Replies to post #53449 on ajtj99's Market Pulse

[Justa Werkenstiff]

DH: Glad you liked it. Thanks for the kind words. I could write a book on the experience. I told the kids upfront we would all make mistakes during the season...even the coaches. But part of the deal was to get over the blame game and work together towards minimizing the mistakes and to never, ever give up. The only thing I would not accept was giving up. If the other team beat us, I could live with that so long as we gave our all and had fun doing it. I told them that winning and losing was the natural outcome of doing your best but the kids had to learn that it did not turn out that way every time because there were things you could not control. You can't control the performance of the other team. You can't control the umpiring or the field conditions. Anyway, the true measure of a good team is come from behind wins. We did that quite often as the season progressed. That is when I knew we had turned into a very good team.

Back to the market and it is ugly thing for sure. It is a trendless mess and a trader's market. It seems we are lining up for a bounce here on daily charts as soon as tomorrow but it looks to be within the context of an new intermediate term downtrend. I favor chop and slop action in an attempted basing movement with small bodied moves on the daily up and down and all around .

I think the Sox has more crappage on the daily charts and would focus on that one for clues on the nasdaq for now. Sox at least needs a small body to show a reduction in the momentum of the decline. Today's stick ain't gonna do it. Other clues point to further weakness there.

We may get a larger market move up after the basing is complete. Tough call on how long the basing action will last. That is a day-by-day thing. Longer term, I think bulls will have to lick their wounds for a spell much the way bears did when the intermeidiate term trend turned up in mid-late April.

Good luck.

[Justa Werkenstiff]

DH: Glad you liked it. Thanks for the kind words. I could write a book on the experience. I told the kids upfront we would all make mistakes during the season...even the coaches. But part of the deal was to get over the blame game and work together towards minimizing the mistakes and to never, ever give up. The only thing I would not accept was giving up. If the other team beat us, I could live with that so long as we gave our all and had fun doing it. I told them that winning and losing was the natural outcome of doing your best but the kids had to learn that it did not turn out that way every time because there were things you could not control. You can't control the performance of the other team. You can't control the umpiring or the field conditions. Anyway, the true measure of a good team is come from behind wins. We did that quite often as the season progressed. That is when I knew we had turned into a very good team.

Back to the market and it is ugly thing for sure. It is a trendless mess and a trader's market. It seems we are lining up for a bounce here on daily charts as soon as tomorrow but it looks to be within the context of an new intermediate term downtrend. I favor chop and slop action in an attempted basing movement with small bodied moves on the daily up and down and all around .

I think the Sox has more crappage on the daily charts and would focus on that one for clues on the nasdaq for now. Sox at least needs a small body to show a reduction in the momentum of the decline. Today's stick ain't gonna do it. Other clues point to further weakness there.

We may get a larger market move up after the basing is complete. Tough call on how long the basing action will last. That is a day-by-day thing. Longer term, I think bulls will have to lick their wounds for a spell much the way bears did when the intermeidiate term trend turned up in mid-late April.

Good luck.