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fib_1618

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Reply with quote  #1 
2010-11-02 16:00:26 [Message] fib_1618 -> Chat: good day
2010-11-02 16:00:29 [Message] fib_1618 -> Chat: how is everyone?
2010-11-02 16:00:51 [Message] darris -> Chat: Good. We are starting to break out
2010-11-02 16:01:08 [Message] fib_1618 -> Chat: it would appear so
2010-11-02 16:01:11 [Message] fib_1618 -> Chat: how are the futures?
2010-11-02 16:01:23 [Message] darris -> Chat: At minor new highs
2010-11-02 16:01:32 [Message] fib_1618 -> Chat: interesting
2010-11-02 16:01:38 [Message] fib_1618 -> Chat: the exit polls are coming out now
2010-11-02 16:01:55 [Message] fib_1618 -> Chat: and it looks like we're likely to see a large shift
2010-11-02 16:02:09 [Message] fib_1618 -> Chat: was wondering how the futures might perceive this
2010-11-02 16:02:12 [Message] fib_1618 -> Chat: I also read
2010-11-02 16:02:48 [Message] fib_1618 -> Chat: that the FED is going to announce 500 billion in Treasury purchases
2010-11-02 16:03:06 [Message] darris -> Chat: The close was bullish in the futures, and now actually moving a little higher again. Top tick closes are normally good for follow through the next day
2010-11-02 16:03:11 [Message] fib_1618 -> Chat: that should tank the dollar...
2010-11-02 16:03:25 [Message] fib_1618 -> Chat: and with the dollar tanking
2010-11-02 16:03:38 [Message] fib_1618 -> Chat: those commodities measured in US dollars will benefit
2010-11-02 16:03:49 [Message] fib_1618 -> Chat: don't know if "benefit" is the right word
2010-11-02 16:04:04 [Message] fib_1618 -> Chat: but they'll move in concert
2010-11-02 16:04:22 [Message] darris -> Chat: Dollar nearing the low of the day around 76.8 Dec futures
2010-11-02 16:04:26 [Message] fib_1618 -> Chat: OK...any questions or comments before we get started??
2010-11-02 16:04:40 [Message] fib_1618 -> Chat: someone over at TT noticed a SOB on the dollar
2010-11-02 16:04:58 [Message] fib_1618 -> Chat: a break below the lows of 2 weeks ago will trigger it
2010-11-02 16:05:01 [Message] darris -> Chat: LOL, how much should we be invested? But save for the end of chat. thanks
2010-11-02 16:05:13 [Message] fib_1618 -> Chat: I'm long and strong
2010-11-02 16:05:29 [Message] fib_1618 -> Chat: waiting for confirmation of the take out of the April highs to move the cores
2010-11-02 16:05:41 [Message] fib_1618 -> Chat: the Transports broke out today I believe
2010-11-02 16:05:46 [Message] fib_1618 -> Chat: let me look
2010-11-02 16:06:15 [Message] fib_1618 -> Chat: yes...new closing highs joining the Utilities
2010-11-02 16:06:37 [Message] fib_1618 -> Chat: the Dow Theorists will have something to say soon
2010-11-02 16:06:51 [Message] fib_1618 -> Chat: all we know for now is that the market remains fully saturated
2010-11-02 16:07:10 [Message] fib_1618 -> Chat: and we should continue not to underestimate this power
2010-11-02 16:07:27 [Message] fib_1618 -> Chat: with that said...let me get DP up and we'll get started
2010-11-02 16:08:43 [Message] fib_1618 -> Chat: OK....the CO NYSE breadth MCO moved back above its zero line today
2010-11-02 16:09:08 [Message] fib_1618 -> Chat: but still remains below the recent reaction highs of two weeks ago
2010-11-02 16:09:32 [Message] fib_1618 -> Chat: if we can get above this level, this would be in co-ordination of an upside break out above the April highs in the NYA
2010-11-02 16:09:59 [Message] fib_1618 -> Chat: we should also note that we got our small point change outcome today
2010-11-02 16:10:09 [Message] fib_1618 -> Chat: although we had another one yesterday
2010-11-02 16:10:29 [Message] fib_1618 -> Chat: which might mean something after the ballot results tonight
2010-11-02 16:10:32 [Message] fib_1618 -> Chat: either that
2010-11-02 16:10:45 [Message] fib_1618 -> Chat: or the market was happy that the Giants won the World Series
2010-11-02 16:11:00 [Message] fib_1618 -> Chat: all kidding aside
2010-11-02 16:11:26 [Message] fib_1618 -> Chat: we knew that we were in a correction...with any near term surprises continuing to the weighted to the upside
2010-11-02 16:11:42 [Message] fib_1618 -> Chat: and that's what we got today after yesterday's nasty looking reversal bar
2010-11-02 16:12:00 [Message] fib_1618 -> Chat: which, I'm sure, everyone jumped on as being "the high"
2010-11-02 16:12:35 [Message] fib_1618 -> Chat: the composite NYSE breadth MCO also moved back above its zero line today
2010-11-02 16:12:54 [Message] fib_1618 -> Chat: after again holding in and around the -25 level
2010-11-02 16:13:16 [Message] fib_1618 -> Chat: when we talk about a McClellan Oscillator Buy Spike
2010-11-02 16:13:44 [Message] fib_1618 -> Chat: we note that its usual and customary to see the MCO move not much below the -25 level
2010-11-02 16:13:56 [Message] fib_1618 -> Chat: call it an area of bullish support as the -250 level would be on the MCSUM
2010-11-02 16:14:11 [Message] fib_1618 -> Chat: so until we see the NYSE breadth MCO finally break below this -25 level
2010-11-02 16:14:22 [Message] fib_1618 -> Chat: we can say that the market continues to "correct on the fly"
2010-11-02 16:14:29 [Message] fib_1618 -> Chat: near term
2010-11-02 16:15:10 [Message] fib_1618 -> Chat: we continue to see the recent strength noted in the MCO last Thursday as it has already taken out the recent highs today
2010-11-02 16:15:31 [Message] fib_1618 -> Chat: which is very good sign that we're probably ready to break out to the upside
2010-11-02 16:15:43 [Message] fib_1618 -> Chat: one other note
2010-11-02 16:16:00 [Message] fib_1618 -> Chat: if we do get good follow through on the MCO near term
2010-11-02 16:16:11 [Message] fib_1618 -> Chat: this will stop the progression of lower postings on the MCSUM
2010-11-02 16:16:39 [Message] fib_1618 -> Chat: and this would happen just about at a point of a full snapback to what was the previous highs of last August
2010-11-02 16:16:51 [Message] fib_1618 -> Chat: if we then hold this level and move to new highs
2010-11-02 16:17:01 [Message] fib_1618 -> Chat: the sky's the limit
2010-11-02 16:17:40 [Message] fib_1618 -> Chat: but that's about a week away from even considering...but the potential snapback is important to the general structure of the MCSUM
2010-11-02 16:18:08 [Message] fib_1618 -> Chat: snapback to the zero line as well with the NASDAQ breadth MCO
2010-11-02 16:18:25 [Message] fib_1618 -> Chat: and the NASDAQ composite price index closed today above its April highs
2010-11-02 16:19:01 [Message] fib_1618 -> Chat: the price pattern structure is showing a tremendous amount of strength as well
2010-11-02 16:19:12 [Message] fib_1618 -> Chat: as if it's about to "run away"
2010-11-02 16:20:26 [Message] fib_1618 -> Chat: technical, however, until we see the NASDAQ breadth MCSUM move above its +500 level, we must continue to consider that the run up is more of a momentum play as opposed to something ongoing
2010-11-02 16:20:45 [Message] fib_1618 -> Chat: boy - shaking my head here
2010-11-02 16:20:54 [Message] fib_1618 -> Chat: look at the NDX!
2010-11-02 16:21:11 [Message] fib_1618 -> Chat: the NDX breadth MCO has once again powered higher
2010-11-02 16:21:41 [Message] fib_1618 -> Chat: and this has left us with a expansion gap up and through the +1000 level on the NDX breadth MCSUM
2010-11-02 16:21:52 [Message] fib_1618 -> Chat: out next technical objective now is the +1250 level
2010-11-02 16:22:31 [Message] fib_1618 -> Chat: so bullish positions within this index can once again be considered
2010-11-02 16:23:19 [Message] fib_1618 -> Chat: this move above the +1000 level has also given us another 3 step MCSUM bull market structure from the early July lows
2010-11-02 16:23:35 [Message] fib_1618 -> Chat: this would suggest another 12-18 months of bullish behavior is in front of us
2010-11-02 16:23:42 [Message] fib_1618 -> Chat: amazing
2010-11-02 16:24:17 [Message] fib_1618 -> Chat: bottoms above bottoms remain on the SPX breadth MCO as it's also once again back above its zero line
2010-11-02 16:24:49 [Message] fib_1618 -> Chat: what are we...maybe 30 SPX points from the April highs now?
2010-11-02 16:25:16 [Message] thespookyone -> Chat: 27
2010-11-02 16:25:29 [Message] fib_1618 -> Chat: wow
2010-11-02 16:25:49 [Message] fib_1618 -> Chat: OK...the simple play here...is buying the SPX .10 above the highs of Monday and let it ride
2010-11-02 16:26:11 [Message] fib_1618 -> Chat: and that's conservative
2010-11-02 16:26:28 [Message] fib_1618 -> Chat: looking at the close up chart
2010-11-02 16:26:37 [Message] fib_1618 -> Chat: it would appear that we made a higher intraday high today?
2010-11-02 16:27:00 [Message] fib_1618 -> Chat: with a gap up today?
2010-11-02 16:27:03 [Message] fib_1618 -> Chat: whew
2010-11-02 16:27:05 [Message] fib_1618 -> Chat: wow
2010-11-02 16:27:08 [Message] fib_1618 -> Chat: what a market!
2010-11-02 16:27:24 [Message] fib_1618 -> Chat: OK...continue to play it long...
2010-11-02 16:27:26 [Message] fib_1618 -> Chat: lol
2010-11-02 16:27:32 [Message] thespookyone -> Chat: lol
2010-11-02 16:27:40 [Message] fib_1618 -> Chat: it's really amazing
2010-11-02 16:27:47 [Message] fib_1618 -> Chat: I've never seen this before
2010-11-02 16:28:02 [Message] fib_1618 -> Chat: the pattern structures are just so bullish here
2010-11-02 16:28:23 [Message] fib_1618 -> Chat: and as long as the internals remain strong...hold your nose if you have to...but you've got to play the long side
2010-11-02 16:29:01 [Message] fib_1618 -> Chat: the OEX breadth MCO broke above its short term declining tops line today
2010-11-02 16:29:08 [Message] fib_1618 -> Chat: and it's also back above it's zero line
2010-11-02 16:29:26 [Message] fib_1618 -> Chat: we look like that we're 'extending"
2010-11-02 16:30:00 [Message] fib_1618 -> Chat: if anyone wanted to see what an Elliott third wave looks like...just look at the chart
2010-11-02 16:30:24 [Message] fib_1618 -> Chat: and now we're going into the bullish 6 months of the year?
2010-11-02 16:30:46 [Message] fib_1618 -> Chat: you "sell in may" to "buy in November"
2010-11-02 16:31:28 [Message] fib_1618 -> Chat: looks like the Dow closed just under its April highs today
2010-11-02 16:31:46 [Message] fib_1618 -> Chat: and the Dow breadth MCO is showing a triangle here...about to break out
2010-11-02 16:32:16 [Message] fib_1618 -> Chat: the MID breadth MCO is lagging a bit here
2010-11-02 16:32:26 [Message] fib_1618 -> Chat: although it also moved above its zero line today
2010-11-02 16:32:37 [Message] fib_1618 -> Chat: if the FED announces 500 billion tomorrow
2010-11-02 16:32:54 [Message] fib_1618 -> Chat: that will be enough to stimulate both the mid caps and small caps
2010-11-02 16:33:10 [Message] fib_1618 -> Chat: same situation with the SML data
2010-11-02 16:33:35 [Message] fib_1618 -> Chat: and a simple snapback to the zero line on the Total Market breadth MCO
2010-11-02 16:33:55 [Message] fib_1618 -> Chat: sooooo....
2010-11-02 16:34:11 [Message] fib_1618 -> Chat: at this point, we're still correcting with the NYSE indices
2010-11-02 16:34:23 [Message] fib_1618 -> Chat: but continue to climb higher with the NASDAQ and NDX
2010-11-02 16:34:38 [Message] fib_1618 -> Chat: you want NASDAQ leadership for a bull move...it appears that you have it
2010-11-02 16:34:52 [Message] fib_1618 -> Chat: with no sign of slowing
2010-11-02 16:35:21 [Message] fib_1618 -> Chat: the XLY is now above its April highs
2010-11-02 16:35:34 [Message] fib_1618 -> Chat: that should help the multi nationals
2010-11-02 16:36:04 [Message] fib_1618 -> Chat: the bulls continue to climb on board the energies
2010-11-02 16:36:42 [Message] fib_1618 -> Chat: the XLF remains stagnant and driving everyone bonkers
2010-11-02 16:37:18 [Message] fib_1618 -> Chat: the XLV breadth MCSUM continues to roll over
2010-11-02 16:37:26 [Message] fib_1618 -> Chat: but remains bullish overall
2010-11-02 16:37:49 [Message] fib_1618 -> Chat: and the XLI breadth MCO powered higher today
2010-11-02 16:38:12 [Message] fib_1618 -> Chat: and this has allowed the XLI breadth MCSUM to gap above and away from the +500 level
2010-11-02 16:38:50 [Message] fib_1618 -> Chat: one more big gap higher that's all that's needed now for this sector to move above its April highs
2010-11-02 16:39:47 [Message] fib_1618 -> Chat: the XLB data is waiting for more sponsorship, but the price pattern made a new closing high today based on its momentum
2010-11-02 16:40:13 [Message] fib_1618 -> Chat: and the XLK breadth MCSUM has moved to new 52 week highs
2010-11-02 16:40:18 [Message] fib_1618 -> Chat: let me check the 3 year
2010-11-02 16:41:16 [Message] fib_1618 -> Chat: if we can get above the August 2009 highs...then we'll have a real good chance of see a challenge of the 2007 highs
2010-11-02 16:41:57 [Message] fib_1618 -> Chat: which is 27.53
2010-11-02 16:42:53 [Message] fib_1618 -> Chat: with the all time highs are at 61
2010-11-02 16:43:34 [Message] fib_1618 -> Chat: the XLU breadth MCSUM continues to trend lower
2010-11-02 16:43:45 [Message] fib_1618 -> Chat: and it's now at the +611 level
2010-11-02 16:43:52 [Message] fib_1618 -> Chat: notice the structure of this decline
2010-11-02 16:44:20 [Message] fib_1618 -> Chat: when we see the individual postings as close as they are from the August highs
2010-11-02 16:44:35 [Message] fib_1618 -> Chat: this instructs us that the bears have very little power here
2010-11-02 16:44:55 [Message] fib_1618 -> Chat: and that the internals are just correcting the excesses of the fuel spent during the summer
2010-11-02 16:45:33 [Message] fib_1618 -> Chat: this is why the price pattern can maintain a level above the point in which the MCSUM topped out
2010-11-02 16:45:41 [Message] fib_1618 -> Chat: and why...
2010-11-02 16:45:56 [Message] fib_1618 -> Chat: we don't see anything robust upside price behavior in the pattern
2010-11-02 16:46:10 [Message] fib_1618 -> Chat: we won't see something like this until the MCSUM actually turns higher again
2010-11-02 16:47:18 [Message] fib_1618 -> Chat: with the exception of the NASDAQ, NDX, and total market
2010-11-02 16:47:39 [Message] fib_1618 -> Chat: all of the other volume MCO's have now snapped back to their zero lines
2010-11-02 16:47:53 [Message] fib_1618 -> Chat: the exceptions continue to maintain their structures above their zero lines
2010-11-02 16:48:13 [Message] fib_1618 -> Chat: and these are the areas that are leading
2010-11-02 16:48:22 [Message] fib_1618 -> Chat: so with the total market in this category
2010-11-02 16:48:32 [Message] fib_1618 -> Chat: shorting this market really isn't on the agenda for now
2010-11-02 16:48:48 [Message] fib_1618 -> Chat: it's also interesting to note that during the last week or so
2010-11-02 16:49:15 [Message] fib_1618 -> Chat: instead of declining and closing back to unchanged during the day
2010-11-02 16:49:34 [Message] fib_1618 -> Chat: we've seen days in which we've rallied, and then declined to near unchanged
2010-11-02 16:49:49 [Message] fib_1618 -> Chat: call these false starts
2010-11-02 16:50:06 [Message] fib_1618 -> Chat: times in which traders go with the path of least resistance
2010-11-02 16:50:45 [Message] fib_1618 -> Chat: but by the end of the day, nothing really has changed enough to keep a plateau below these same levels
2010-11-02 16:50:50 [Message] fib_1618 -> Chat: today...was different
2010-11-02 16:50:54 [Message] fib_1618 -> Chat: we held today
2010-11-02 16:51:05 [Message] fib_1618 -> Chat: so that may be our tip off that we're about to breakout of the 2 week consolidation
2010-11-02 16:51:37 [Message] fib_1618 -> Chat: the weakest sector remains the XLF
2010-11-02 16:52:01 [Message] fib_1618 -> Chat: with the XLK remaining the strongest
2010-11-02 16:52:42 [Message] fib_1618 -> Chat: the CVI's remain bullish
2010-11-02 16:52:59 [Message] fib_1618 -> Chat: the STVO's are now pretty much neutral except the NDX
2010-11-02 16:53:15 [Message] fib_1618 -> Chat: VTO's remain bullish
2010-11-02 16:53:29 [Message] fib_1618 -> Chat: volume plurality remains consistent on the buy side
2010-11-02 16:53:44 [Message] fib_1618 -> Chat: NYSE TRIN at 1.03
2010-11-02 16:53:54 [Message] fib_1618 -> Chat: Open 10 at 1.04
2010-11-02 16:54:11 [Message] fib_1618 -> Chat: NASDAQ TRIN at 1.03
2010-11-02 16:54:21 [Message] fib_1618 -> Chat: Open 10 at .69
2010-11-02 16:54:24 [Message] fib_1618 -> Chat: "overbought"
2010-11-02 16:54:46 [Message] fib_1618 -> Chat: so is the 21 day and 55 day SMA of the NASDAQ TRIN
2010-11-02 16:55:13 [Message] fib_1618 -> Chat: no wonder it looks like the price pattern is "running away"!
2010-11-02 16:55:33 [Message] fib_1618 -> Chat: TM TRIN At 1.00
2010-11-02 16:55:42 [Message] fib_1618 -> Chat: Open 10 at .81
2010-11-02 16:55:52 [Message] fib_1618 -> Chat: we'll call that minimally "overbought"
2010-11-02 16:56:02 [Message] fib_1618 -> Chat: soooo....
2010-11-02 16:56:04 [Message] fib_1618 -> Chat: I guess the best way to trade this is with discipline
2010-11-02 16:56:29 [Message] fib_1618 -> Chat: work your longs...watch your stops...and ride the wave
2010-11-02 16:57:26 [Message] fib_1618 -> Chat: OEX put/call 10 day ratio now getting frothy here at .74
2010-11-02 16:57:34 [Message] fib_1618 -> Chat: lots of call buying
2010-11-02 16:57:40 [Message] fib_1618 -> Chat: the premiums must be sky high!
2010-11-02 16:57:49 [Message] thespookyone -> Chat: ridiculous
2010-11-02 16:58:21 [Message] fib_1618 -> Chat: I'm sure they are
2010-11-02 16:58:32 [Message] fib_1618 -> Chat: great if you bought them a couple of weeks ago
2010-11-02 16:58:37 [Message] fib_1618 -> Chat: but we know one thing that the highest option premiums are ALWAYS during Elliott third waves
2010-11-02 16:59:26 [Message] fib_1618 -> Chat: there's little doubt now on that label
2010-11-02 16:59:46 [Message] thespookyone -> Chat: problem is, as you get in the money-premium gets vacuumed
2010-11-02 16:59:50 [Message] fib_1618 -> Chat: a couple of things before we go on
2010-11-02 17:00:12 [Message] fib_1618 -> Chat: well...better in the money that out of the money
2010-11-02 17:00:22 [Message] fib_1618 -> Chat: think of the time decay on a single down day!
2010-11-02 17:00:32 [Message] fib_1618 -> Chat: you talk about a vacuum
2010-11-02 17:00:43 [Message] fib_1618 -> Chat: or just an unchanged day!
2010-11-02 17:00:45 [Message] thespookyone -> Chat: true as well!
2010-11-02 17:00:59 [Message] fib_1618 -> Chat: better to be in the money...that way you go point for point
2010-11-02 17:01:08 [Message] thespookyone -> Chat: yep
2010-11-02 17:01:25 [Message] fib_1618 -> Chat: there will be new passwords given by this weekend...so look for those in your e-mail
2010-11-02 17:01:41 [Message] thespookyone -> Chat: but you still go more like .6 and change-pretty brutal
2010-11-02 17:01:51 [Message] fib_1618 -> Chat: I will also include our December chat schedule with that information
2010-11-02 17:02:26 [Message] fib_1618 -> Chat: I will be on vacation the week of 12/13
2010-11-02 17:02:50 [Message] fib_1618 -> Chat: so I will be including a Wednesday the week before and the week after to make up the loss
2010-11-02 17:03:08 [Message] fib_1618 -> Chat: unless you guys would prefer Monday
2010-11-02 17:03:36 [Message] tracca -> Chat: I don't think that's necessary; thank you for everything
2010-11-02 17:03:55 [Message] fib_1618 -> Chat: so...Tuesday..Wednesday...Thursday - OR - Monday...Tuesday...Thursday???
2010-11-02 17:04:09 [Message] fib_1618 -> Chat: no...you guys pay good money to have these chats
2010-11-02 17:04:23 [Message] fib_1618 -> Chat: we'll just make it up...
2010-11-02 17:04:28 [Message] fib_1618 -> Chat: thoughts?
2010-11-02 17:04:41 [Message] thespookyone -> Chat: Mondays might be good to see the weekend reactions
2010-11-02 17:04:46 [Message] tracca -> Chat: you deserve a paid holiday
2010-11-02 17:04:49 [Message] fib_1618 -> Chat: anyone else?
2010-11-02 17:04:52 [Message] fib_1618 -> Chat: lol
2010-11-02 17:05:08 [Message] fib_1618 -> Chat: well...I'm up for that too...but you guys tell me
2010-11-02 17:05:21 [Message] thespookyone -> Chat: holiday for you it is!
2010-11-02 17:05:28 [Message] doc -> Chat: I'm easy. Hey Fib, do you think NYUD is cautioning here?
2010-11-02 17:05:56 [Message] fib_1618 -> Chat: well...OK...let's do this
2010-11-02 17:06:06 [Message] fib_1618 -> Chat: I will pencil in the extra days for December
2010-11-02 17:06:33 [Message] fib_1618 -> Chat: if by the end of November they're not necessary...I will take you guys up on your generous offer
2010-11-02 17:06:41 [Message] fib_1618 -> Chat: OK...NYUD...let me look
2010-11-02 17:07:23 [Message] doc -> Chat: Nothing major and still in bullish mode, but not confirming higher highs of NYA
2010-11-02 17:07:56 [Message] fib_1618 -> Chat: still below its breakout line - http://www.technicalwatch.com/chat10/nyud110210.png
2010-11-02 17:08:06 [Message] fib_1618 -> Chat: I wouldn't worry about that Doc
2010-11-02 17:08:13 [Message] fib_1618 -> Chat: we haven't really broken out
2010-11-02 17:08:32 [Message] fib_1618 -> Chat: however, if we do see a significant price breakout without the NYUD
2010-11-02 17:08:35 [Message] fib_1618 -> Chat: then I would be worried
2010-11-02 17:09:00 [Message] doc -> Chat: i think it is lagging due to the financials
2010-11-02 17:09:01 [Message] fib_1618 -> Chat: but these things work together to a point where the NYA probably will not be able to break to new highs without the NYUD
2010-11-02 17:09:12 [Message] doc -> Chat: C and BAC make up huge volume
2010-11-02 17:09:23 [Message] fib_1618 -> Chat: it's lagging because not all of the heavy weights are seeing heavy money flow...yet
2010-11-02 17:09:27 [Message] fib_1618 -> Chat: could be
2010-11-02 17:09:30 [Message] thespookyone -> Chat: jpm chart is gruesome, imho
2010-11-02 17:09:33 [Message] fib_1618 -> Chat: but C is doing fine
2010-11-02 17:09:40 [Message] fib_1618 -> Chat: let me look
2010-11-02 17:09:51 [Message] doc -> Chat: bac and JPM look awful
2010-11-02 17:10:29 [Message] fib_1618 -> Chat: and if you're REALLY worried...then you have this to fall back on - http://www.technicalwatch.com/chat10/naud110210.png
2010-11-02 17:10:56 [Message] fib_1618 -> Chat: C is mimicking the XLF
2010-11-02 17:11:13 [Message] fib_1618 -> Chat: and it's close now to a bullish configuration
2010-11-02 17:11:29 [Message] tracca -> Chat: BAC has very low short sales, I wonder why, it just requires a day to cover, could it be a preparation for a rally?
2010-11-02 17:11:35 [Message] fib_1618 -> Chat: 4.31 is the buy point there
2010-11-02 17:11:44 [Message] fib_1618 -> Chat: could be Doc
2010-11-02 17:11:58 [Message] fib_1618 -> Chat: it looked to be bottoming to me 2 weeks ago
2010-11-02 17:12:19 [Message] fib_1618 -> Chat: SAR buy signal at 11.61 for BAC
2010-11-02 17:12:39 [Message] fib_1618 -> Chat: 8 day ADX at 49
2010-11-02 17:12:46 [Message] fib_1618 -> Chat: we have trend exhaustion there
2010-11-02 17:13:08 [Message] fib_1618 -> Chat: 20 day EMA at 11.99
2010-11-02 17:13:11 [Message] fib_1618 -> Chat: to be honest
2010-11-02 17:13:26 [Message] fib_1618 -> Chat: I can't see BAC moving too much lower...the FED won't allow it
2010-11-02 17:13:56 [Message] fib_1618 -> Chat: JPM looks far better than BAC
2010-11-02 17:14:02 [Message] thespookyone -> Chat: jpm can easily turn into SOB
2010-11-02 17:14:19 [Message] fib_1618 -> Chat: possibly...not probably
2010-11-02 17:14:23 [Message] fib_1618 -> Chat: it's there
2010-11-02 17:14:41 [Message] fib_1618 -> Chat: but it doesn't have...
2010-11-02 17:14:50 [Message] fib_1618 -> Chat: trying to give a better description
2010-11-02 17:15:22 [Message] fib_1618 -> Chat: the secondary top at the beginning of October doesn't quite follow the classic SOB structure
2010-11-02 17:15:27 [Message] fib_1618 -> Chat: you know
2010-11-02 17:15:41 [Message] fib_1618 -> Chat: we can continue to worry about the money centers
2010-11-02 17:16:01 [Message] fib_1618 -> Chat: but do we continue to do so in the face of 80% of the market looking bullish?
2010-11-02 17:16:07 [Message] fib_1618 -> Chat: are the banks really necessary?
2010-11-02 17:16:21 [Message] fib_1618 -> Chat: it's like what we were talking about last week
2010-11-02 17:16:25 [Message] thespookyone -> Chat: nope, but they are proven stoppers
2010-11-02 17:16:43 [Message] fib_1618 -> Chat: were the semi's necessary for the market to rally between 2003 and 2007?
2010-11-02 17:16:52 [Message] fib_1618 -> Chat: I don't know about that
2010-11-02 17:16:54 [Message] fib_1618 -> Chat: look at the MCSUM's
2010-11-02 17:17:03 [Message] fib_1618 -> Chat: most of them are over +500
2010-11-02 17:17:10 [Message] fib_1618 -> Chat: if not over +750
2010-11-02 17:17:27 [Message] fib_1618 -> Chat: and are so without these same issues
2010-11-02 17:17:37 [Message] fib_1618 -> Chat: leadership is always rotating
2010-11-02 17:17:43 [Message] fib_1618 -> Chat: the banks will be fine
2010-11-02 17:17:52 [Message] fib_1618 -> Chat: they're making tons of interest now
2010-11-02 17:17:59 [Message] fib_1618 -> Chat: the gap between cost and retail is humongous on credit
2010-11-02 17:18:12 [Message] fib_1618 -> Chat: 12% interest
2010-11-02 17:18:14 [Message] fib_1618 -> Chat: 15%
2010-11-02 17:18:16 [Message] fib_1618 -> Chat: 18%!
2010-11-02 17:18:22 [Message] fib_1618 -> Chat: and penalties up to 30%
2010-11-02 17:18:40 [Message] fib_1618 -> Chat: late charges now up to $35.00!
2010-11-02 17:18:48 [Message] thespookyone -> Chat: hurting on their trading desks-don't care for how the market trades with them less in play, either
2010-11-02 17:18:57 [Message] fib_1618 -> Chat: let them rot
2010-11-02 17:19:07 [Message] fib_1618 -> Chat: I don't care
2010-11-02 17:19:12 [Message] fib_1618 -> Chat: they don't care about us
2010-11-02 17:19:41 [Message] fib_1618 -> Chat: maybe they'll get rid of those young Ivy Leaguers that helped got us into this mess to begin with!
2010-11-02 17:19:51 [Message] thespookyone -> Chat: I don't like them, I like the computer only influence on the market even less
2010-11-02 17:20:16 [Message] fib_1618 -> Chat: well...all I know is what I see with the A/D lines
2010-11-02 17:20:31 [Message] fib_1618 -> Chat: as long as money continues to flow in...I'm not going to stand in the way
2010-11-02 17:20:40 [Message] fib_1618 -> Chat: if money wants to move into the banks...fine
2010-11-02 17:20:52 [Message] fib_1618 -> Chat: if not...all I want is what it wants
2010-11-02 17:21:02 [Message] fib_1618 -> Chat: wherever it goes...I go
2010-11-02 17:21:02 [Message] thespookyone -> Chat: me either-I just don't like the way the new system slows my trading profits
2010-11-02 17:21:12 [Message] fib_1618 -> Chat: what new system?
2010-11-02 17:21:26 [Message] thespookyone -> Chat: computers only need pennies
2010-11-02 17:21:32 [Message] thespookyone -> Chat: they slow trading
2010-11-02 17:21:38 [Message] fib_1618 -> Chat: geeze
2010-11-02 17:21:46 [Message] fib_1618 -> Chat: you wouldn't gone bonkers before computers!
2010-11-02 17:21:50 [Message] fib_1618 -> Chat: lol
2010-11-02 17:21:57 [Message] fib_1618 -> Chat: you're spoiled!
2010-11-02 17:22:03 [Message] thespookyone -> Chat: yep
2010-11-02 17:22:04 [Message] fib_1618 -> Chat: come on...really?
2010-11-02 17:22:10 [Message] thespookyone -> Chat: yes,
2010-11-02 17:22:13 [Message] fib_1618 -> Chat: wow
2010-11-02 17:22:33 [Message] fib_1618 -> Chat: well...nothing I can say there
2010-11-02 17:22:37 [Message] thespookyone -> Chat: you trade sideways 4 hours a day now
2010-11-02 17:22:44 [Message] fib_1618 -> Chat: excuse me
2010-11-02 17:22:48 [Message] fib_1618 -> Chat: that's not computers
2010-11-02 17:22:55 [Message] fib_1618 -> Chat: that's indecision
2010-11-02 17:23:10 [Message] fib_1618 -> Chat: you want everyday to be a 1% move?
2010-11-02 17:23:28 [Message] thespookyone -> Chat: indecision on a wave 3 up, sorry
2010-11-02 17:23:37 [Message] fib_1618 -> Chat: it's a pause!
2010-11-02 17:23:41 [Message] fib_1618 -> Chat: goodness!
2010-11-02 17:24:03 [Message] fib_1618 -> Chat: you are aware that we correct more than we trend, right?
2010-11-02 17:24:15 [Message] fib_1618 -> Chat: like 80/20
2010-11-02 17:24:15 [Message] thespookyone -> Chat: certainly
2010-11-02 17:24:24 [Message] fib_1618 -> Chat: so go on a vacation! lol
2010-11-02 17:24:48 [Message] fib_1618 -> Chat: I'm sorry I don't have too much to say tonight
2010-11-02 17:25:07 [Message] tracca -> Chat: you said a lot, thank you again
2010-11-02 17:25:07 [Message] fib_1618 -> Chat: is there anything you folks want to look at?
2010-11-02 17:25:19 [Message] fib_1618 -> Chat: an indicator?
2010-11-02 17:25:31 [Message] fib_1618 -> Chat: I know more than just breadth analysis
2010-11-02 17:26:14 [Message] tracca -> Chat: I think this is sufficient for today
2010-11-02 17:26:17 [Message] thespookyone -> Chat: how do you feel about momentum here?
2010-11-02 17:26:42 [Message] tracca -> Chat: ok
2010-11-02 17:26:51 [Message] fib_1618 -> Chat: momentum is only as strong as the energy that produces it
2010-11-02 17:27:02 [Message] fib_1618 -> Chat: you have an indicator?
2010-11-02 17:27:15 [Message] thespookyone -> Chat: not any I like, lol
2010-11-02 17:27:22 [Message] fib_1618 -> Chat: lol
2010-11-02 17:27:23 [Message] tracca -> Chat: rsi, stoch, whatever you prefer
2010-11-02 17:27:31 [Message] fib_1618 -> Chat: well...both are different
2010-11-02 17:28:14 [Message] fib_1618 -> Chat: RSI measures the strength of the issue itself
2010-11-02 17:28:55 [Message] fib_1618 -> Chat: and the Stochastic where a stock closes relative to its price range
2010-11-02 17:29:24 [Message] fib_1618 -> Chat: and then it all depends on the time value
2010-11-02 17:29:46 [Message] fib_1618 -> Chat: both with the period and that of what you use to measure
2010-11-02 17:29:50 [Message] fib_1618 -> Chat: right now
2010-11-02 17:30:18 [Message] fib_1618 -> Chat: many of the 13 day RSI's have snapped back to neutral
2010-11-02 17:30:24 [Message] fib_1618 -> Chat: back to their 50% lines
2010-11-02 17:31:01 [Message] fib_1618 -> Chat: and stochastic shows that we're basically in this same configuration
2010-11-02 17:31:09 [Message] fib_1618 -> Chat: so we're not "overbought" anymore
2010-11-02 17:31:31 [Message] fib_1618 -> Chat: and relaxed enough now where the bulls can re-establish their trend
2010-11-02 17:31:50 [Message] fib_1618 -> Chat: meaning a bounce off their neutral readings
2010-11-02 17:31:51 [Message] tracca -> Chat: what values do you prefer for stoch or rsi, why?
2010-11-02 17:31:56 [Message] thespookyone -> Chat: thanks
2010-11-02 17:32:04 [Message] fib_1618 -> Chat: I trade on a daily close only basis
2010-11-02 17:32:19 [Message] fib_1618 -> Chat: I like to use a 13 day RSI to measure the short term trend
2010-11-02 17:32:37 [Message] fib_1618 -> Chat: and I use a 5 and/or 8 day to focus on a entry or exit points
2010-11-02 17:33:05 [Message] fib_1618 -> Chat: I use a 13.21,8 setting on the stochastic (or PPO)
2010-11-02 17:33:27 [Message] fib_1618 -> Chat: as you can see...I tend to gravitate toward Fibonacci numbers
2010-11-02 17:33:52 [Message] fib_1618 -> Chat: I use an 8 day and 13 day ADX to measure the strength of trend
2010-11-02 17:34:17 [Message] fib_1618 -> Chat: if I were day trading...I would probably use the same time periods
2010-11-02 17:34:27 [Message] fib_1618 -> Chat: when I day trade I use a 5 minute time period
2010-11-02 17:34:42 [Message] fib_1618 -> Chat: hourly is too slow for day trading and 1 minute is just too darn fast these days
2010-11-02 17:35:07 [Message] fib_1618 -> Chat: the key here
2010-11-02 17:35:22 [Message] fib_1618 -> Chat: is using an analytical tool that you know and understand
2010-11-02 17:35:32 [Message] fib_1618 -> Chat: if you don't...then they're a waste
2010-11-02 17:35:43 [Message] fib_1618 -> Chat: take the MCSUM for example
2010-11-02 17:35:51 [Message] fib_1618 -> Chat: for the last couple of weeks it's been declining
2010-11-02 17:36:01 [Message] fib_1618 -> Chat: or at least...had topped out
2010-11-02 17:36:12 [Message] fib_1618 -> Chat: how many people have you read noting this and have gone full up bearish on this same configuration?
2010-11-02 17:36:37 [Message] fib_1618 -> Chat: just about everyone?
2010-11-02 17:36:51 [Message] fib_1618 -> Chat: but in here we have learned that having the MCSUM roll over doesn't always mean a new direction for price
2010-11-02 17:37:13 [Message] thespookyone -> Chat: I'm using a 5 minute MCO during the day-it tends to trend well once it turns
2010-11-02 17:37:26 [Message] fib_1618 -> Chat: well...for me...that's too sensitive
2010-11-02 17:37:33 [Message] fib_1618 -> Chat: I have tried using the MCO during the day
2010-11-02 17:37:49 [Message] fib_1618 -> Chat: and my opinion is that it works its best on daily close only
2010-11-02 17:37:57 [Message] fib_1618 -> Chat: but if works for you...that's fantastic
2010-11-02 17:38:12 [Message] thespookyone -> Chat: shows the turns to me pretty well
2010-11-02 17:38:18 [Message] fib_1618 -> Chat: too many whipsaws for the tool to be beneficial to me
2010-11-02 17:38:24 [Message] fib_1618 -> Chat: like I said...that's great
2010-11-02 17:38:48 [Message] fib_1618 -> Chat: we have to understand that everyone of us is....wired differently
2010-11-02 17:38:59 [Message] fib_1618 -> Chat: some of us pick things up just by looking
2010-11-02 17:39:16 [Message] fib_1618 -> Chat: others are slower to understand the same thing
2010-11-02 17:39:44 [Message] fib_1618 -> Chat: this is why I try to go through a lot of repetition with these chats
2010-11-02 17:40:13 [Message] fib_1618 -> Chat: this way you should start to get the rhythm of what these tools tell us
2010-11-02 17:40:23 [Message] fib_1618 -> Chat: without having to guess what will happen tomorrow
2010-11-02 17:40:43 [Message] fib_1618 -> Chat: with our objective that we come up with a reasonable expectation given the information that's available to us
2010-11-02 17:40:44 [Message] fib_1618 -> Chat: and that things just don't turn in a blink of an eye
2010-11-02 17:41:10 [Message] fib_1618 -> Chat: it takes time to turn a cruise ship around in another direction
2010-11-02 17:41:20 [Message] fib_1618 -> Chat: same thing here with the market
2010-11-02 17:41:48 [Message] fib_1618 -> Chat: there is ALWAYS order...it may look chaotic, but it's not
2010-11-02 17:42:06 [Message] fib_1618 -> Chat: so if something works for one, and not the other, so be it
2010-11-02 17:42:18 [Message] thespookyone -> Chat: may see some sharp moves tomorrow
2010-11-02 17:43:05 [Message] fib_1618 -> Chat: well..I hope so for your sake...I don't want you committing Hari Cari if you don't get a big move !!
2010-11-02 17:43:20 [Message] thespookyone -> Chat: too true, gotta eat! lol
2010-11-02 17:43:28 [Message] fib_1618 -> Chat: OK...anything else?
2010-11-02 17:43:39 [Message] fib_1618 -> Chat: have these chats been useful?
2010-11-02 17:43:41 [Message] thespookyone -> Chat: thanks much, great as usual
2010-11-02 17:44:05 [Message] fib_1618 -> Chat: well...I hope they are
2010-11-02 17:44:09 [Message] fib_1618 -> Chat: anyway
2010-11-02 17:44:31 [Message] fib_1618 -> Chat: I guess that's about it unless there's any other questions
2010-11-02 17:44:38 [Message] tracca -> Chat: very useful, thank you
2010-11-02 17:44:55 [Message] fib_1618 -> Chat: let me know if there's anything else you guys want to review in the chat
2010-11-02 17:45:05 [Message] fib_1618 -> Chat: I'm open to other areas
2010-11-02 17:45:12 [Message] fib_1618 -> Chat: OK...with that said
2010-11-02 17:45:15 [Message] fib_1618 -> Chat: I'm going to get
2010-11-02 17:45:21 [Message] fib_1618 -> Chat: everyone have a great day or two
2010-11-02 17:45:28 [Message] fib_1618 -> Chat: and we'll see how things look on Thursday
2010-11-02 17:45:30 [Message] fib_1618 -> Chat: good night

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