008-11-11 20:02:14 [Message] fib_1618 -> Main Room: saw that the SML was very weak
2008-11-11 20:02:21 [Message] fib_1618 -> Main Room: yes...stealthy
2008-11-11 20:02:29 [Message] fib_1618 -> Main Room: bears are like that
2008-11-11 20:02:36 [Message] fib_1618 -> Main Room: "slight of paw"
2008-11-11 20:02:37 [Message] dave -> Main Room: b/c it really was outperforming all day
2008-11-11 20:02:49 [Message] fib_1618 -> Main Room: still a battle going on
2008-11-11 20:03:02 [Message] fib_1618 -> Main Room: even more so when we see the MCO at or near the zero line
2008-11-11 20:03:21 [Message] dave -> Main Room: and the 10, passed the 5
2008-11-11 20:03:21 [Message] fib_1618 -> Main Room: lower lows on the Dow breadth MCO
2008-11-11 20:03:38 [Message] fib_1618 -> Main Room: and the Dow breadth MCSUM is also finding ledge resistance
2008-11-11 20:03:57 [Message] fib_1618 -> Main Room: same thing with the MID data
2008-11-11 20:04:23 [Message] fib_1618 -> Main Room: with the SML data still the weakest area of the market right now
2008-11-11 20:04:30 [Message] dave -> Main Room: bingo
2008-11-11 20:05:03 [Message] fib_1618 -> Main Room: we know this by the comparable levels of the ledge formations on the previous data charts
2008-11-11 20:05:25 [Message] fib_1618 -> Main Room: this would also suggest that liquidity is lacking...that any monies being offered are moving into other areas to shore up the levees on this same river
2008-11-11 20:05:57 [Message] dave -> Main Room: very telling that the market sold off two days in a row on perceived good news
2008-11-11 20:06:16 [Message] fib_1618 -> Main Room: news right now is only an excuse - something we touched upon last Tuesday
2008-11-11 20:06:29 [Message] dave -> Main Room: when it was just a few days ago that the market wouldn't go down on bad news
2008-11-11 20:06:48 [Message] dave -> Main Room: something brewing here big time, feels imminent
2008-11-11 20:06:57 [Message] fib_1618 -> Main Room: was how everyone decided that what caused the technical breakdown to begin with was not being paid attention to...that the elections gave the markets a rest
2008-11-11 20:07:12 [Message] fib_1618 -> Main Room: well...that would fit with the triangle idea mentioned above being that it's a pattern of indecision
2008-11-11 20:07:33 [Message] fib_1618 -> Main Room: and that good news means down and bad news means up
2008-11-11 20:07:45 [Message] dave -> Main Room: dave, a friend of mine told me about delta hedge meltdown, are you familiar?
2008-11-11 20:07:47 [Message] fib_1618 -> Main Room: and where the word "churning" gets its roots
2008-11-11 20:08:06 [Message] fib_1618 -> Main Room: I'm aware of the concept, yes
2008-11-11 20:08:22 [Message] dave -> Main Room: opex a week and a half away and tomorrow is wacky Wednesday
2008-11-11 20:08:35 [Message] fib_1618 -> Main Room: so I've heard!
2008-11-11 20:08:49 [Message] dave -> Main Room: lots of tv personalities, recommended writing out of the money puts
2008-11-11 20:08:57 [Message] fib_1618 -> Main Room: and many option players usually go for the November strike prices
2008-11-11 20:09:06 [Message] dave -> Main Room: so if they get filled, they have good stocks and low prices
2008-11-11 20:09:12 [Message] dave -> Main Room: even my buddy art
2008-11-11 20:09:42 [Message] dave -> Main Room: i bet there is more rookie put writing then ever before
2008-11-11 20:09:48 [Message] fib_1618 -> Main Room: naw...
2008-11-11 20:09:55 [Message] fib_1618 -> Main Room: more like rookie put buying
2008-11-11 20:10:16 [Message] fib_1618 -> Main Room: the writing of options is something in which you have to learn how to do
2008-11-11 20:10:34 [Message] fib_1618 -> Main Room: and you have to have a certain amount of discipline in doing so...rookies don't have that - they're impatient
2008-11-11 20:10:42 [Message] dave -> Main Room: my father and the guys money who i manage are the best counter indicators, and they both think we are "near" the bottom, one of them (not my dad), went long today on uyg
2008-11-11 20:10:47 [Message] dave -> Main Room: that's confirmation
2008-11-11 20:10:56 [Message] fib_1618 -> Main Room: we'll see
2008-11-11 20:11:10 [Message] fib_1618 -> Main Room: all I know is that there's a lot of work still yet to do before we can set a bottom
2008-11-11 20:13:05 [Message] TradeMark -> Main Room: what kind of indicator is the bottom is near crowd. contrary? or otherwise?
2008-11-11 20:14:33 [Message] fib_1618 -> Main Room: under the assumption that we have still have an Elliott 5th wave coming
2008-11-11 20:14:55 [Message] fib_1618 -> Main Room: there will be several areas that will should look for as far as a wash out
2008-11-11 20:15:03 [Message] fib_1618 -> Main Room: most of this will be news related
2008-11-11 20:15:21 [Message] fib_1618 -> Main Room: a bankruptcy of a high profile company, for example
2008-11-11 20:15:31 [Message] fib_1618 -> Main Room: but technically, our attention turns to the TRIN
2008-11-11 20:15:47 [Message] fib_1618 -> Main Room: this will be the indicator of choice
2008-11-11 20:16:13 [Message] fib_1618 -> Main Room: and this will all have to work with the other data
2008-11-11 20:16:18 [Message] fib_1618 -> Main Room: for example...
2008-11-11 20:16:24 [Message] fib_1618 -> Main Room: divergences in the MCO
2008-11-11 20:16:40 [Message] fib_1618 -> Main Room: divergences in the MCSUM, but this is not entirely necessary under current conditions
2008-11-11 20:16:53 [Message] fib_1618 -> Main Room: if history is any indication, we should see back to back 3.0 (or higher) readings in the NYSE TRIN
2008-11-11 20:17:25 [Message] fib_1618 -> Main Room: but the key will be the 10 day average - the Open 10
2008-11-11 20:17:38 [Message] fib_1618 -> Main Room: no one will want stocks
2008-11-11 20:17:53 [Message] fib_1618 -> Main Room: the very existence of trading stocks will be called into question (in relation to comparable investment vehicles)
2008-11-11 20:18:31 [Message] fib_1618 -> Main Room: we saw a little of this with the first bottom which was a 5th wave of a smaller degree of what's up and coming
2008-11-11 20:19:01 [Message] fib_1618 -> Main Room: each degree of trend, therefore, will have it's own set of alarms that will go off
2008-11-11 20:19:17 [Message] fib_1618 -> Main Room: some will sound distant, but the bigger the degree, the louder the bell, and the more encompassing it will be
2008-11-11 20:19:56 [Message] fib_1618 -> Main Room: take, for example, the morning crew at CNBC as they have a marked difference in their tone in the last week
2008-11-11 20:20:39 [Message] fib_1618 -> Main Room: and this was after many had this "chicken little" mentality (which crashes create)
2008-11-11 20:21:10 [Message] fib_1618 -> Main Room: but like we've been talking about now for the last month
2008-11-11 20:21:53 [Message] fib_1618 -> Main Room: the technical damage that was created in the beginning of October is going to take a long time in finding some sort of foundation again in which to stabilize, and then rally off of
2008-11-11 20:22:34 [Message] fib_1618 -> Main Room: taking a quick scan at the volume MCO data, and we continue to see a great deal of weakness in this area
2008-11-11 20:23:13 [Message] fib_1618 -> Main Room: I'll put it another way
2008-11-11 20:23:48 [Message] fib_1618 -> Main Room: 99% of the masses out there won't be in any position to acknowledge the ultimate low until it's well behind us
2008-11-11 20:24:03 [Message] fib_1618 -> Main Room: traders won't be picking bottoms, they will be shorting pauses
2008-11-11 20:24:19 [Message] fib_1618 -> Main Room: and I personally don't see this going on right now
2008-11-11 20:24:26 [Message] fib_1618 -> Main Room: in fact
2008-11-11 20:25:02 [Message] fib_1618 -> Main Room: we talked briefly 2 weeks ago about all of the staunch bears of the last several years have all of sudden know that a bottom had been created 3 weeks ago
2008-11-11 20:25:41 [Message] fib_1618 -> Main Room: that they would be accumulating stock - OR - we're continuing to add to those positions as the market moved higher in it's reflex from the crash lows
2008-11-11 20:25:54 [Message] fib_1618 -> Main Room: and now...instead of rethinking this idea...they are buying dips - using every "news event" to help build their bullish case
2008-11-11 20:26:06 [Message] TradeMark -> Main Room: Many bears still saying that......doing that
2008-11-11 20:26:33 [Message] fib_1618 -> Main Room: until we can get these same thinkers back into bear mode...we're going to continue to drift lower...if not, plow lower, to convince them that they were wrong
2008-11-11 20:26:39 [Message] fib_1618 -> Main Room: correct TM
2008-11-11 20:26:43 [Message] fib_1618 -> Main Room: and until that changes
2008-11-11 20:26:47 [Message] fib_1618 -> Main Room: the trend is down
2008-11-11 20:26:53 [Message] fib_1618 -> Main Room: and the bear is sneaky
2008-11-11 20:26:56 [Message] fib_1618 -> Main Room: wily
2008-11-11 20:27:00 [Message] fib_1618 -> Main Room: stealth
2008-11-11 20:27:17 [Message] fib_1618 -> Main Room: you think you're in the clear, and then...POUNCE
2008-11-11 20:27:18 [Message] TradeMark -> Main Room: Large teeth
2008-11-11 20:27:24 [Message] fib_1618 -> Main Room: and paws to match
2008-11-11 20:27:53 [Message] fib_1618 -> Main Room: in the meantime, it's the markets job to keep those on the fence guessing
2008-11-11 20:28:14 [Message] fib_1618 -> Main Room: no matter which direction
2008-11-11 20:28:29 [Message] fib_1618 -> Main Room: and that's why indecision patterns are a "bear" to trade
2008-11-11 20:31:52 [Message] fib_1618 -> Main Room: anyway...a quick review of the volume McClellan data pretty well tells all of us that we have a long ways to go before we see a rally that would be otherwise classified as "reflex" or "relief"
2008-11-11 20:32:22 [Message] fib_1618 -> Main Room: absolutely no power from the bull side as yet
2008-11-11 20:32:51 [Message] fib_1618 -> Main Room: and if the market isn't careful, our "runner" might have another attack coming fairly soon
2008-11-11 20:33:49 [Message] fib_1618 -> Main Room: helping us out on the idea of a bounce tomorrow
2008-11-11 20:34:06 [Message] fib_1618 -> Main Room: we now have the CVI's all suggesting that a turn higher near term should be seen
2008-11-11 20:34:19 [Message] fib_1618 -> Main Room: and the STVO's are now deemed as "oversold"
2008-11-11 20:34:43 [Message] fib_1618 -> Main Room: with the VTO's continue to show lackluster performance
2008-11-11 20:34:57 [Message] dave -> Main Room: dave, you think minute 5 will be on its way, or over by opex?
2008-11-11 20:35:05 [Message] denleo -> Main Room: If there is a bounce or wave "E", what is your expectation as far as price target is concerned?
2008-11-11 20:35:07 [Message] fib_1618 -> Main Room: so, in this area, it's been more of a bigger pause after a complete melt down than anything else
2008-11-11 20:35:32 [Message] fib_1618 -> Main Room: maybe someone has those figures for denleo?
2008-11-11 20:35:57 [Message] fib_1618 -> Main Room: if not...the measurement would be a retracement of .618 of the previous downtrend
2008-11-11 20:36:22 [Message] fib_1618 -> Main Room: and it will FEEL more important than it is
2008-11-11 20:36:33 [Message] fib_1618 -> Main Room: wave "E"'s are sucker bets
2008-11-11 20:36:46 [Message] dave -> Main Room: that would suggest about 65 pts or so on spx
2008-11-11 20:36:53 [Message] denleo -> Main Room: right around 950 - 960
2008-11-11 20:36:56 [Message] dave -> Main Room: as d was a few more than 100 down
2008-11-11 20:37:05 [Message] fib_1618 -> Main Room: as they "suck in" the majority before the reversal back into the prevailing trend
2008-11-11 20:37:28 [Message] fib_1618 -> Main Room: everyone will "FEEL" that a bottom is done
2008-11-11 20:37:33 [Message] dave -> Main Room: dave, is it your experience, that e's in this pattern come up short frequently?
2008-11-11 20:37:43 [Message] fib_1618 -> Main Room: everyone will "FEEL" that the worst is behind us
2008-11-11 20:37:54 [Message] fib_1618 -> Main Room: about 50/50 dave
2008-11-11 20:38:02 [Message] fib_1618 -> Main Room: it all depends on the underlying market dynamics
2008-11-11 20:38:14 [Message] dave -> Main Room: b/c most feel that bottom is done, they say so, its a matter of the retest
2008-11-11 20:38:21 [Message] fib_1618 -> Main Room: it also depends which index is ringing the bell, so to speak, and its component weighting
2008-11-11 20:38:30 [Message] dave -> Main Room: and with the real estate issue all better now b/c of the fed
2008-11-11 20:38:31 [Message] fib_1618 -> Main Room: how many retests do we need?
2008-11-11 20:38:40 [Message] fib_1618 -> Main Room: so far...we've had two
2008-11-11 20:38:47 [Message] dave -> Main Room: and thats what "caused" it in the first place
2008-11-11 20:38:51 [Message] fib_1618 -> Main Room: yes
2008-11-11 20:38:52 [Message] dave -> Main Room: so they say
2008-11-11 20:39:03 [Message] fib_1618 -> Main Room: and just like we talked about when the AIG bailout took place
2008-11-11 20:39:06 [Message] dave -> Main Room: never mind the 30 to 1 leverage being the real cause
2008-11-11 20:39:18 [Message] fib_1618 -> Main Room: it was a far bigger problem than what "they thought"... it's more than that now
2008-11-11 20:39:19 [Message] dave -> Main Room: it was the subprime slime, and now its fixed
2008-11-11 20:39:31 [Message] dave -> Main Room: but why didn't we go up today?
2008-11-11 20:41:05 [Message] dave -> Main Room: we can stay in our houses, but can't pay our car bills, credit card bills, utility bills, and we just lost our job
2008-11-11 20:41:20 [Message] fib_1618 -> Main Room: yup...we have a long way to go
2008-11-11 20:41:23 [Message] fib_1618 -> Main Room: because...
2008-11-11 20:41:40 [Message] fib_1618 -> Main Room: what's happening now won't be directly in our everyday lives for another 3-4 months
2008-11-11 20:41:56 [Message] fib_1618 -> Main Room: we won't feel the effects of the ripples
2008-11-11 20:42:14 [Message] dave -> Main Room: perhaps they get that one more pop to "e", but this capitulation is so real and soon i can taste it
2008-11-11 20:42:26 [Message] fib_1618 -> Main Room: sort of like an Earthquake under the ocean...and not seeing the Tsunami hit the beaches for a couple of hours
2008-11-11 20:42:33 [Message] dave -> Main Room: tastes like poo, but i can taste it
2008-11-11 20:42:57 [Message] fib_1618 -> Main Room: well, you've been pretty well on the mark over the last couple of months
2008-11-11 20:43:06 [Message] dave -> Main Room: ty
2008-11-11 20:43:07 [Message] fib_1618 -> Main Room: but looking at the technical side of things
2008-11-11 20:43:18 [Message] lew -> Main Room: so, it won't be in our lives till the women are wearing the "funeral wear"? lol
2008-11-11 20:43:25 [Message] fib_1618 -> Main Room: you have enough evidence here that the market remains very vulnerable to "something"
2008-11-11 20:43:33 [Message] fib_1618 -> Main Room: lol
2008-11-11 20:43:37 [Message] fib_1618 -> Main Room: oh yes...
2008-11-11 20:43:38 [Message] fib_1618 -> Main Room: in fact
2008-11-11 20:43:52 [Message] fib_1618 -> Main Room: much of spring fashion is showing dark colors
2008-11-11 20:44:09 [Message] lew -> Main Room: that stuff was brutal
2008-11-11 20:44:13 [Message] dave -> Main Room: and this being the first wave 3 of significance (minor 3), this is the end of 3 of 3
2008-11-11 20:44:16 [Message] fib_1618 -> Main Room: and instead of equal amounts of black and white like we saw before the 2002 lows
2008-11-11 20:44:17 [Message] dave -> Main Room: this going to be brutal
2008-11-11 20:44:27 [Message] fib_1618 -> Main Room: now we're seeing dark colors with only "touches of light"
2008-11-11 20:44:52 [Message] fib_1618 -> Main Room: so the mood next spring is going to be quite negative
2008-11-11 20:45:02 [Message] TradeMark -> Main Room: Are dark fashions before or after the capitulation?
2008-11-11 20:45:06 [Message] fib_1618 -> Main Room: but you can bet that the media will find ways to cheer us up
2008-11-11 20:45:16 [Message] fib_1618 -> Main Room: remember that fashion is forward looking
2008-11-11 20:45:31 [Message] fib_1618 -> Main Room: the link I provided a couple of weeks ago was that of Spring 2009 which doesn't go into the stores until late February, and moves on by Mid May...so fashion anticipates mood change
2008-11-11 20:54:24 [Message] fib_1618 -> Main Room: NYSE TRIN at 1.44
2008-11-11 20:54:34 [Message] fib_1618 -> Main Room: Open 10 at 1.09
2008-11-11 20:56:21 [Message] fib_1618 -> Main Room: NASDAQ TRIN at 2.48
2008-11-11 20:56:38 [Message] fib_1618 -> Main Room: Open 10 at 1.17
2008-11-11 20:56:56 [Message] fib_1618 -> Main Room: and we broke below the prior lows today which could suggest the start of what we're looking for to finish this pattern structure
2008-11-11 20:57:23 [Message] fib_1618 -> Main Room: TM TRIN at 2.00
2008-11-11 20:57:33 [Message] fib_1618 -> Main Room: Open 10 at 1.17
2008-11-11 20:57:40 [Message] fib_1618 -> Main Room: and also broke below the recent lows
2008-11-11 20:57:43 [Message] fib_1618 -> Main Room: so...
2008-11-11 20:57:52 [Message] fib_1618 -> Main Room: continue to be flexible here
2008-11-11 20:57:58 [Message] dave -> Main Room: dave, one last question for ya, in terms of time, i know time is the hardest thing to determine, you think minute 5 will be well on its way by the time we get to opex?
2008-11-11 20:58:04 [Message] fib_1618 -> Main Room: we should expect a technical bounce tomorrow
2008-11-11 20:58:24 [Message] fib_1618 -> Main Room: and under a wave "E" type scenario in the current environment
2008-11-11 20:58:38 [Message] fib_1618 -> Main Room: how about a confirmed bailout of GM with the bounce?
2008-11-11 20:58:59 [Message] dave -> Main Room: wouldn't mind selling some calls for nov opex that are out of the money on this bounce
2008-11-11 20:59:01 [Message] fib_1618 -> Main Room: OPEX is always tricky, I'd be careful this close to expiration
2008-11-11 20:59:09 [Message] mojave -> Main Room: supposed 'auto co bailout' plan to be announced next week I thought...
2008-11-11 20:59:21 [Message] fib_1618 -> Main Room: we might unwind as you suggested earlier with a Tuesday bottom
2008-11-11 20:59:33 [Message] fib_1618 -> Main Room: who knows mojave
2008-11-11 20:59:41 [Message] fib_1618 -> Main Room: just providing an example on what usually accompanies "E" waves
2008-11-11 20:59:48 [Message] dave -> Main Room: thats my thinking and rally hard 2nd half of tuesday, wed, and thurs
2008-11-11 21:00:06 [Message] fib_1618 -> Main Room: I don't think Congress is in special session until next week - so you're probably right
2008-11-11 21:00:11 [Message] mojave -> Main Room: I'd like a dump, then ramp into expiry...
2008-11-11 21:00:19 [Message] fib_1618 -> Main Room: possible too
2008-11-11 21:00:23 [Message] fib_1618 -> Main Room: right now, the bulls have to step up with both barrels to hold it here
2008-11-11 21:00:45 [Message] fib_1618 -> Main Room: or we're going to see another "retest"
2008-11-11 21:00:50 [Message] denleo -> Main Room: spooz are up 16 right now. Looks like the bounce is starting.
2008-11-11 21:01:06 [Message] dave -> Main Room: test is the key phrase in the word retest, tests can fail
2008-11-11 21:01:16 [Message] fib_1618 -> Main Room: the zero line is the level in which one side will attempt to take control of the action
2008-11-11 21:01:42 [Message] fib_1618 -> Main Room: and we now have the parents - the NYSE and the NASDAQ - at zero line support
2008-11-11 21:02:03 [Message] fib_1618 -> Main Room: so the bulls want to try to re-enforce the work that was done last week
2008-11-11 21:02:09 [Message] fib_1618 -> Main Room: but if they don't get any comers
2008-11-11 21:02:19 [Message] fib_1618 -> Main Room: and prices start to drift
2008-11-11 21:02:34 [Message] fib_1618 -> Main Room: then it's "prices going down that make people sell"
2008-11-11 21:02:53 [Message] fib_1618 -> Main Room: we'll see how it goes...you never really know what will be the trigger
2008-11-11 21:03:05 [Message] fib_1618 -> Main Room: it could be something not even thought of that does it
2008-11-11 21:03:15 [Message] fib_1618 -> Main Room: anything else?
2008-11-11 21:03:23 [Message] dave -> Main Room: dave, on the 50 50 scenario of "e's" coming up short, how does this market figure out
2008-11-11 21:03:36 [Message] fib_1618 -> Main Room: if you find out, let me know
2008-11-11 21:03:57 [Message] fib_1618 -> Main Room: I'm more of a probability to outcome kind of trader
2008-11-11 21:04:04 [Message] dave -> Main Room: i mean, the e's that fail to get to full retracement come in hard downtrend's, correct?
2008-11-11 21:04:25 [Message] fib_1618 -> Main Room: so I'll watch things at .382, then 50%, and so on, until I see something different take place
2008-11-11 21:04:30 [Message] dave -> Main Room: kind of when flats come into play
2008-11-11 21:04:51 [Message] fib_1618 -> Main Room: sometimes...much of what you ask has more to do with the time needed to finish off the pattern than it does the pattern itself
2008-11-11 21:05:15 [Message] fib_1618 -> Main Room: sometimes the market, in indecision mode, has to tread water to wait for something to trade on
2008-11-11 21:05:25 [Message] dave -> Main Room: on closing basis, anyone have the fib numbers for 38 50 and 61 on spx for e?
2008-11-11 21:05:45 [Message] fib_1618 -> Main Room: sort of like we saw last Friday before BO spoke...the market literally went sideways for 2 hours into his news conference
2008-11-11 21:06:34 [Message] fib_1618 -> Main Room: OK...if there's nothing else
2008-11-11 21:06:38 [Message] fib_1618 -> Main Room: I'm going to get going
2008-11-11 21:06:43 [Message] dave -> Main Room: thanks dave
2008-11-11 21:06:44 [Message] fib_1618 -> Main Room: everyone have a great rest of the day
2008-11-11 21:06:51 [Message] fib_1618 -> Main Room: and we'll try again on Thursday
2008-11-11 21:06:52 [Message] fib_1618 -> Main Room: good night
2008-11-11 21:07:14 [Message] hpm123 -> Main Room: 931 - 944 - 958 dave
2008-11-11 21:07:29 [Message] dave -> Main Room: thanks hpm
2008-11-11 21:07:32 [Message] dave -> Main Room: appreciated
2008-11-11 21:07:34 [Message] hpm123 -> Main Room: or thereabouts -
2008-11-11 21:07:51 [Message] hpm123 -> Main Room: quite welcome -
2008-11-11 21:08:12 [Message] mojave -> Main Room: dave, is your thesis 'bounce to that level, then dump'?
2008-11-11 21:08:24 [Message] dave -> Main Room: yep, if we get there
2008-11-11 21:08:29 [Message] mojave -> Main Room: imo, seems unlikely going into expiry
2008-11-11 21:08:39 [Message] dave -> Main Room: something bad brewing imo, and think its imminent
2008-11-11 21:08:59 [Message] mojave -> Main Room: I don't doubt the bounce... you saw today how quickly buyers came in
2008-11-11 21:09:05 [Message] mojave -> Main Room: short covering or other...
2008-11-11 21:09:12 [Message] dave -> Main Room: the bounce to "e" is most bullish case imo
2008-11-11 21:09:33 [Message] mojave -> Main Room: well, seems we came back down here for a reason (test)...
2008-11-11 21:09:38 [Message] dave -> Main Room: and i think to have most impact, it would be a one day event
2008-11-11 21:09:57 [Message] mojave -> Main Room: and today was no test, just a drift...
2008-11-11 21:10:06 [Message] dave -> Main Room: that's the thing
2008-11-11 21:10:17 [Message] dave -> Main Room: the sell off today and yesterday and wed and thurs of last week
2008-11-11 21:10:20 [Message] dave -> Main Room: NO PANIC
2008-11-11 21:10:24 [Message] dave -> Main Room: just drift lower
2008-11-11 21:10:32 [Message] mojave -> Main Room: my preferred scenario, dump, whoosh, scare folks, into next week, then ramp into expiry
2008-11-11 21:10:41 [Message] dave -> Main Room: that's not good for the market, it was organized selling
2008-11-11 21:10:48 [Message] dave -> Main Room: selling begets selling
2008-11-11 21:10:54 [Message] dave -> Main Room: and will climax imo
2008-11-11 21:11:05 [Message] mojave -> Main Room: I'd like to see it
2008-11-11 21:11:26 [Message] mojave -> Main Room: 'let's do this thing!' lol
2008-11-11 21:11:29 [Message] dave -> Main Room: if not tomorrow b/c of the zero line tests and potential "e", i think Thursday
2008-11-11 21:12:18 [Message] mojave -> Main Room: my 'fear' is the bounce draws in the buyers, just like before, and we don't get the 'clarity' we need...
2008-11-11 21:12:39 [Message] mojave -> Main Room: oh well, time and price. We'll see. Later all ~
2008-11-11 21:12:45 [Message] lew -> Main Room: well, today's bounce sure lost buyers fast
2008-11-11 21:12:52 [Message] mojave -> Main Room: agreed Lew
2008-11-11 21:13:01 [Message] dave -> Main Room: futs are flying though
2008-11-11 21:13:07 [Message] dave -> Main Room: so that blows
2008-11-11 21:13:22 [Message] lew -> Main Room: gap, trap, and dump
2008-11-11 21:13:28 [Message] mojave -> Main Room: right, overnight trading has been weird tho
2008-11-11 21:13:52 [Message] mojave -> Main Room: who trades overnight? PPT?
2008-11-11 21:14:02 [Message] mojave -> Main Room: no volume, easy to move
2008-11-11 21:14:18 [Message] mojave -> Main Room:
2008-11-11 21:14:35 [Message] mojave -> Main Room: L8r!



__________________
Dave's LinkedIn Profile

Technical Watch Twitter Page

Technical Watch Facebook Page

"As for it being different this time, it is different every time. The question is in what way, and to what extent" - Tom McClellan

"An economist is someone who sees something happen, and then wonders if it would work in theory" - Ronald Reagan

"What we see depends mainly on what we look for" - John Lubbock

"The eye sees only what the mind is ready to comprehend" - Henri Bergson

“Answers are easy; it’s asking the right questions which is hard” - Dr. Who - 1977

"You know the very powerful and the very stupid have one thing in common - they don't alter their views to fit the facts, they alter the facts to fit their views (which can be uncomfortable if you happen to be one of the facts that needs altering)" - Dr. Who - 1977

0
Previous Topic | Next Topic
Print
Reply

Quick Navigation:






Copyright 2000-2017 Technical Watch