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GLD DZZ closed half of DZZ at 5.23..
Cue: whose brand of hooey are we supposed to censor, and whose is OK??
King: was it P T Barnum who famously said: you never go broke underestimating the intelligence of the public. The media usually allows outrageous comments to go unchallenged, and the public "only know what I read in the newspaper". Personally, I think HD/Upp are not far from the truth; it is the truth because the public lets it occur, and so how smart are they, really? America, first as a slogan, yes. America, the brilliant, discerning, politically, economically aware?? Probably not....
Oddlot
***King***personal attacks will not be tolerated. Post your factual rebuttal, and leave the rest at home.
Those who agree with another are not "puppets". There are groups of idiots who agree and are not puppets. Two people who agree with something you disagree are rationale people until proven otherwise. Lighten up.
Oddlot
QWIK: not at home, but here is my opinion: very choppy mkt, with biases both ways. Trend using violation of 5day cycle extremes is up. Indications for 33 day and longer argue for declines, and the OBV indicators are negative. Violation of 130.85 would turn everything negative. Until then, my stance is to sell rallies, which have not happened yet. No opinion re wave 5 question.
Oddlot
SPY SSO flat. Closed SSO at 53.21 on stops.
SPY SSO flat. Closed SSO at 53.21 on stops. Now what??!!
SPY SSO flat. Closed SSO at 53.21 on stops. Now what!!!
TC: thanks for your comments on chebychev filters. You know much more than I.
Oddlot
OT 2bit: actually you did not direct the initial question to anyone. You did post it soon after mine, so it was adjacent and that was why I responded. It helps to start the post with the username to whom it is addressed. Note that the replies to you were constructed that way.
The fact that the major turndate is July 28 had escaped my attention, so thank you. However, still holding longs for the moment.
Oddlot
2bit: who are you asking?
SPY SSO re msg to which replies, the green trendline on 10min barchart was broken to the upside near the close and IMHO the mkt has turned as previously suggested. Holding long SSO, and bear positions in gold and fxe -2x etfs.
Oddlot
I entered the position with a 2-3 month outlook, but with timing based on 5-7day cycle. That cycle has deferred to the 10-11 day cycle, so if the low is not in, it should be very soon. A little while would refer to the short term cycles trough to peak, so maybe 5 days when it starts up.
IMHO yes, the bottom is in for a little while.
SPY added to longs as SPY crossed 135.13.
Oddlot
Re Gold: mark 8/10 on your calendar as being close to the major bottom. Time will tell....
Oddlot
Techcharter: add'l thought. There is a free app that uses Chebychev polys to isolate the trend. Just found it so no experience. This technique has the unique characteristic that the excursions from trend is minimized (absolute points, not squared deviations). As such, one could assume excursions against the trend but less than the prior max excursion would be a reasonable entry. Combined with your spectral forecasts, might be helpful. Current: uptrend began 2-3 days ago, and the recent pullback was within the experience (SPY, trend +/- 4Pts). Pretty wide range, but TA indications combined with the time series might work.
Good trades.
Oddlot
Techcharter: re spectral sys. Have you tested against arbitrary points in the past to see how rapidly the forecast degrades? This would indicate how often you must update the parameters.
Oddlot
Techcharter: one of my basic methods is to draw channels around centered MAs with length of the specific cycle. Assuming that most of the high freq has been eliminated, the channel should contain the high freq motion and touch +/- the boundaries at extremes. The same thought extends to CMAs with 1/4 of main wavelength. IMHO the trendline parallel to the quarterwave MA (realtime, not centered) gives an excellent signal, when violated, that the main cycle has/is turned. If one ID's the direction of the longer cycles as "trend", trading the shorter cycles within their channels, in direction of trend only, works for me. Problems occur at major tops/bottoms but such is life.
Thank you for the conversations.
Oddlot
Added to longs with SSO 54.10
SPY SSO stop on position based on SPY at 134.73
SPY SSO stop on position based on SPY at 134.73