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Posts: 4,418
Reply with quote  #1 
2011-11-03 16:01:13 [Message] fib_1618 -> Chat: good day
2011-11-03 16:01:18 [Message] fib_1618 -> Chat: how is everyone?
2011-11-03 16:01:35 [Message] thespookyone -> Chat: Very Well, thx
2011-11-03 16:01:51 [Message] thespookyone -> Chat: 2 day vacation, ready to roll
2011-11-03 16:02:09 [Message] fib_1618 -> Chat: checking out island real estate?
2011-11-03 16:02:31 [Message] thespookyone -> Chat: not interested in trading the down moves, LOL
2011-11-03 16:02:36 [Message] fib_1618 -> Chat: lol
2011-11-03 16:03:00 [Message] fib_1618 -> Chat: OK...any questions or comments before we get started??
2011-11-03 16:03:18 [Message] thespookyone -> Chat: wild night in futures last night
2011-11-03 16:03:29 [Message] fib_1618 -> Chat: been wild for several weeks now
2011-11-03 16:03:43 [Message] fib_1618 -> Chat: I wake up at 3 Eastern and see it one way
2011-11-03 16:03:55 [Message] fib_1618 -> Chat: and then get up at 7 eastern to see that it's the opposite!
2011-11-03 16:04:10 [Message] thespookyone -> Chat: i saw it at 3:30-had to rub my eyes at 9:00
2011-11-03 16:04:37 [Message] fib_1618 -> Chat: well, for me, 3 eastern is midnight...I get up at 4 in the morning each day
2011-11-03 16:04:44 [Message] thespookyone -> Chat: wow
2011-11-03 16:05:02 [Message] fib_1618 -> Chat: one of the disadvantages of living on the left coast
2011-11-03 16:05:18 [Message] thespookyone -> Chat: like trading from England-get to sleep in
2011-11-03 16:05:20 [Message] fib_1618 -> Chat: but we get all the live stuff you have to wait for 3 hours earlier!
2011-11-03 16:05:37 [Message] fib_1618 -> Chat: so...I'm able to get to bed that much earlier
2011-11-03 16:05:46 [Message] fib_1618 -> Chat: so it all works out in the end
2011-11-03 16:05:53 [Message] thespookyone -> Chat: yep
2011-11-03 16:06:01 [Message] fib_1618 -> Chat: OK...if there's nothing else...let me get DP up and we'll get started
2011-11-03 16:06:35 [Message] fib_1618 -> Chat: one of the things we talked about in passing on Tuesday
2011-11-03 16:06:56 [Message] fib_1618 -> Chat: was the idea that we may have seen a classic McClellan "Buy Spike" in progress
2011-11-03 16:07:06 [Message] fib_1618 -> Chat: a Buy Spike, for those who don't know
2011-11-03 16:07:28 [Message] fib_1618 -> Chat: was something that Kennedy Gammage made famous back in the early 1970's
2011-11-03 16:07:46 [Message] fib_1618 -> Chat: and this spike has several guidelines that it follows
2011-11-03 16:08:01 [Message] fib_1618 -> Chat: the first of which we usually see a divergent low in the MCO
2011-11-03 16:08:15 [Message] fib_1618 -> Chat: the second is that we see a swift "breadth thrust" higher in the MCO
2011-11-03 16:08:30 [Message] fib_1618 -> Chat: and then it must stay fairly high for usually a 2 week period of time
2011-11-03 16:08:48 [Message] fib_1618 -> Chat: fairly high, in this instance, is usually anything above the +25 level
2011-11-03 16:09:07 [Message] fib_1618 -> Chat: it then shows a sharp drop out of a complex pattern to the downside
2011-11-03 16:09:24 [Message] fib_1618 -> Chat: and usually finds its stopping point at around the -25 level
2011-11-03 16:09:43 [Message] fib_1618 -> Chat: so we had everything on the check list here on Tuesday
2011-11-03 16:09:58 [Message] fib_1618 -> Chat: and what we needed then was for a just as sharp reversal higher
2011-11-03 16:10:09 [Message] fib_1618 -> Chat: first back above the MCO zero line the next day
2011-11-03 16:10:17 [Message] fib_1618 -> Chat: and then a continuation to the upside the following day
2011-11-03 16:10:28 [Message] fib_1618 -> Chat: looking then at the NYSE CO breadth MCO today
2011-11-03 16:10:43 [Message] fib_1618 -> Chat: and we have now met all the criteria of a classic buy spike
2011-11-03 16:11:20 [Message] fib_1618 -> Chat: this spike has also taken place just where we were looking for formidable MCSUM pattern resistance - at the +500 level
2011-11-03 16:11:48 [Message] fib_1618 -> Chat: today's follow through has now pushed the MCSUM above this important +500 level
2011-11-03 16:12:09 [Message] fib_1618 -> Chat: with the last area needing to move above is the April highs
2011-11-03 16:12:21 [Message] fib_1618 -> Chat: from there we would then be called "in the clear"
2011-11-03 16:12:26 [Message] fib_1618 -> Chat: and more importantly
2011-11-03 16:12:52 [Message] fib_1618 -> Chat: the upcoming challenge of the 2011 highs will likely be a successful one in breaking to new price highs for the year
2011-11-03 16:13:26 [Message] fib_1618 -> Chat: we also have now extended the likelihood of this current advancing price structure to continue into the beginning of next year
2011-11-03 16:13:32 [Message] fib_1618 -> Chat: at this February
2011-11-03 16:13:56 [Message] fib_1618 -> Chat: and if we're able to take out the highs seen at the +750 level
2011-11-03 16:14:15 [Message] fib_1618 -> Chat: this will then extend the current advance that much longer...tentatively to around the middle part of spring
2011-11-03 16:14:52 [Message] fib_1618 -> Chat: which, by the way, woman's apparel has been showing bullish fashion looks
2011-11-03 16:15:00 [Message] fib_1618 -> Chat: may ask
2011-11-03 16:15:18 [Message] fib_1618 -> Chat: what can we expect from a "Buy Spike"?
2011-11-03 16:15:42 [Message] fib_1618 -> Chat: well, for one thing, it will extend our current upward progress by another 3-4 weeks on average
2011-11-03 16:16:51 [Message] fib_1618 -> Chat: as the spike itself instructs us that there now fresh buying coming even after 4 weeks of upward progress
2011-11-03 16:17:29 [Message] fib_1618 -> Chat: how far and high we go will then greatly depend on the consistency to which this same degree of money flow is received by the market in general
2011-11-03 16:18:38 [Message] fib_1618 -> Chat: but if we use the 16-18 month offset that gold provides as a leading indication
2011-11-03 16:18:46 [Message] fib_1618 -> Chat: if you look at a chart of gold
2011-11-03 16:19:04 [Message] fib_1618 -> Chat: we are currently in the area of July 2010 lows
2011-11-03 16:19:12 [Message] fib_1618 -> Chat: and you can see what happened after that
2011-11-03 16:19:58 [Message] fib_1618 -> Chat: as it shows a topping pattern that would equate to the February 2012 time period
2011-11-03 16:20:15 [Message] fib_1618 -> Chat: and then a higher high about a month or two later before consolidating for 2 months or so
2011-11-03 16:20:36 [Message] fib_1618 -> Chat: the expectation for this then
2011-11-03 16:20:43 [Message] fib_1618 -> Chat: in a perfect technical world
2011-11-03 16:20:54 [Message] fib_1618 -> Chat: is that we will rally to the all time highs in the SPX and Dow
2011-11-03 16:21:04 [Message] fib_1618 -> Chat: and then consolidate at those levels in the spring
2011-11-03 16:21:19 [Message] fib_1618 -> Chat: before moving to new price highs as indicated by the gold blueprint
2011-11-03 16:21:42 [Message] fib_1618 -> Chat: what's interesting about this correlation
2011-11-03 16:22:04 [Message] fib_1618 -> Chat: is that if you take a "birds eye" view of gold prior to the July 2010 lows
2011-11-03 16:22:43 [Message] fib_1618 -> Chat: the pattern leading into this low looks pretty much like the pattern that we saw during the first half of the year
2011-11-03 16:23:05 [Message] fib_1618 -> Chat: and even before that into the beginning of 2010
2011-11-03 16:23:36 [Message] fib_1618 -> Chat: anyway...let's see how the rest of the charts look
2011-11-03 16:24:12 [Message] fib_1618 -> Chat: the composite NYSE breadth MCO is showing just a simple snapback to its zero line
2011-11-03 16:24:26 [Message] fib_1618 -> Chat: and after hesitating earlier in the week
2011-11-03 16:24:38 [Message] fib_1618 -> Chat: the NYSE breadth MCSUM is once again moving higher with our continuing expectation for a move to the +750 level
2011-11-03 16:25:13 [Message] fib_1618 -> Chat: where we also have our major horizontal resistance area
2011-11-03 16:25:46 [Message] fib_1618 -> Chat: moving to the NASDAQ breadth MCO
2011-11-03 16:25:57 [Message] fib_1618 -> Chat: and here too we've been able to bounce at or near the zero line
2011-11-03 16:26:01 [Message] fib_1618 -> Chat: but more importantly
2011-11-03 16:26:31 [Message] fib_1618 -> Chat: the NASDAQ breadth MCSUM has now cleared its way above its horizontal resistance area
2011-11-03 16:26:48 [Message] fib_1618 -> Chat: so this market is "in the clear" to trend higher
2011-11-03 16:27:16 [Message] fib_1618 -> Chat: still looking at the MCSUM
2011-11-03 16:27:33 [Message] fib_1618 -> Chat: and we see that the divergent highs top came in the February period
2011-11-03 16:27:53 [Message] fib_1618 -> Chat: so it will be that divergence that will need to be taken out in order for the price pattern to move to new recovery highs
2011-11-03 16:28:30 [Message] fib_1618 -> Chat: the first order of business though
2011-11-03 16:28:36 [Message] fib_1618 -> Chat: is to take out the +250 level
2011-11-03 16:28:39 [Message] fib_1618 -> Chat: once we do that
2011-11-03 16:29:04 [Message] fib_1618 -> Chat: then we'll gain good confidence that this breakout can even take place during this current advance
2011-11-03 16:29:38 [Message] fib_1618 -> Chat: the NDX breadth MCO is showing a classic "oversold" spike to its pattern
2011-11-03 16:30:33 [Message] fib_1618 -> Chat: and it will be important for this MCO to take out its reaction highs of a week OK to reinforce the direction of the current advance
2011-11-03 16:31:26 [Message] fib_1618 -> Chat: as this would then instruct us that the two tops from last spring will not only be challenged during this sequence, but they will likely be taken out as well
2011-11-03 16:31:56 [Message] fib_1618 -> Chat: the SPX breadth MCO is showing another classic "buy spike"
2011-11-03 16:32:35 [Message] fib_1618 -> Chat: and this new found power has now pushed the SPX breadth MCSUM above the +750 resistance level
2011-11-03 16:33:22 [Message] fib_1618 -> Chat: next target will be the +1000 level where we see that we have another important point in the MCSUM pattern from the February period
2011-11-03 16:33:56 [Message] fib_1618 -> Chat: remember...these February tops in the MCSUM started the larger consolidation price pattern that continued into the end of July
2011-11-03 16:34:21 [Message] fib_1618 -> Chat: so since these are the internal tops of the trend of money
2011-11-03 16:34:35 [Message] fib_1618 -> Chat: it reasonable to extend this to the price pattern itself and its tops as well
2011-11-03 16:34:52 [Message] fib_1618 -> Chat: break above the February highs internally
2011-11-03 16:34:59 [Message] fib_1618 -> Chat: and the external will likely follow
2011-11-03 16:35:22 [Message] fib_1618 -> Chat: prices can not move in one direction or the other unless money is leading the way
2011-11-03 16:35:35 [Message] fib_1618 -> Chat: that includes breakouts and breakdowns
2011-11-03 16:36:54 [Message] fib_1618 -> Chat: the OEX breadth MCSUM has now moved slightly above its November and February tops seen on the yearly chart
2011-11-03 16:37:23 [Message] fib_1618 -> Chat: and this would be good news for the bulls as this would indicate that the price highs of the 2011 will likely be taken out on this current advance
2011-11-03 16:38:03 [Message] fib_1618 -> Chat: the Dow breadth MCSUM is also showing this same kind of trend strength currently
2011-11-03 16:38:45 [Message] fib_1618 -> Chat: but the larger patten doesn't have the same confidence that the OEX pattern does
2011-11-03 16:39:03 [Message] fib_1618 -> Chat: but since all 30 of the Dow stocks are in the OEX
2011-11-03 16:39:30 [Message] fib_1618 -> Chat: there's an good implication that it will move to new yearly highs on this current advance
2011-11-03 16:39:53 [Message] fib_1618 -> Chat: higher highs as well with the MID breadth MCSUM
2011-11-03 16:40:05 [Message] fib_1618 -> Chat: and looking again at the price pattern here
2011-11-03 16:40:12 [Message] fib_1618 -> Chat: as we talked about on Tuesday
2011-11-03 16:40:32 [Message] fib_1618 -> Chat: snapback now complete both on the previous horizontal pattern, as well as, a snapback towards what was the declining trend line that was controlling the pattern
2011-11-03 16:41:25 [Message] fib_1618 -> Chat: higher highs as well with the SML breadth MCSUM
2011-11-03 16:41:53 [Message] fib_1618 -> Chat: and we're also moving in and around some significant horizontal resistance here as well
2011-11-03 16:42:27 [Message] fib_1618 -> Chat: and the TM breadth MCSUM gives a great picture of this new found "thrust" we have here
2011-11-03 16:42:51 [Message] fib_1618 -> Chat: notice the robust nature of the gap expansion from Tuesday's consolidation
2011-11-03 16:43:12 [Message] fib_1618 -> Chat: and this is really good news for the bulls
2011-11-03 16:43:40 [Message] fib_1618 -> Chat: because now we no longer have to worry about this being a bear market rally since we have moved above the +250 level
2011-11-03 16:44:29 [Message] fib_1618 -> Chat: and all we need to do now is to move above the +500 level and we'll then be able to move out of the sideways consolidation level that's controlled the price pattern for most of the year
2011-11-03 16:44:34 [Message] fib_1618 -> Chat: so...
2011-11-03 16:44:43 [Message] fib_1618 -> Chat: the market continues to impress
2011-11-03 16:45:05 [Message] fib_1618 -> Chat: with the anticipation of a buy spike here
2011-11-03 16:45:13 [Message] fib_1618 -> Chat: our attention now turns to the MCSUM's
2011-11-03 16:45:30 [Message] fib_1618 -> Chat: as we already know that the short term trend remains strong
2011-11-03 16:45:40 [Message] fib_1618 -> Chat: we now have to see how far we're going to go here on this new fuel source
2011-11-03 16:46:05 [Message] fib_1618 -> Chat: all dependent on how high, and how strong, the various breadth MCSUM's move from this juncture
2011-11-03 16:46:12 [Message] fib_1618 -> Chat: as each challenge is meet
2011-11-03 16:46:31 [Message] fib_1618 -> Chat: the higher the amplitude we'll see with prices
2011-11-03 16:46:36 [Message] fib_1618 -> Chat: keeping in mind
2011-11-03 16:46:50 [Message] fib_1618 -> Chat: the further the MCSUM travels from its zero line
2011-11-03 16:46:59 [Message] fib_1618 -> Chat: the easier it is for prices to move in this same direction
2011-11-03 16:47:16 [Message] fib_1618 -> Chat: and the average stock will be able to gain (or lose) more with less money
2011-11-03 16:47:22 [Message] fib_1618 -> Chat: again..the concept is
2011-11-03 16:47:39 [Message] fib_1618 -> Chat: the higher the space shuttle goes from its launching pad
2011-11-03 16:47:55 [Message] fib_1618 -> Chat: the less and less fuel is needed to keep its momentum moving in this same direction
2011-11-03 16:48:01 [Message] fib_1618 -> Chat: the same theory works here as well
2011-11-03 16:50:21 [Message] fib_1618 -> Chat: let's move on to the sector breadth charts today to see where the leadership is
2011-11-03 16:50:55 [Message] fib_1618 -> Chat: notice how the XLY breadth MCSUM moved to challenge its overhead horizontal resistance
2011-11-03 16:51:00 [Message] fib_1618 -> Chat: snapped back to the +750 level
2011-11-03 16:51:11 [Message] fib_1618 -> Chat: and is curling higher again
2011-11-03 16:51:21 [Message] fib_1618 -> Chat: if this sector is able to take out the highs of last week
2011-11-03 16:51:33 [Message] fib_1618 -> Chat: this would then clear the price pattern to move to new yearly highs
2011-11-03 16:52:17 [Message] fib_1618 -> Chat: which, by the way, would be all time highs
2011-11-03 16:52:35 [Message] fib_1618 -> Chat: so that's one area that merits our watching
2011-11-03 16:52:47 [Message] fib_1618 -> Chat: because if this sector is moving to all time highs
2011-11-03 16:53:07 [Message] fib_1618 -> Chat: a lot of money is thinking that people are going to go out and buy the kinds of things that can last for many years
2011-11-03 16:53:11 [Message] fib_1618 -> Chat: washers, dryers
2011-11-03 16:53:14 [Message] fib_1618 -> Chat: stoves, furniture
2011-11-03 16:53:17 [Message] fib_1618 -> Chat: cars and trucks
2011-11-03 16:53:27 [Message] fib_1618 -> Chat: and the only way that's likely to happen
2011-11-03 16:53:41 [Message] fib_1618 -> Chat: is that there's going to be new confidence...and maybe...job creation
2011-11-03 16:53:51 [Message] fib_1618 -> Chat: so far this week
2011-11-03 16:54:05 [Message] fib_1618 -> Chat: the job's numbers have been "surprising the street"
2011-11-03 16:54:18 [Message] fib_1618 -> Chat: we'll see how the big number does when it comes out tomorrow
2011-11-03 16:55:10 [Message] fib_1618 -> Chat: the XLP data is looking a bit sluggish here
2011-11-03 16:55:22 [Message] fib_1618 -> Chat: with lots of resistance both price wise and MCSUM wise
2011-11-03 16:55:35 [Message] fib_1618 -> Chat: also notice that with Tuesday's spike
2011-11-03 16:55:47 [Message] fib_1618 -> Chat: the XLP breadth MCO moved to a slightly lower low
2011-11-03 16:56:24 [Message] fib_1618 -> Chat: so we'll need to see the short term declining tops line to be violated to the upside first before we put on any new positions there
2011-11-03 16:56:30 [Message] fib_1618 -> Chat: rated a hold for now
2011-11-03 16:56:59 [Message] fib_1618 -> Chat: now...the XLE
2011-11-03 16:57:12 [Message] fib_1618 -> Chat: this could be the most exciting sector for the short term
2011-11-03 16:57:25 [Message] fib_1618 -> Chat: as going back to gold's time offset
2011-11-03 16:57:38 [Message] fib_1618 -> Chat: it usually leads commodities by about 4 months
2011-11-03 16:57:45 [Message] fib_1618 -> Chat: if we look back on gold 4 months ago
2011-11-03 16:58:11 [Message] fib_1618 -> Chat: that was the approximate starting point from where it melted up from the $1500 level to the top at $1900
2011-11-03 16:58:21 [Message] fib_1618 -> Chat: looking at the XLE breadth MCSUM
2011-11-03 16:58:42 [Message] fib_1618 -> Chat: and we have now cleared any intermediate resistance levels we have to work with
2011-11-03 16:59:06 [Message] fib_1618 -> Chat: with only the longer term topping action at the left end of the chart still yet to be challenged
2011-11-03 16:59:32 [Message] fib_1618 -> Chat: so this sector looks like the best buy so far
2011-11-03 16:59:53 [Message] fib_1618 -> Chat: and then we come to the XLF data
2011-11-03 17:00:03 [Message] fib_1618 -> Chat: and here we're once again in a great position to rally
2011-11-03 17:00:20 [Message] fib_1618 -> Chat: a slight hesitation just above the +500 level
2011-11-03 17:00:33 [Message] fib_1618 -> Chat: and we've now been able to extend the pattern to the upside
2011-11-03 17:00:54 [Message] fib_1618 -> Chat: potential wise
2011-11-03 17:01:15 [Message] fib_1618 -> Chat: this is probably the best of the rest since no one wants to touch financials
2011-11-03 17:01:40 [Message] fib_1618 -> Chat: so this could be a good play for the next several months as it should begin to play catch up once clarity is known
2011-11-03 17:02:02 [Message] fib_1618 -> Chat: and that could come as soon as tomorrows G-20/Greece vote (your pick)
2011-11-03 17:02:41 [Message] fib_1618 -> Chat: the XLV breadth MCSUM is also moving in and around the +750 level
2011-11-03 17:02:43 [Message] fib_1618 -> Chat: keep in mind
2011-11-03 17:02:51 [Message] fib_1618 -> Chat: that once this clarity is known here
2011-11-03 17:03:03 [Message] fib_1618 -> Chat: with much of the market already above the +500 MCSUM level
2011-11-03 17:03:07 [Message] fib_1618 -> Chat: once things are sorted
2011-11-03 17:03:22 [Message] fib_1618 -> Chat: we could be looking at a pretty good rip to the upside since we're working with such high numbers on the MCSUM
2011-11-03 17:03:57 [Message] fib_1618 -> Chat: same with the XLI breadth MCSUM
2011-11-03 17:04:06 [Message] fib_1618 -> Chat: again...right at the +750 level
2011-11-03 17:04:23 [Message] fib_1618 -> Chat: these are powerful levels of extremes here
2011-11-03 17:04:30 [Message] fib_1618 -> Chat: and if we continue to move even higher
2011-11-03 17:04:43 [Message] fib_1618 -> Chat: things will tend to broaden out exponentially
2011-11-03 17:04:54 [Message] fib_1618 -> Chat: amazing
2011-11-03 17:05:08 [Message] fib_1618 -> Chat: the XLB breadth MCSUM is also moving above the +750 level now
2011-11-03 17:05:24 [Message] fib_1618 -> Chat: the XLK too!
2011-11-03 17:05:56 [Message] fib_1618 -> Chat: and like the consumer staples
2011-11-03 17:06:15 [Message] fib_1618 -> Chat: the utilities (XLU) breadth MCO also made a slightly lower low on Tuesday
2011-11-03 17:06:34 [Message] fib_1618 -> Chat: but it's MCSUM is finding good support here at the +1000 level
2011-11-03 17:07:09 [Message] fib_1618 -> Chat: all time highs here is at the 39 level
2011-11-03 17:07:18 [Message] fib_1618 -> Chat: we're now at 35.14
2011-11-03 17:07:20 [Message] fib_1618 -> Chat: so....
2011-11-03 17:07:24 [Message] fib_1618 -> Chat: anyone have a match?
2011-11-03 17:07:35 [Message] fib_1618 -> Chat: because if we get a strike here
2011-11-03 17:07:46 [Message] fib_1618 -> Chat: the potential here could be staggering
2011-11-03 17:07:53 [Message] fib_1618 -> Chat: one things for sure
2011-11-03 17:08:08 [Message] fib_1618 -> Chat: even if we top out here by some chance
2011-11-03 17:08:30 [Message] fib_1618 -> Chat: it's going to take a month or so before the bears will be able to develop any trend to the downside
2011-11-03 17:08:39 [Message] fib_1618 -> Chat: and if we continue higher
2011-11-03 17:08:57 [Message] fib_1618 -> Chat: do expect that we're likely to have quick and sharper pull backs the higher we go
2011-11-03 17:09:04 [Message] fib_1618 -> Chat: it's just the nature of the beast
2011-11-03 17:11:10 [Message] fib_1618 -> Chat: OK...let's move on to the volume McClellan's
2011-11-03 17:11:43 [Message] fib_1618 -> Chat: the CO NYSE volume also has a spike low in place
2011-11-03 17:11:59 [Message] fib_1618 -> Chat: and the CO NYSE volume MCSUM has now moved above the +500 level joining its breadth cousin
2011-11-03 17:12:19 [Message] fib_1618 -> Chat: as we always like to say
2011-11-03 17:12:45 [Message] fib_1618 -> Chat: we either want to see the trend of volume moving ahead or at least keeping up with breadth in order for a trend to be valid
2011-11-03 17:13:03 [Message] fib_1618 -> Chat: and the CO data is showing this synchronicity very nicely
2011-11-03 17:13:29 [Message] fib_1618 -> Chat: same goes with the NYSE composite volume MCSUM
2011-11-03 17:13:42 [Message] fib_1618 -> Chat: more importantly
2011-11-03 17:13:51 [Message] fib_1618 -> Chat: we're not seeing any internal divergence here
2011-11-03 17:14:18 [Message] fib_1618 -> Chat: so this would then suggest that the path of least resistance, in this case, remains up until PROVEN otherwise
2011-11-03 17:14:58 [Message] fib_1618 -> Chat: moving to the NASDAQ volume MCSUM
2011-11-03 17:15:10 [Message] fib_1618 -> Chat: and here we're seeing some "secondary" weakness at this stage
2011-11-03 17:15:40 [Message] fib_1618 -> Chat: which then directs us that we're likely to see a better bang for our trading buck if we keep with the NYSE group of stocks
2011-11-03 17:15:51 [Message] fib_1618 -> Chat: but on the other hand
2011-11-03 17:16:43 [Message] fib_1618 -> Chat: finding near term support at the +500 level does suggest that money is waiting to invest in these same lower caliber issues until a problem is sorted out
2011-11-03 17:17:06 [Message] fib_1618 -> Chat: since you don't get much for waiting around when you purchase these issues (like dividends), money will tend to find other areas of investment that do give a return while you wait
2011-11-03 17:17:34 [Message] fib_1618 -> Chat: the NDX volume MCO continues to be the weakest link here
2011-11-03 17:17:43 [Message] fib_1618 -> Chat: as it has only now snapped back up to its zero line
2011-11-03 17:18:08 [Message] fib_1618 -> Chat: the key here for these basket of stocks is to move above the February highs on the NDX volume MCSUM
2011-11-03 17:18:22 [Message] fib_1618 -> Chat: which looks to be at around the +900 level
2011-11-03 17:18:34 [Message] fib_1618 -> Chat: and on the third hand
2011-11-03 17:18:52 [Message] fib_1618 -> Chat: finding support at the +750 level isn't such a bad thing either
2011-11-03 17:19:21 [Message] fib_1618 -> Chat: so if we do see this index start to flex some muscle here
2011-11-03 17:19:56 [Message] fib_1618 -> Chat: this would add something to the bullish side that we'll likely be in a strong uptrend for a period of months and not weeks
2011-11-03 17:20:23 [Message] fib_1618 -> Chat: we really have to admire the strength we're seeing here
2011-11-03 17:20:37 [Message] fib_1618 -> Chat: the angles of ascent and the individual postings of the MCSUM's
2011-11-03 17:21:11 [Message] fib_1618 -> Chat: all says that the bulls have better control of things than what prices are indicating
2011-11-03 17:22:05 [Message] fib_1618 -> Chat: notice how, like its breadth cousin, the SPX volume MCO also found spike support at the -25 level
2011-11-03 17:22:36 [Message] fib_1618 -> Chat: and this has now pushed the SPX volume MCSUM to higher highs
2011-11-03 17:23:12 [Message] fib_1618 -> Chat: the OEX volume MCSUM is also within range of moving to new 52 week highs as is the breadth side of things
2011-11-03 17:23:18 [Message] fib_1618 -> Chat: and if they do this jointly
2011-11-03 17:23:38 [Message] fib_1618 -> Chat: there will be little doubt as to whether or not we're likely to see higher price highs later this year
2011-11-03 17:24:02 [Message] fib_1618 -> Chat: the internals are really amazing here
2011-11-03 17:24:32 [Message] fib_1618 -> Chat: all the bears could do is slow the rate of ascent in many of the MCSUM's
2011-11-03 17:24:38 [Message] fib_1618 -> Chat: but they couldn't stop the momentum
2011-11-03 17:25:08 [Message] fib_1618 -> Chat: we're coming up to probably the most significant areas of MCSUM resistance in history
2011-11-03 17:25:34 [Message] fib_1618 -> Chat: and there doesn't seem to be any decay in the forward motion
2011-11-03 17:26:00 [Message] fib_1618 -> Chat: sort of like needing the best speed you can get to break through a wall with a battering ram
2011-11-03 17:26:13 [Message] fib_1618 -> Chat: and if successful
2011-11-03 17:26:34 [Message] fib_1618 -> Chat: we could be looking at something rather extraordinary
2011-11-03 17:26:52 [Message] fib_1618 -> Chat: small little snapback in the MID volume MCSUM
2011-11-03 17:27:02 [Message] fib_1618 -> Chat: which just happens to be the +500 level
2011-11-03 17:27:26 [Message] fib_1618 -> Chat: and bringing up the rear is the SML volume MCSUM
2011-11-03 17:27:39 [Message] fib_1618 -> Chat: which is just about to move above its divergent highs
2011-11-03 17:28:11 [Message] fib_1618 -> Chat: and the TM volume MCSUM now has a reading of +580
2011-11-03 17:28:15 [Message] fib_1618 -> Chat: so...
2011-11-03 17:28:19 [Message] fib_1618 -> Chat: steady as she goes
2011-11-03 17:28:27 [Message] fib_1618 -> Chat: homework this weekend remains the same
2011-11-03 17:28:40 [Message] fib_1618 -> Chat: looking for advancing price patterns that are leading to the upside
2011-11-03 17:28:50 [Message] fib_1618 -> Chat: on to the volume Oscillators
2011-11-03 17:29:09 [Message] fib_1618 -> Chat: CVI's and STVO's
2011-11-03 17:29:14 [Message] fib_1618 -> Chat: are both neutral
2011-11-03 17:29:20 [Message] fib_1618 -> Chat: so one side is about to take control both on a near term and on a short term basis
2011-11-03 17:29:37 [Message] fib_1618 -> Chat: that of 1-2 weeks
2011-11-03 17:29:53 [Message] fib_1618 -> Chat: VTO's remain frothy
2011-11-03 17:30:03 [Message] fib_1618 -> Chat: but continue to suggest a strong uptrend in progress
2011-11-03 17:30:17 [Message] fib_1618 -> Chat: NYSE TRIN at .62
2011-11-03 17:30:28 [Message] fib_1618 -> Chat: Open 10 at 1.01
2011-11-03 17:30:33 [Message] fib_1618 -> Chat: minimally "oversold"
2011-11-03 17:30:46 [Message] fib_1618 -> Chat: NASDAQ TRIN at .82
2011-11-03 17:30:54 [Message] fib_1618 -> Chat: Open 10 at .98
2011-11-03 17:31:04 [Message] fib_1618 -> Chat: just shy of being minimally "oversold"
2011-11-03 17:31:17 [Message] fib_1618 -> Chat: TM TRIN at .76
2011-11-03 17:31:26 [Message] fib_1618 -> Chat: Open 10 at 1.01
2011-11-03 17:31:30 [Message] fib_1618 -> Chat: so....
2011-11-03 17:31:41 [Message] fib_1618 -> Chat: the bulls have all the control right now
2011-11-03 17:32:02 [Message] fib_1618 -> Chat: the bears might be able to set off a roadside bomb from time to time
2011-11-03 17:32:11 [Message] fib_1618 -> Chat: but they then go scampering back into their caves
2011-11-03 17:32:30 [Message] fib_1618 -> Chat: whether tomorrow will be the trigger or something next week
2011-11-03 17:32:54 [Message] fib_1618 -> Chat: the bottom line is that the odds of our moving to challenge this years highs is fairly solid
2011-11-03 17:33:10 [Message] fib_1618 -> Chat: and that we're getting more and more information that these same highs will be taken out
2011-11-03 17:33:35 [Message] fib_1618 -> Chat: and that this current advancing price structure is likely to last into February of next year
2011-11-03 17:33:47 [Message] fib_1618 -> Chat: other than that...there's nothing new to talk about
2011-11-03 17:34:23 [Message] fib_1618 -> Chat: any questions, comments, or insights out there???
2011-11-03 17:34:36 [Message] tracca -> Chat: thank you, is all I can say
2011-11-03 17:34:50 [Message] fib_1618 -> Chat: what did I do?
2011-11-03 17:34:58 [Message] tracca -> Chat: Brought light
2011-11-03 17:35:07 [Message] fib_1618 -> Chat: it's exciting isn't it?
2011-11-03 17:35:15 [Message] tracca -> Chat: definitely
2011-11-03 17:35:18 [Message] thespookyone -> Chat: let's get some fast pony's next week
2011-11-03 17:35:18 [Message] fib_1618 -> Chat: when you discover something and it tends to be consistent
2011-11-03 17:35:46 [Message] fib_1618 -> Chat: and for those of your friends who may worry about what's going on in Europe won't help things here
2011-11-03 17:36:23 [Message] fib_1618 -> Chat: I want to take you back to August 12, 1982
2011-11-03 17:36:36 [Message] fib_1618 -> Chat: anyone know why this date is important in stock market history?
2011-11-03 17:36:51 [Message] tracca -> Chat: bottom?
2011-11-03 17:36:55 [Message] thespookyone -> Chat: start of the bull
2011-11-03 17:37:03 [Message] fib_1618 -> Chat: yes, it was the bottom of the 1980's bull market
2011-11-03 17:37:15 [Message] fib_1618 -> Chat: do you know what news event took place on that very day?
2011-11-03 17:37:27 [Message] thespookyone -> Chat: Mexican debt crisis?
2011-11-03 17:37:40 [Message] fib_1618 -> Chat: you got it
2011-11-03 17:37:58 [Message] thespookyone -> Chat: well, I was trading - unfair edge, LOL
2011-11-03 17:38:12 [Message] fib_1618 -> Chat: Mexico defaulted on some 80 billion dollars of foreign debt which caused all of Latin America to collapse
2011-11-03 17:38:34 [Message] thespookyone -> Chat: great merchandising, though, eh? some things never change
2011-11-03 17:38:37 [Message] fib_1618 -> Chat: like I've been trying to point out recently over at TT
2011-11-03 17:38:48 [Message] fib_1618 -> Chat: the play is always the same...only the players change over time
2011-11-03 17:38:58 [Message] thespookyone -> Chat: so true
2011-11-03 17:39:03 [Message] fib_1618 -> Chat: great bull runs never start on good news
2011-11-03 17:39:15 [Message] fib_1618 -> Chat: they start when there is nothing by despair and angst
2011-11-03 17:39:31 [Message] thespookyone -> Chat: so, you were in the bear den? LOL (at TT)
2011-11-03 17:39:51 [Message] fib_1618 -> Chat: I can't help myself in trying to be helpful
2011-11-03 17:40:09 [Message] thespookyone -> Chat: we need that short fuel, behave! LOL
2011-11-03 17:40:14 [Message] fib_1618 -> Chat: lol
2011-11-03 17:40:25 [Message] fib_1618 -> Chat: there's plenty to go around, thank you very much
2011-11-03 17:40:33 [Message] fib_1618 -> Chat: hey
2011-11-03 17:40:36 [Message] fib_1618 -> Chat: once this goes away
2011-11-03 17:40:52 [Message] fib_1618 -> Chat: we'll have the President's subpoena to work with
2011-11-03 17:41:00 [Message] thespookyone -> Chat: ?
2011-11-03 17:41:05 [Message] fib_1618 -> Chat: didn't hear?
2011-11-03 17:41:08 [Message] thespookyone -> Chat: nope
2011-11-03 17:42:41 [Message] fib_1618 -> Chat: the President has been presented a subpoena for the records on his involvement with Solyndra
2011-11-03 17:43:32 [Message] fib_1618 -> Chat: one of several "green energy" businesses that took federal money and went BK
2011-11-03 17:43:42 [Message] fib_1618 -> Chat: we're now up to 4 firms that I've heard of
2011-11-03 17:43:49 [Message] thespookyone -> Chat: solar is such a scam at this point
2011-11-03 17:43:53 [Message] fib_1618 -> Chat: seems that green energy doesn't make any money
2011-11-03 17:44:01 [Message] thespookyone -> Chat: nope
2011-11-03 17:44:08 [Message] fib_1618 -> Chat: anyway
2011-11-03 17:44:14 [Message] fib_1618 -> Chat: in a strong bull market
2011-11-03 17:44:28 [Message] fib_1618 -> Chat: there will always be something out there to keep the majority from participating
2011-11-03 17:44:46 [Message] thespookyone -> Chat: my geothermal is smooth - but we don't have a proper electric grid to support mass use
2011-11-03 17:45:13 [Message] fib_1618 -> Chat: can you imagine how the average bear will feel like if we move to new highs this year?
2011-11-03 17:45:29 [Message] thespookyone -> Chat: oh yea...
2011-11-03 17:45:32 [Message] fib_1618 -> Chat: how many things can you throw at the market and STILL it moves higher?
2011-11-03 17:45:57 [Message] fib_1618 -> Chat: oh, and fundamentally
2011-11-03 17:46:08 [Message] fib_1618 -> Chat: want to guess what the current SPX P/E ratio is?
2011-11-03 17:46:14 [Message] thespookyone -> Chat: I was being honest earlier, I have no interest in the quick down moves-too much risk there
2011-11-03 17:46:21 [Message] thespookyone -> Chat: 11-13?
2011-11-03 17:46:24 [Message] fib_1618 -> Chat: yup
2011-11-03 17:46:34 [Message] fib_1618 -> Chat: historically in bottoming territory
2011-11-03 17:46:38 [Message] thespookyone -> Chat: old school low
2011-11-03 17:46:47 [Message] fib_1618 -> Chat: it's ridiculous
2011-11-03 17:46:53 [Message] fib_1618 -> Chat: anyway
2011-11-03 17:47:17 [Message] fib_1618 -> Chat: you don't want to stand in the way of a bull move when you have both fundamentals and technical condtions leading the way
2011-11-03 17:47:31 [Message] fib_1618 -> Chat: which also means
2011-11-03 17:47:51 [Message] fib_1618 -> Chat: many are going to be disappointed with the election outcome next year
2011-11-03 17:48:11 [Message] fib_1618 -> Chat: but that's for another time and place
2011-11-03 17:48:13 [Message] fib_1618 -> Chat: anything else?
2011-11-03 17:48:25 [Message] thespookyone -> Chat: thx much
2011-11-03 17:48:50 [Message] fib_1618 -> Chat: just go out and make some big bucks...and tell you friends
2011-11-03 17:49:22 [Message] thespookyone -> Chat: will do
2011-11-03 17:49:28 [Message] EricD -> Chat: Thanks loads
2011-11-03 17:49:31 [Message] fib_1618 -> Chat: least your close friends...I guess you wouldn't give too much of your secrets away
2011-11-03 17:49:35 [Message] fib_1618 -> Chat: always fun, and always my pleasure
2011-11-03 17:49:45 [Message] fib_1618 -> Chat: OK...if there's nothing else
2011-11-03 17:49:49 [Message] fib_1618 -> Chat: I'm going to take off
2011-11-03 17:49:54 [Message] fib_1618 -> Chat: everyone have a great weekend
2011-11-03 17:49:58 [Message] fib_1618 -> Chat: and we'll chat again on Tuesday
2011-11-03 17:50:00 [Message] fib_1618 -> Chat: good night

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