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Be: V (for the “Volpinacci” strategy) was explained in a message: msg# 50384. It is still in a testing phase. Today’s pilot stocks were CELG, AMLN and BEC. They turned out to be loyal pre-index-move indicators. I will continue to post V signals, for our entertainment only. When V will be ready, I’ll give you more details. Thank you for your interest.
Yep, but we are supposed to believe it’s just a coincidence.
Gleno, I hate the congestion zone where they push it back up every day (red ellipse). But the wave people say that this is normal and ok for the “health” of the WAVE 3 initiation.
Gleno, that’s exactly what they don‘t want. I’ll give them one more chance to sell…tomorrow. Staying short.
Gleno, great calls.
Out of SDS at 59.13. Possible reentry at 58.73. For Qs I am more picky: 48.48, easy to remember. It’s the bottom of Da Magnet “cup” on 5/27 and fractal crossover the same day (on 5 min). It's also close to your target yesterday.
Wow!…Re-entered shorts for a third time, for a slightly better price. Why? Well.... a Bolshevik in the White House?! Scarrrrrry! Putin hates the idea more than anyone else. He does not want to lose his fat package of Gasprom stocks and go back to a monthly salary + soviet healthcare expenses!
Nobody loves Obama except Hillary who would love to tango with him on the same ticket….
Besides The V signal is still: keep shorts!
Be and others: Happened to me too: I left some money on the table… but you know what? - I got back in. Why not? Just careful with entry points.
Gleno: The Obama news is no news… but it comes at the right time. Now Da Boyz don’t have to lift the market. They have a good reason to let it drop!!! You target seems reasonable.
Maybe… That is why I think that the lame market of today is still important: will it stay the same in the afternoon or will it give some clear an consequential signals which will be followed? It’s boring right now but I wouldn’t go out and play. I want to see the action in the afternoon and whether the dumb money is showing some signs of life.
“Speculation, in its truest sense, calls for anticipation”: Richard D. Wyckoff, quoted By Linda Bradford-Raschke.
But the same Linda also said: “In a flat market don’t miss the opportunity to stay out. How would you make money?”
Hi Guys: So far no signals. Very foggy morning. Again, we need clarity. But even the fat lady refuses to sing. Right now, trying to stay hedged and uncommitted in either direction. However, the Qs might be forming a double top; maybe even more bearish intraday: “an inverted double roof”. This looks like an inverted church roof with a spear in the middle. Surprisingly, J. Bollinger used it quite successfully in 2002.
Hi Two: Got a “V” buy signal for SPY also at 3:34 pm, but your INDU signal was earlier. I will not congratulate you: don’t want to jinx tomorrow’s opening. This is also my post #15 - last of the day.
HI Two: In principle, I like this correlation stuff. It could be so since, and one might assume that the DOW can be easily manipulated, and also that, at close, a high DOW might fool some foreigners, and this is what Da Boyz want. But to quote Scam “does it vork?”
Hi Koog: You are right. I thought about that before. I tried so hard to adopt the American and forget the “chiefly British spelling” (see Webster’s Unabridged)… So, how about you Koog: “King’s or Trinity“?
The inflexion point of the curve (which this time is a whole zone of congestion) still projects forward a strong support, as attested by the bouncing of the index.
I take this opportunity to post a brief commentary of this chart, since Gleno asked me to do so ( this is not intended to patronize anyone, a and it is not for Blasher). If one forgets about the geeky math stuff marked on the chart, what it shows is that before that zone the curve was like cup and after it it was more like forming an inverted cup. This means that it changed “concavity”. This change, especially when it is marked by a congested delay (decision taking time) suggests that the psychology of the moment is also changing: the bullish mentality is now progressively buffered in time. Now, we can represent the rest of the ascension not as a line but as a curve (maybe a parabola). This curve dissolves itself into an asymptotic evolution. When it is clear that it will not be violated there is only one solution, also enforced by oscillators: a down arrow.
Yes Two, pigs might fly for a while now. Da Boys had an early lunch. Chart follows soon.
Blasher, that is a very nice trade. What I like about it is that it gives you more flexibility in timing it than the “unidirectional” action. It is also nice to be hedged when time decay is on your side.
Gleno: 48.45 is the low of Da Magnet (morning of 05/27) Your target right above it seems good. The only thing that could stop it is a raid by the Pirates of Bendance. Could you hedge? Congratulation for being both right and mellow on Friday.
Be, you are right. But I am trying to be methodical. Just sold SFB.RJ (Jun140 puts) to lock in $0.65 gains/put for long SFB SJ (Jul 140 puts) Blasher agrees: Patience is good.
My Strategy:
Indexes: I have reasons to think that the WAVE 3 down is here. Starting to build Calendar Put Spreads: b.Jul/ s.Jun. I buy first; then sell when in the green 25-40 c/put, to lock in profits and create a good “time“ entry, for further profits. These are both early entries, since the big time decay for Jun will not start for another week. From now on, it’s pure opportunism into OE.
Stocks: Already sold al the long BIOTEX positions (previously posted) , while the CNBC dudes were pumping them. Now ASCO is over and no miracle happened.. Therefore, short most of them except DNA, who killed IMCL. Already down: SEPR, GILD, AMLN, ALNY. CELG ready to drop NOW. Shorts are to be kept selectively for 2-4 days. If you decide to play this, read the fundamentals first
Talking about hockey and other things: When Hillary was a designated “ambassador” for women’s rights, during the Lowinsky affair, she decided to be assertive in China and asked:
“How often do Chinese women actively participate in elections?”.
And the Chinese answered:
“Evely molning, missus Crinton.”
Gleno, your 49.24 and the 49.26 on Geeky Chart are practically identical.
For SPY: V signal is also short . Next target: 138.52
Support is or was(?) Da Magnet: 233 EMA, on 5 min.= 49.64
Gleno: In essence: YES. Explanation of chart some other time. NOW: opening.
Hi Blasher. I am with you on cont. triangle. My strategy for such triangles is PATIENCE until the fat lady sings. Then, get adventurous: Marco Polo… if you can.
Here is a Geeky Intraday Chart. Opening probably around fractal pivot (obsessive WHITE Jeremiah line). Shall watch closely “V” signals.
About SPY, so far: my “V” strategy detected today 3 independent “false drops” of the index. They were all rendered inconsequential by abrupt intervention and the rise of SPY stayed intact. But more than that: the “opportunistic” bears were hurt and now they are psychologically stressed. Have fun watching the grand finale.
Previous resistance for Qs 49.75 has now become support …and it seem to hold, so far.. Valiant bulls are warmly invited to double their longs…for entertainment only. However, this is not necessarily a joke.
Now , back to bioteks. My champions of the morning are simultaneously turning down: OSIP, DNA, GILD, BIIB.
Today, many play with BIOTEX. A lot is expected from them. Good picks: OSIP (data on their drug Tarceva, presented at ASCO in Chicago), GILD (phase III news), VRTX (reconsidered as the best performer against hepatitis C), CBST (confirmation of commitment of MIT to them) and DNA & CELG (for no obvious reason). Slightly up but disappointing: AMLN (in spite of pumping by Pete Najarian).
Gleno: for once I also have the down target exactly at the same level: 49.42. I am sure we use different indicators. Thus…we must be both wrong.
I was counting on slightly higher targets: Qs = 49.75 & SPY = 140.4. But this is close enough.. The problem is that a serious drop will be prevented by Market engineers. Even with a few bucks (i.e. 30B) they know how to do it!
Dan, sorry to hear that. I wish you a quick recovery and good luck!
Gleno: I could not get access to this hub during the last 1 ½ hrs. of trading. I assume there were some technical problems. Did you have any similar experience?
Leftyg: Thank you for reminding us of Hurst’s work. I have his original book and the famous course, which I still consult often. Reading them is always a real pleasure. I would however remind to those who practice his teachings that Hurst himself suggested that one should carefully chose those indices and stocks where Hurstian cycles are obviously “applicable”. These chaps sometimes try often the impossible “at any price”, and their analysis can become a caricature, as pointed out by Scam. Moreover, since Hurst, many advances were made. In particular, mathematical “filters” are now available and IMHO, could be successfully used for the dissection of cycles. This leads sometimes to detection of cycles not subjected to a strict “synchronicity” as originally defined by Hurst. I think that this does not contradict in essence the “ nominal cyclic model” but rather deepens its understanding.
Sorry, I repeated the message by mistake.
Well…now it did.
Well…now it did.
OK…Enough. The upswing is exhausted. We can now wait for the next move
LOL…good point!
Right now the greatest challenge is to time the switch from shorts to longs. The chicks on TV would call it ”inflexion point”. It is not, it’s a bottom and I think it happened.
Gleno: signals are now very mixed. However, got a “Fuzzy Wazzy” bear alert.