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This would be a text book turn...I am ready for any weakness in that area...have a good weekend You..
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Anybody expecting a H&S turn here....OEX 512.5 then down...Monday
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Yes, I say, closed my puts but like Arnold said..I will be back..
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Down cycle target 490..1050
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Wing, R3 is just an imaginary thing, Nov6 did not work because it was on an uptrend.. now any R3 will work for it is a down cycle ...
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RR, ur dollar chart is right on target
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Not with Dell disappoints...
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Foot,
Your President just turned from being Muslim to Communist...He is now called OBAMAO in China...LOL
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no...I am way right...
I meant Evil not Prechter...
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ya, he has been shorting the market since Mar lows and now he is saying market going higher....will use him as a contrarian...LOL
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Fox,
Just as I was replying to your charts earlier I didnt know that in Carl Futia blog there was talk about the same thing..for your reference the two concepts for trading as follows:
Concept #1: Quote: "I had seen clearly that if I relied on oscillators and trend-following techniques, I was always getting into the trend too late. It struck me that I should try to "Anticipate" the beginning of trends rather than waiting to enter in the middle after they had started".
Concept #2: This concept was the idea of "Free Exposure" which Mr. Futia was taught from a seminar by the legendary trader Peter J. Steidlmayer. In essence Free Exposure meant; To enter the market where the risk is the least and the reward is the greatest, one must find, and be able to read where "Value" lies in the market. All entries made at "Value" are essentially tantamount to a "Free" ride in the market, with very little risk "Exposure".
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Interesting reads..
Evil is using error waves to project higher market..
http://evilspeculator.com/
and
Cobra is using conventional wisdom to project lower market..
http://cobrasmarketview.blogspot.com/
all I know is there was a turtlesoupsell signal 2 days ago and it seldom fails
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RR,
Thank you for explaining..now we are in sync..my own studies tell me that within 1-3 days the market will go down...
have yourself a wonderful weekend too..I will have chicken this weekend may be next weekend I can afford steak...
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RR,
so what are you saying...cci about to cross to the upside?
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Rab & You,
Dont give up...indications are there will be big down days next week and could be as early as Monday if the retail sales no is bad....
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May be next weekend...better still be a vegetarian..LOL
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Fox,
Nice chart, but you still need MAs to guide and imagine if you do not have MAs, it will be very difficult to make a trade. Besides, Renko is a slow process that perhaps why a min reversal is needed. But then this is still lagging because you need the price action to activate it. May be good for trading futures but not really for options especially swing trading options. At certain point, there may not be any bid at all. Option trading is most profitable when you do the probability analysis and pin-point the turning points and be contrarian. This means you need to have a position before everybody else. When the market becomes OB or OS the option pit will be frenzy and people will pay any price to get your position and that is when you hand it to them. But again, I enjoy your charts.
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Hey, FOX,
I am now using the 120 min charts now...I need to step back to go for the home run...30 min is still too fast for me....I dont khow how guys can use the 1 min charts...it is the quickest way to bankruptcy in my humble opinion...
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The Prez will be pressured by the Chinese to pump the dollar...and you know what will happen...todays dollar drop is due to the big deficit....and he hopes to correct that too in the China talks...
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Dollar...
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Now, now...
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Finance is not joining this rally...
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ya, it is all about the dollar...
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You, agreed, I cant believe market will rally on two declining months of Mich sentiment....
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Fox, my conviction is it will go down to OEX 495 in a week, it may screw around this 507 area a bit before it carves...error waves are too hard for me...lol
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Sorry Rab, couldnt even find time to post let alone any club activities....
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But where are the MPs...
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Two,
You got it...who said making a buck is easy...and millions are out of work too...
good luck
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Ha, You Rab Dan,
At least someone is paying attention...ya I mean 507...eod stress...and yes I shorted and closed and will short again tomorrow..the sell signal is out....very tentative target...409 .....no just kidding 490.....Ttheory might be right Nov9-12 is a high and low will be end of Nov then the Xmas rally.....
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It looks like there will be a bounce to 570 area and another good entry to short tomorrow...goog luck all
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Error waves expert Robert Prechter predicts big USD rally and the fall of the market and commodities....believe it or not....
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Ok time to take profits...no daily sell signals yet...but todays price action is not encouraging for the bulls...being gap higher and might close lower....
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Rab, I am here, just enjoying the ride. OEX 520 it is....
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R3 validation..
It will be very interesting to see if this R3 as reported will work or not...for it is in an up cycle....the last R3 worked because basically it was in a down cycle...
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Italian Clock
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http://www.mediafire.com/file/vzt0wwoe2mj/Italian_CLOCK.wmv
There is no major economic news until next Thursday and the trend is up....good luck
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bad consumer credit no. -14.8B vs -10B
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Another shooting in Orlando Florida, office revenge, 2 dead 6 wounded, killer on the loose,with 10% unemployment...there is social unrest and meanwhile the market plows higher....
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Ha, everyone is trying to dip buy...if it breaks out of 496 the bears will not only be castrated but dead...
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Yup, as long as it does not close below 492 today..
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