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fib_1618

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Reply with quote  #1 
2012-02-28 16:00:07 [Message] fib_1618 -> Chat: good day
2012-02-28 16:00:11 [Message] fib_1618 -> Chat: how is everyone?
2012-02-28 16:00:20 [Message] EricD -> Chat: Hi
2012-02-28 16:00:43 [Message] fib_1618 -> Chat: still hanging in there Eric?
2012-02-28 16:00:59 [Message] EricD -> Chat: Sure am
2012-02-28 16:01:35 [Message] fib_1618 -> Chat: while everyone else is squirming...
2012-02-28 16:02:14 [Message] fib_1618 -> Chat: OK...any questions or comments before we get started??
2012-02-28 16:04:18 [Message] fib_1618 -> Chat: as you can see I have posted our dates for March just above the chat board
2012-02-28 16:04:43 [Message] fib_1618 -> Chat: OK...let me get DP up and we'll get started
2012-02-28 16:05:26 [Message] fib_1618 -> Chat: the CO NYSE breadth MCO continued a bit lower today
2012-02-28 16:05:40 [Message] fib_1618 -> Chat: but still remains above the bottom registered last week
2012-02-28 16:05:48 [Message] fib_1618 -> Chat: going back to our last session on Thursday
2012-02-28 16:06:18 [Message] fib_1618 -> Chat: we had outlined definitive actions to take if we moved in one direction or the other
2012-02-28 16:06:20 [Message] fib_1618 -> Chat: to this juncture
2012-02-28 16:06:24 [Message] fib_1618 -> Chat: nothing has been triggered
2012-02-28 16:06:35 [Message] fib_1618 -> Chat: and the tape remains compressed
2012-02-28 16:06:59 [Message] fib_1618 -> Chat: with many small point changes on several of the breadth MCO's over the last couple of days
2012-02-28 16:07:08 [Message] fib_1618 -> Chat: looking at the NYSE CO breadth MCSUM
2012-02-28 16:07:14 [Message] fib_1618 -> Chat: and we see that we continue to decline
2012-02-28 16:07:20 [Message] fib_1618 -> Chat: but in an orderly fashion
2012-02-28 16:07:33 [Message] fib_1618 -> Chat: with not too much in the way of directional strength by the bears
2012-02-28 16:08:11 [Message] fib_1618 -> Chat: we also note that our minimum downside target for this "pause to refresh", the +750 level, is now on the radar
2012-02-28 16:08:32 [Message] fib_1618 -> Chat: so a near term gut check by the bulls is to be expected over the next couple of days
2012-02-28 16:09:00 [Message] fib_1618 -> Chat: the way things have been going, however, it would appear that many traders are going to make their decisions based on the jobs numbers
2012-02-28 16:10:11 [Message] fib_1618 -> Chat: looking at the calendar
2012-02-28 16:10:13 [Message] fib_1618 -> Chat: strange week
2012-02-28 16:10:15 [Message] fib_1618 -> Chat: one moment
2012-02-28 16:11:03 [Message] fib_1618 -> Chat: well...
2012-02-28 16:11:16 [Message] fib_1618 -> Chat: I would think that the jobs numbers would be out this Friday
2012-02-28 16:11:25 [Message] fib_1618 -> Chat: but looking at the calendar at WSJ and they don't have anything shown at all on Friday
2012-02-28 16:11:41 [Message] fib_1618 -> Chat: can anyone confirm?
2012-02-28 16:12:15 [Message] fib_1618 -> Chat: I don't even see anything on ADP
2012-02-28 16:12:25 [Message] fib_1618 -> Chat: darn leap year!
2012-02-28 16:12:40 [Message] fib_1618 -> Chat: everything is in chaos!
2012-02-28 16:13:17 [Message] fib_1618 -> Chat: well..
2012-02-28 16:13:27 [Message] fib_1618 -> Chat: since this is the first Friday of the month coming up
2012-02-28 16:13:41 [Message] fib_1618 -> Chat: one could assume that the jobs numbers will be given
2012-02-28 16:13:46 [Message] fib_1618 -> Chat: I can't think of a holiday this week
2012-02-28 16:13:52 [Message] fib_1618 -> Chat: so it must be a miss by the Journal
2012-02-28 16:13:55 [Message] fib_1618 -> Chat: anyway
2012-02-28 16:14:03 [Message] fib_1618 -> Chat: the market continues to be compressed here
2012-02-28 16:14:21 [Message] fib_1618 -> Chat: with the odds of an upside break higher than something to the downside
2012-02-28 16:14:27 [Message] fib_1618 -> Chat: in the meantime
2012-02-28 16:14:34 [Message] fib_1618 -> Chat: we just continue to sneak our way higher
2012-02-28 16:14:47 [Message] fib_1618 -> Chat: with the Dow closing above 13,000 today
2012-02-28 16:15:07 [Message] fib_1618 -> Chat: another small point change on the NYSE composite breadth MCO today
2012-02-28 16:15:43 [Message] fib_1618 -> Chat: with the NYSE breadth MCSUM supporting the +1200 level
2012-02-28 16:15:59 [Message] fib_1618 -> Chat: as you can see on the 1 year chart
2012-02-28 16:16:11 [Message] fib_1618 -> Chat: the individual postings remain congested
2012-02-28 16:16:28 [Message] fib_1618 -> Chat: with little in the way of breakdown from these same deeply "overbought" levels
2012-02-28 16:17:01 [Message] fib_1618 -> Chat: more importantly in all of this
2012-02-28 16:17:20 [Message] fib_1618 -> Chat: is that the NYSE breadth MCO has now been below its zero line for the better part of 3 weeks now
2012-02-28 16:17:47 [Message] fib_1618 -> Chat: which was our initial expectation back when it first moved below this same level
2012-02-28 16:17:55 [Message] fib_1618 -> Chat: so...the in this respect
2012-02-28 16:18:10 [Message] fib_1618 -> Chat: the bears are really running out of time here to break the back of this uptrend
2012-02-28 16:18:23 [Message] fib_1618 -> Chat: if they don't step up here in the next couple of days
2012-02-28 16:18:37 [Message] fib_1618 -> Chat: and with the market highly liquid
2012-02-28 16:18:58 [Message] fib_1618 -> Chat: the next sequence higher has all the potential of being quite robust in its character
2012-02-28 16:19:04 [Message] fib_1618 -> Chat: in other words
2012-02-28 16:19:18 [Message] fib_1618 -> Chat: the angle of ascent will move to an even higher degree of trend
2012-02-28 16:19:33 [Message] fib_1618 -> Chat: right now...
2012-02-28 16:19:45 [Message] fib_1618 -> Chat: the NYA looks to be traveling in a 40 degree angle
2012-02-28 16:20:00 [Message] fib_1618 -> Chat: so any acceleration here would be on the scale of a parabolic move
2012-02-28 16:20:18 [Message] fib_1618 -> Chat: (big heavy sigh)
2012-02-28 16:20:34 [Message] fib_1618 -> Chat: but for now
2012-02-28 16:20:42 [Message] fib_1618 -> Chat: we remain in a correctional structure
2012-02-28 16:20:47 [Message] fib_1618 -> Chat: with very little in the way of sellers
2012-02-28 16:21:13 [Message] fib_1618 -> Chat: small point change as well with the NASDAQ breadth MCO
2012-02-28 16:21:24 [Message] fib_1618 -> Chat: and another new recovery closing high today on the index
2012-02-28 16:22:06 [Message] fib_1618 -> Chat: providing a good example of how prices can continue to move in the direction of the trend even though it may not have the thrust behind it to do so
2012-02-28 16:22:11 [Message] fib_1618 -> Chat: in other words
2012-02-28 16:22:26 [Message] fib_1618 -> Chat: today's higher highs are based more on the momentum of the previous thrust
2012-02-28 16:22:30 [Message] fib_1618 -> Chat: while at the same time
2012-02-28 16:22:44 [Message] fib_1618 -> Chat: something like the NASDAQ breadth MCSUM can continue to move lower as we disengage the throttle
2012-02-28 16:22:56 [Message] fib_1618 -> Chat: we also note
2012-02-28 16:23:28 [Message] fib_1618 -> Chat: that today's NASDAQ breadth MCSUM reading is just above the point of "escape velocity" with a reading of +513
2012-02-28 16:23:54 [Message] fib_1618 -> Chat: so expect the bulls to attempt to hold this important support level in the next day or so
2012-02-28 16:24:10 [Message] fib_1618 -> Chat: and the only way they can do this is with new, fresh, comers
2012-02-28 16:24:30 [Message] fib_1618 -> Chat: moving to the NDX
2012-02-28 16:24:40 [Message] fib_1618 -> Chat: and we see that the index closed up another 1% today
2012-02-28 16:24:52 [Message] fib_1618 -> Chat: with the NDX breadth MCO moving higher as well
2012-02-28 16:25:18 [Message] fib_1618 -> Chat: and not only moving back above its zero line
2012-02-28 16:25:29 [Message] fib_1618 -> Chat: but the accelerated declining tops line has been violated as well
2012-02-28 16:26:06 [Message] fib_1618 -> Chat: so after any possible pause to snapback to the zero line near term
2012-02-28 16:26:37 [Message] fib_1618 -> Chat: the next hurdle here for the NDX breadth MCO is to move back above the simple declining tops line that intersects in and around the +25 level
2012-02-28 16:26:42 [Message] fib_1618 -> Chat: if this can be done
2012-02-28 16:27:06 [Message] fib_1618 -> Chat: then the probability will exist for another 2-3 week advance in the price index
2012-02-28 16:27:15 [Message] fib_1618 -> Chat: keep in mind here
2012-02-28 16:27:41 [Message] fib_1618 -> Chat: that both the NASDAQ and NDX price patterns are now in the meat area of the crash sequence we saw in these indices back in the 2000/2001 period
2012-02-28 16:27:55 [Message] fib_1618 -> Chat: so there is very little in the way of overhead resistance here for these price patterns
2012-02-28 16:28:28 [Message] fib_1618 -> Chat: we also have upside objectives that were given by the breadth MCSUM's here
2012-02-28 16:28:45 [Message] fib_1618 -> Chat: one moment...let me look at the chart again to remind me of what they were
2012-02-28 16:29:36 [Message] fib_1618 -> Chat: for the NDX - 2750
2012-02-28 16:30:02 [Message] fib_1618 -> Chat: for the COMPQ...we're there now at 3000
2012-02-28 16:30:17 [Message] fib_1618 -> Chat: in both cases
2012-02-28 16:30:38 [Message] fib_1618 -> Chat: there is nothing as yet showing up in both price patterns that would suggest a tradable top
2012-02-28 16:31:15 [Message] fib_1618 -> Chat: add to that, and with the exception of the NYSE CO A/D line, all of the other NYSE breadth A/D lines closed at all time highs last Friday
2012-02-28 16:31:37 [Message] fib_1618 -> Chat: and there's really nothing out there at this time suggesting a correctional price sequence
2012-02-28 16:31:48 [Message] fib_1618 -> Chat: and now
2012-02-28 16:32:09 [Message] fib_1618 -> Chat: with the minimal requirement of the MCO to stay below its zero line for 2-3 weeks
2012-02-28 16:32:38 [Message] fib_1618 -> Chat: that we have divergent "oversold" readings on the Stochastic measured on the NAMO and NYMO
2012-02-28 16:33:07 [Message] fib_1618 -> Chat: and an "oversold" NYSE Open 10 as of yesterday
2012-02-28 16:33:26 [Message] fib_1618 -> Chat: the odds remain very high that we still have more to go here to the upside
2012-02-28 16:33:51 [Message] fib_1618 -> Chat: small point change as well on the SPX breadth MCO
2012-02-28 16:34:17 [Message] fib_1618 -> Chat: and a new 3 year closing highs on the SPX index today
2012-02-28 16:35:06 [Message] fib_1618 -> Chat: the upside target for the SPX remains around the 1440 level
2012-02-28 16:35:27 [Message] fib_1618 -> Chat: at least we have more than enough energy behind the price action to get there
2012-02-28 16:35:47 [Message] fib_1618 -> Chat: Only 68 points away now
2012-02-28 16:36:20 [Message] fib_1618 -> Chat: where this same target was given back with the SPX was still trying to negotiate above the 1295 level
2012-02-28 16:36:35 [Message] fib_1618 -> Chat: oh...hello!
2012-02-28 16:36:48 [Message] fib_1618 -> Chat: new highs today on the OEX breadth MCO confirming the new recovery closing highs!
2012-02-28 16:37:38 [Message] fib_1618 -> Chat: we also broke above the declining tops line connecting the January and February peaks today
2012-02-28 16:38:09 [Message] fib_1618 -> Chat: interesting to note
2012-02-28 16:38:33 [Message] fib_1618 -> Chat: that the comparable upside target of 1440 for the SPX comes in at the 658 level for the OEX
2012-02-28 16:38:43 [Message] fib_1618 -> Chat: we closed today at 622
2012-02-28 16:38:53 [Message] fib_1618 -> Chat: 36 points away now
2012-02-28 16:39:03 [Message] fib_1618 -> Chat: here's the important thing in all of this
2012-02-28 16:39:11 [Message] fib_1618 -> Chat: the upside targets generated by the MCSUM are likely to be the point in which a correction in "time" is then likely to take place
2012-02-28 16:39:50 [Message] fib_1618 -> Chat: because the momentum of the move will be pretty much used up to get there
2012-02-28 16:39:53 [Message] fib_1618 -> Chat: however
2012-02-28 16:40:13 [Message] fib_1618 -> Chat: if we now get a new boost here at these high altitudes
2012-02-28 16:40:29 [Message] fib_1618 -> Chat: this will then add both time and price objectives to these same price patterns
2012-02-28 16:40:33 [Message] fib_1618 -> Chat: so..for the bears
2012-02-28 16:40:45 [Message] fib_1618 -> Chat: if they lose any control they might have here
2012-02-28 16:40:57 [Message] fib_1618 -> Chat: and we start breaking above resistance levels on the MCO
2012-02-28 16:41:11 [Message] fib_1618 -> Chat: then we will generate new higher price targets to work with
2012-02-28 16:41:15 [Message] fib_1618 -> Chat: and it just so happens
2012-02-28 16:41:25 [Message] fib_1618 -> Chat: these price targets will be the old all time price highs
2012-02-28 16:41:28 [Message] fib_1618 -> Chat: minimally
2012-02-28 16:42:30 [Message] fib_1618 -> Chat: for the OEX that would be around the 832 level
2012-02-28 16:42:44 [Message] fib_1618 -> Chat: for the SPX that would be 1550
2012-02-28 16:43:06 [Message] fib_1618 -> Chat: and if we can take out the recent high water marks on the various MCSUM's
2012-02-28 16:43:25 [Message] fib_1618 -> Chat: then we will be fully in the clear to move into uncharted price territory
2012-02-28 16:43:46 [Message] fib_1618 -> Chat: but...we still have work to do
2012-02-28 16:44:01 [Message] fib_1618 -> Chat: so let's be sure to remember our discipline and context in all of this
2012-02-28 16:44:54 [Message] fib_1618 -> Chat: the first thing we need to see before we can even think about the all time highs is whether we can break above the current declining tops lines on the breadth and volume MCO
2012-02-28 16:45:25 [Message] fib_1618 -> Chat: if that can be done...the odds will then increase of the likelihood of this happening
2012-02-28 16:45:47 [Message] fib_1618 -> Chat: after showing some good strength last week
2012-02-28 16:46:03 [Message] fib_1618 -> Chat: the Dow breadth MCO moved back below its zero line again
2012-02-28 16:46:18 [Message] fib_1618 -> Chat: and has now snapped back up to this same line of neutrality
2012-02-28 16:46:35 [Message] fib_1618 -> Chat: so our fear of the generals leading the troops last week is a memory of the past
2012-02-28 16:46:59 [Message] fib_1618 -> Chat: and we're now in a better intramarket relationship for a continued advancing price structure
2012-02-28 16:47:44 [Message] fib_1618 -> Chat: the MID breadth MCO continued to sag today
2012-02-28 16:47:59 [Message] fib_1618 -> Chat: and we almost got the divergence pattern we were looking for last week
2012-02-28 16:48:22 [Message] fib_1618 -> Chat: unfortunately, prices did not close below the lows of last week as yet
2012-02-28 16:48:28 [Message] fib_1618 -> Chat: but on the positive side
2012-02-28 16:48:40 [Message] fib_1618 -> Chat: there isn't much in the way of sellers either at this juncture
2012-02-28 16:49:01 [Message] fib_1618 -> Chat: and this pretty much keeps us within our trading range
2012-02-28 16:49:31 [Message] fib_1618 -> Chat: moving to the SML
2012-02-28 16:49:49 [Message] fib_1618 -> Chat: and it now looks like we have now completed our triangle pattern of which we talked about last week
2012-02-28 16:49:53 [Message] fib_1618 -> Chat: if that's the case
2012-02-28 16:50:05 [Message] fib_1618 -> Chat: we should move sharply higher from here as soon as tomorrow
2012-02-28 16:50:34 [Message] fib_1618 -> Chat: looking at the SML breadth MCO components
2012-02-28 16:50:57 [Message] fib_1618 -> Chat: and we see that the 10% Trend has moved to lower lows
2012-02-28 16:51:03 [Message] fib_1618 -> Chat: while the MCO itself hasn't
2012-02-28 16:51:14 [Message] fib_1618 -> Chat: this kind of internal divergence is usually seen at the end of a triangle
2012-02-28 16:51:34 [Message] fib_1618 -> Chat: so unless the selling picks up here and now
2012-02-28 16:51:54 [Message] fib_1618 -> Chat: we have evidence suggesting that this pause to refresh is close to being complete
2012-02-28 16:52:40 [Message] fib_1618 -> Chat: especially since we have the SML breadth MCSUM now approaching its +500 level after relieving its highly "overbought" readings
2012-02-28 16:52:51 [Message] fib_1618 -> Chat: another good case in point here
2012-02-28 16:53:17 [Message] fib_1618 -> Chat: where the MCSUM moved from a reading of just above +1000 and is now down to a reading of +610
2012-02-28 16:53:32 [Message] fib_1618 -> Chat: and prices have done nothing more than move sideways
2012-02-28 16:53:54 [Message] fib_1618 -> Chat: this is the expectation when we see highly "overbought" MCSUM readings
2012-02-28 16:54:11 [Message] thespookyone -> Chat: seems an odd place to stop, would we not move closer to 500?
2012-02-28 16:54:22 [Message] fib_1618 -> Chat: and it will only after prices move to new highs where its then possible to a finished rising pattern sequence
2012-02-28 16:54:31 [Message] fib_1618 -> Chat: well...it could Lew
2012-02-28 16:54:44 [Message] fib_1618 -> Chat: but the rhythm here is suggesting that it may not need to
2012-02-28 16:54:59 [Message] fib_1618 -> Chat: when you have too much liquidity absorbing any selling that's taking place with prices continue to move sideways
2012-02-28 16:55:20 [Message] fib_1618 -> Chat: and the battle between buyers and sellers remain compressed
2012-02-28 16:55:54 [Message] fib_1618 -> Chat: the odds suggest that all the market is really waiting for now is for a reason to keep pushing onward
2012-02-28 16:56:02 [Message] fib_1618 -> Chat: look at today
2012-02-28 16:56:33 [Message] fib_1618 -> Chat: we had durable goods down 4%
2012-02-28 16:56:38 [Message] fib_1618 -> Chat: and STILL the market rose
2012-02-28 16:56:52 [Message] fib_1618 -> Chat: money is discounting all the bad here
2012-02-28 16:56:59 [Message] fib_1618 -> Chat: and pretty much has done so
2012-02-28 16:57:10 [Message] fib_1618 -> Chat: but now we're in the momentum stage of the advance
2012-02-28 16:57:26 [Message] fib_1618 -> Chat: so unless we start to get reasons why money should continue to push in this direction
2012-02-28 16:57:46 [Message] fib_1618 -> Chat: eventually, any bad news WILL make a difference
2012-02-28 16:58:03 [Message] fib_1618 -> Chat: but at the same time there's no selling going on here
2012-02-28 16:58:07 [Message] fib_1618 -> Chat: which means
2012-02-28 16:58:16 [Message] fib_1618 -> Chat: all the buyers have to do is meet the ask
2012-02-28 16:58:28 [Message] fib_1618 -> Chat: there's no resistance by the bids
2012-02-28 16:58:34 [Message] fib_1618 -> Chat: and up we go
2012-02-28 16:58:39 [Message] thespookyone -> Chat: sure, the 250 levels are just so magical. I wouldn't be surprised to get closer-it may mean very little, price wise
2012-02-28 16:58:40 [Message] fib_1618 -> Chat: one day at a time
2012-02-28 16:58:48 [Message] fib_1618 -> Chat: climbing the proverbial "wall of worry"
2012-02-28 16:59:05 [Message] fib_1618 -> Chat: the rhythm here suggests that we may get there
2012-02-28 16:59:10 [Message] fib_1618 -> Chat: but we don't have to
2012-02-28 16:59:20 [Message] thespookyone -> Chat: cool, thx
2012-02-28 16:59:53 [Message] fib_1618 -> Chat: much of the last several days of movement has been muted by this same desire by the market to show a better position of imbalance
2012-02-28 17:00:23 [Message] fib_1618 -> Chat: and like the MCO/MCSUM relationship told us point blank 3 weeks ago
2012-02-28 17:00:32 [Message] fib_1618 -> Chat: that we were likely to have a choppy consolidation pattern with an upside bias
2012-02-28 17:00:55 [Message] fib_1618 -> Chat: you can't get any better than what we've seen so far
2012-02-28 17:01:10 [Message] fib_1618 -> Chat: but as the MCSUM continues to move to lower levels
2012-02-28 17:01:24 [Message] fib_1618 -> Chat: the bears will then be able to have more of an attempt to have their say
2012-02-28 17:01:31 [Message] fib_1618 -> Chat: but in the last week
2012-02-28 17:02:01 [Message] fib_1618 -> Chat: every time the sellers try to knock the chip off the shoulder of the buyers
2012-02-28 17:02:05 [Message] fib_1618 -> Chat: they miss
2012-02-28 17:02:14 [Message] fib_1618 -> Chat: look at yesterday
2012-02-28 17:02:18 [Message] fib_1618 -> Chat: a very typical day
2012-02-28 17:02:24 [Message] fib_1618 -> Chat: hard sell off in the morning
2012-02-28 17:02:38 [Message] fib_1618 -> Chat: the beach ball was pushed under the water line of the deep end of the pool
2012-02-28 17:02:52 [Message] fib_1618 -> Chat: and what happened when this pressure was released?
2012-02-28 17:02:58 [Message] fib_1618 -> Chat: whoosh...up the market went
2012-02-28 17:03:31 [Message] fib_1618 -> Chat: again...this was forecasted by the configurations of the MCO and its components, along with the readings on the MCSUM
2012-02-28 17:04:59 [Message] fib_1618 -> Chat: and now we STILL have the A/D line at all time highs!
2012-02-28 17:05:22 [Message] fib_1618 -> Chat: how the heck are prices going to have any chance at all of sagging if everyone is a winner?
2012-02-28 17:05:27 [Message] fib_1618 -> Chat: who exactly is going to sell?
2012-02-28 17:05:45 [Message] fib_1618 -> Chat: add to this that you have 3 year highs in the primary indices
2012-02-28 17:05:57 [Message] fib_1618 -> Chat: and ELEVEN year highs in the secondaries!
2012-02-28 17:06:03 [Message] fib_1618 -> Chat: again...just WHO is going to sell here?
2012-02-28 17:06:46 [Message] fib_1618 -> Chat: we've been patiently waiting for confirmed technical breakdowns for 3-4 weeks now
2012-02-28 17:06:48 [Message] fib_1618 -> Chat: and nothing
2012-02-28 17:07:02 [Message] fib_1618 -> Chat: frustrating for some
2012-02-28 17:07:13 [Message] fib_1618 -> Chat: because it doesn't seem that anything is working
2012-02-28 17:07:15 [Message] fib_1618 -> Chat: but it is
2012-02-28 17:07:20 [Message] fib_1618 -> Chat: it always has been
2012-02-28 17:07:34 [Message] fib_1618 -> Chat: we are in a strong uptrend
2012-02-28 17:07:36 [Message] fib_1618 -> Chat: so strong
2012-02-28 17:07:53 [Message] fib_1618 -> Chat: that even with the short term trend of breadth negative for the last 3 weeks
2012-02-28 17:07:57 [Message] fib_1618 -> Chat: prices continue to make new highs
2012-02-28 17:08:08 [Message] fib_1618 -> Chat: that IS strength
2012-02-28 17:08:31 [Message] thespookyone -> Chat: you can tell who is short by seeing who whines about the fundamentals
2012-02-28 17:08:36 [Message] fib_1618 -> Chat: TM breadth MCO also had a small point change tonight
2012-02-28 17:08:48 [Message] fib_1618 -> Chat: it always amazes me
2012-02-28 17:08:57 [Message] fib_1618 -> Chat: well..not amazes
2012-02-28 17:09:14 [Message] fib_1618 -> Chat: but people tend to show their true colors during times like this
2012-02-28 17:09:21 [Message] fib_1618 -> Chat: those who say they are technicians
2012-02-28 17:09:39 [Message] fib_1618 -> Chat: and look for evidence to support their calls
2012-02-28 17:09:53 [Message] fib_1618 -> Chat: are really emotionally tied to the fundamentals
2012-02-28 17:09:59 [Message] thespookyone -> Chat: funny was just thinking same!
2012-02-28 17:10:02 [Message] fib_1618 -> Chat: and they eventually get stuck
2012-02-28 17:10:46 [Message] fib_1618 -> Chat: we have talked about this in the past that it's easy to recognize those who work hard in this business by taking the time to understand the tools of the trade
2012-02-28 17:11:04 [Message] fib_1618 -> Chat: from those who are just in it to support a bias and are looking for glory
2012-02-28 17:11:16 [Message] fib_1618 -> Chat: Elliotticians are the worse offenders of this
2012-02-28 17:11:38 [Message] thespookyone -> Chat: it's been a great time to sit back and ride the wave...
2012-02-28 17:11:40 [Message] fib_1618 -> Chat: anyway
2012-02-28 17:11:54 [Message] fib_1618 -> Chat: it's been an extraordinary time
2012-02-28 17:11:58 [Message] fib_1618 -> Chat: the last 10 years
2012-02-28 17:12:09 [Message] fib_1618 -> Chat: we have seen liquidity levels rise so high
2012-02-28 17:12:29 [Message] fib_1618 -> Chat: that much of any long positions have been pretty easy to work with
2012-02-28 17:12:37 [Message] fib_1618 -> Chat: as long as you don't listen to the news
2012-02-28 17:12:46 [Message] fib_1618 -> Chat: the key here is simple
2012-02-28 17:12:54 [Message] fib_1618 -> Chat: all of the negatives that are out there today
2012-02-28 17:13:11 [Message] fib_1618 -> Chat: were the same negatives we've had over the centuries
2012-02-28 17:13:18 [Message] fib_1618 -> Chat: too much debt
2012-02-28 17:13:35 [Message] fib_1618 -> Chat: governments being questioned
2012-02-28 17:13:52 [Message] fib_1618 -> Chat: political factions causing disruptions
2012-02-28 17:13:54 [Message] fib_1618 -> Chat: and still
2012-02-28 17:14:12 [Message] fib_1618 -> Chat: the trend for equities has been up since the Dark Ages
2012-02-28 17:14:34 [Message] fib_1618 -> Chat: those who have been around for any length of time knows
2012-02-28 17:14:38 [Message] fib_1618 -> Chat: and has heard
2012-02-28 17:14:45 [Message] fib_1618 -> Chat: everything that has been said today about the future
2012-02-28 17:14:58 [Message] fib_1618 -> Chat: and yes, it's worth paying attention to
2012-02-28 17:15:18 [Message] fib_1618 -> Chat: but none of this has anything to do on why prices rise and fall in the different asset classes
2012-02-28 17:15:39 [Message] fib_1618 -> Chat: the only thing that really matters is how much liquidity there is in the system that can be invested in the markets
2012-02-28 17:15:46 [Message] fib_1618 -> Chat: if the cost of money is low
2012-02-28 17:15:58 [Message] fib_1618 -> Chat: than prices will rise
2012-02-28 17:16:05 [Message] fib_1618 -> Chat: if the cost of money is high
2012-02-28 17:16:10 [Message] fib_1618 -> Chat: then prices decline
2012-02-28 17:16:42 [Message] fib_1618 -> Chat: it's always a case of money SUPPLY and the amount of DEMAND that's available
2012-02-28 17:17:11 [Message] fib_1618 -> Chat: watch the Prius here
2012-02-28 17:17:30 [Message] fib_1618 -> Chat: the demand for high mileage cars is now outstripping the supply
2012-02-28 17:17:39 [Message] fib_1618 -> Chat: and when that happens...the price will go higher
2012-02-28 17:17:47 [Message] fib_1618 -> Chat: it's the same thing with equities
2012-02-28 17:17:50 [Message] fib_1618 -> Chat: debt
2012-02-28 17:17:52 [Message] fib_1618 -> Chat: commodities
2012-02-28 17:17:55 [Message] fib_1618 -> Chat: gold
2012-02-28 17:18:03 [Message] fib_1618 -> Chat: speaking of which
2012-02-28 17:18:16 [Message] fib_1618 -> Chat: we now have new upside price objectives for gold that were generated today of around $2250
2012-02-28 17:18:25 [Message] fib_1618 -> Chat: problem is
2012-02-28 17:18:54 [Message] fib_1618 -> Chat: the PM equity A/D lines aren't quite there yet to confirm the move
2012-02-28 17:18:57 [Message] fib_1618 -> Chat: UNLESS
2012-02-28 17:19:06 [Message] fib_1618 -> Chat: this is part of an Elliott 5th wave in gold
2012-02-28 17:19:10 [Message] fib_1618 -> Chat: if that's the case
2012-02-28 17:19:28 [Message] fib_1618 -> Chat: then the PM and XAU A/D lines will tend not confirm the moves in the precious metals
2012-02-28 17:20:00 [Message] fib_1618 -> Chat: but Silver is now back above $35.00
2012-02-28 17:20:16 [Message] fib_1618 -> Chat: and I still have upside longer term targets for Silver of around $65
2012-02-28 17:20:49 [Message] fib_1618 -> Chat: wow...Silver was up $1.50 today!
2012-02-28 17:21:16 [Message] fib_1618 -> Chat: and if you look at the daily pattern from the 2011 top
2012-02-28 17:21:33 [Message] fib_1618 -> Chat: we have a clean corrective 3 wave pattern structure that would suggest a bottom
2012-02-28 17:21:46 [Message] fib_1618 -> Chat: hey Lew
2012-02-28 17:21:56 [Message] fib_1618 -> Chat: check out cash Silver in line form...daily
2012-02-28 17:22:12 [Message] fib_1618 -> Chat: see the nice 5 down into the 27.00 lows?
2012-02-28 17:22:41 [Message] fib_1618 -> Chat: back to gold for a moment
2012-02-28 17:22:52 [Message] fib_1618 -> Chat: any close above $1800 would be a buy for this same $2250 target
2012-02-28 17:23:11 [Message] fib_1618 -> Chat: I'll have to work with the price target again
2012-02-28 17:23:27 [Message] fib_1618 -> Chat: but the longer term target from 2008 lows was $2250 with the first target being $1850
2012-02-28 17:23:47 [Message] fib_1618 -> Chat: back to DP
2012-02-28 17:24:16 [Message] fib_1618 -> Chat: let's go to the volume MCO's and see if they might be showing some leadership here
2012-02-28 17:24:30 [Message] fib_1618 -> Chat: the CO NYSE volume MCO did close higher today
2012-02-28 17:24:43 [Message] fib_1618 -> Chat: and is now leading its breadth cousin here with the breadth MCO moving lower today
2012-02-28 17:25:17 [Message] fib_1618 -> Chat: and if you want to see proof of how weak the sellers have been
2012-02-28 17:25:26 [Message] fib_1618 -> Chat: just look at the NYSE CO volume MCSUM
2012-02-28 17:25:58 [Message] fib_1618 -> Chat: as we topped out at around +1250 and are only now approaching the +1000 level
2012-02-28 17:26:04 [Message] fib_1618 -> Chat: if the MCSUM turns higher from this juncture
2012-02-28 17:26:23 [Message] fib_1618 -> Chat: this is a very bullish indication of how strong the internals are right now
2012-02-28 17:26:36 [Message] fib_1618 -> Chat: wow..
2012-02-28 17:26:51 [Message] fib_1618 -> Chat: small point change on the NYSE composite volume MCO
2012-02-28 17:27:03 [Message] fib_1618 -> Chat: and it was higher here too
2012-02-28 17:27:38 [Message] fib_1618 -> Chat: here's another good example of weak the sellers have been here
2012-02-28 17:27:48 [Message] fib_1618 -> Chat: look at the NYSE volume MCSUM close up chart
2012-02-28 17:28:00 [Message] fib_1618 -> Chat: and notice the two large gap expansions
2012-02-28 17:28:08 [Message] fib_1618 -> Chat: and notice what happened after
2012-02-28 17:28:11 [Message] fib_1618 -> Chat: one gap lead to an upside move, the other showed a slowing of progress to the downside
2012-02-28 17:28:15 [Message] fib_1618 -> Chat: no follow through at all
2012-02-28 17:28:27 [Message] fib_1618 -> Chat: it's as if those who were going to sell did as a knew jerk reaction
2012-02-28 17:28:44 [Message] fib_1618 -> Chat: and there's really nobody else out there to build on this negative push
2012-02-28 17:29:19 [Message] fib_1618 -> Chat: the NASDAQ volume MCO is now back up to its zero line
2012-02-28 17:29:40 [Message] fib_1618 -> Chat: and notice how we're starting to see a slight curve higher in the NASDAQ volume MCSUM
2012-02-28 17:30:06 [Message] fib_1618 -> Chat: and we're doing this at an almost improbable level above +1000
2012-02-28 17:30:39 [Message] fib_1618 -> Chat: all we need now is to take out the last reaction high we see on this MCO
2012-02-28 17:30:51 [Message] fib_1618 -> Chat: and that will change the balance of power from corrective to bullish
2012-02-28 17:31:00 [Message] fib_1618 -> Chat: ha!
2012-02-28 17:31:09 [Message] fib_1618 -> Chat: look what we did today in the NDX breadth MCO!
2012-02-28 17:31:19 [Message] fib_1618 -> Chat: wow
2012-02-28 17:31:29 [Message] fib_1618 -> Chat: this is starting to get really exciting here
2012-02-28 17:32:03 [Message] fib_1618 -> Chat: moves like this we don't usually see unless the market gets fully washed out first
2012-02-28 17:32:11 [Message] fib_1618 -> Chat: like 2002 and 2009
2012-02-28 17:32:20 [Message] fib_1618 -> Chat: but we're getting it
2012-02-28 17:32:39 [Message] fib_1618 -> Chat: oh wow
2012-02-28 17:32:41 [Message] fib_1618 -> Chat: what do you think?
2012-02-28 17:32:54 [Message] fib_1618 -> Chat: did be break above the top on the SPX volume MCO?
2012-02-28 17:33:04 [Message] fib_1618 -> Chat: sure is close
2012-02-28 17:33:07 [Message] thespookyone -> Chat: I think the charts are acting like 2009-with a better slope
2012-02-28 17:33:18 [Message] fib_1618 -> Chat: for confirmation we need to move above the +10 area to be sure
2012-02-28 17:33:29 [Message] fib_1618 -> Chat: agreed Lew
2012-02-28 17:33:37 [Message] fib_1618 -> Chat: but the angle of ascent is a higher degree
2012-02-28 17:33:48 [Message] thespookyone -> Chat: yes
2012-02-28 17:33:53 [Message] fib_1618 -> Chat: where in 2009 the angle was maybe 25-30%
2012-02-28 17:33:57 [Message] fib_1618 -> Chat: now it's up to 45%
2012-02-28 17:34:14 [Message] fib_1618 -> Chat: and we may be again accelerating here (again)
2012-02-28 17:34:20 [Message] fib_1618 -> Chat: one things for sure
2012-02-28 17:34:38 [Message] fib_1618 -> Chat: the old adage of "never short a dull market" seems very appropriate at this juncture
2012-02-28 17:35:05 [Message] fib_1618 -> Chat: the underlying rhythm, harmonics, remains extraordinarily strong
2012-02-28 17:35:25 [Message] thespookyone -> Chat: Primary 3
2012-02-28 17:35:26 [Message] fib_1618 -> Chat: wow
2012-02-28 17:35:27 [Message] fib_1618 -> Chat: my my
2012-02-28 17:35:31 [Message] fib_1618 -> Chat: look at the OEX volume MCO!
2012-02-28 17:35:44 [Message] fib_1618 -> Chat: getting goose bumps here
2012-02-28 17:35:53 [Message] fib_1618 -> Chat: it might be Primary 3
2012-02-28 17:35:55 [Message] fib_1618 -> Chat: it could be
2012-02-28 17:36:03 [Message] fib_1618 -> Chat: this is getting ridiculous
2012-02-28 17:36:18 [Message] fib_1618 -> Chat: the bears are in BIG trouble
2012-02-28 17:36:35 [Message] thespookyone -> Chat: no prisoners  taken...
2012-02-28 17:36:45 [Message] fib_1618 -> Chat: the Dow volume MCO is echoing its breadth cousin
2012-02-28 17:36:53 [Message] fib_1618 -> Chat: that's good
2012-02-28 17:36:58 [Message] fib_1618 -> Chat: OK...here's the key
2012-02-28 17:37:05 [Message] fib_1618 -> Chat: the MID and SML...let's see what we got
2012-02-28 17:37:13 [Message] fib_1618 -> Chat: whew
2012-02-28 17:37:15 [Message] fib_1618 -> Chat: good
2012-02-28 17:37:17 [Message] fib_1618 -> Chat: lol
2012-02-28 17:37:26 [Message] fib_1618 -> Chat: if they were making higher highs
2012-02-28 17:37:39 [Message] fib_1618 -> Chat: I would have thrown in the towel on the Primary 3 idea
2012-02-28 17:37:43 [Message] fib_1618 -> Chat: but they're hanging in there
2012-02-28 17:38:00 [Message] fib_1618 -> Chat: with the key being for the MID
2012-02-28 17:38:05 [Message] fib_1618 -> Chat: and really for all of the breadth and volume MCO's
2012-02-28 17:38:18 [Message] fib_1618 -> Chat: if we can take out the reaction highs that we see just above the zero line
2012-02-28 17:38:30 [Message] fib_1618 -> Chat: we will then be able to move with very little friction to the upside
2012-02-28 17:38:37 [Message] fib_1618 -> Chat: that would mean
2012-02-28 17:38:45 [Message] fib_1618 -> Chat: any corrections will tend to continue to be "on the fly"...of the intraday variety
2012-02-28 17:39:01 [Message] fib_1618 -> Chat: peaking with the cash open in New York
2012-02-28 17:39:09 [Message] fib_1618 -> Chat: just like we've been seeing now for the past 2 months
2012-02-28 17:39:33 [Message] fib_1618 -> Chat: OK...still showing some weakness with the SML volume MCO
2012-02-28 17:39:39 [Message] fib_1618 -> Chat: so the one thing we can take from this
2012-02-28 17:39:50 [Message] fib_1618 -> Chat: is that we're seeing some nice buying with the cream stocks
2012-02-28 17:39:57 [Message] fib_1618 -> Chat: in each exchange
2012-02-28 17:40:05 [Message] fib_1618 -> Chat: the NDX, SPX and OEX
2012-02-28 17:40:06 [Message] fib_1618 -> Chat: now
2012-02-28 17:40:15 [Message] fib_1618 -> Chat: this could very likely be end of month portfolio buying
2012-02-28 17:40:33 [Message] fib_1618 -> Chat: so we have to keep this in mind
2012-02-28 17:40:34 [Message] fib_1618 -> Chat: however
2012-02-28 17:40:53 [Message] fib_1618 -> Chat: if we start to see strength come into the MID and SML and COMPQ in the next couple of days
2012-02-28 17:41:12 [Message] fib_1618 -> Chat: this would then suggest that another powerful leg higher would be underway
2012-02-28 17:41:21 [Message] fib_1618 -> Chat: (if that's even possible)
2012-02-28 17:41:45 [Message] fib_1618 -> Chat: let's take a moment and look at the SML price pattern strictly as chartists
2012-02-28 17:42:10 [Message] fib_1618 -> Chat: look at the way the price pattern is moving sideways, consolidating, right at the old all time highs
2012-02-28 17:42:22 [Message] fib_1618 -> Chat: this serves as both a test of these prior highs
2012-02-28 17:42:48 [Message] fib_1618 -> Chat: and the consolidation then acts as a launching base for prices to continue in the direction of this same uptrend
2012-02-28 17:43:05 [Message] fib_1618 -> Chat: the longer we are able to test these same levels without falling out of the range
2012-02-28 17:43:22 [Message] fib_1618 -> Chat: the longer and stronger the eventual price gain on the breakout
2012-02-28 17:43:51 [Message] fib_1618 -> Chat: plus
2012-02-28 17:43:57 [Message] fib_1618 -> Chat: we have our triangle idea working here
2012-02-28 17:44:09 [Message] fib_1618 -> Chat: let me see if I can get a breakout objective of the base
2012-02-28 17:44:47 [Message] fib_1618 -> Chat: looks like it's good for about 25 SML points
2012-02-28 17:45:18 [Message] fib_1618 -> Chat: above that we will need to see the MCO move to higher highs
2012-02-28 17:45:25 [Message] fib_1618 -> Chat: the higher it travels
2012-02-28 17:45:28 [Message] fib_1618 -> Chat: the more energy provided
2012-02-28 17:45:35 [Message] fib_1618 -> Chat: and the more energy provided
2012-02-28 17:45:48 [Message] fib_1618 -> Chat: the more momentum we get after the engines shut down
2012-02-28 17:46:02 [Message] fib_1618 -> Chat: but here again
2012-02-28 17:46:25 [Message] fib_1618 -> Chat: if the SML is at all time highs
2012-02-28 17:46:32 [Message] fib_1618 -> Chat: who exactly is going to sell?
2012-02-28 17:46:48 [Message] fib_1618 -> Chat: since everyone, in theory, are winners?
2012-02-28 17:47:27 [Message] fib_1618 -> Chat: this is why moving to new higher levels, and especially new all time high levels, is never something to look the other way from
2012-02-28 17:48:01 [Message] fib_1618 -> Chat: eventually, of course, valuations will become high in relation to the amount of liquidity is out there
2012-02-28 17:48:06 [Message] fib_1618 -> Chat: but until that happens
2012-02-28 17:48:08 [Message] fib_1618 -> Chat: again...
2012-02-28 17:48:14 [Message] fib_1618 -> Chat: just WHO is going to sell?
2012-02-28 17:48:18 [Message] fib_1618 -> Chat: not me
2012-02-28 17:48:22 [Message] fib_1618 -> Chat: not anyone here
2012-02-28 17:48:39 [Message] fib_1618 -> Chat: not the majority
2012-02-28 17:48:49 [Message] fib_1618 -> Chat: to wit
2012-02-28 17:49:01 [Message] fib_1618 -> Chat: if prices are at levels never seen before
2012-02-28 17:49:06 [Message] fib_1618 -> Chat: and everyone is making money
2012-02-28 17:49:16 [Message] fib_1618 -> Chat: does that turn the economy around?
2012-02-28 17:49:24 [Message] fib_1618 -> Chat: since we're all feeling good?
2012-02-28 17:49:32 [Message] fib_1618 -> Chat: and wealthy?
2012-02-28 17:49:41 [Message] fib_1618 -> Chat: it's always been a case of the "chicken or the egg" when it comes to economics
2012-02-28 17:49:57 [Message] fib_1618 -> Chat: but as a technician
2012-02-28 17:49:59 [Message] fib_1618 -> Chat: we don't really care
2012-02-28 17:50:10 [Message] fib_1618 -> Chat: all we need to know is...
2012-02-28 17:50:20 [Message] fib_1618 -> Chat: is there enough money in the system to support higher prices or not?
2012-02-28 17:50:31 [Message] fib_1618 -> Chat: and right now...there's more than ample liquidity
2012-02-28 17:50:41 [Message] fib_1618 -> Chat: and that's what counts
2012-02-28 17:50:58 [Message] fib_1618 -> Chat: and a zero line snapback to the TM volume MCO as well
2012-02-28 17:51:02 [Message] fib_1618 -> Chat: so....
2012-02-28 17:51:31 [Message] fib_1618 -> Chat: the bulls still don't have enough substantive data behind them as yet to really make this thing "go"
2012-02-28 17:51:50 [Message] fib_1618 -> Chat: and the bears do have this window of opportunity still open to them
2012-02-28 17:51:59 [Message] fib_1618 -> Chat: but this same window is closing rapidly now
2012-02-28 17:52:23 [Message] fib_1618 -> Chat: let's see how things look with the volume oscillators
2012-02-28 17:52:41 [Message] fib_1618 -> Chat: CVI's are mixed
2012-02-28 17:52:54 [Message] fib_1618 -> Chat: but seeing recent strength with the OEX and NDX
2012-02-28 17:53:04 [Message] fib_1618 -> Chat: which again could be end of month stuff
2012-02-28 17:53:24 [Message] fib_1618 -> Chat: STVO's are on the bullish side of neutral
2012-02-28 17:53:34 [Message] fib_1618 -> Chat: but not even close to be "overbought"
2012-02-28 17:53:52 [Message] fib_1618 -> Chat: VTO's continue to suggest a strong uptrend in progress....that hasn't changed in over a month
2012-02-28 17:54:18 [Message] fib_1618 -> Chat: NYSE TRIN at .90
2012-02-28 17:54:31 [Message] fib_1618 -> Chat: Open 10 now at .99
2012-02-28 17:54:39 [Message] fib_1618 -> Chat: still close to being "oversold"
2012-02-28 17:54:47 [Message] fib_1618 -> Chat: but the buyers are tip-toeing in now
2012-02-28 17:55:02 [Message] fib_1618 -> Chat: NASDAQ TRIN at .55
2012-02-28 17:55:10 [Message] fib_1618 -> Chat: ouch!
2012-02-28 17:55:15 [Message] fib_1618 -> Chat: Open 10 now at .83
2012-02-28 17:55:29 [Message] fib_1618 -> Chat: but lots of strong buying there
2012-02-28 17:55:49 [Message] fib_1618 -> Chat: with this  I would consider following this buying considering where we are in the longer term price pattern
2012-02-28 17:55:50 [Message] fib_1618 -> Chat: remember
2012-02-28 17:56:00 [Message] fib_1618 -> Chat: when you have crash like events occur in a price pattern
2012-02-28 17:56:08 [Message] fib_1618 -> Chat: when the tide comes back in
2012-02-28 17:56:24 [Message] fib_1618 -> Chat: we usually see prices come back to just as fast as when it was lost
2012-02-28 17:56:27 [Message] fib_1618 -> Chat: think of a gap
2012-02-28 17:56:36 [Message] fib_1618 -> Chat: it's the same kind of vacuum that's created
2012-02-28 17:56:46 [Message] fib_1618 -> Chat: first it's new highs
2012-02-28 17:56:53 [Message] fib_1618 -> Chat: then traders are forced to cover
2012-02-28 17:56:58 [Message] fib_1618 -> Chat: then those sitting on the fence come in as they don't want to miss out
2012-02-28 17:57:12 [Message] fib_1618 -> Chat: and then everyone sees what's happening and all rush in at the same time
2012-02-28 17:57:14 [Message] fib_1618 -> Chat: like in 1999
2012-02-28 17:57:24 [Message] fib_1618 -> Chat: secondaries are like that
2012-02-28 17:57:40 [Message] fib_1618 -> Chat: and why the bears all so love shorting the secondaries for the last decade
2012-02-28 17:57:49 [Message] fib_1618 -> Chat: primarily because of the volatility
2012-02-28 17:57:54 [Message] fib_1618 -> Chat: in the secondaries
2012-02-28 17:58:02 [Message] fib_1618 -> Chat: volatility happens in both directions...it's a two edge sword of sorts
2012-02-28 17:58:09 [Message] fib_1618 -> Chat: as these are speculative issues
2012-02-28 17:58:27 [Message] fib_1618 -> Chat: it's like playing options in a sense
2012-02-28 17:58:32 [Message] fib_1618 -> Chat: but unlike options
2012-02-28 17:58:37 [Message] fib_1618 -> Chat: there's no time decay here
2012-02-28 17:58:55 [Message] fib_1618 -> Chat: but we'll have breadth analysis to give us ample warning before things get messy
2012-02-28 17:59:16 [Message] fib_1618 -> Chat: I still remember being in Las Vegas on April 8th, 2000
2012-02-28 17:59:34 [Message] fib_1618 -> Chat: and the NASDAQ breadth MCSUM gave a big sell signal
2012-02-28 17:59:40 [Message] fib_1618 -> Chat: and I mean big
2012-02-28 17:59:59 [Message] fib_1618 -> Chat: since the last 500 or so points of the NASDAQ peak saw the NASDAQ breadth MCSUM below the zero line
2012-02-28 18:00:10 [Message] fib_1618 -> Chat: so once it broke to new lows
2012-02-28 18:00:24 [Message] fib_1618 -> Chat: it was only a matter of time before the price action would literally fall apart
2012-02-28 18:00:27 [Message] fib_1618 -> Chat: and so it went
2012-02-28 18:00:58 [Message] fib_1618 -> Chat: p.s. - very few listened to the market when it gave that sell signal
2012-02-28 18:01:23 [Message] fib_1618 -> Chat: visions of the "new economy" stocks were dancing in everyone's head
2012-02-28 18:01:34 [Message] fib_1618 -> Chat: and you can bet
2012-02-28 18:01:42 [Message] fib_1618 -> Chat: if we do make a similar run here
2012-02-28 18:01:56 [Message] fib_1618 -> Chat: there will many who will say the very same thing this time around as well
2012-02-28 18:02:11 [Message] fib_1618 -> Chat: TM TRIN at .67
2012-02-28 18:02:18 [Message] fib_1618 -> Chat: Open 10 at .91
2012-02-28 18:02:22 [Message] fib_1618 -> Chat: neutral
2012-02-28 18:02:25 [Message] fib_1618 -> Chat: so...
2012-02-28 18:02:37 [Message] fib_1618 -> Chat: the bulls continue to hold control of the ball
2012-02-28 18:02:49 [Message] fib_1618 -> Chat: with very little defense being shown by the sellers
2012-02-28 18:03:06 [Message] fib_1618 -> Chat: we have the large caps showing some good strength here near term
2012-02-28 18:03:35 [Message] fib_1618 -> Chat: but it would be far better to see this same strength spread out to those issues that are not so worthy
2012-02-28 18:03:43 [Message] fib_1618 -> Chat: if we start to see this
2012-02-28 18:03:56 [Message] fib_1618 -> Chat: the upside potential here could be quite high
2012-02-28 18:04:09 [Message] fib_1618 -> Chat: as more and more traders throw in the towel
2012-02-28 18:04:21 [Message] fib_1618 -> Chat: which is part and parcel of most Elliott 3rd wave structures
2012-02-28 18:04:35 [Message] fib_1618 -> Chat: what many throw around today as being the "point of recognition"
2012-02-28 18:04:48 [Message] fib_1618 -> Chat: that what mattered before doesn't seem to matter this time around
2012-02-28 18:05:03 [Message] fib_1618 -> Chat: and the emotional play is to get in at almost any cost
2012-02-28 18:05:06 [Message] fib_1618 -> Chat: of course
2012-02-28 18:05:08 [Message] fib_1618 -> Chat: eventually
2012-02-28 18:05:12 [Message] fib_1618 -> Chat: the market will top
2012-02-28 18:05:43 [Message] fib_1618 -> Chat: but it's also a good bet that we'll know well in advance of anything happening that might derail the current uptrend before hand
2012-02-28 18:05:47 [Message] fib_1618 -> Chat: anything else?
2012-02-28 18:06:16 [Message] fib_1618 -> Chat: bottom line
2012-02-28 18:06:21 [Message] fib_1618 -> Chat: just watch the MCO here
2012-02-28 18:06:31 [Message] fib_1618 -> Chat: if it takes out the recent reaction lows
2012-02-28 18:06:34 [Message] fib_1618 -> Chat: stand aside
2012-02-28 18:06:37 [Message] fib_1618 -> Chat: stops in place
2012-02-28 18:06:44 [Message] fib_1618 -> Chat: if it takes out the reaction highs
2012-02-28 18:07:01 [Message] fib_1618 -> Chat: add to current positions or venture out to new ones
2012-02-28 18:07:19 [Message] fib_1618 -> Chat: homework, homework, homework will keep you prepared for either eventuality
2012-02-28 18:07:34 [Message] fib_1618 -> Chat: do it now...not when it happens
2012-02-28 18:07:46 [Message] fib_1618 -> Chat: that way you take all of the emotion out of the trade
2012-02-28 18:08:04 [Message] fib_1618 -> Chat: well...that was a fast 2 plus hours
2012-02-28 18:08:09 [Message] fib_1618 -> Chat: so I'm going to take my leave
2012-02-28 18:08:16 [Message] fib_1618 -> Chat: everyone enjoy your extra leap day
2012-02-28 18:08:22 [Message] fib_1618 -> Chat: and we'll see how things look on Thursday
2012-02-28 18:08:22 [Message] EricD -> Chat: thanks
2012-02-28 18:08:23 [Message] fib_1618 -> Chat: good night

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