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fib_1618

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Reply with quote  #1 
2012-09-13 16:00:23 [Message] fib_1618 -> Chat: Needless to say it...but...good day anyway :)
2012-09-13 16:00:30 [Message] thespookyone -> Chat: Lovely day, Dr Frankenstein :D
2012-09-13 16:00:32 [Message] fib_1618 -> Chat: how is everyone?
2012-09-13 16:00:35 [Message] fib_1618 -> Chat: :)
2012-09-13 16:00:55 [Message] unc1998 -> Chat: Hey Dave, definitely a good day!
2012-09-13 16:01:01 [Message] fib_1618 -> Chat: That's Frunkensteen.... :)
2012-09-13 16:01:09 [Message] thespookyone -> Chat: ah
2012-09-13 16:01:12 [Message] thespookyone -> Chat: LOL
2012-09-13 16:01:23 [Message] fib_1618 -> Chat: still one of the funniest movies of all time
2012-09-13 16:02:05 [Message] steveftw -> Chat: what knockers....
2012-09-13 16:02:10 [Message] fib_1618 -> Chat: indeed
2012-09-13 16:02:26 [Message] fib_1618 -> Chat: it's one of those movies that everyone knows the script to....
2012-09-13 16:02:39 [Message] steveftw -> Chat: and I'm having a ball w/the grandson on it as well
2012-09-13 16:02:40 [Message] fib_1618 -> Chat: "put the candle back"
2012-09-13 16:02:50 [Message] fib_1618 -> Chat: :)
2012-09-13 16:02:53 [Message] steveftw -> Chat: "zee candle", herr doktor
2012-09-13 16:02:55 [Message] thespookyone -> Chat: too good!
2012-09-13 16:03:10 [Message] fib_1618 -> Chat: OK...any questions or comments before we get started??
2012-09-13 16:03:30 [Message] thespookyone -> Chat: Our plan has worked incredibly, THANKS
2012-09-13 16:03:36 [Message] steveftw -> Chat: ditto
2012-09-13 16:03:43 [Message] fib_1618 -> Chat: well...thank the market for talking
2012-09-13 16:03:51 [Message] steveftw -> Chat: "cruise control"
2012-09-13 16:03:54 [Message] steveftw -> Chat:  indeed
2012-09-13 16:03:55 [Message] fib_1618 -> Chat: we just have to learn to listen
2012-09-13 16:04:07 [Message] fib_1618 -> Chat: but the more important thing here
2012-09-13 16:04:30 [Message] fib_1618 -> Chat: is I hope I've been able to show everyone not only what should happen but WHY it should happen
2012-09-13 16:04:42 [Message] fib_1618 -> Chat: there is a remarkable order to the market
2012-09-13 16:04:57 [Message] thespookyone -> Chat: absolutely
2012-09-13 16:05:05 [Message] fib_1618 -> Chat: and there's nothing quite out there that can compete with breadth analysis
2012-09-13 16:05:28 [Message] thespookyone -> Chat: I've been wrestling bears at TT for a week, LOL
2012-09-13 16:05:41 [Message] fib_1618 -> Chat: here's the thing
2012-09-13 16:05:47 [Message] steveftw -> Chat: poor spook - are you charging them enuf?
2012-09-13 16:05:57 [Message] fib_1618 -> Chat: many of those who have been bearish have been using news events as their proxy
2012-09-13 16:06:04 [Message] fib_1618 -> Chat: and not looking at what the technicals are saying
2012-09-13 16:06:15 [Message] fib_1618 -> Chat: even today
2012-09-13 16:06:35 [Message] fib_1618 -> Chat: I saw some posts that...well...Steve you made a very astute comment to Tech
2012-09-13 16:06:50 [Message] fib_1618 -> Chat: no one is going to be right all of the time
2012-09-13 16:06:59 [Message] fib_1618 -> Chat: it's the nature of the beast that we work with
2012-09-13 16:07:00 [Message] steveftw -> Chat: thanks - and you saw the reply.  We'll see indeed.
2012-09-13 16:07:09 [Message] fib_1618 -> Chat: I read everything
2012-09-13 16:07:29 [Message] fib_1618 -> Chat: my frustration is that there are many on that board that can be so much better but their ego gets in their way
2012-09-13 16:07:51 [Message] fib_1618 -> Chat: and I usually come out as the villain when I attempt to have them "look deeper"
2012-09-13 16:07:54 [Message] fib_1618 -> Chat: so be it
2012-09-13 16:08:00 [Message] fib_1618 -> Chat: my heart is in the right place
2012-09-13 16:08:06 [Message] steveftw -> Chat: Some of us are REALLY slow...stubborn, you know
2012-09-13 16:08:34 [Message] fib_1618 -> Chat: well...I think everyone who initially comes into this chat room are "slow" and "stubborn"
2012-09-13 16:08:52 [Message] steveftw -> Chat: lol
2012-09-13 16:09:02 [Message] fib_1618 -> Chat: but the thirst of something new..knowledge...overwhelmed their self worth
2012-09-13 16:09:06 [Message] thespookyone -> Chat: I was almost strictly ewave..
2012-09-13 16:09:10 [Message] fib_1618 -> Chat: I know
2012-09-13 16:09:13 [Message] fib_1618 -> Chat: look
2012-09-13 16:09:18 [Message] fib_1618 -> Chat: and I've said this many times before
2012-09-13 16:09:26 [Message] fib_1618 -> Chat: I have been where all of you have been
2012-09-13 16:09:29 [Message] fib_1618 -> Chat: and currently are
2012-09-13 16:09:34 [Message] fib_1618 -> Chat: I have taken my losses
2012-09-13 16:09:37 [Message] fib_1618 -> Chat: I have been arrogant
2012-09-13 16:09:54 [Message] fib_1618 -> Chat: I have had some great spells as well
2012-09-13 16:10:02 [Message] fib_1618 -> Chat: but when the rubber meets the road
2012-09-13 16:10:11 [Message] fib_1618 -> Chat: the market will always find a way to humble you
2012-09-13 16:10:22 [Message] fib_1618 -> Chat: just when you think you got it licked
2012-09-13 16:10:28 [Message] thespookyone -> Chat: BET
2012-09-13 16:10:30 [Message] fib_1618 -> Chat: it bites you on the rear end
2012-09-13 16:10:42 [Message] fib_1618 -> Chat: I don't like to see people lose money
2012-09-13 16:11:08 [Message] fib_1618 -> Chat: and I certainly don't like to see people lose money because of their misuse of an indicator or personal bias
2012-09-13 16:11:21 [Message] fib_1618 -> Chat: but we all can do only so much
2012-09-13 16:11:36 [Message] thespookyone -> Chat: money flow is THE most valuable, to be sure
2012-09-13 16:11:40 [Message] fib_1618 -> Chat: if you have no power, you might as well just sit back and watch
2012-09-13 16:11:50 [Message] fib_1618 -> Chat: some learn
2012-09-13 16:11:58 [Message] fib_1618 -> Chat: and want to know how to do better
2012-09-13 16:12:01 [Message] fib_1618 -> Chat: some don't
2012-09-13 16:12:18 [Message] fib_1618 -> Chat: and repeat the same mistakes because of something that may had worked only once before
2012-09-13 16:12:21 [Message] fib_1618 -> Chat: as we know in here
2012-09-13 16:12:33 [Message] fib_1618 -> Chat: every single market sequence is as unique as a snowflake
2012-09-13 16:12:38 [Message] fib_1618 -> Chat: they may all look the same
2012-09-13 16:12:48 [Message] fib_1618 -> Chat: but on closer examination they are always different
2012-09-13 16:13:02 [Message] fib_1618 -> Chat: but one constant in all of this is the engine that makes the markets go
2012-09-13 16:13:05 [Message] fib_1618 -> Chat: and that is money
2012-09-13 16:13:14 [Message] fib_1618 -> Chat: it is the backbone of everything
2012-09-13 16:13:31 [Message] fib_1618 -> Chat: and it doesn't matter one iota how it comes about
2012-09-13 16:13:39 [Message] fib_1618 -> Chat: or whether it's practical
2012-09-13 16:14:14 [Message] fib_1618 -> Chat: a car doesn't care where the gas comes from in order to move forward or back...it only needs this same gas to do so
2012-09-13 16:14:36 [Message] fib_1618 -> Chat: and that's what we try to do in here...measure to see if there's enough in the market's "tank" to make it "go"
2012-09-13 16:14:49 [Message] fib_1618 -> Chat: and with that analogy
2012-09-13 16:14:56 [Message] fib_1618 -> Chat: let me get DP up and we'll get started
2012-09-13 16:15:17 [Message] fib_1618 -> Chat: well...isn't that a pretty sight?
2012-09-13 16:15:39 [Message] fib_1618 -> Chat: after showing a couple of small point changes in the last couple of days
2012-09-13 16:15:51 [Message] fib_1618 -> Chat: the CO NYSE breadth MCO moved significantly higher today
2012-09-13 16:15:56 [Message] fib_1618 -> Chat: and took out its August highs in the process
2012-09-13 16:16:20 [Message] fib_1618 -> Chat: this now clears the way for a resumption of the uptrend that began back in 2009
2012-09-13 16:16:45 [Message] fib_1618 -> Chat: and, of course, confirms today's new recovery price highs in the NYA index
2012-09-13 16:17:14 [Message] fib_1618 -> Chat: looking at the pattern structure of both the MCO and the price action itself
2012-09-13 16:17:28 [Message] fib_1618 -> Chat: both are now confirming an Elliott 3rd wave higher in progress
2012-09-13 16:17:46 [Message] fib_1618 -> Chat: looking the bigger daily pattern
2012-09-13 16:18:29 [Message] fib_1618 -> Chat: it would seem that this 3rd wave was a simple structure of 1's and 2's that began with the breakout seen at the end of July
2012-09-13 16:18:47 [Message] fib_1618 -> Chat: so a 3 of 3 center point advance is the preferred count
2012-09-13 16:19:05 [Message] fib_1618 -> Chat: for those who don't know Elliott
2012-09-13 16:19:21 [Message] fib_1618 -> Chat: 3rd waves are points in a price pattern that have confirmations in 3 ways
2012-09-13 16:19:39 [Message] fib_1618 -> Chat: the first is that prices are able to break above important resistance or support areas
2012-09-13 16:19:57 [Message] fib_1618 -> Chat: using simple trendline analysis is probably the best way to see this occur
2012-09-13 16:20:02 [Message] fib_1618 -> Chat: so, for example
2012-09-13 16:20:28 [Message] fib_1618 -> Chat: last Thursday we had a gap higher from a congested and coiling price structure
2012-09-13 16:20:52 [Message] fib_1618 -> Chat: and it moved most of the major market averages above the spring highs of 2012 in the process
2012-09-13 16:20:55 [Message] fib_1618 -> Chat: as a chartist
2012-09-13 16:21:48 [Message] fib_1618 -> Chat: what we want to see on such breakouts is expanding daily volume with this break of resistance to confirm that the move is "for real" that there is conviction behind the move to help push prices beyond this wall of resistance (or support)
2012-09-13 16:21:50 [Message] fib_1618 -> Chat: so we got that
2012-09-13 16:22:01 [Message] fib_1618 -> Chat: but more importantly in the 3rd wave identification
2012-09-13 16:22:03 [Message] fib_1618 -> Chat: is that
2012-09-13 16:22:24 [Message] fib_1618 -> Chat: 3rd waves ALWAYS are accompanied by the greatest expansion of both breadth and volume plurality
2012-09-13 16:22:54 [Message] fib_1618 -> Chat: as we have noted this over the last couple of days
2012-09-13 16:23:02 [Message] fib_1618 -> Chat: and since the Labor Day holiday
2012-09-13 16:23:29 [Message] fib_1618 -> Chat: not only have we've seen a better rhythm in our daily volume
2012-09-13 16:23:53 [Message] fib_1618 -> Chat: but we have also seen it move above the average of a short term time period
2012-09-13 16:23:55 [Message] fib_1618 -> Chat: now...
2012-09-13 16:24:06 [Message] fib_1618 -> Chat: many chart programs use a 60 day average
2012-09-13 16:24:15 [Message] fib_1618 -> Chat: I, myself, like to use a 34 day EMA
2012-09-13 16:24:53 [Message] fib_1618 -> Chat: as this gives me a better lead in than to have to wait for more time to pass as the pattern enters the meat of a move
2012-09-13 16:24:59 [Message] fib_1618 -> Chat: like we talked about yesterday
2012-09-13 16:25:20 [Message] fib_1618 -> Chat: I want to get on the train in Las Vegas, and the 60 day would get me on in Denver
2012-09-13 16:25:35 [Message] fib_1618 -> Chat: so how do we measure breadth and volume?
2012-09-13 16:25:52 [Message] fib_1618 -> Chat: with the McClellan's, of course!
2012-09-13 16:26:06 [Message] thespookyone -> Chat: man, in this wave segment, corrections will be hard to come by, very small,and fast-I'll have to change up my time frames again.
2012-09-13 16:26:10 [Message] fib_1618 -> Chat: remember that these tools are measuring the TREND of the A/D or U/D line
2012-09-13 16:26:25 [Message] fib_1618 -> Chat: and that's another personality of a 3rd wave
2012-09-13 16:26:42 [Message] fib_1618 -> Chat: 3rd waves are always have gaps to them as well
2012-09-13 16:26:52 [Message] steveftw -> Chat: spooky or Dave, let's talk about that specifically w/some intraday guidance.
2012-09-13 16:26:57 [Message] fib_1618 -> Chat: as the majority finally realize the direction of the trend
2012-09-13 16:26:58 [Message] steveftw -> Chat: I need to get longer quicker.
2012-09-13 16:27:12 [Message] fib_1618 -> Chat: I don't think you do
2012-09-13 16:27:19 [Message] fib_1618 -> Chat: slow and sure is usually the best plan
2012-09-13 16:27:28 [Message] fib_1618 -> Chat: allowing the market to tell you when its ready
2012-09-13 16:27:33 [Message] steveftw -> Chat: lol
2012-09-13 16:27:36 [Message] fib_1618 -> Chat: then to kind of force the issue
2012-09-13 16:27:39 [Message] steveftw -> Chat: you're absolutely correct.
2012-09-13 16:27:44 [Message] steveftw -> Chat: thanks
2012-09-13 16:27:47 [Message] thespookyone -> Chat: individual stocks have been a bit easier to time, imho
2012-09-13 16:28:04 [Message] fib_1618 -> Chat: one of things I hope to share in here is that there is always time to catch a trend
2012-09-13 16:28:14 [Message] fib_1618 -> Chat: on your terms
2012-09-13 16:28:21 [Message] fib_1618 -> Chat: with the best odds possible
2012-09-13 16:28:24 [Message] fib_1618 -> Chat: look at yesterday
2012-09-13 16:28:36 [Message] fib_1618 -> Chat: up until then, we continued to be on hold for about a week
2012-09-13 16:28:39 [Message] fib_1618 -> Chat: not to sell
2012-09-13 16:28:45 [Message] fib_1618 -> Chat: and at the same time
2012-09-13 16:28:52 [Message] fib_1618 -> Chat: since we had inconsistencies
2012-09-13 16:29:01 [Message] fib_1618 -> Chat: a defensive posture was warranted
2012-09-13 16:29:08 [Message] fib_1618 -> Chat: but after yesterday
2012-09-13 16:29:13 [Message] fib_1618 -> Chat: that posture was dropped
2012-09-13 16:29:36 [Message] fib_1618 -> Chat: and you had 3 hours to go out shopping this morning before the announcement
2012-09-13 16:29:48 [Message] fib_1618 -> Chat: but to be candid, it didn't matter what the Fed was going to do
2012-09-13 16:30:00 [Message] fib_1618 -> Chat: just like it didn't matter what the German's were going to do yesterday
2012-09-13 16:30:07 [Message] fib_1618 -> Chat: or the jobs numbers from last Friday
2012-09-13 16:30:22 [Message] fib_1618 -> Chat: for over the last month we had the NYSE breadth MCSUM above the +500 level
2012-09-13 16:30:35 [Message] fib_1618 -> Chat: and the bears couldn't do anything about it
2012-09-13 16:30:45 [Message] fib_1618 -> Chat: they had no follow through
2012-09-13 16:30:54 [Message] fib_1618 -> Chat: and as we talked about a week ago Tuesday
2012-09-13 16:31:14 [Message] fib_1618 -> Chat: the bears were getting into a position of being "blown out of the water" because of this
2012-09-13 16:31:22 [Message] fib_1618 -> Chat: and so it goes
2012-09-13 16:31:30 [Message] thespookyone -> Chat: I went to "bank mart" LOL And, sorry Dave, had to use JPM
2012-09-13 16:31:39 [Message] fib_1618 -> Chat: that's fine
2012-09-13 16:31:46 [Message] fib_1618 -> Chat: I like MS myself
2012-09-13 16:31:54 [Message] fib_1618 -> Chat: how did it do today?
2012-09-13 16:32:25 [Message] fib_1618 -> Chat: what was it when we talked about this one back in August here in the chat?
2012-09-13 16:32:39 [Message] fib_1618 -> Chat: 14 1/2 or so?
2012-09-13 16:32:41 [Message] thespookyone -> Chat: I already had GS, wanted a bank too MS was up 2.76%
2012-09-13 16:32:51 [Message] fib_1618 -> Chat: today it closed at $17.90
2012-09-13 16:33:07 [Message] fib_1618 -> Chat: and the reason why the banks are doing well is....?
2012-09-13 16:33:23 [Message] thespookyone -> Chat: housing and the fed
2012-09-13 16:33:28 [Message] fib_1618 -> Chat: because money was already flowing in there like we discussed...well...last Tuesday
2012-09-13 16:33:52 [Message] fib_1618 -> Chat: it's now the financials turn to shine for a while
2012-09-13 16:34:02 [Message] fib_1618 -> Chat: there's tremendous upside potential there
2012-09-13 16:34:05 [Message] thespookyone -> Chat: the XLF was looking super, internally
2012-09-13 16:34:21 [Message] fib_1618 -> Chat: and you can see how money has had a different tone this time around
2012-09-13 16:34:35 [Message] fib_1618 -> Chat: anyway...
2012-09-13 16:34:45 [Message] fib_1618 -> Chat: all of this was not only predictable
2012-09-13 16:34:59 [Message] fib_1618 -> Chat: but we did so in here over the last 2 months in spite of the news and low volume
2012-09-13 16:35:15 [Message] fib_1618 -> Chat: a time in which everyone was fighting the market
2012-09-13 16:35:20 [Message] fib_1618 -> Chat: and still are, even after today, in some cases
2012-09-13 16:35:26 [Message] fib_1618 -> Chat: everything is a top again
2012-09-13 16:35:29 [Message] fib_1618 -> Chat: a blow off
2012-09-13 16:35:33 [Message] fib_1618 -> Chat: that the news is all out now
2012-09-13 16:35:50 [Message] fib_1618 -> Chat: the rally will be over when money starts to leave the market
2012-09-13 16:35:53 [Message] fib_1618 -> Chat: and not before
2012-09-13 16:35:56 [Message] fib_1618 -> Chat: period
2012-09-13 16:36:02 [Message] fib_1618 -> Chat: case closed
2012-09-13 16:36:18 [Message] thespookyone -> Chat: sold!
2012-09-13 16:36:25 [Message] fib_1618 -> Chat: and if short here, you might as well just give ME your money as I can do more with it than lose it
2012-09-13 16:37:32 [Message] fib_1618 -> Chat: I sometimes wonder if the cumulative charts that I've posted each weekend for the last 8 years really means anything to anyone anymore
2012-09-13 16:37:53 [Message] fib_1618 -> Chat: so I do it for myself
2012-09-13 16:38:04 [Message] fib_1618 -> Chat: got to tell you
2012-09-13 16:38:13 [Message] fib_1618 -> Chat: I haven't had a losing year in some time
2012-09-13 16:38:23 [Message] fib_1618 -> Chat: but enough of me
2012-09-13 16:38:24 [Message] fib_1618 -> Chat: onward
2012-09-13 16:38:47 [Message] fib_1618 -> Chat: the CO NYSE breadth MCSUM is now knocking on the door of the +500 level
2012-09-13 16:39:01 [Message] fib_1618 -> Chat: and with today's MCO of a +73
2012-09-13 16:39:13 [Message] fib_1618 -> Chat: we should clear above this important MCSUM level tomorrow
2012-09-13 16:39:26 [Message] fib_1618 -> Chat: what we need to remember here
2012-09-13 16:39:29 [Message] fib_1618 -> Chat: is that...
2012-09-13 16:39:34 [Message] fib_1618 -> Chat: we talk about texture
2012-09-13 16:39:56 [Message] fib_1618 -> Chat: and we pointed out over the last day or so about the texture we see in the many of the breadth MCO's now
2012-09-13 16:40:04 [Message] fib_1618 -> Chat: when you have this kind of textural pattern of bottoms above bottoms
2012-09-13 16:40:19 [Message] fib_1618 -> Chat: not only will we see robust moves in the MCO like we saw today
2012-09-13 16:40:51 [Message] fib_1618 -> Chat: but it takes quite a bit of time for this same structural pattern to weaken enough to reverse
2012-09-13 16:41:25 [Message] fib_1618 -> Chat: so what we should expect here on this MCO is for a complex pattern to form just above the +50 level over the next week or so
2012-09-13 16:41:41 [Message] fib_1618 -> Chat: this will then continue to show good post expansion in the MCSUM to the upside
2012-09-13 16:41:47 [Message] fib_1618 -> Chat: and as the MCSUM moves higher
2012-09-13 16:42:01 [Message] fib_1618 -> Chat: not only do we see more and more participation in the index that is being measured
2012-09-13 16:42:29 [Message] fib_1618 -> Chat: but the average stock in this same index will tend to move in larger percentage movements
2012-09-13 16:42:32 [Message] fib_1618 -> Chat: in the old days
2012-09-13 16:42:43 [Message] fib_1618 -> Chat: before decimalization
2012-09-13 16:42:55 [Message] fib_1618 -> Chat: when the MCSUM was above the +500 level
2012-09-13 16:43:23 [Message] fib_1618 -> Chat: we used to look for the average stock to move in 1/4 to 1/2 point moves
2012-09-13 16:43:27 [Message] fib_1618 -> Chat: at the +750 level
2012-09-13 16:43:35 [Message] fib_1618 -> Chat: the average was 1/2 to 3/4
2012-09-13 16:43:49 [Message] fib_1618 -> Chat: above the +1000 level
2012-09-13 16:43:57 [Message] fib_1618 -> Chat: the average stock would move point by point
2012-09-13 16:44:04 [Message] fib_1618 -> Chat: the reason for this
2012-09-13 16:44:13 [Message] fib_1618 -> Chat: is that the more extreme we go in the MCSUM
2012-09-13 16:44:32 [Message] fib_1618 -> Chat: or the wider the distance between the 19 day and 39 day EMA's of the A/D line
2012-09-13 16:44:49 [Message] fib_1618 -> Chat: there's less sellers to offset the buyers
2012-09-13 16:45:04 [Message] fib_1618 -> Chat: and firmer bids are the result
2012-09-13 16:45:12 [Message] fib_1618 -> Chat: in the old days
2012-09-13 16:45:24 [Message] fib_1618 -> Chat: when we had specialists on the floor of the exchange
2012-09-13 16:45:46 [Message] fib_1618 -> Chat: you could watch the tape and see what was being moved from inventory and back into the market and vice versa
2012-09-13 16:45:54 [Message] fib_1618 -> Chat: a little harder to do today with electronic trading
2012-09-13 16:46:09 [Message] fib_1618 -> Chat: but the Specialist Theory is simple
2012-09-13 16:46:30 [Message] fib_1618 -> Chat: it's not people buying that make prices move higher, it's prices moving higher that make people buy
2012-09-13 16:46:44 [Message] fib_1618 -> Chat: using this idea
2012-09-13 16:47:17 [Message] fib_1618 -> Chat: a specialist, since he has to make a far and orderly market (and can use his own account to do so), can move prices one way or the other to merchandise his product
2012-09-13 16:47:37 [Message] fib_1618 -> Chat: this is the main reason why it's so important to use EMA's instead of SMA's
2012-09-13 16:47:59 [Message] fib_1618 -> Chat: for the SMA is slow to turn and you'll tend to "trade last"
2012-09-13 16:48:07 [Message] fib_1618 -> Chat: while the EMA will allow you to "trade first" and exploit any move in this same merchandising of the product
2012-09-13 16:49:04 [Message] fib_1618 -> Chat: anyway...the MCSUM provides analytical insight that nothing else out there can really touch
2012-09-13 16:49:22 [Message] fib_1618 -> Chat: and when combined with your own arsenal of tools, you can be a deadly trader
2012-09-13 16:49:33 [Message] fib_1618 -> Chat: it just takes patience and discipline
2012-09-13 16:49:48 [Message] fib_1618 -> Chat: and, of course, to believe in what your indicators are telling you
2012-09-13 16:49:54 [Message] fib_1618 -> Chat: right Issac? :)
2012-09-13 16:50:14 [Message] Issac -> Chat: right!
2012-09-13 16:59:38 [Message] fib_1618 -> Chat: after breaking above the horizontal range on Wednesday
2012-09-13 17:00:01 [Message] fib_1618 -> Chat: the NYSE composite breadth MCSUM powered higher on the back of the NYSE breadth MCO
2012-09-13 17:00:23 [Message] fib_1618 -> Chat: and we have now plowed through the +750 level
2012-09-13 17:00:43 [Message] fib_1618 -> Chat: so it's now likely that our next possible area of a pause will be the +1000 level
2012-09-13 17:00:59 [Message] fib_1618 -> Chat: looking at the MCSUM still
2012-09-13 17:01:10 [Message] fib_1618 -> Chat: and this is something we briefly touched on last week
2012-09-13 17:01:23 [Message] fib_1618 -> Chat: but this same horizontal range will now act as a base
2012-09-13 17:01:58 [Message] fib_1618 -> Chat: a base in which one would see more at the zero line that just above the +500 level which is already, technically, is "overbought" territory
2012-09-13 17:02:05 [Message] fib_1618 -> Chat: the reason to bring this up is
2012-09-13 17:02:57 [Message] fib_1618 -> Chat: we won't need as much time and effort now to possibly challenge the 2012 highs that we see in the February period
2012-09-13 17:03:05 [Message] fib_1618 -> Chat: and if we are able to move above this top
2012-09-13 17:03:16 [Message] fib_1618 -> Chat: then we will be able to move to new all time highs on the NYA
2012-09-13 17:03:25 [Message] fib_1618 -> Chat: no less the Dow and the SPX
2012-09-13 17:03:41 [Message] fib_1618 -> Chat: given the character of today's move higher
2012-09-13 17:04:17 [Message] fib_1618 -> Chat: we should now look forward for this challenge, and new highs, sooner than later
2012-09-13 17:04:32 [Message] fib_1618 -> Chat: and the more energy that enters the market here
2012-09-13 17:04:37 [Message] fib_1618 -> Chat: the quicker we'll get there
2012-09-13 17:04:39 [Message] fib_1618 -> Chat: gaps and all
2012-09-13 17:04:59 [Message] fib_1618 -> Chat: given the underlying large amounts of liquidity already in the system
2012-09-13 17:05:12 [Message] fib_1618 -> Chat: and now the announcement of the new and improved QE3
2012-09-13 17:05:41 [Message] fib_1618 -> Chat: it's now a pretty good bet that the US markets are going to continue to rally for the next couple of years
2012-09-13 17:05:50 [Message] fib_1618 -> Chat: but let's be clear
2012-09-13 17:05:59 [Message] fib_1618 -> Chat: we do NOT have confirmation on this as yet
2012-09-13 17:06:33 [Message] fib_1618 -> Chat: this is just an expectation based on the physics provided by the current underlying strength
2012-09-13 17:06:43 [Message] fib_1618 -> Chat: for now...we take it day by day
2012-09-13 17:07:05 [Message] fib_1618 -> Chat: we are not so much looking for further confirmation of a extension of the uptrend in progress
2012-09-13 17:07:10 [Message] fib_1618 -> Chat: we already knew that yesterday
2012-09-13 17:07:27 [Message] fib_1618 -> Chat: we are, however, now looking for the reasons why that it can't continue
2012-09-13 17:07:59 [Message] fib_1618 -> Chat: so while others maybe looking for certain price level violations to be taken out before they "change their opinion"
2012-09-13 17:08:19 [Message] fib_1618 -> Chat: we are looking for reasons why the structure will not able to maintain its structural buoyancy
2012-09-13 17:08:51 [Message] fib_1618 -> Chat: so be ready for many to climb on board the train over the next several weeks
2012-09-13 17:09:06 [Message] fib_1618 -> Chat: but don't worry, we already have our window seats
2012-09-13 17:09:37 [Message] fib_1618 -> Chat: while others may have to stand in the aisles as the train makes its way across the country
2012-09-13 17:09:41 [Message] fib_1618 -> Chat: wow
2012-09-13 17:09:50 [Message] fib_1618 -> Chat: Japan just opened up 1.2%
2012-09-13 17:09:57 [Message] fib_1618 -> Chat: Korea opened up 2.25%
2012-09-13 17:10:16 [Message] fib_1618 -> Chat: wait until this hits Europe
2012-09-13 17:10:35 [Message] fib_1618 -> Chat: should be a good close tomorrow going into the weekend
2012-09-13 17:10:46 [Message] fib_1618 -> Chat: which is what usually happens in 3rd waves
2012-09-13 17:10:49 [Message] fib_1618 -> Chat: "recognition"
2012-09-13 17:11:02 [Message] fib_1618 -> Chat: it will give the news programs this weekend something to point to and talk about
2012-09-13 17:11:18 [Message] fib_1618 -> Chat: and then when they mention that the Dow is around 600 points from its all time highs
2012-09-13 17:11:39 [Message] fib_1618 -> Chat: just what do you think Aunt Minnie and Uncle Charley are going to be thinking about come Monday morning?
2012-09-13 17:11:56 [Message] fib_1618 -> Chat: and this feeds on itself
2012-09-13 17:12:04 [Message] fib_1618 -> Chat: all in a perfect Elliott world, of course
2012-09-13 17:12:29 [Message] fib_1618 -> Chat: higher highs as well in the NASDAQ breadth MCO
2012-09-13 17:12:50 [Message] fib_1618 -> Chat: and look at the post extension in the NASDAQ breadth MCSUM we have right now to the upside
2012-09-13 17:13:15 [Message] fib_1618 -> Chat: for those who want to help out others who may be fighting this
2012-09-13 17:13:19 [Message] fib_1618 -> Chat: just show them the MCSUM
2012-09-13 17:13:30 [Message] fib_1618 -> Chat: they don't really need to really understand what it is
2012-09-13 17:13:56 [Message] fib_1618 -> Chat: just tell them that the larger the post expansion, the more or less money that is moving into or out of the market
2012-09-13 17:14:13 [Message] fib_1618 -> Chat: this visual of increasing postings should get your point home
2012-09-13 17:14:30 [Message] fib_1618 -> Chat: for the near term
2012-09-13 17:15:03 [Message] fib_1618 -> Chat: the NASDAQ breadth MCSUM is about to challenge some significant resistance of both the +250 level and the pattern resistance we talked about yesterday
2012-09-13 17:15:11 [Message] fib_1618 -> Chat: and as we talked about then
2012-09-13 17:15:52 [Message] fib_1618 -> Chat: you will usually see a higher degree of velocity take place to break through something like this
2012-09-13 17:16:11 [Message] fib_1618 -> Chat: so since we have a reading today of +225 on the MCSUM
2012-09-13 17:16:22 [Message] fib_1618 -> Chat: and the MCO is at a +50
2012-09-13 17:16:45 [Message] fib_1618 -> Chat: one would think that we're likely to speed up to a +75 in order to break though this same wall in a decisively manner
2012-09-13 17:16:51 [Message] fib_1618 -> Chat: again...
2012-09-13 17:17:01 [Message] fib_1618 -> Chat: think of the MCO as the speedometer in your car
2012-09-13 17:17:04 [Message] fib_1618 -> Chat: the faster you go
2012-09-13 17:17:12 [Message] fib_1618 -> Chat: the further you'll be able to travel
2012-09-13 17:17:26 [Message] fib_1618 -> Chat: the route that's produced by this same increase in velocity
2012-09-13 17:17:38 [Message] fib_1618 -> Chat: is what you see in the direction movements of the MCSUM
2012-09-13 17:17:46 [Message] fib_1618 -> Chat: your road map as it were
2012-09-13 17:17:55 [Message] fib_1618 -> Chat: so the faster we go
2012-09-13 17:18:10 [Message] fib_1618 -> Chat: even after we take our foot off of the accelerator
2012-09-13 17:18:28 [Message] fib_1618 -> Chat: we're still going to continue to move forward even if we don't have any more fuel to give
2012-09-13 17:18:53 [Message] fib_1618 -> Chat: eventually, yes, we'll slow enough where we can turn the vehicle around and go the other way
2012-09-13 17:19:18 [Message] fib_1618 -> Chat: but if you tried to do this at 75 MPH, you're going to lose both your motor and your transmission
2012-09-13 17:19:38 [Message] fib_1618 -> Chat: and not go anywhere, except maybe the hospital :)
2012-09-13 17:20:24 [Message] fib_1618 -> Chat: so let's look for continued, and increasing, flows of money to come into the NASDAQ marketplace over the next day or two
2012-09-13 17:20:41 [Message] fib_1618 -> Chat: looking at the NASDAQ price chart
2012-09-13 17:20:54 [Message] fib_1618 -> Chat: and you're seeing a textbook uptrend in progress
2012-09-13 17:21:00 [Message] fib_1618 -> Chat: move up sharply
2012-09-13 17:21:02 [Message] fib_1618 -> Chat: consolidate
2012-09-13 17:21:08 [Message] fib_1618 -> Chat: take a another step higher
2012-09-13 17:21:10 [Message] fib_1618 -> Chat: consolidate
2012-09-13 17:21:23 [Message] fib_1618 -> Chat: stair stepping is part and parcel of any trend
2012-09-13 17:21:30 [Message] fib_1618 -> Chat: that's how it's recognizable
2012-09-13 17:21:37 [Message] fib_1618 -> Chat: that and drawing a trendline
2012-09-13 17:21:46 [Message] fib_1618 -> Chat: and unless this changes
2012-09-13 17:21:54 [Message] fib_1618 -> Chat: the trend remains until it's PROVEN otherwise
2012-09-13 17:22:02 [Message] fib_1618 -> Chat: it IS the path of LEAST resistance
2012-09-13 17:22:28 [Message] fib_1618 -> Chat: we got enough that came in today to move the NDX breadth MCO above last weeks highs now
2012-09-13 17:22:39 [Message] fib_1618 -> Chat: and as we talked about yesterday
2012-09-13 17:23:05 [Message] fib_1618 -> Chat: this was pretty much expected today given how the NDX breadth MCSUM was holding firm above its zero line
2012-09-13 17:23:38 [Message] fib_1618 -> Chat: another constructive day tomorrow should be enough to start the acceleration process in prices
2012-09-13 17:23:55 [Message] fib_1618 -> Chat: with the occasion 2-3 day "pause to refresh" just like we had this week
2012-09-13 17:24:22 [Message] fib_1618 -> Chat: oh...and let's not forget the forecast of a simple reversal bar from yesterday
2012-09-13 17:24:31 [Message] fib_1618 -> Chat: the key being testing the lows
2012-09-13 17:24:44 [Message] fib_1618 -> Chat: and then closing positive and above the previous two day closes
2012-09-13 17:24:55 [Message] fib_1618 -> Chat: that's a classic reversal in bar charting
2012-09-13 17:25:08 [Message] fib_1618 -> Chat: don't ask me about sticks...they confuse me
2012-09-13 17:25:12 [Message] fib_1618 -> Chat: make no sense
2012-09-13 17:25:38 [Message] fib_1618 -> Chat: but a bar chart is easy...with very easy rules to trade by
2012-09-13 17:25:49 [Message] fib_1618 -> Chat: and you don't have to learn what each stick means like you do in a geometry course
2012-09-13 17:26:09 [Message] fib_1618 -> Chat: as expected
2012-09-13 17:26:15 [Message] fib_1618 -> Chat: the SPX breadth MCO powered higher today
2012-09-13 17:26:39 [Message] fib_1618 -> Chat: and look at that extension gap today in the SPX breadth MCSUM
2012-09-13 17:26:44 [Message] thespookyone -> Chat: BIG posting, nice!
2012-09-13 17:26:53 [Message] fib_1618 -> Chat: yes
2012-09-13 17:27:14 [Message] fib_1618 -> Chat: and there's enough energy behind it that we should be able to move above the previous MCSUM tops very quickly
2012-09-13 17:27:23 [Message] fib_1618 -> Chat: bottoms above bottoms in place as well
2012-09-13 17:27:41 [Message] fib_1618 -> Chat: and that should also help move the MCSUM above this same resistance
2012-09-13 17:28:02 [Message] fib_1618 -> Chat: so there are two important things here to consider
2012-09-13 17:28:46 [Message] fib_1618 -> Chat: the first is that the relationship between the MCO and prices go together better than using MCSUM
2012-09-13 17:29:08 [Message] fib_1618 -> Chat: and the MCSUM gives us the time it will usually take for us to see exhaustion in any trend that is created
2012-09-13 17:29:28 [Message] fib_1618 -> Chat: so once the SPX breadth MCSUM moves above the +400 level
2012-09-13 17:29:40 [Message] fib_1618 -> Chat: that will clear the way for our likely to rally into the end of the month
2012-09-13 17:29:47 [Message] fib_1618 -> Chat: and a move above the +500 level would then likely extend this rally well into October
2012-09-13 17:30:07 [Message] fib_1618 -> Chat: the more strength we get
2012-09-13 17:30:25 [Message] fib_1618 -> Chat: the more amplitude and time it will take to wear off the momentum of the move
2012-09-13 17:30:39 [Message] fib_1618 -> Chat: so I wouldn't be looking for any crashes anytime soon :)
2012-09-13 17:30:41 [Message] fib_1618 -> Chat: in fact
2012-09-13 17:30:55 [Message] fib_1618 -> Chat: if we can get all of the MCSUM's above the +500 level
2012-09-13 17:31:26 [Message] fib_1618 -> Chat: it would then take something catastrophic to halt the advance
2012-09-13 17:31:51 [Message] fib_1618 -> Chat: and I'm talking above and beyond something like Greece of Spain defaulting
2012-09-13 17:32:17 [Message] fib_1618 -> Chat: so long and strong is the plan for now
2012-09-13 17:32:44 [Message] fib_1618 -> Chat: we got the same kind of continuation as well with the OEX data
2012-09-13 17:33:07 [Message] fib_1618 -> Chat: and look at the OEX breadth MCSUM gap taking place as it moved through the +250 level
2012-09-13 17:33:37 [Message] fib_1618 -> Chat: adding to the constructive evidence that all boats are now rising with the tide
2012-09-13 17:33:55 [Message] fib_1618 -> Chat: same with the Dow
2012-09-13 17:34:18 [Message] fib_1618 -> Chat: the MID breadth MCO also moved to higher highs today
2012-09-13 17:34:33 [Message] thespookyone -> Chat: the way the OEX blew up 250, WOW!
2012-09-13 17:34:52 [Message] fib_1618 -> Chat: but a little on the disappointing side as to the lack of energy we see here
2012-09-13 17:35:23 [Message] fib_1618 -> Chat: the SML breadth MCO, however, is showing what we expected to see in this respect
2012-09-13 17:35:41 [Message] fib_1618 -> Chat: and both the MID and SML breadth MCO are confirming the new all time highs in both price averages
2012-09-13 17:36:05 [Message] fib_1618 -> Chat: the TM breadth MCO blew though its resistance
2012-09-13 17:36:27 [Message] fib_1618 -> Chat: and the TM breadth MCSUM closed above the +500 level today
2012-09-13 17:37:14 [Message] fib_1618 -> Chat: allowing the market to generate enough momentum above the "escape velocity" point in the pattern
2012-09-13 17:37:17 [Message] fib_1618 -> Chat: so...
2012-09-13 17:37:22 [Message] fib_1618 -> Chat: nice day for the buyers
2012-09-13 17:37:59 [Message] fib_1618 -> Chat: and it would appear that we should see nice follow through on this that might extend into the middle of next week
2012-09-13 17:38:17 [Message] fib_1618 -> Chat: keep in mind that even if the MCO moves to above the +80 level
2012-09-13 17:38:33 [Message] fib_1618 -> Chat: this doesn't mean that prices are through moving in this same direction
2012-09-13 17:38:55 [Message] fib_1618 -> Chat: it's going to be a while before we'll need to be cautious in our longs
2012-09-13 17:39:05 [Message] fib_1618 -> Chat: so enjoy the ride for now...and learn from it
2012-09-13 17:39:51 [Message] fib_1618 -> Chat: all of the volume MCO's are pretty much in sync with their breadth cousins
2012-09-13 17:40:09 [Message] fib_1618 -> Chat: two areas to watch over the next couple of days is for follow through in the NDX and MID volume MCO's
2012-09-13 17:40:16 [Message] fib_1618 -> Chat: as they're lagging a bit
2012-09-13 17:40:47 [Message] fib_1618 -> Chat: OK...CVI's are climactic
2012-09-13 17:41:00 [Message] fib_1618 -> Chat: so we MIGHT see a price top in the next two trading sessions
2012-09-13 17:41:17 [Message] fib_1618 -> Chat: but I say MIGHT because today's CVI number is higher than last weeks number
2012-09-13 17:41:28 [Message] fib_1618 -> Chat: and that usually means we have "something special" going on here
2012-09-13 17:41:51 [Message] fib_1618 -> Chat: and we may only get an intraday type top in prices before moving higher still
2012-09-13 17:42:22 [Message] fib_1618 -> Chat: STVO's remain frothy
2012-09-13 17:42:45 [Message] fib_1618 -> Chat: except the NDX STVO which isn't anywhere near extended...at least yet
2012-09-13 17:43:26 [Message] fib_1618 -> Chat: and the Dow, OEX, and SPX STVO may decide to wait until the NDX can catch up with them before seeing more than a multi day correction
2012-09-13 17:43:41 [Message] fib_1618 -> Chat: my guess is that the NYSE TRIN showed a good number today
2012-09-13 17:43:53 [Message] fib_1618 -> Chat: yep
2012-09-13 17:43:59 [Message] fib_1618 -> Chat: NYSE TRIN at .38
2012-09-13 17:44:14 [Message] fib_1618 -> Chat: Open 10 zoomed higher today...to a .84
2012-09-13 17:44:33 [Message] fib_1618 -> Chat: not exactly "overbought"...so we'll call it a sign of strength for now
2012-09-13 17:44:53 [Message] fib_1618 -> Chat: NASDAQ TRIN at .84
2012-09-13 17:45:01 [Message] fib_1618 -> Chat: Open 10 at 1.03
2012-09-13 17:45:06 [Message] fib_1618 -> Chat: "oversold"
2012-09-13 17:45:36 [Message] fib_1618 -> Chat: and look at the 3 year price chart of the NASDAQ!
2012-09-13 17:45:51 [Message] fib_1618 -> Chat: now that pattern has a great amount of potential
2012-09-13 17:46:11 [Message] fib_1618 -> Chat: and when we remember that we could be moving up to the 3700 level on this move, pattern wise, it looks like we have the right rising structure in place for this to happen
2012-09-13 17:46:50 [Message] fib_1618 -> Chat: I'm getting the feeling now that we're going to see at least a challenge of the 2000 highs now in the NASDAQ and NDX before this is over
2012-09-13 17:47:15 [Message] fib_1618 -> Chat: and the TM TRIN is at .75
2012-09-13 17:47:25 [Message] fib_1618 -> Chat: Open 10 at 1.01
2012-09-13 17:47:30 [Message] fib_1618 -> Chat: minimally "oversold"
2012-09-13 17:47:33 [Message] fib_1618 -> Chat: so....
2012-09-13 17:47:40 [Message] fib_1618 -> Chat: the bulls have the ball
2012-09-13 17:47:48 [Message] fib_1618 -> Chat: and have control of the action
2012-09-13 17:48:18 [Message] fib_1618 -> Chat: any pullbacks will tend to be quick and maybe sharp
2012-09-13 17:48:44 [Message] fib_1618 -> Chat: but as the MCSUM's move higher, the less there is of a chance in the "sharp" department
2012-09-13 17:48:51 [Message] fib_1618 -> Chat: remember that the higher we go price wise
2012-09-13 17:49:20 [Message] fib_1618 -> Chat: we're going to start to get a different definition on what would be considered "sharp"
2012-09-13 17:49:29 [Message] fib_1618 -> Chat: it's really all in the percentages
2012-09-13 17:50:33 [Message] fib_1618 -> Chat: anything else?
2012-09-13 17:50:37 [Message] thespookyone -> Chat: Could you take a real quick look at the chart on TRV and give me a current take. please?-I've owned September calls about 10 days now. (an eternity for me. LOL)
2012-09-13 17:51:31 [Message] fib_1618 -> Chat: sure...for the record, we are 625 points away from all time closing highs on the Dow now
2012-09-13 17:51:48 [Message] fib_1618 -> Chat: we were up 206 today
2012-09-13 17:52:04 [Message] fib_1618 -> Chat: duplicate that feat a couple more times and we're there
2012-09-13 17:52:08 [Message] fib_1618 -> Chat: OK...TRV
2012-09-13 17:52:19 [Message] fib_1618 -> Chat: lol
2012-09-13 17:52:25 [Message] fib_1618 -> Chat: I"m sorry
2012-09-13 17:52:30 [Message] fib_1618 -> Chat: but what did you want to know?
2012-09-13 17:52:33 [Message] fib_1618 -> Chat: lol
2012-09-13 17:52:47 [Message] thespookyone -> Chat: when to think of an exit
2012-09-13 17:53:00 [Message] fib_1618 -> Chat: lol
2012-09-13 17:53:05 [Message] fib_1618 -> Chat: for call options?
2012-09-13 17:53:09 [Message] thespookyone -> Chat: yes
2012-09-13 17:53:11 [Message] fib_1618 -> Chat: you bought them?
2012-09-13 17:53:15 [Message] thespookyone -> Chat: yes
2012-09-13 17:53:21 [Message] fib_1618 -> Chat: strike price?
2012-09-13 17:53:38 [Message] thespookyone -> Chat: 67.5-they were almost free
2012-09-13 17:53:42 [Message] fib_1618 -> Chat: lol
2012-09-13 17:53:45 [Message] fib_1618 -> Chat: you're kidding!
2012-09-13 17:53:49 [Message] thespookyone -> Chat: nope
2012-09-13 17:53:53 [Message] fib_1618 -> Chat: September?
2012-09-13 17:53:57 [Message] thespookyone -> Chat: yep
2012-09-13 17:54:21 [Message] fib_1618 -> Chat: let me look at the intraday
2012-09-13 17:54:26 [Message] fib_1618 -> Chat: btw folks
2012-09-13 17:54:35 [Message] fib_1618 -> Chat: Travelers is at all time highs right now
2012-09-13 17:54:41 [Message] thespookyone -> Chat: cool, thx much-holding a lot of profit, kinda nervous
2012-09-13 17:54:41 [Message] fib_1618 -> Chat: I would buy a leap
2012-09-13 17:54:46 [Message] fib_1618 -> Chat: you should be with a week to go
2012-09-13 17:54:53 [Message] fib_1618 -> Chat: September, indeed!
2012-09-13 17:54:56 [Message] fib_1618 -> Chat: lol
2012-09-13 17:55:02 [Message] thespookyone -> Chat: I just had to...
2012-09-13 17:55:06 [Message] fib_1618 -> Chat: hold on...let me look
2012-09-13 17:55:14 [Message] fib_1618 -> Chat: geez...get some discipline! :)
2012-09-13 17:55:28 [Message] thespookyone -> Chat: insurance has been good to me here
2012-09-13 17:55:43 [Message] fib_1618 -> Chat: stop @ 68.19
2012-09-13 17:55:51 [Message] fib_1618 -> Chat: and be done with it
2012-09-13 17:56:01 [Message] fib_1618 -> Chat: you have no time
2012-09-13 17:56:04 [Message] thespookyone -> Chat: cool, much appreciated!
2012-09-13 17:56:10 [Message] fib_1618 -> Chat: so if the market opens soft...just unload
2012-09-13 17:56:16 [Message] thespookyone -> Chat: ok
2012-09-13 17:56:35 [Message] fib_1618 -> Chat: you're in the money
2012-09-13 17:56:42 [Message] fib_1618 -> Chat: so you should move point for point
2012-09-13 17:57:02 [Message] fib_1618 -> Chat: it was a good trade though
2012-09-13 17:57:07 [Message] fib_1618 -> Chat: you had so much support at 67.50
2012-09-13 17:57:24 [Message] thespookyone -> Chat: thx, risky, but my ORI was working so well-I went hunting
2012-09-13 17:57:38 [Message] fib_1618 -> Chat: you got them before the Fed?
2012-09-13 17:57:53 [Message] thespookyone -> Chat: 10 days ago
2012-09-13 17:57:53 [Message] hossman -> Chat: Why 68.19.  How did you determine that number?
2012-09-13 17:58:00 [Message] fib_1618 -> Chat: really?
2012-09-13 17:58:05 [Message] fib_1618 -> Chat: wow...you got bailed out
2012-09-13 17:58:07 [Message] thespookyone -> Chat: yes
2012-09-13 17:58:16 [Message] thespookyone -> Chat: and, YES, LOL
2012-09-13 17:58:33 [Message] fib_1618 -> Chat: John...are you able to pull up a 5 minute chart?
2012-09-13 17:59:09 [Message] hossman -> Chat: Yes but it will take a few minutes
2012-09-13 17:59:14 [Message] fib_1618 -> Chat: when you do
2012-09-13 17:59:33 [Message] hossman -> Chat: I'm there
2012-09-13 17:59:37 [Message] fib_1618 -> Chat: you'll see that 68.20 was the low @15:20
2012-09-13 18:00:00 [Message] hossman -> Chat: yep
2012-09-13 18:00:04 [Message] fib_1618 -> Chat: if you apply a 19 day EMA
2012-09-13 18:00:09 [Message] fib_1618 -> Chat: it also tested that support
2012-09-13 18:00:13 [Message] fib_1618 -> Chat: because of this
2012-09-13 18:00:23 [Message] fib_1618 -> Chat: and because Lew has no time value in the option
2012-09-13 18:00:35 [Message] fib_1618 -> Chat: the stop is a penny under that low of the day
2012-09-13 18:00:42 [Message] hossman -> Chat: got it.  thanks
2012-09-13 18:01:34 [Message] fib_1618 -> Chat: the importance of that is also magnified because that same 5 minute bar closed near the lows and then promptly reversed
2012-09-13 18:01:50 [Message] fib_1618 -> Chat: and then closed at the highs of the next 5 minute bar
2012-09-13 18:01:58 [Message] fib_1618 -> Chat: a reversal then was established
2012-09-13 18:02:14 [Message] hossman -> Chat: yes
2012-09-13 18:02:22 [Message] fib_1618 -> Chat: so that increases the odds that an even higher amount of selling must take place to break that low
2012-09-13 18:02:30 [Message] fib_1618 -> Chat: and if that's broken...see ya!
2012-09-13 18:02:52 [Message] fib_1618 -> Chat: notice the volume spike as well
2012-09-13 18:02:56 [Message] thespookyone -> Chat: appreciate the other set of eyes a lot there, truly much appreciated
2012-09-13 18:03:10 [Message] hossman -> Chat: Just more $$ for Lew to put towards the island  :D
2012-09-13 18:03:15 [Message] fib_1618 -> Chat: anyway...that gives him a 1/4 point to work with
2012-09-13 18:03:20 [Message] fib_1618 -> Chat: lol
2012-09-13 18:03:30 [Message] fib_1618 -> Chat: yea...and I still haven't received an invite!!
2012-09-13 18:03:38 [Message] fib_1618 -> Chat: anything else?
2012-09-13 18:03:44 [Message] thespookyone -> Chat: you'd be first!
2012-09-13 18:03:57 [Message] fib_1618 -> Chat: OK...remember our next chat is next Thursday
2012-09-13 18:04:09 [Message] hossman -> Chat: Thanks Dave.  Another fun day, indeed
2012-09-13 18:04:24 [Message] fib_1618 -> Chat: just keep making money...that's all that counts
2012-09-13 18:04:31 [Message] Issac -> Chat: happy new year
2012-09-13 18:04:36 [Message] fib_1618 -> Chat: OK...everyone have a great weekend
2012-09-13 18:04:49 [Message] fib_1618 -> Chat: and yes...Happy New Yeak to you as well Issac
2012-09-13 18:04:55 [Message] Issac -> Chat: :)
2012-09-13 18:05:09 [Message] fib_1618 -> Chat: and we'll meet up again next week
2012-09-13 18:05:12 [Message] fib_1618 -> Chat: good night

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

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

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

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

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

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

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