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fib_1618

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Reply with quote  #1 
OK - all up to date...thanks for your patience!

2008-09-25 19:00:07 [Message] fib_1618 -> Main Room: good day
2008-09-25 19:00:11 [Message] fib_1618 -> Main Room: how is everyone?
2008-09-25 19:00:35 [Message] TradeMark -> Main Room: GD, well thank you, and you?
2008-09-25 19:00:43 [Message] slatedrake -> Main Room: doing well thanks
2008-09-25 19:00:48 [Message] fib_1618 -> Main Room: well...I guess I'm fine..this flu has taken a lot out of me
2008-09-25 19:02:56 [Message] fib_1618 -> Main Room: OK...so...any questions or comments??
2008-09-25 19:03:22 [Message] TradeMark -> Main Room: Bear market over....Gbmt has plan to fix everything
2008-09-25 19:03:30 [Message] fib_1618 -> Main Room: did you folks hear that troops are being deployed in the US starting October 1?
2008-09-25 19:03:36 [Message] dave -> Main Room: rimm crashing
2008-09-25 19:03:42 [Message] fib_1618 -> Main Room: kewl
2008-09-25 19:03:46 [Message] dave -> Main Room: down 20 bucks
2008-09-25 19:03:51 [Message] fib_1618 -> Main Room: ouch
2008-09-25 19:03:52 [Message] dave -> Main Room: going to be tough on ndx
2008-09-25 19:04:09 [Message] slatedrake -> Main Room: being deployed where fib?
2008-09-25 19:04:18 [Message] TradeMark -> Main Room: Troops...for what?
2008-09-25 19:04:20 [Message] fib_1618 -> Main Room: let me get the link...
2008-09-25 19:04:25 [Message] slatedrake -> Main Room: ty
2008-09-25 19:04:26 [Message] fib_1618 -> Main Room: to "keep order"
2008-09-25 19:04:41 [Message] fib_1618 -> Main Room: not surprising given the climate
2008-09-25 19:04:45 [Message] TradeMark -> Main Room: probably to protect Congress from taxpayers
2008-09-25 19:04:50 [Message] fib_1618 -> Main Room: and what could happen after November
2008-09-25 19:05:32 [Message] fib_1618 -> Main Room: http://tinyurl.com/3sendx
2008-09-25 19:06:47 [Message] fib_1618 -> Main Room: OK...let's get started
2008-09-25 19:07:16 [Message] fib_1618 -> Main Room: as was the expectation on Tuesday (given by TM), the CO NYSE breadth MCO did indeed snapped back to its zero line
2008-09-25 19:07:51 [Message] fib_1618 -> Main Room: giving us the potential for a bottom above bottom structure
2008-09-25 19:08:18 [Message] fib_1618 -> Main Room: as we are still working off the presumptive "key reversal" bar of last Thursday
2008-09-25 19:08:48 [Message] fib_1618 -> Main Room: a higher high here in both the MCO, and the NYA price action, would go a long way in affirming this same range bar
2008-09-25 19:09:21 [Message] fib_1618 -> Main Room: meanwhile, the CO NYSE breadth MCSUM continues it's congestive behavior with a downside bias at this time
2008-09-25 19:10:03 [Message] fib_1618 -> Main Room: near term support here would come at the inverted ledge structure seen on the MCSUM seen in August
2008-09-25 19:10:50 [Message] fib_1618 -> Main Room: until we break below this level, or move above the current congestion, a choppy consolidation pattern will be the direct result as the bulls and bears fight it out
2008-09-25 19:11:19 [Message] fib_1618 -> Main Room: so...technically on a short term sell signal...with intermediate term being neutral
2008-09-25 19:12:10 [Message] fib_1618 -> Main Room: after the purging spike of last week, the composite NYSE breadth MCO is now attempting to constructive it's own bottom above a bottom structure
2008-09-25 19:12:50 [Message] fib_1618 -> Main Room: but as we also know, it's more than likely that another price/MCO retest will probably come later on to provide some divergence to the current interplay
2008-09-25 19:13:47 [Message] fib_1618 -> Main Room: on an intermediate term basis, the composite NYSE breadth MCSUM is now minimally "oversold" having crossed below the -500 level
2008-09-25 19:14:59 [Message] fib_1618 -> Main Room: so we'll have to see how things shape up with the interest rate sensitives in the next few days as we wait for a final "plan" from Washington
2008-09-25 19:15:23 [Message] fib_1618 -> Main Room: looking at the chart pattern of the NYA and we see that a declining tops line comes in at around the 8400 level
2008-09-25 19:16:21 [Message] fib_1618 -> Main Room: which would allow for some further "relief" to the upside, while at the same time, continue to show a market that is heavy
2008-09-25 19:16:44 [Message] fib_1618 -> Main Room: same kind of situation with the NASDAQ data
2008-09-25 19:17:16 [Message] fib_1618 -> Main Room: so nothing to add there
2008-09-25 19:17:43 [Message] fib_1618 -> Main Room: the NDX breadth MCO has now traveled back up above its zero line today
2008-09-25 19:18:03 [Message] fib_1618 -> Main Room: with a nice series of bottoms above bottoms continuing to control the action
2008-09-25 19:18:04 [Message] TradeMark -> Main Room: That may change tomorrow.....RIMM
2008-09-25 19:18:14 [Message] bill -> Main Room: hi fib...i am seeing vol MCO looking better on several indices...can you clarify what this implies
2008-09-25 19:18:15 [Message] fib_1618 -> Main Room: it might...but one stock does not mean all
2008-09-25 19:18:30 [Message] fib_1618 -> Main Room: better in what respect Bill?
2008-09-25 19:18:58 [Message] bill -> Main Room: breaking 0 line for nas as an example
2008-09-25 19:19:06 [Message] fib_1618 -> Main Room: well...we are choppy here
2008-09-25 19:19:43 [Message] fib_1618 -> Main Room: and if we look at the NDX breadth MCSUM, we also see that although we seen unwinding to the downside, it's not like the bears have had total control of the action either
2008-09-25 19:19:47 [Message] fib_1618 -> Main Room: which would mean...
2008-09-25 19:20:12 [Message] fib_1618 -> Main Room: that it's not the entire group of stocks that are falling by the wayside...but more in the area of those issues that have a heavier weight in the index
2008-09-25 19:20:30 [Message] fib_1618 -> Main Room: this is something we discussed in August...and seems to be working out nicely
2008-09-25 19:20:40 [Message] fib_1618 -> Main Room: how do we know this?
2008-09-25 19:21:10 [Message] hiker -> Main Room: fyi, SPY in ah is trading 120.00 now vs. the lowest 60 min close today of 120.35
2008-09-25 19:21:31 [Message] fib_1618 -> Main Room: as we look at the individual postings on the MCSUM, we notice that although the direction has been lower, the amount of energy (the separation of postings) have been closely plotted
2008-09-25 19:21:55 [Message] fib_1618 -> Main Room: this provides the insight that the bears don't have as much control as many believe
2008-09-25 19:22:09 [Message] fib_1618 -> Main Room: at least in regards to the NDX group of issues
2008-09-25 19:22:25 [Message] bill -> Main Room: thx for clarifying
2008-09-25 19:22:47 [Message] dave -> Main Room: rimm is a huge weight in ndx
2008-09-25 19:22:48 [Message] fib_1618 -> Main Room: so although RIMM will hurt the average tomorrow...it's the broader base that's important as not to cloud what's really going on under the surface
2008-09-25 19:22:50 [Message] dave -> Main Room: like 5%
2008-09-25 19:23:06 [Message] fib_1618 -> Main Room: that's OK...it keeps many from moving INTO issues, while at the same time, it purges the weak hands
2008-09-25 19:23:27 [Message] fib_1618 -> Main Room: reflex action
2008-09-25 19:23:56 [Message] fib_1618 -> Main Room: like we've talked about in the past
2008-09-25 19:24:16 [Message] fib_1618 -> Main Room: it's not people selling that make prices move lower, it's prices moving lower that make people sell
2008-09-25 19:24:43 [Message] fib_1618 -> Main Room: all part of the fear factor in which we deal with on a daily basis
2008-09-25 19:24:48 [Message] fib_1618 -> Main Room: for example
2008-09-25 19:24:55 [Message] fib_1618 -> Main Room: not too many accumulated stock last week
2008-09-25 19:25:14 [Message] fib_1618 -> Main Room: and if you bought a basket, you may have hit some stops
2008-09-25 19:25:36 [Message] fib_1618 -> Main Room: then again...the undertone of the current market is highly volatile right now
2008-09-25 19:25:51 [Message] fib_1618 -> Main Room: so you have to pick selectively - XLF for example
2008-09-25 19:26:26 [Message] fib_1618 -> Main Room: and there are other areas...but each selection should have a plan...a purpose
2008-09-25 19:26:44 [Message] fib_1618 -> Main Room: XLF...more of an intermediate term hold based solely on the MCSUM
2008-09-25 19:26:53 [Message] dave -> Main Room: how does xlf near term look?
2008-09-25 19:27:04 [Message] fib_1618 -> Main Room: we'll check it out in a sec
2008-09-25 19:27:16 [Message] fib_1618 -> Main Room: to finish the thought on the NDX
2008-09-25 19:27:58 [Message] fib_1618 -> Main Room: you will also notice that the NDX breadth MCSUM is now deemed as fully "oversold" being that we're getting close to the -750 level
2008-09-25 19:28:19 [Message] fib_1618 -> Main Room: and the deeper the MCSUM goes in either direction, the harder it becomes for that side to keep the ball rolling
2008-09-25 19:28:50 [Message] fib_1618 -> Main Room: this is why most dramatic moves in the market tends to happen with the MCSUM is at or near its zero line
2008-09-25 19:29:17 [Message] fib_1618 -> Main Room: it's the same idea that we see when and short and intermediate term EMA are in close proximately of each other
2008-09-25 19:29:55 [Message] fib_1618 -> Main Room: we have seen how the market tends to explode when this kind of situation develops over the last several months on the combo charts
2008-09-25 19:30:12 [Message] fib_1618 -> Main Room: it's just a matter of everyone being evened up, and looking for direction
2008-09-25 19:30:24 [Message] fib_1618 -> Main Room: "evened up" being another way to show acute indecision
2008-09-25 19:30:41 [Message] fib_1618 -> Main Room: and when the answer is known...we unwind very quickly
2008-09-25 19:30:58 [Message] fib_1618 -> Main Room: this is why we probably won't see a crash like event in this time period as well
2008-09-25 19:31:07 [Message] bill -> Main Room: ndx looks like decent buy with weakness from rimm tom...i think i will buy some qqqq
2008-09-25 19:31:15 [Message] fib_1618 -> Main Room: even though it seems that many are looking for something like this happen once again
2008-09-25 19:31:22 [Message] fib_1618 -> Main Room: to be candid
2008-09-25 19:31:34 [Message] fib_1618 -> Main Room: everyone has their own level of trading experiences in these manners
2008-09-25 19:32:00 [Message] fib_1618 -> Main Room: some are able to take more risk, and are better able to take a profit, or know when they've made a mistake
2008-09-25 19:32:09 [Message] fib_1618 -> Main Room: but many are not so discipline
2008-09-25 19:32:37 [Message] fib_1618 -> Main Room: keep in mind that what we review here in the chat room is more for those who are looking for multi month price direction
2008-09-25 19:32:42 [Message] fib_1618 -> Main Room: trends
2008-09-25 19:33:15 [Message] TradeMark -> Main Room: Trend?? what is that? I forgot
2008-09-25 19:33:24 [Message] fib_1618 -> Main Room: and in the last couple of weeks, although the internals continued to say choppy, the moves have been quite substantial to where you could make money very easily day trading
2008-09-25 19:33:26 [Message] fib_1618 -> Main Room: lol
2008-09-25 19:33:36 [Message] fib_1618 -> Main Room: something that has evaded the market since July
2008-09-25 19:33:40 [Message] fib_1618 -> Main Room: like I've said many times
2008-09-25 19:33:44 [Message] fib_1618 -> Main Room: it's going to take time for this to work itself out
2008-09-25 19:34:02 [Message] fib_1618 -> Main Room: nothing has changed at all in spite of many indications that a turn was being constructed
2008-09-25 19:34:23 [Message] fib_1618 -> Main Room: it takes a lot of time for trends - either up OR down - to develop
2008-09-25 19:34:38 [Message] fib_1618 -> Main Room: this is why 80% of the time the market is in corrective mode
2008-09-25 19:34:52 [Message] fib_1618 -> Main Room: and why trends in price are very special times
2008-09-25 19:35:12 [Message] fib_1618 -> Main Room: this is why we also find the use of an oscillator to be our best technical tool
2008-09-25 19:35:31 [Message] fib_1618 -> Main Room: because oscillators work their best magic not during times of trend, but times of consolidation - like now
2008-09-25 19:35:41 [Message] fib_1618 -> Main Room: the MCO gives us the short term view - the MCSUM the intermediate term view
2008-09-25 19:35:58 [Message] fib_1618 -> Main Room: one is to be used to gauge a starting point
2008-09-25 19:36:13 [Message] fib_1618 -> Main Room: and one is to be used to gauge a completion
2008-09-25 19:36:17 [Message] fib_1618 -> Main Room: they work together
2008-09-25 19:36:43 [Message] fib_1618 -> Main Room: the current problem is that we have a whirlpool of opinions going on right now
2008-09-25 19:37:06 [Message] fib_1618 -> Main Room: if we have a bailout, will it be enough to bring confidence back?
2008-09-25 19:37:13 [Message] fib_1618 -> Main Room: will it be enough to bring money back?
2008-09-25 19:37:28 [Message] fib_1618 -> Main Room: short term, the answer is probably yes
2008-09-25 19:37:37 [Message] fib_1618 -> Main Room: but we don't have any confirmation of this
2008-09-25 19:37:45 [Message] fib_1618 -> Main Room: only the EXPECTATION of such a turn
2008-09-25 19:37:59 [Message] fib_1618 -> Main Room: until we get confirmation of this same expectation...this is a traders market
2008-09-25 19:38:11 [Message] fib_1618 -> Main Room: and it doesn't matter if its up or down
2008-09-25 19:38:43 [Message] fib_1618 -> Main Room: unless we have relentless energy pulling prices in one direction or the other, you're going to get stagnant conditions
2008-09-25 19:39:03 [Message] fib_1618 -> Main Room: and in this case, with the wide price swings, profitable ones IF you're nimble and are not a pig
2008-09-25 19:39:23 [Message] fib_1618 -> Main Room: now...just to throw this into the arena of thought
2008-09-25 19:39:42 [Message] fib_1618 -> Main Room: if we take an Elliott view of things in measuring this same psychological force
2008-09-25 19:40:39 [Message] fib_1618 -> Main Room: the idea of this being a second wave structure correcting the excesses of the 2002-2007 period would mean that - IF this is the case - that wave 3 higher would be the next price structure in the chain
2008-09-25 19:40:51 [Message] fib_1618 -> Main Room: and 3rd waves are ALWAYS volatile
2008-09-25 19:40:56 [Message] fib_1618 -> Main Room: not at first
2008-09-25 19:41:22 [Message] fib_1618 -> Main Room: but the percentage moves in the direction of the trend increase as the structure matures
2008-09-25 19:41:35 [Message] fib_1618 -> Main Room: so...this could be just a warm up to things to come
2008-09-25 19:41:40 [Message] fib_1618 -> Main Room: and in the same breath
2008-09-25 19:42:02 [Message] fib_1618 -> Main Room: we also could be having a small second wave against a down trend right now as well
2008-09-25 19:42:19 [Message] fib_1618 -> Main Room: so this volatility would also lend itself IF wave 3 lower is about to unwind
2008-09-25 19:42:27 [Message] fib_1618 -> Main Room: so the market is saying many things right now
2008-09-25 19:43:01 [Message] fib_1618 -> Main Room: our mission...if we decide to accept it...is to look for the correct pieces to fall into place so that a trend can develop...either up or down
2008-09-25 19:43:11 [Message] fib_1618 -> Main Room: right now...the bears have a slight advantage, but they haven't really been mauling the participants either
2008-09-25 19:43:38 [Message] fib_1618 -> Main Room: one day...ugly...but then they can't follow through
2008-09-25 19:44:04 [Message] fib_1618 -> Main Room: and this leads to these same bearish positions in covering quite quickly
2008-09-25 19:44:25 [Message] fib_1618 -> Main Room: and so down 2% - up 2%...it's like a bungee cord
2008-09-25 19:44:47 [Message] fib_1618 -> Main Room: hard to trade...easier to skim
2008-09-25 19:45:03 [Message] fib_1618 -> Main Room: so...it's up to everyone's stomach
2008-09-25 19:45:19 [Message] hiker -> Main Room: fwiw, it was just announced that the FDIC is seizing WM
2008-09-25 19:45:21 [Message] fib_1618 -> Main Room: for now...the odds favor continued bottoming action
2008-09-25 19:45:28 [Message] fib_1618 -> Main Room: REALLY?
2008-09-25 19:45:55 [Message] fib_1618 -> Main Room: do you have a link?
2008-09-25 19:46:07 [Message] fib_1618 -> Main Room: and just where is the FDIC going to get the money?
2008-09-25 19:46:19 [Message] fib_1618 -> Main Room: they need 150 billion from what I've read?
2008-09-25 19:47:09 [Message] fib_1618 -> Main Room: not on the FDIC website yet
2008-09-25 19:47:44 [Message] hiker -> Main Room: JPM 43.46, +2.96, +7.3%) will acquire most of Washington Mutual Inc.'s operations, according to a report published late Thursday. The online edition of The Wall Street Journal, citing unnamed sources, reported that the exact structure of the transaction remains unclear. Washington Mutual (WM:Washington Mutual Inc
2008-09-25 19:48:11 [Message] fib_1618 -> Main Room: OK...that's better
2008-09-25 19:48:17 [Message] fib_1618 -> Main Room: and that's exactly what I expected
2008-09-25 19:48:38 [Message] fib_1618 -> Main Room: JPM issues the online banking checks for WAMU
2008-09-25 19:49:03 [Message] dave -> Main Room: this wave 3 down idea looks entirely possible
2008-09-25 19:49:10 [Message] dave -> Main Room: more so than i would like to admit
2008-09-25 19:49:11 [Message] fib_1618 -> Main Room: I was in the bank on Monday and was again talking to the branch manager
2008-09-25 19:49:45 [Message] fib_1618 -> Main Room: I walked up to her, and the first words our her mouth to me was "OK, we're taking bets, what do you think is going to happen"?
2008-09-25 19:49:56 [Message] tahiti -> Main Room: http://tinyurl.com/5yg8kn
2008-09-25 19:50:00 [Message] fib_1618 -> Main Room: I told her, more than likely, JPM will take them over
2008-09-25 19:50:14 [Message] fib_1618 -> Main Room: that was what she thought too...she's been around for 25 years
2008-09-25 19:50:24 [Message] fib_1618 -> Main Room: thanks Tahiti
2008-09-25 19:50:32 [Message] fib_1618 -> Main Room: OK...now that that's out of the way
2008-09-25 19:50:41 [Message] fib_1618 -> Main Room: that's very good news
2008-09-25 19:50:55 [Message] dave -> Main Room: all equity and DEBT holders wiped out
2008-09-25 19:50:57 [Message] fib_1618 -> Main Room: will have to let the dust settle and see how it works out
2008-09-25 19:51:03 [Message] dave -> Main Room: getting all branches and deposits
2008-09-25 19:51:09 [Message] fib_1618 -> Main Room: JPM?
2008-09-25 19:51:13 [Message] dave -> Main Room: yep
2008-09-25 19:51:36 [Message] fib_1618 -> Main Room: OK...that was our reasoning...they now have a presence on the west coast, and that's what they've been wanting for a while
2008-09-25 19:52:16 [Message] dave -> Main Room: forgot what bank but one of them sent wamu 2 billion
2008-09-25 19:52:18 [Message] dave -> Main Room: thats gone
2008-09-25 19:52:46 [Message] fib_1618 -> Main Room: "The exact structure of the transaction remains unclear."
2008-09-25 19:52:57 [Message] dave -> Main Room: was just reported right now
2008-09-25 19:52:59 [Message] dave -> Main Room: david faber
2008-09-25 19:53:05 [Message] fib_1618 -> Main Room: one of the hedge funds in UK did
2008-09-25 19:53:05 [Message] dave -> Main Room: broke story
2008-09-25 19:53:24 [Message] fib_1618 -> Main Room: it was...oh...I know who it is...can't think of his name
2008-09-25 19:53:27 [Message] dave -> Main Room: there is a publicly traded bank
2008-09-25 19:53:32 [Message] dave -> Main Room: Texas something or other
2008-09-25 19:53:46 [Message] fib_1618 -> Main Room: that might be...didn't read about that
2008-09-25 19:53:53 [Message] fib_1618 -> Main Room: in any event...OK...onward
2008-09-25 19:54:29 [Message] fib_1618 -> Main Room: need to close all these windows
2008-09-25 19:54:32 [Message] oextrader -> Main Room: texas pacific group
2008-09-25 19:54:41 [Message] fib_1618 -> Main Room: ahhhh yes...now I remember
2008-09-25 19:54:53 [Message] fib_1618 -> Main Room: depends on the weight of the issue
2008-09-25 19:55:18 [Message] fib_1618 -> Main Room: let's wait for a confirmation before we go bonkers
2008-09-25 19:55:33 [Message] fib_1618 -> Main Room: unnamed sources are just that
2008-09-25 19:55:40 [Message] TradeMark -> Main Room: Well, just guilt by association. is not too good
2008-09-25 19:55:47 [Message] fib_1618 -> Main Room: tut tut
2008-09-25 19:56:04 [Message] fib_1618 -> Main Room: sounds "bankist" to me
2008-09-25 19:56:07 [Message] fib_1618 -> Main Room:
2008-09-25 19:56:55 [Message] fib_1618 -> Main Room: most times what happens is that when you finally get clarity, the market is able to work it off
2008-09-25 19:57:19 [Message] fib_1618 -> Main Room: many lessons being learned here
2008-09-25 19:57:34 [Message] fib_1618 -> Main Room: but you can rest assured that they will be repeated again
2008-09-25 19:57:51 [Message] fib_1618 -> Main Room: the SPX breadth MCO is now back to its zero line
2008-09-25 19:57:59 [Message] hiker -> Main Room: WM now trading at .39 vs day close of 1.69
2008-09-25 19:58:04 [Message] fib_1618 -> Main Room: bummer
2008-09-25 19:58:20 [Message] TradeMark -> Main Room: Congress in session....that is always a loose cannon on the deck
2008-09-25 19:58:34 [Message] fib_1618 -> Main Room: yes - especially when they are dealing with money
2008-09-25 19:58:56 [Message] fib_1618 -> Main Room: here's a group that can't balance their own budget, and they want to "oversee" a bailout?
2008-09-25 19:59:33 [Message] fib_1618 -> Main Room: and this continues to keep the SPX breadth MCSUM treading water just above the -200 level
2008-09-25 20:00:01 [Message] fib_1618 -> Main Room: now...being that the MCSUM is in and around its zero line, we still should be on guard for what could be a crash like event
2008-09-25 20:00:38 [Message] fib_1618 -> Main Room: but being that we are that far away from the zero line itself, any potential of something like this is not as high as it would be if it were at the zero line
2008-09-25 20:01:21 [Message] fib_1618 -> Main Room: on the bullish side, the ability of the SPX breadth MCSUM to move crisply higher after the July lows
2008-09-25 20:01:41 [Message] fib_1618 -> Main Room: and the bears only able to show congestion after such a situation
2008-09-25 20:01:54 [Message] fib_1618 -> Main Room: does indicate that there are strong underlying buying going on right now
2008-09-25 20:02:13 [Message] TradeMark -> Main Room: you talking about spx MCSUM? at -200 or so?
2008-09-25 20:02:18 [Message] fib_1618 -> Main Room: now whether or not this equates to trend development or not, certainly remains to be seen
2008-09-25 20:02:20 [Message] fib_1618 -> Main Room: yes TM
2008-09-25 20:02:49 [Message] fib_1618 -> Main Room: we haven't seen any fallout - especially in light of all of the craziness of the last couple of weeks
2008-09-25 20:03:19 [Message] fib_1618 -> Main Room: so there's several sides to this problem to be considered here
2008-09-25 20:03:29 [Message] TradeMark -> Main Room: Anybody have a handle on what this breaking news has done with futures?
2008-09-25 20:03:51 [Message] fib_1618 -> Main Room: and until things become clearer, we're just going to continue to chop around
2008-09-25 20:04:55 [Message] dave -> Main Room: dow futs down 100
2008-09-25 20:04:58 [Message] fib_1618 -> Main Room: but my take here is that this was already discounted last Thursday
2008-09-25 20:05:03 [Message] dave -> Main Room: nas 15
2008-09-25 20:05:07 [Message] dave -> Main Room: sp 8
2008-09-25 20:05:16 [Message] TradeMark -> Main Room: thanks dave
2008-09-25 20:05:20 [Message] fib_1618 -> Main Room: OK...not too bad...what was it before the announcement - do you know?
2008-09-25 20:05:30 [Message] fib_1618 -> Main Room: ball park
2008-09-25 20:05:33 [Message] hiker -> Main Room: 1204 on SP
2008-09-25 20:05:34 [Message] dave -> Main Room: the announcement of wamu is not news
2008-09-25 20:05:40 [Message] dave -> Main Room: the news of the deal being dead
2008-09-25 20:05:41 [Message] fib_1618 -> Main Room: agreed
2008-09-25 20:05:43 [Message] dave -> Main Room: is why we are down
2008-09-25 20:05:49 [Message] fib_1618 -> Main Room: what's dead?
2008-09-25 20:05:54 [Message] dave -> Main Room: the bailout
2008-09-25 20:05:59 [Message] dave -> Main Room: talks broke down
2008-09-25 20:06:02 [Message] fib_1618 -> Main Room: lol
2008-09-25 20:06:05 [Message] fib_1618 -> Main Room: told ya!
2008-09-25 20:06:20 [Message] dave -> Main Room: thank mccain and house repubs
2008-09-25 20:06:21 [Message] TradeMark -> Main Room: good
2008-09-25 20:06:30 [Message] fib_1618 -> Main Room: thank them? OK...thanks!
2008-09-25 20:06:40 [Message] hiker -> Main Room: Republicans are pushing their own bailout plan and not agreeing to Treasury proposal..still in negotiations
2008-09-25 20:06:44 [Message] fib_1618 -> Main Room: and let's call things they way they are now
2008-09-25 20:06:45 [Message] dave -> Main Room: senate repubs, senat dems, house dems, HAD a deal
2008-09-25 20:06:46 [Message] dave -> Main Room: done
2008-09-25 20:06:56 [Message] dave -> Main Room: then the dems threw mccain under the bus
2008-09-25 20:07:07 [Message] fib_1618 -> Main Room: are you surprised?
2008-09-25 20:07:11 [Message] dave -> Main Room: and now he blew up the bus
2008-09-25 20:07:20 [Message] fib_1618 -> Main Room: are you surprised?
2008-09-25 20:07:22 [Message] dave -> Main Room: im surprised that the deal was announced today as being done by both sides of congress
2008-09-25 20:07:35 [Message] fib_1618 -> Main Room: nothing is "done" until a vote - and it's good that this plan has been stopped instead of being steamrolled through
2008-09-25 20:07:44 [Message] hiker -> Main Room: if SPY 119.60 to 119.78 acts as resistance tomorrow, watch out bulls
2008-09-25 20:07:50 [Message] dave -> Main Room: and the fed/treasury
2008-09-25 20:07:52 [Message] dave -> Main Room: and pres
2008-09-25 20:08:13 [Message] fib_1618 -> Main Room: like I said on Tuesday...there are huge problems now
2008-09-25 20:08:33 [Message] fib_1618 -> Main Room: one of them is that no one is going to take responsibility
2008-09-25 20:08:36 [Message] dave -> Main Room: they are all meeting tonight starting at 8pm to resume talks
2008-09-25 20:08:48 [Message] fib_1618 -> Main Room: and until someone does...there will not be an agreement
2008-09-25 20:08:58 [Message] fib_1618 -> Main Room: but that's OK...I rather the marketplace handle it
2008-09-25 20:09:03 [Message] dave -> Main Room: they both gave in on a lot
2008-09-25 20:09:10 [Message] fib_1618 -> Main Room: if any kind of capitalism is still alive, of course
2008-09-25 20:09:16 [Message] fib_1618 -> Main Room: that's politics
2008-09-25 20:09:25 [Message] dave -> Main Room: furthest to the left and to the right are against, all others are ok with it, except mccain
2008-09-25 20:09:27 [Message] fib_1618 -> Main Room: and giving in was not the problem
2008-09-25 20:09:34 [Message] fib_1618 -> Main Room: adding to the bailout was the problem
2008-09-25 20:09:39 [Message] fib_1618 -> Main Room: you can blame the pork
2008-09-25 20:09:43 [Message] dave -> Main Room: there was no adding
2008-09-25 20:09:50 [Message] fib_1618 -> Main Room: there is no right wing
2008-09-25 20:09:53 [Message] dave -> Main Room: they gave in without most of the adds
2008-09-25 20:10:02 [Message] fib_1618 -> Main Room: there is only centralist and socialists
2008-09-25 20:10:17 [Message] fib_1618 -> Main Room: let's be perfectly clear
2008-09-25 20:10:26 [Message] dave -> Main Room: dave, politics can get ugly, sorry to bring it up, stick to stocks?
2008-09-25 20:10:53 [Message] fib_1618 -> Main Room: that's fine...but it's better to understand the people who are our elected representatives
2008-09-25 20:11:06 [Message] fib_1618 -> Main Room: they are the problem
2008-09-25 20:11:09 [Message] dave -> Main Room: i understand that they all are aweful
2008-09-25 20:11:12 [Message] dave -> Main Room: both sides
2008-09-25 20:11:21 [Message] fib_1618 -> Main Room: there aren't any sides anymore
2008-09-25 20:11:24 [Message] dave -> Main Room: I'm moving to Mexico
2008-09-25 20:11:31 [Message] fib_1618 -> Main Room: there all playing on the same team
2008-09-25 20:11:35 [Message] fib_1618 -> Main Room: and that's the problem
2008-09-25 20:11:38 [Message] fib_1618 -> Main Room: Mexico?
2008-09-25 20:11:45 [Message] fib_1618 -> Main Room: oh boy!
2008-09-25 20:11:49 [Message] dave -> Main Room: yeah, nice beaches and really good water
2008-09-25 20:11:51 [Message] dave -> Main Room: LOL
2008-09-25 20:11:54 [Message] fib_1618 -> Main Room: you think it's bad here?
2008-09-25 20:12:03 [Message] fib_1618 -> Main Room: how about Costa Rica?
2008-09-25 20:12:07 [Message] fib_1618 -> Main Room: OK...let's move on
2008-09-25 20:12:08 [Message] dave -> Main Room: i love it there
2008-09-25 20:12:11 [Message] dave -> Main Room: just went
2008-09-25 20:12:27 [Message] fib_1618 -> Main Room: the OEX breadth MCO is also at its zero line
2008-09-25 20:12:35 [Message] fib_1618 -> Main Room: and just like we've talked about many times in the past
2008-09-25 20:12:54 [Message] fib_1618 -> Main Room: when your at an oscillators zero line (or 50%) one side is about to take control of the action
2008-09-25 20:13:04 [Message] fib_1618 -> Main Room: how much they push is always the question
2008-09-25 20:13:31 [Message] fib_1618 -> Main Room: even the Dow data is pretty much neutral now
2008-09-25 20:13:42 [Message] TradeMark -> Main Room: What about mcsum for OEX?
2008-09-25 20:13:45 [Message] fib_1618 -> Main Room: good timing for the WAMU announcement?
2008-09-25 20:14:04 [Message] fib_1618 -> Main Room: the OEX breadth MCSUM is supporting the same kind of congestion that the SPX is supporting
2008-09-25 20:14:11 [Message] fib_1618 -> Main Room: so I kind of skipped it - sorry
2008-09-25 20:14:20 [Message] TradeMark -> Main Room: thanks
2008-09-25 20:14:49 [Message] fib_1618 -> Main Room: the troubling bit of news for the bulls yesterday was seeing the MID breadth MCO moving to lower lows
2008-09-25 20:14:59 [Message] fib_1618 -> Main Room: which has created a reset in the pattern
2008-09-25 20:15:41 [Message] fib_1618 -> Main Room: and being the that the MID breadth MCSUM is now challenging the lows of the previous inverted ledge
2008-09-25 20:15:59 [Message] fib_1618 -> Main Room: it will now be important to see the bulls step up to hold the flag that was created yesterday on the MCO
2008-09-25 20:16:19 [Message] fib_1618 -> Main Room: lower lows on the MCO from here, and we should see the price action also move to lower lows as well
2008-09-25 20:16:32 [Message] fib_1618 -> Main Room: and since this MCSUM is at the -200 level
2008-09-25 20:16:47 [Message] fib_1618 -> Main Room: there's quite a bit of unwinding that might be the outcome
2008-09-25 20:16:58 [Message] fib_1618 -> Main Room: and that of a divergent one
2008-09-25 20:17:02 [Message] bill -> Main Room: here again...the vol mco did not make lower low
2008-09-25 20:17:08 [Message] fib_1618 -> Main Room: so, even if we continue to make new price lows here
2008-09-25 20:17:25 [Message] fib_1618 -> Main Room: we have several MCSUM's building divergence right now
2008-09-25 20:18:07 [Message] fib_1618 -> Main Room: of course, if we do take out the lows created back in July of 2007 on the MCO in the process, then you can kiss the advancing price structure goooood bye as this would create lower price lows being confirmed by the internals
2008-09-25 20:18:44 [Message] fib_1618 -> Main Room: and if this happens, it's going to take a year or two to correct that situation
2008-09-25 20:19:01 [Message] fib_1618 -> Main Room: like we've talked about many times over the last couple of months
2008-09-25 20:19:17 [Message] fib_1618 -> Main Room: there will be plenty of time to catch the next intermediate to longer price trend
2008-09-25 20:19:37 [Message] fib_1618 -> Main Room: we just have to wait for the necessary confirmations to be able to sit back and watch it happen
2008-09-25 20:20:00 [Message] fib_1618 -> Main Room: like the MID, the SML breadth MCO also moved to lower lows yesterday
2008-09-25 20:20:14 [Message] fib_1618 -> Main Room: and this happened exactly where the bulls didn't want it to
2008-09-25 20:20:22 [Message] fib_1618 -> Main Room: right at the SML breadth MCSUM zero line
2008-09-25 20:20:37 [Message] fib_1618 -> Main Room: so here is an group of stocks that can "crash"
2008-09-25 20:21:04 [Message] fib_1618 -> Main Room: having moved from positive to negative, along with the accompanied news event(s) that make such things occur
2008-09-25 20:21:26 [Message] fib_1618 -> Main Room: it all depends on how much the bears want this to happen
2008-09-25 20:21:29 [Message] fib_1618 -> Main Room: more to the point
2008-09-25 20:21:34 [Message] fib_1618 -> Main Room: how much the bulls have given up on a resolution to the same problems
2008-09-25 20:21:48 [Message] fib_1618 -> Main Room: we should know in the next several days
2008-09-25 20:22:28 [Message] fib_1618 -> Main Room: keeping things from coming apart altogether is the level of the TM breadth MCSUM
2008-09-25 20:22:51 [Message] fib_1618 -> Main Room: which, with a reading of -623, does not suggest a crash like event from happening right now
2008-09-25 20:23:03 [Message] fib_1618 -> Main Room: at least on a broad base basis
2008-09-25 20:23:46 [Message] fib_1618 -> Main Room: given that the small caps live and die on credit, and given the current circumstances, one could suggest that maybe it will be only this group of stocks will take it on the chin
2008-09-25 20:24:07 [Message] fib_1618 -> Main Room: while the larger caps don't need this same credit life line
2008-09-25 20:24:16 [Message] fib_1618 -> Main Room: interesting times
2008-09-25 20:24:23 [Message] bill -> Main Room: no divergence there with vol mco
2008-09-25 20:24:38 [Message] fib_1618 -> Main Room: moving on to the sectors
2008-09-25 20:24:55 [Message] fib_1618 -> Main Room: the XLY breadth MCO (thanks Bill) also moved to a lower low yesterday
2008-09-25 20:25:12 [Message] fib_1618 -> Main Room: and this again happened with the the XLY breadth MCSUM moving down and through its zero line
2008-09-25 20:25:26 [Message] fib_1618 -> Main Room: this timely "impluses" tell a lot
2008-09-25 20:26:04 [Message] fib_1618 -> Main Room: and shows us how traders change opinions at critical junctures
2008-09-25 20:26:27 [Message] fib_1618 -> Main Room: "critical" being times in which traders are evened up
2008-09-25 20:26:33 [Message] fib_1618 -> Main Room: who will take control, and to what degree
2008-09-25 20:26:50 [Message] fib_1618 -> Main Room: this is probably the most exciting parts of trading technically
2008-09-25 20:26:53 [Message] fib_1618 -> Main Room: we can assume
2008-09-25 20:26:57 [Message] fib_1618 -> Main Room: we can ascertain
2008-09-25 20:27:28 [Message] fib_1618 -> Main Room: but until there is enough energy (and the evidence of such) to overwhelm the other side, it becomes an important observation still waiting for confirmation
2008-09-25 20:27:49 [Message] fib_1618 -> Main Room: the confirmation in this case would be see the individual postings on the MCSUM start to expand in one direction or the other
2008-09-25 20:28:10 [Message] fib_1618 -> Main Room: and right now...looking at the XLY...they are congested
2008-09-25 20:28:16 [Message] fib_1618 -> Main Room: so no trend
2008-09-25 20:28:33 [Message] fib_1618 -> Main Room: could be an obligatory snapback while waiting
2008-09-25 20:28:53 [Message] fib_1618 -> Main Room: but at face value, it's not enough to increase the percentage of a wining trade
2008-09-25 20:29:06 [Message] fib_1618 -> Main Room: all in all...the current MCSUM in this case is neutral with a slight bearish bias
2008-09-25 20:29:30 [Message] fib_1618 -> Main Room: if the bears can add to this...great...short
2008-09-25 20:29:45 [Message] fib_1618 -> Main Room: if not....stand aside until we see better control from the bull camp
2008-09-25 20:30:23 [Message] fib_1618 -> Main Room: I've always found that if I keep things as simple as possible the result is usually a good one
2008-09-25 20:30:47 [Message] fib_1618 -> Main Room: the XLP data is telling a slightly different story
2008-09-25 20:31:15 [Message] fib_1618 -> Main Room: in fact, today's move higher in the XLP breadth MCO has given us another short term buy signal
2008-09-25 20:31:48 [Message] fib_1618 -> Main Room: and looking at the XLP breadth MCSUM, it continues to find good support at last area of support above its zero line
2008-09-25 20:32:15 [Message] fib_1618 -> Main Room: so any further addition to today's reading should provide a nice accumulation point tomorrow
2008-09-25 20:32:35 [Message] fib_1618 -> Main Room: for the near term, if this MCO can take out the early September highs, then new all time highs should be seen on the price chart
2008-09-25 20:33:36 [Message] fib_1618 -> Main Room: one thing's for sure...money sure likes the security of these defensive issues right now
2008-09-25 20:33:55 [Message] fib_1618 -> Main Room: oh...and one more thing
2008-09-25 20:34:25 [Message] fib_1618 -> Main Room: if the XLP breadth MCO is able to take out last weeks high, we would then have bull divergence in place compared with the end of August period
2008-09-25 20:35:31 [Message] fib_1618 -> Main Room: as was the expectation 2 weeks ago, money continues to pick and choose on the XLE data
2008-09-25 20:36:22 [Message] fib_1618 -> Main Room: with bull divergence now in place on the XLE breadth MCO, and a nice little double bottom on the XLE breadth MCSUM behind us
2008-09-25 20:36:39 [Message] fib_1618 -> Main Room: keep in mind that until the MCSUM is able to get above the -500 level, the price action will continue to have a hard time moving in the direction of this same shorter term money flow
2008-09-25 20:37:11 [Message] fib_1618 -> Main Room: with a current reading of -648, we still have a ways to go
2008-09-25 20:37:52 [Message] fib_1618 -> Main Room: and it also explains why that, although we called the crude oil bottom in here a couple of weeks ago, the stocks themselves seem to be having a hard time moving in lock step with this same reversal
2008-09-25 20:38:33 [Message] fib_1618 -> Main Room: for now, and following the blueprint laid out by gold 3 months ago, the maximum objective for WTIC would be about the $135 level
2008-09-25 20:40:38 [Message] fib_1618 -> Main Room: and it could get there in a month or two
2008-09-25 20:40:49 [Message] fib_1618 -> Main Room: it's kind of early to say which bottom to use here
2008-09-25 20:41:24 [Message] fib_1618 -> Main Room: but the bottom line is that this crude rally is one to be shorted - not so much in trying to catch the wave higher
2008-09-25 20:41:30 [Message] fib_1618 -> Main Room: reason?
2008-09-25 20:41:33 [Message] fib_1618 -> Main Room: anyone?
2008-09-25 20:41:59 [Message] fib_1618 -> Main Room: if the correlation is to continue
2008-09-25 20:42:11 [Message] fib_1618 -> Main Room: we all know what happened to gold after it made its secondary top, don't we?
2008-09-25 20:42:17 [Message] fib_1618 -> Main Room: crash
2008-09-25 20:42:34 [Message] fib_1618 -> Main Room: but that's something for later on (and as long as the offset continues to be useful )
2008-09-25 20:43:16 [Message] fib_1618 -> Main Room: OK...now to our favorite whipping boy...the XLF
2008-09-25 20:43:25 [Message] dave -> Main Room: a wise man a week or so ago, mentioned the decline in gold and that oil if following gold should head lower, another wise man said that was not so
2008-09-25 20:43:52 [Message] fib_1618 -> Main Room: I'll have to meet him one day...or the other one
2008-09-25 20:44:13 [Message] fib_1618 -> Main Room: the XLF breadth MCO is now at its zero line
2008-09-25 20:44:29 [Message] fib_1618 -> Main Room: after making a slight lower low yesterday
2008-09-25 20:44:58 [Message] fib_1618 -> Main Room: this is all occurring as the XLF breadth MCSUM is at overhead MCSUM resistance
2008-09-25 20:45:16 [Message] fib_1618 -> Main Room: and is no way showing any kind of bearish conviction to its direction
2008-09-25 20:45:43 [Message] fib_1618 -> Main Room: in fact...it's attempting to find pattern support at the magical +250 level
2008-09-25 20:45:57 [Message] fib_1618 -> Main Room: on one side of the coin, with such an extended time being above the zero line, one should expect some sort of trading balance to appear short term
2008-09-25 20:46:38 [Message] fib_1618 -> Main Room: which would mean that the MCO should stay below the zero line for the next several weeks
2008-09-25 20:46:41 [Message] fib_1618 -> Main Room: on the other...
2008-09-25 20:47:30 [Message] fib_1618 -> Main Room: the lack of energy shown by the bears here, especially after being as highly "oversold" as this sector has been, does suggest that there is little in the way of mass selling available to drive prices lower
2008-09-25 20:47:59 [Message] fib_1618 -> Main Room: so why has it been difficult for the XLF to move above 22.50?
2008-09-25 20:48:16 [Message] TradeMark -> Main Room: must be because you can't short em
2008-09-25 20:48:17 [Message] fib_1618 -> Main Room: the answer for that was touched on last week with the position of the volume MCSUM
2008-09-25 20:48:35 [Message] fib_1618 -> Main Room: didn't stop the index from moving lower yesterday...did it?
2008-09-25 20:48:46 [Message] TradeMark -> Main Room: nope....
2008-09-25 20:48:51 [Message] fib_1618 -> Main Room: and especially Monday
2008-09-25 20:49:02 [Message] fib_1618 -> Main Room: bait and switch
2008-09-25 20:49:08 [Message] fib_1618 -> Main Room: all for the publics consumption
2008-09-25 20:49:37 [Message] fib_1618 -> Main Room: I found it curious that not one person asked the question on how the XLF was able to move lower without the benefit of shorting?
2008-09-25 20:50:03 [Message] fib_1618 -> Main Room: and I'm not talking about the public...the experts
2008-09-25 20:50:09 [Message] fib_1618 -> Main Room: no matter
2008-09-25 20:50:23 [Message] dave -> Main Room: i know how
2008-09-25 20:50:24 [Message] TradeMark -> Main Room: you mean here in the chat room?
2008-09-25 20:50:44 [Message] fib_1618 -> Main Room: it just once again goes to prove that whatever the government does to ease the fear of the public, it can NOT control a trend
2008-09-25 20:50:59 [Message] fib_1618 -> Main Room: not here in the chat...
2008-09-25 20:51:04 [Message] dave -> Main Room: nobody is buying b/c they weren't able to hedge position, and with all the stuff going on, nobody wanted a trade without a hedge
2008-09-25 20:51:13 [Message] fib_1618 -> Main Room: the media...the ones who were cheering this over the last weekend
2008-09-25 20:51:16 [Message] dave -> Main Room: left only longs who wanted to sell
2008-09-25 20:51:24 [Message] fib_1618 -> Main Room: is that allowed Dave?
2008-09-25 20:51:32 [Message] fib_1618 -> Main Room:
2008-09-25 20:51:36 [Message] dave -> Main Room: i think you are allowed to sell, till tomorrow
2008-09-25 20:51:40 [Message] dave -> Main Room: when they close the market
2008-09-25 20:51:51 [Message] fib_1618 -> Main Room: my goodness...I thought they outlawed that too??!?!?
2008-09-25 20:51:53 [Message] dave -> Main Room: b/c of the bailout breakdown and futs down 2000 pts
2008-09-25 20:52:11 [Message] dave -> Main Room: reopen when they have the deal
2008-09-25 20:52:11 [Message] fib_1618 -> Main Room: 200 points?
2008-09-25 20:52:26 [Message] dave -> Main Room: did i say 2000? i meant 4000
2008-09-25 20:52:31 [Message] fib_1618 -> Main Room: lol
2008-09-25 20:52:51 [Message] fib_1618 -> Main Room: well...with 2000 points, it would get far easier to trade!
2008-09-25 20:53:00 [Message] fib_1618 -> Main Room: back up the truck
2008-09-25 20:53:03 [Message] dave -> Main Room: trading the dia will soon be like trading an option
2008-09-25 20:53:07 [Message] fib_1618 -> Main Room: hold your nose
2008-09-25 20:53:14 [Message] fib_1618 -> Main Room: it isn't already?
2008-09-25 20:53:29 [Message] dave -> Main Room: i mean more like at the money at 4 bucks, not 110
2008-09-25 20:53:34 [Message] fib_1618 -> Main Room: anyway...the XLF looks stable
2008-09-25 20:53:57 [Message] hiker -> Main Room: my SnP futures are now showing 1198
2008-09-25 20:53:58 [Message] fib_1618 -> Main Room: although a final purge would be a wonderful opportunity
2008-09-25 20:54:05 [Message] fib_1618 -> Main Room: which is? (I don't know where the futures closed)
2008-09-25 20:54:24 [Message] dave -> Main Room: cash closed 1209
2008-09-25 20:54:29 [Message] dave -> Main Room: now 1199
2008-09-25 20:54:40 [Message] dave -> Main Room: es now 1199 rather
2008-09-25 20:54:41 [Message] fib_1618 -> Main Room: down 10 - thanks
2008-09-25 20:54:46 [Message] dave -> Main Room: yep
2008-09-25 20:54:50 [Message] dave -> Main Room: bounce 4 pts
2008-09-25 20:54:50 [Message] fib_1618 -> Main Room: just another day
2008-09-25 20:54:52 [Message] fib_1618 -> Main Room:
2008-09-25 20:54:59 [Message] fib_1618 -> Main Room: yawn
2008-09-25 20:55:07 [Message] dave -> Main Room: barney frank had gas and they sent futs up a few points
2008-09-25 20:55:15 [Message] fib_1618 -> Main Room: lol
2008-09-25 20:55:35 [Message] fib_1618 -> Main Room: he scares me...but I digress
2008-09-25 20:55:48 [Message] fib_1618 -> Main Room: the XLV breadth MCO is also at the zero line
2008-09-25 20:56:29 [Message] fib_1618 -> Main Room: and the move higher today looks more a defensive push than anything else
2008-09-25 20:57:02 [Message] fib_1618 -> Main Room: longer term, with the XLV breadth MCSUM having already been able to move above the +500 level
2008-09-25 20:57:28 [Message] fib_1618 -> Main Room: if we're able to find support in and around current MCSUM levels, this would then be another good accumulation point for this basket of stocks
2008-09-25 20:57:58 [Message] fib_1618 -> Main Room: with a two day close above 33.50 giving a pattern buy signal
2008-09-25 20:58:16 [Message] fib_1618 -> Main Room: OK...some problems here
2008-09-25 20:58:25 [Message] fib_1618 -> Main Room: looking at the XLI breadth MCO
2008-09-25 20:58:55 [Message] fib_1618 -> Main Room: lower price lows were created with yesterday's spike lower
2008-09-25 20:59:11 [Message] fib_1618 -> Main Room: the concern here though is with the ascending triple top formation on the XLI breadth MCSUM
2008-09-25 20:59:19 [Message] fib_1618 -> Main Room: which is always a dangerous pattern
2008-09-25 20:59:55 [Message] fib_1618 -> Main Room: you can see how the bulls couldn't find enough believers in pushing prices higher
2008-09-25 21:00:05 [Message] TradeMark -> Main Room: three peaks and a doomed house?
2008-09-25 21:00:06 [Message] fib_1618 -> Main Room: and this usually leads to this kind of exhaustive pattern
2008-09-25 21:00:10 [Message] fib_1618 -> Main Room: well, in a way
2008-09-25 21:00:22 [Message] fib_1618 -> Main Room: keeping it simpiler than that
2008-09-25 21:00:31 [Message] fib_1618 -> Main Room: it's like the little train that could
2008-09-25 21:00:34 [Message] fib_1618 -> Main Room: I think I can
2008-09-25 21:00:39 [Message] fib_1618 -> Main Room: I think I can
2008-09-25 21:00:44 [Message] fib_1618 -> Main Room: OH NO...I can't
2008-09-25 21:00:57 [Message] fib_1618 -> Main Room: huff and puff...and down you go
2008-09-25 21:01:06 [Message] TradeMark -> Main Room: Sounds like Chris Dodd
2008-09-25 21:01:15 [Message] fib_1618 -> Main Room: so this basket of stocks will weigh heavy over the next several weeks
2008-09-25 21:01:22 [Message] fib_1618 -> Main Room: now now...
2008-09-25 21:01:33 [Message] fib_1618 -> Main Room: these people are our elected representatives
2008-09-25 21:01:36 [Message] TradeMark -> Main Room: I'll be good, I promise
2008-09-25 21:01:40 [Message] fib_1618 -> Main Room: they are doing the best they can
2008-09-25 21:01:53 [Message] dave -> Main Room: i vote for c, none of the above
2008-09-25 21:01:56 [Message] TradeMark -> Main Room: Right...
2008-09-25 21:01:58 [Message] fib_1618 -> Main Room: just understand the breed
2008-09-25 21:02:09 [Message] fib_1618 -> Main Room: this is our problem
2008-09-25 21:02:20 [Message] fib_1618 -> Main Room: no use in rehashing it
2008-09-25 21:02:34 [Message] TradeMark -> Main Room: Not when it is this late in the chat
2008-09-25 21:02:36 [Message] fib_1618 -> Main Room: the XLB data is fully neutral right now both with the MCO and the MCSUM
2008-09-25 21:03:12 [Message] fib_1618 -> Main Room: but with the structure of the XLB breadth MCSUM
2008-09-25 21:03:30 [Message] fib_1618 -> Main Room: it's probably a better bet that we're going to find some resistance here and take a breather
2008-09-25 21:03:38 [Message] fib_1618 -> Main Room: it's been a hard uphill climb for this sector
2008-09-25 21:04:02 [Message] fib_1618 -> Main Room: the XLK data is at an important cross road
2008-09-25 21:04:15 [Message] fib_1618 -> Main Room: notice that we're starting to get some attempts by the bulls right now
2008-09-25 21:04:39 [Message] fib_1618 -> Main Room: because if we look at the XLK breadth MCSUM, we have a very important challenge coming up
2008-09-25 21:05:02 [Message] fib_1618 -> Main Room: where a break below the -750 level wouldn't be a good thing
2008-09-25 21:05:21 [Message] fib_1618 -> Main Room: and a break here...would definitely take the NDX with it
2008-09-25 21:05:39 [Message] fib_1618 -> Main Room: don't you just love indecision patterns?
2008-09-25 21:05:47 [Message] fib_1618 -> Main Room: I find them exciting
2008-09-25 21:06:06 [Message] fib_1618 -> Main Room: and the XLU data is looking much, much better now
2008-09-25 21:06:38 [Message] fib_1618 -> Main Room: with strong bull divergence in place on the XLU breadth MCO
2008-09-25 21:06:51 [Message] fib_1618 -> Main Room: and the lack of sellers as shown by the XLU breadth MCSUM
2008-09-25 21:07:01 [Message] fib_1618 -> Main Room: again...another defensive group
2008-09-25 21:07:22 [Message] fib_1618 -> Main Room: so....quite a bit confusion going on right now
2008-09-25 21:07:42 [Message] fib_1618 -> Main Room: and it's during such times in which the market can gyrate wildly because...
2008-09-25 21:07:57 [Message] fib_1618 -> Main Room: most, if not all of the price moves, are news related (by and large)
2008-09-25 21:08:12 [Message] fib_1618 -> Main Room: right now...some areas are showing a lack of sellers
2008-09-25 21:08:26 [Message] fib_1618 -> Main Room: while others still have some room "to improve"
2008-09-25 21:08:50 [Message] fib_1618 -> Main Room: so like last Thursday...the best thing for the trader of "longer than a week" is to sit on your hands with selective accumulations where noted
2008-09-25 21:09:33 [Message] fib_1618 -> Main Room: volume oscillators are pretty much neutral
2008-09-25 21:09:43 [Message] fib_1618 -> Main Room: the Dow data being absolutely flat lined
2008-09-25 21:09:54 [Message] fib_1618 -> Main Room: one things for sure...
2008-09-25 21:09:59 [Message] fib_1618 -> Main Room: once we do get clarity here, we're going to see quite a trend develop
2008-09-25 21:10:23 [Message] fib_1618 -> Main Room: but that's the same thing we've saying now for the last 3 weeks
2008-09-25 21:10:33 [Message] fib_1618 -> Main Room: then again...nothing has really changed during this time either
2008-09-25 21:10:37 [Message] fib_1618 -> Main Room: (yawn)
2008-09-25 21:10:52 [Message] fib_1618 -> Main Room: NYSE TRIN at .98
2008-09-25 21:11:00 [Message] fib_1618 -> Main Room: drum roll please
2008-09-25 21:11:13 [Message] fib_1618 -> Main Room: NYSE Open 10 at .76
2008-09-25 21:11:26 [Message] fib_1618 -> Main Room: just too "overbought" to really get anything going
2008-09-25 21:11:39 [Message] fib_1618 -> Main Room: this is why we might rally, like today, but we just can't hold it
2008-09-25 21:12:02 [Message] fib_1618 -> Main Room: NASDAQ TRIN at .48
2008-09-25 21:12:14 [Message] fib_1618 -> Main Room: Open 10 at .73
2008-09-25 21:12:20 [Message] fib_1618 -> Main Room: we need a purge
2008-09-25 21:12:25 [Message] fib_1618 -> Main Room: or we need more time
2008-09-25 21:12:31 [Message] fib_1618 -> Main Room: a purge would be exciting
2008-09-25 21:12:41 [Message] fib_1618 -> Main Room: but the passage of time would frustrate everyone
2008-09-25 21:12:44 [Message] TradeMark -> Main Room: purge more profitable too
2008-09-25 21:12:51 [Message] fib_1618 -> Main Room: it would be easier, yes
2008-09-25 21:13:02 [Message] TradeMark -> Main Room: easy is good
2008-09-25 21:13:15 [Message] fib_1618 -> Main Room: as long as you don't get too greedy...yes
2008-09-25 21:13:28 [Message] fib_1618 -> Main Room: TM TRIN at .64
2008-09-25 21:13:39 [Message] fib_1618 -> Main Room: Open 10 at .74
2008-09-25 21:13:54 [Message] fib_1618 -> Main Room: well...
2008-09-25 21:14:06 [Message] fib_1618 -> Main Room: we have a ceiling above us
2008-09-25 21:14:22 [Message] fib_1618 -> Main Room: and we don't have enough energy to drive prices lower either
2008-09-25 21:14:37 [Message] fib_1618 -> Main Room: so...how about another couple of weeks of this?
2008-09-25 21:14:46 [Message] fib_1618 -> Main Room: anything else?
2008-09-25 21:14:54 [Message] dave -> Main Room: xanax?
2008-09-25 21:15:06 [Message] lew -> Main Room: Thx, as usual!
2008-09-25 21:15:16 [Message] dave -> Main Room: thx dave, you the man
2008-09-25 21:15:43 [Message] fib_1618 -> Main Room: well..the market isn't being too transparent
2008-09-25 21:15:50 [Message] fib_1618 -> Main Room: it's all tied up in knots
2008-09-25 21:15:52 [Message] TradeMark -> Main Room: Great chat...thanks
2008-09-25 21:16:05 [Message] fib_1618 -> Main Room: I try my best...thanks
2008-09-25 21:16:17 [Message] fib_1618 -> Main Room: OK...I'm going to get out of here
2008-09-25 21:16:34 [Message] fib_1618 -> Main Room: and hopefully shake off this darn flu
2008-09-25 21:16:42 [Message] fib_1618 -> Main Room: everyone have a great weekend
2008-09-25 21:16:53 [Message] fib_1618 -> Main Room: and we'll see how things are next week
2008-09-25 21:16:55 [Message] fib_1618 -> Main Room: good night



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