Sunday, December 6, 2009

Choppy patterns....

These past few months have kinda been like the PBR(professional bull riding), it is live on espn last night and again tonight if you like bull riding by the way...thats why I'm late posting..sorry, LOL!   Gotta give it to the cowboys they take a beating to make little $ in my opinion.   The way we have just bounced up and down and formed a rectangular pattern of support  leaves me to only conclude 2 scenerios, we are still in an extended 4th wave inside of wave A or B of wave b, or we are topping in the B wave scenerio, and could be in a 4th wave there, or have made our new high and just still bobbing around... Thats my opinion, others may not agree with me, but that is mainly why I have not  gotten back out of my QID shares, because this pattern usually ends suddenly, and forces with in make for nice fast drops , and as fast as we have gone up I think we will drop even faster....Now where are we going to drop to...S/P has several major supports...1085-90 area if we break that 1020-30 is next big support there.  So that is on a short time span if we begin a correction....if we are in a topping pattern we probably go back to 1090 area, then back up again..it will almost form a nice head and shoulder top...and that would bring us to A's time area...24th dec,. I think is what he has...Now if we do not form the H/S pattern, we could again be in a acending wedge pattern...and we will go back up to hit the 1120-40 area,, this has been  the most called area by most chartists.  Well the ones I follow most of the time anyway. its also around the 50% retrace level on Fib terms. and we all knew this already anyway. Its the sell signals that are giving me trouble..but if we didn't have to work all day  I think we really would have capitalized on alot of these day traders dreams...these have had to be very profitable times for most of the good e-mini traders...Hot Option Babe and her follower's had a great Friday from reading their comments from Fridays trading...so if your looking at options or already trade them, this site is fun to follow they really do a great job in sharing and answering questions even if your a beginner.... Hey hope all of you enjoyed the kitty tube..it was just cute...OK, have some more homework to do and hope to post again today...have a good Sun. Morn.  >L

4 comments:

  1. http://www.youtube.com/watch?v=AIBodH7s6Cs&feature=player_embedded#

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  2. http://www.distressedvolatility.com/2009/04/jim-cramer-betting-market-pbs-frontline.html

    ReplyDelete
  3. http://www.pbs.org/wgbh/nova/stockmarket/formula.html

    ReplyDelete
  4. http://video.pbs.org/video/1314336960

    ReplyDelete