My chart forecast said buy like a lunatic below .30 and sell like a lunatic above $2.10. It worked for me.

I am a proud user of a "baloney strategy"!

:D

Or that article is hard proof that I am one self-deceptive but lucky SOB.

While the author formerly known as Prince mentions how technical and fundamental analysts can be biased and therefor make mistakes, he does not mention how writers can be biased.

"Technical analysis was developed for short-term traders." He is just not a short term trader.

He conflicts himself by saying... "There is little value in assisting investment decisions, if any, for institutional money managers." ... after saying ... "I do admit that there is useful information to be gleaned from charts such as the number of buyers and sellers or the volume of a stock. Screens of stocks that are near their 52-week lows or 52-week highs can be useful for finding stocks that are good values or overvalued. However, the Prince does not buy into technical stock trading or the day trading that many technical traders partake in."
He is just not a short term trader.

"There are many intelligent people online who prescribe to technical trading strategies... many of them may even make quite a bit of money. Yet, ultimately those that do perform well on a “risk adjusted basis” are the exception to the rule."

OK... so does it follow that those who perform well, using other than TA, are the norm? Not really. Successes and good performers are always the exception to the rule. That is why success is rewarded.

He is trying to establish credibility by trying to discredit an alternate system. I think I saw that technique used in the debates last night. But if he went around bashing the accepted methods that win institutions clients, the same methods that also only perform successfully as the exception, what kind of business would he have?

Of course, what institutional clients wouldn't want to know about the companies they are investing in? But who ever said that TA should be used singularly anyway? TA and FA should be used together. There are very many reasons to use TA as part of your trading strategy.

Don't you make more money buying when a stock is trending up?
Don't you make more money buying at the support of uptrends?
Don't you keep more profits selling at technical tops?
Don't you keep more profits selling when a stock is leaving overbought?
I know I do.

Just missed my $2.02s. Think I will stay patient for the time being and see if it comes back down - even though the markets seem to be turning back up now.



If you're not living on the edge, your taking up too much space.

Hey Capin'.

Hanging in there, lookin past my feet for the floor. Had a great time with FRE. Looking for more there. Just had a great time with a week off and looking for more there too! HaW! If I can get it...

Waiting for the market to finish going down before getting back in here at LVLT (or most anywhere else). Have a buy in @ 1.09 :) We'll see... I don't think it is done being oversold just yet.

LVLT, GM, F etc... some interesting questions that have had me thinking hard. Have a $2.02 buy waiting at F and am not sure if I should hold off and drop that or take it if it comes.

6000 on the Dow? You really think so? I think if we get 7500 that 6900 is possible, but actually 6000? I better cancel my $1.09 LVLT!

It has been trading like there is a relatively low float these past few days. Not a lot of volume but there is some momentum here. Maybe this one will actually trade fairly because the SEC is watching it so closely as a result of MNTY and JB1. Maybe with the SEC on his brother so hard, JB2 will run ICTY transparently and properly. We'll see if he removes STOP from pinksheets and if he files again 3 months from then.

The chart actually looks pretty good. RSI14 above 70, Aroon just crossed and Aroon Down just turned down while Up remains maxed at 100. SS looks good etc. I'd say the chart gives them another couple days to get some better pumps out on their new PR channel. PPS is waiting for some good volume.

Niederhoffer is familiar but the title is not. Will member mark & try to remember to let you know when I dig it up.

To comment on your earlier post: There are many chart patterns and technical indicators that are ambiguous about direction (like symmetrical triangles and pinching bollinger bands for example). But in the same vein, there are also many candle patterns (and chart patterns & tech indis) that do predict direction accurately.

I know I am preaching to the choir here, but we should never rely on just one of anything.

GLTY

aharfo - I person marked you so when I finally do remember to find that info I can let you know where and what it is.

If you are relying solely on the charts, it really depends on which patterns you are testing, and whether you make your calls as to direction or price target.

I have seen independent studies of candlestick patterns that give most patterns an accuracy just over 50%. Will have to go back and research where I saw it, over what time periods the patterns were expected produce and so on. There was a very small number of very infrequent patterns that were given much greater accuracy (like >70% as I remember)

But those are just price patterns used in predicting direction. You can increase the odds by using trends, other technical indicators and mixing charting in with fundamentals, news, sentiment and searching (waiting) for the ever-important catalyst.

If you are going for targets rather than directional trends, targets change every day imo, as the chart provides more info.

That will be tough imo. Usually, once a scammer is publicly exposed as really being a scammer (like an SEC suit filed against him) and once a company is exposed as being involved with said scammer, it really doesn't matter whether it is the exposed scammer or his brother running the show - investors and traders are done with the risk associated with the family name and the stock goes no where. Keep in mind that is my experience and that I said "Usually" and "imo".

Maybe see some movement when the pinksheets is fixed but: What will the share structure turn out to be?

echelon website says 9/20 OS = 396,927,714 and 9/20 AS = 1,001,000,000
pinksheets says 6/20 OS = 196,927,714 and 6/11 AS = 501,000,000

On top of the AS and OS doubling in 3 months, what will happen to OS when they try to roll the waning MNTY into this (or vice versa) ?

If MNTY has $200K of abandoned inventory at their Choctaw store (did they really owe that much rent that they could not sell it out or move it to another store??? and if so, what does that say about the health of the business overall), the current $120K might be more than a fair market cap for ICTY. The track record at this time is questionable at best.

EyeCity.com, Inc. Becomes Echelon Brands, Ltd.

Appoints New CEO and Announces Key Corporate Changes

Oct 15, 2008 9:47:00 AM
Copyright Business Wire 2008
Email Story Discuss on ZenoBank


View Additional Profiles
DALLAS--(BUSINESS WIRE)--

EyeCity.com, Inc. (PINK SHEETS: ICTY) re-announced today that the company recently submitted the necessary paperwork in order to change the name of the corporation. As of Tuesday, October 07, 2008, the company received the state-stamped copy of the name change. Going forward the company will now operate as Echelon Brands, Ltd.

Echelon Brands' new management believes that the change in the corporation's name will assist the company to more effectively communicate the company's new direction and overall business model to both shareholders and customers.

"Shareholders can expect to see the updated company information on the Pink Sheets website in the coming days. I believe in order for us to be successful at moving forward we need focus on our shareholders' comfort level and a great place to start is by offering any and all pertinent information to our current and prospective shareholders so that they can make their own educated decision as to whether they would like to be invested in Echelon Brands, Ltd.," stated James Brola, CEO of Echelon Brands, Ltd.

In the coming days the company will update shareholders of the company's share structure, a current balance sheet, current brands under the Echelon name and targeted retail channels.

The company's new website is located at http://www.echelonbrands.com and shareholders are requested to view this website for upcoming and pending announcements.

Safe Harbor

This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.

Source: Echelon Brands, Ltd.


----------------------------------------------
Echelon Brands
Ltd.
Dallas
James Brola
CEO
214-704-9364

Same here. Meantime though... ba ba ba bOUncE!!
!
EDIT - LOL - and immediately followed by the sudden (and requisite) 10% drop!


If you're not living on the edge, your taking up too much space.

Lowest lows in the history of LVLT just hit. The Dow has to drop below 7200 to hit its lowest low in more than 10 years.

Why would they? I would be too ashamed if I were a relative of his.

Still looking for Q1 reports, not to mention the acquisition that was happening in May, no wait, within 30-45 days of 4/29/08, no, wait, in the third quarter of 08, no, wait... uhhh... is there a doctor in the house?

Or a CEO that runs his public company as though it were a public company!

? That news is not on Yahoo, Pinksheets, Ameritrade or Alphatrade. Where did it come from? ...too bad Brola is CEO...

EDIT: Just read your next post, now see where the PR is from. Why isn't it on any of the above normal news channels?

Notice on the site that Surfer Girls is still not acquired, making it good for a pump. But JB is in very public legal trouble which will make it harder for any pump to work. Also, he did the name change quietly. I like it better when pinks do things publicly.

That is what I read when I logged in this morning. It is still there now, the very first item on the page. The PDF is dated 10/2.

Where is the more recent item stating the ban ends tomorrow at lunchtime?

There is something.
A huge load of BS.

The guy is being charged with 100 paragraphs of scam. How could there be anything?

SEC extends the emergency action regarding short sales
The SEC temporary emergency action to prohibit short selling in financial companies has been extended until October 17, 2008. Find out More

The above is from my Ameritrade account home page.
The below is from the Find Out More link

http://www.tdameritrade.com/forms/TDA8147.pdf

PDF contents below:

October 2, 2008
Overview of previous actions
On September 19, the Securities and Exchange Commission issued an emergency order temporarily banning the short selling of 799 financial stocks. The order was subsequently amended on September 21. The revised order allows each national securities exchange (e.g. NYSE, AMEX, NASDAQ) to include additional financial companies to the list of stocks affected by the ban. Company categories include banks, savings associations, broker-dealers, investment advisors, and insurance companies. For information about the specific companies that were added to the short selling ban, visit the web sites for each exchange.
When is this change effective?
Effective immediately.
Which stocks are included?
The Commission’s temporary ban on short selling will apply to the securities of those financial companies added to the list by the exchanges, as well as the 799 financial companies originally included in the ban September 19. For more information about the SEC’s amendment, go to http://www.sec.gov/news/press/2008/2008-218.htm.
What happens to my open short positions?
This order only applies to the creation of new short positions.
What happened to my open orders to sell short the affected stocks?
Open orders to sell short have been canceled and clients will not be able to enter new sell short orders at this time.
Are there any exceptions to the rule?
The SEC provided an exception to allow short sales that occur as a result of automatic exercise or assignment of an equity option held prior to effectiveness of this Order due to expiration of the option.
How do the temporary short selling rules affect options trading?
All option trades can be placed as they normally would be; however, there are changes regarding exercise and assignment. Options-approved clients will still be able to buy to open and sell to close long puts, but they will not be able to exercise puts unless they are holding the underlying stock. Also, clients assigned on an uncovered short call may not be able to hold the resulting short equity position and we may be required to buy to cover without notification.*
*Shares must be available for loan either through an internal inventory or through agreements that are in place with external brokerage firms. The risk of loss with short positions is potentially unlimited and you may be required to cover your short position at an unfavorable price. There is no guarantee that TD AMERITRADE can continue a short position for an unlimited time.
How long will this be in effect?
The SEC’s temporary emergency order has been extended until 11:59pm ET on October 17, 2008.
For more information about the SEC’s original temporary emergency order, go to www.sec.gov.
Options involve risk and are not suitable for everyone as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses. Prior to engaging in trades involving options, you should carefully read Characteristics and Risks of Standardized Options.
TD AMERITRADE, Inc. member FINRA/SIPC. TD AMERITRADE is a trademark jointly owned by TD AMERITRADE IP Company, Inc. and The Toronto-Dominion Bank. © 2008 TD AMERITRADE IP Company, Inc. All rights reserved. Used with permission.

I hope the low growth quarters do not begin with Q3!
$2.22 low today. Wow. Chart is not bottomed yet, neither is the rest of the market. $1.75 up next? A nice place to run up from . We've still got 3 weeks til the earnings call. GLTY

WTG! You can't do any better than buying the low of the day. Now set your order to sell at the high and come back tomorrow to a pile of money.

$2.30's = Getting interesting. The $2.36 low closed the gap from 4/22 - 4/23 when it closed at $2.37 then opened at $2.79.

There is good support around $2.37. Support below there is at around $2 and $1.70. Maybe $1.50?

Earnings on 10/23. Do you really think that "Growth of broadband traffic, especially video content... " has slowed enough to hurt them? I find that a little hard to believe.

Agreed. Intraday looking strong but like a bit of a pullback could happen before breaking the 1.90 - 2.00 resistance area.

Daily chart looking good but a little precarious esp when you compare SS and MACD with end of July.

News would be the catalyst to kick start a run in either direction.

Good to see Chuck and Arnold working together!

Nice! Was that an email from Jason?

What scares me is that if the SEC disallows him from running these companies, he may not be bale to do any of those things.

The other question is: What kind of dilution might we be looking at with the MNTY/ICTY thing?

I hope he gets to pinksheets quickly!

Outside of the last few paras, the entire letter is extremely unprofessional. I might even venture to call a bs sob story.

"Going forward, I have located and secured an additional Pink Sheet Symbol. I have made arrangements to utilize this additional pink-sheet entity as a holding company. I am exploring the possibility of having this holding company buy-out the assets and liabilities of MNTY so the shareholders of MNTY do not lose all they’ve invested BUT please understand this is not a promise for ANY buy-out, yet it is a potential backup plan, in the event FINRA or NASDAQ does not allow us to correct everything.

The holding company will most likely acquire the InVogue Accessories brand as well as other retail clothing boutiques and a new clothing label, of which I have already made initial agreements with, to be acquired."

60 mins chart 50 SMA at 1.8167 ...
15 mins chart 200 SMA at 1.77 ...

Both MAs moving up from below PPS.

Support from MAs, bounce off em or ignore them completely?

Ford Reports September Sales

- Ford readies for launch of all-new F-150.

Oct 1, 2008 12:00:00 PM
Email Story Discuss on ZenoBank


View Additional Profiles
DEARBORN, Mich., Oct. 1 /PRNewswire-FirstCall/ -- Ford, Lincoln and Mercury dealers reported total sales of 116,734 in September, down 34 percent versus a year ago.

September was the lowest sales month for Ford and the industry this year.

"Consumers and businesses are in a very fragile place," said Jim Farley, Ford group vice president, Marketing and Communications. "An already weak economy compounded by very tight credit conditions has created an atmosphere of caution."

The national marketing launch for the Ford Flex crossover and Lincoln MKS sedan began in September. Both new products have steadily increased their share of segment. The Ford Flex has the highest conquest rate of any Ford product (except for Escape Hybrid), and also is attracting the highest rate of premium and import buyers. The Lincoln MKS ranks third in the mid-size luxury car segment behind only the BMW 5-Series and the Mercedes Benz E-Class.

The 2009 model Ford F-150 has class leading capability (11,300 pounds towing and 3,030 pounds payload) and unsurpassed fuel economy of 21 mpg highway with the SFE package.

"The sell down of the current model F-150 is ahead of schedule, and the first shipments of the new F-150 will arrive soon at Ford dealers," said Farley.

Ford's F-Series is America's No. 1 selling truck for 31 years in a row and the new F-150 is designed and engineered to raise the bar in the light-duty pickup market.

Note: The sales data included in this release and the accompanying tables are based largely on data reported by dealers representing their sales to retail and fleet customers.

About Ford Motor Company

Ford Motor Company (NYSE: F), a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles across six continents. With about 229,000 employees and about 90 plants worldwide, the company's core and affiliated automotive brands include Ford, Lincoln, Mercury, Volvo and Mazda. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford's products, please visit our website at www.ford.com.


FORD MOTOR COMPANY SEPTEMBER 2008 U.S. SALES
--------------------------------------------
September % Year-To-Date %
--------- ------------
2008 2007 Change 2008 2007 Change
---- ---- ------ ---- ---- ------
Sales By Brand
Ford 102,685 155,037 -33.8 1,353,519 1,620,925 -16.5
Lincoln 7,571 9,764 -22.5 82,824 102,449 -19.2
Mercury 6,478 11,403 -43.2 96,878 129,743 -25.3
----- ------ ------ -------
Total Ford,
Lincoln and
Mercury 116,734 176,204 -33.8 1,533,221 1,853,117 -17.3
Volvo 4,054 8,408 -51.8 60,028 80,884 -25.8
----- ----- ------ ------
Total Ford
Motor Company 120,788 184,612 -34.6 1,593,249 1,934,001 -17.6

Ford, Lincoln and
Mercury Sales By
Type
Cars 40,453 50,212 -19.4 550,752 588,001 -6.3
Crossover Utility
Vehicles 22,583 32,333 -30.2 295,903 302,624 -2.2
Sport Utility
Vehicles 8,623 20,040 -57.0 128,396 216,084 -40.6
Trucks and Vans 45,075 73,619 -38.8 558,170 746,408 -25.2
------ ------ ------- -------
Total Trucks 76,281 125,992 -39.5 982,469 1,265,116 -22.3
------ ------- ------- ---------
Total Vehicles 116,734 176,204 -33.8 1,533,221 1,853,117 -17.3



FORD BRAND SEPTEMBER 2008 U.S. SALES
------------------------------------

September % Year-To-Date %
--------- ------------
2008 2007 Change 2008 2007 Change
---- ---- ------ ---- ---- ------

Crown Victoria 3,622 3,520 2.9 39,317 46,188 -14.9
Taurus 3,172 4,230 -25.0 43,650 52,514 -16.9
Fusion 9,942 11,966 -16.9 117,545 112,519 4.5
Focus 10,346 9,885 4.7 165,382 133,043 24.3
Mustang 4,910 10,266 -52.2 78,871 109,803 -28.2
GT 0 0 NA 0 231 -100.0
- - - ---
Ford Cars 31,992 39,867 -19.8 444,765 454,298 -2.1

Flex 1,959 0 NA 7,552 0 NA
Edge 6,633 11,632 -43.0 93,830 89,676 4.6
Escape 9,161 11,132 -17.7 125,672 127,737 -1.6
Taurus X 1,105 3,065 -63.9 19,578 30,411 -35.6
----- ----- ------ ------
Ford Crossover
Utility Vehicles 18,858 25,829 -27.0 246,632 247,824 -0.5

Expedition 3,645 5,827 -37.4 43,272 71,213 -39.2
Explorer 3,498 10,690 -67.3 64,339 108,535 -40.7
----- ------ ------ -------
Ford Sport
Utility Vehicles 7,143 16,517 -56.8 107,611 179,748 -40.1

F-Series 32,727 56,065 -41.6 392,698 537,211 -26.9
Ranger 3,915 4,019 -2.6 54,815 57,434 -4.6
Econoline/Club Wagon 7,617 11,897 -36.0 101,419 130,763 -22.4
Freestar 0 0 NA 0 2,390 -100.0
Low Cab Forward 55 143 -61.5 745 2,257 -67.0
Heavy Trucks 378 700 -46.0 4,834 9,000 -46.3
--- --- ----- -----
Ford Trucks and Vans 44,692 72,824 -38.6 554,511 739,055 -25.0
------ ------ ------- -------
Ford Brand 102,685 155,037 -33.8 1,353,519 1,620,925 -16.5



LINCOLN BRAND SEPTEMBER 2008 U.S. SALES
---------------------------------------

September % Year-To-Date %
--------- ------------
2008 2007 Change 2008 2007 Change
---- ---- ------ ---- ---- ------
MKS 1,814 0 NA 6,852 0 NA
MKZ 1,578 2,589 -39.0 24,914 25,537 -2.4
Town Car 1,031 611 68.7 11,685 25,580 -54.3
MKX 1,753 3,805 -53.9 23,977 26,950 -11.0
Navigator 1,012 1,964 -48.5 11,737 17,729 -33.8
Mark LT 383 795 -51.8 3,659 6,653 -45.0
--- --- ----- -----
Lincoln Brand 7,571 9,764 -22.5 82,824 102,449 -19.2



MERCURY BRAND SEPTEMBER 2008 U.S. SALES
---------------------------------------

September % Year-To-Date %
--------- ------------
2008 2007 Change 2008 2007 Change
---- ---- ------ ---- ---- ------
Grand Marquis 1,599 2,737 -41.6 23,091 38,280 -39.7
Sable 783 1,851 -57.7 13,711 16,665 -17.7
Milan 1,656 2,557 -35.2 25,734 27,641 -6.9
Mariner 1,972 2,699 -26.9 25,294 27,850 -9.2
Mountaineer 468 1,559 -70.0 9,048 18,607 -51.4
Monterey 0 0 NA 0 700 -100.0
- - - ---
Mercury Brand 6,478 11,403 -43.2 96,878 129,743 -25.3



VOLVO BRAND SEPTEMBER 2008 U.S. SALES
-------------------------------------

September % Year-To-Date %
--------- ------------
2008 2007 Change 2008 2007 Change
---- ---- ------ ---- ---- ------
S40 422 1,132 -62.7 8,137 14,645 -44.4
V50 119 224 -46.9 1,370 2,185 -37.3
S60 470 826 -43.1 7,657 14,355 -46.7
S80 578 1,308 -55.8 8,811 9,958 -11.5
V70 141 372 -62.1 2,672 2,884 -7.4
XC70 661 954 -30.7 7,735 8,990 -14.0
XC90 1,106 2,460 -55.0 15,292 23,471 -34.8
C70 292 321 -9.0 4,898 3,534 38.6
C30 265 811 -67.3 3,456 862 300.9
--- --- ----- ---
Volvo Brand 4,054 8,408 -51.8 60,028 80,884 -25.8

SOURCE Ford Motor Company


----------------------------------------------
George Pipas of Ford Motor Company
+1-313-323-9216
gpipas@ford.com

"...down 5.5%, compared to a 7.7% average decline..." = no effect.

That's funny.

Short positions should be reported daily.

Not a lot to be sure, but I found the $2.80 price interesting and the fact that a high level guy like Patel was in on it.

Still waiting for a bottom to get in at... have seen little to indicate this is the bottom. $2.44 has been holding up nicely since July but unless prices become super bargain basement, I am buying nothing today except lunch.

I wish they would report short positions daily instead of every 2 weeks.

Form 4s for: Patel = 1539 shares, Hobbs = 926 and Stortz = 1750

All bought on 9/26 for $2.80

Democrats would not pass it without 100 Republican votes, which they have not gotten.

Hi Snappo - My thinking is that you are right, the bailout really has nothing to do with FRE. That is why I think it will drop after it hits. When everyone sighs and takes a breather and takes profits from the stocks they are up in, which should be mostly the stocks they played up into this event, like FRE. The old run it up and sell into news routine.

I am playing based on the bailout agreement being made no sooner than next week. I figured on a run up into the agreement and either a big pop and quicker decline or an immediate and rapid decline. Then some sideways or sideways and down time before it decides what to do next. This is now entering the gray area between big boards and pinks for me. An area I may not understand so well.

I did not expect to have it ready for the president's approval so soon. That surprised me a bit and FRE's reaction to it was less than stellar. It is rare to see the volatility we saw today. with a chart like this, that should mean a big fast move in one direction or another. After hours is looking up for the moment but PPS is still a far cry from where it was when the news hit.

$1.98 close on 334M Volume. Amazing day here!

If it didn't drop to $1.30 in a matter of minutes this afternoon I would have stayed all-in, but sold some when it came back above $2 to get my capital out (after the sooner-than-I-expected bailout agreement was reached). Still some time before it is official but cheese, I hadda do something. Looks like the rest is a free ride.

The chart could go much higher... or much lower. Ordinarily I'd give it a couple days to wind down from the maxed out RSI2 before starting back up again, but with the bailout plan being the catalyst here, the ride just got a lot more risky imo.

Here's to higher highs...

GLTA

4M shares/minute at the height of the drop. Now down to under 1M/minute

!? went out for 15 mins and came back to a 50% haircut!!!

Nearly $2,000 just traded through. That's big news. That's what always happens when such huge dollars come here.

1,522,932 shares traded at or above $2.30 this morning.

Almost 500,000 of those traded at or above $2.39.

Thanks glassy. I think I have simplegreen marked from some previous good calls, will run it by either on of them if I run into them again.

I have no MBA either, got an MFA though, but the studio is long gone. All that steel was getting too heavy to lug around and the sculptures too big to put anywhere. But when FRE buys me a big plot of land, maybe I will start up again :)

GLTU