Thursday, February 25, 2010

OK what happened?

Ok, the odds are a little bit down as of the close today, but there is still 70% short out there.  I could say that we are in a topping process.. and we could be... so lets say we did a 1 down, an A, finished B today and going up into a C, then we finish C in the morning... and then we fall...again..... the Bullish side to this move is that we landed and held 1086, 38% on fib... I think Pugg has that call on one of his charts from Yesterday. and that is a great call, and he has been calling it good here... so if we go bullish the count would have been A, B, C, and D, and today was an E wave... that could pull us out of a possible triangle?  that would mean we have wave 5 to go up... this scenerio's odds are 30%...  so, with the really good news we have been getting...I just have to say its Ben and Co. but you know a birdie called me, the big boys where not happy today, and they want a chance to play too..so, manipulation to set the price is always a stones throw away...Ahhh I wish I could just stay in my Den and sleep, but our work is never done...so, up in the morning to finish C is my call, then down we go to finish the day, most traders will be trading from Home...or they spent the night in downtown Hotels...LOL! was today just a Snowie turn day...who knows....C, got April 7th or around there as a low...Thanks for the comments lately RK,C, I think R must be on vacation...LOL!  Everyone is busy these days...and thanks to the new person, who commented too, we welcome all. OK have a great Dream and sleep well>L

Buried Treasure~~~~Dive! Dive!

You know its been awhile since I felt really lucky. You know that gutt feeling that you get when everyone is talking in a really Bullish tone. No offense to you RK, its sorta like going on vacation to Fla. and the weather sucks...LOL!  I guess that is really how it has been for Floridians lately and the same for the Bears...so I got home just in time to see Rick Santelli, going off on our Goverment, controlling wall street Bears...as he basically said whats good for the goose just has to be whats good for the gander...Right?  Well, the news is just getting Buried if you ask me, they are only releasing what they want people to hear. Hot Air...anyone?
So, the UPTick rule will be coming back soon, they claim it will not happen for sev. months..sure Wally.. wheres the Beaver?  Yep thats how it feels to me...you just never knew what the Beaver was up too...Just like our Congress/Senate and President.  The FDIC is bankrupt, and this is a News flash to be very concerned about!!!!  Take as much $$$ as you can afford to bury in your back yard and get it out of the banking systems. Closeing time is not a good time to get $$, this is important. There are not very many banks that Prechter has listed that you can trust right now...140 banks closed up shop in 2009.  Enough said...
Our Buried Treasure has finally been found I hope...futures are down in right now looks like a 3rd wave..and this means we fall for several days,  I got lucky and got back into TZA yesterday...just my gut feeling...so this is hopefully the start of what we have been waiting for...down big at the open...OK everyn=one...lets keep our thoughts not to ourselves...we need some guidance from everyone...OK > Happy trading>L

Wednesday, February 24, 2010

RK update

I hope that all of you enjoyed the material that I found this morning...it was interesting to read what the big big boys in the pits pay alot for. We tiny tikes still get most of that stuff for free on the web...of course we have to dig a little harder...but I am not into commodities that strongly.

RK... I have had a few days now to go over the Investools site, and it is very nice... since you trade ETF's they have an entire section on that,  Let me give you a complete overview of just the basic catagories on the page:  Home page:   market forecast, calendars , futures and FX, strategy searches, think or swim chat , options strategies, they offer live trade commentary, market headlines, and investools news,
Education Page:
They have online courses...I am sure some of it is free..but the good stuff is pay only by what I see..but they give alot for free..  They also offer Basic options , advanced technical analysis, advanced options, forex, futures, and long term investing...these all seem to be courses or overviews of how to get started...they even offer virtual coaches..if your into that stuff.
The best part is the paperMoney Tutorial...very interesting..so that you can practice before you use real $$..

If you have any children in the ages of 10 or above I think this would be very educational for everyone..they can learn the basic's here very easily...(the ex-school teacher in me comes out).  I really like this for the pre-teens on up..
Next:
Investor Toolbox Page:
This offers your portfolio page... Graphs... Industry groups, news, strategies, long term investing, futures & Fx.
Community Page well its pretty much what it is, it is group rooms, question and answers..

This will really with my time schedule would take years to get to know because you really could be inside this site for hours at a time..and that is good, because I have belonged to sites that give you nothing compared to this one.  It is really very user friendly, educational on many subjects, options, futures, and long term invest. and retirement site is incredible. One thing I find great...is an odds calculator!  I luv that.. never hurts to know your odds, wether your trading GE or playing Black Jack...  I hope this helps in some way. I really like this and if you do not have a brokerage account yet TDAmeritrade is the new owner of Investools, and everthing is linked to them but you do not have to use them.  Ok, hope this helps a little. Oh and you get live stream prophet charts... OK, later>L

Enjoy this, it was a rare find!

http://www.scribd.com/doc/27275305/gartman-letter                                                                   

Tuesday, February 23, 2010

I feel like Dancing!

I came home today to find honesty still in the Market!  I luv"d the reports this morning, but it just did not drop like I think it should have...the game is on....RK, are you trading futures?  let me know...I have other things to send to you if you are?  Everyone, I do apologize for my lack of enthusiasm with this market lately, it has just been lousy timing for me at work to get bumped off my job and take this later run, it is winter, and its been a very exhausting one with one winter storm after another, and again tonight I am heading into another one....YIPPY!.... My goal is to retire and live on the perfect Island  that has great weather everyday...Oh and "R", I really do not want to know how Sunny south Ca. is right now...I am still jealous, but to tell you all the truth...  I want to live near Libby Montana...not too close but somewhere out there, Libby was the asbestos capital of the world, and still needs serious clean-up. It is so Beautiful out there, the hiking is to die for if any of you do that In our spare time... what is that?  OK back to the markets...

Now, RK, brought up one of my favorite chartists in his commentary today..and where is everyone else out there?  C, R, A, should I put a P by that Hee Hee...did you all desert me!  I wouldn't do that, I bull shit alot but I find good things out in cyber world.Heck you'd all miss my bullshitting anyway.

Go check out Pugg, Now he has alot of my thoughts on charts...and tonight he is at his best, he has already updated...and so we still could be in that larger 4th wave, and futures are showing a positive opening for the morning already..but we did break 1098...and that was a heavy resistance line this morning...I was happy to see that when I got up...I have to borrow his chart: above  I hope he does not mind...anywho.. check out his MacD.  Now I use a 3yr, daily chart alot and my chart is almost as perfect as his...the resistance is on...its breaking the support line that I have drawn on my charts that is holding this baby up if you already have it drawn it would be from the bottom of Sept 3 09 touching again at Nov 2 09  drawn all the way thru your chart and wallla... todays support at 1090ish area... isn't that cool... I love support and resistance!  Ask your wives Bra's work the same way!  did ya laugh..LOL~!  Ok, get your minds focused again...Now on a 120dy chart we broke the 200dy mv ave. and that was  a negative resistance anyway, if you see it held the market top as of now yesterday 2/22  and that was important now 50day comes into play  sitting stil on 120 dy chart its at 1084  we need that one broke... if you know what I mean...guys and gals I gotta run...enjoy Pugg's update If you are a member of Stockcharts.com  they had a great video this morning on their update, a birdy sent it to me... Prechter has his new Theorist out...very intersting...  again EWT has said we topped...Oh, I did manage a great trade today "R", got in TZA at $9.10  and got out at $9.42...it was a nice move short sweet...I am looking for a small correction in the morning..to get back in again...  timing is everything these days... Survival of the trendlines...later all>L

Monday, February 22, 2010

Lets do the Limbo...cha cha cha...

Boring Monday's are not good, and the Limbo is usually a fun game to play, "can you say how Low can you go"?  LOL!  we just stayed ave, as I thought would happen, This week has alot of "NEWs" in its calandar of events, and I was just waiting to see if this market was going Higher....and it should by what I see...we could be in a 4th wave of this move up right now...so that leaves a 5th wave up to come..lets say  1120-1130 area...but there are problems with this scenerio....well, lets just say I feel queeezy in my gut... and when I feel like that I want to run for cover.  Ben spoke today or maybe it tomorrow..I loose track of these things...but anywho, there is just a bunch of data coming our way, that will just make this market go sideways if you ask me...so that leads us to look at next week...up up and away, to the 78% retrace...or a posible H&S pattern...at 1119 tp back in Nov. and the top of a previous 4th wave. Now, the odds are really against that type of scenerio...so we go to #2  and some are calling an ending diagonal, or even a diamond  either way, we have a gap at 1115 that could be filled and then we go down, but only in my opinion to the 980 area...to 1000... and that would or could finish a larger degree 4th .   I guess what I am really saying is Calls picked up some volume today, thats neither good or bad, its just alot of stocks made new highs and they seem to have some push behind them...and that is really bullish.  check out GE it looks really good and could go to the 19-20 dollar area.  So, I look at stocks that people hold long term, Ge, UPS, PFE, they look bullish right now.. but that could be only for  a week or two...because at the same time I have most of them over bought...but thats the kicker see, when that happens 9 times out of 10  we just go flat then the signals turn to buy, and we go higher, and volume spikes big time...so just be careful right now...I am looking for volititily to really pick up the next few days...have a good night >L  

Sunday, February 21, 2010

CURRENT MARKETS

Ahhhhhhh, there is just nothing like Ben and Goldy locks to make your Fri. at  Wall street. As, suspected I figure they side stepped in , and Ben certainly gave his all, now he's going to start taxing us as I figured, so it won't hurt the banks to share a we bit of our $ now will it. Ahhhh, so whats next, Washington does not want to continue the Bush tax cuts either, and Mc Hugh made a few comments on that in his wkend update...funny but somehow I think we already knew that didn't we.  The Olympics are great this year, I have enjoyed every minute that I have been able to watch. Thats mostly why I have not updated, but then there hasn't really been much to chat about has there?  The market is just not doing much. Jobs where as expected, when the real trend is down! its down and I really do not see the job market popping till spring and some tax returns get people buying again.  The spring stimulus plan...don't ya love it..Some Things seem to be done on purpose don't they...?????

OK, everyone, I think all of you are just as excited about the past week as I have been. or notttttt...lets just say, the big boys are calling we topped, I do not want to get in their way. My indicators are showing a possible yes to that, but we could go up further and that would be great, because I do not like the way we ended on Friday. We are playing limbo and I figure we will remain in this position till March...R's original call was the one....at least from what I can see in my counts and my indicators. Just remember one thing, we where in a 3rd wave the other day, and we still could be in it... the bulls are not going to walk away and just surrender...especially when there is $$ to be made from the Ups and downs that have us all shook up, because Psychologically this would stir the Bears up even more, and some will freak out, and of course more bulls will jump back in and empty their pockets, just in time for the bull/bears like Benny and Goldy, to pull the rug right out from under them..... so, there is really no update...I really feel more like Tiger Woods, I am sorry...  really?  I luv speeches from the heart....not from a piece of paper that ends up in the trash. Woods will survive because most people really do not care. He is famous and now will be more famous amongst those who wish they where him... to each his own.. He is a good golfer, that is all he is to me, otherwise I think he is a child in a grown man's body and reminds me of Michael Jackson.  Have a good Monday>L

Wednesday, February 17, 2010

Is this just the end of wave A of C?

The question that I have been pondering is if this is just Wave A of wave C?  Glenn Neely sends out charts still to my e-mail, even though I have not been a paying customer for a # of years, so I still get have to open them don't I?  LOL!  Hey how many times in life do you get fun stuff for free?  Ok, his chart goes like this:   Move down to March of O9, then we go back up to around 61.8% correction then down to around 800 then back up to 1000 area then down to 875 then we go into a new Bull market...now we all know that these moves will take years...and if you do not know Glenn was the first to call (that I know of Dow 10,000 and also Dow 20,000) Prechter was somewhere in that time span, but Neely is the Triangle man from Hell if you ask me, No offense guys but you almost have to be a rocket scientist to follow his methods...he is a mad scientist of equations and triangle theory. Fine for those who live in that world, I need simplicity, Trend lines, simple EWT, and Fibonacci is about all I can handle in my world. But his book can sometimes be facinating if you have the time to read it.  So, anyway. I just wanted to share some of Glenn's thoughts of present. 
EWT, has updated..  here we go,
2nd wave rally is fast maturing, "NO SHIT" Sherlock,  now when it completes we should have some strong selling pressure...LOL!  I could figure that out..LOL!
Total volume down...(i do not think he has looked at Ge lately)...We are in a smaller degree 4th wave...yep...with final push to come...OK......One good thing coming out of this report he is calling the next move down a MINOR 3...remember that...he is also still aiming for the same #'s I gave yesterday...so I am still happy about that...at least I have something right lately...well maybe...
OK, he is showing a chart of the Great Credit Spread, now this is interesting...I will research that...weird chart never scene that before.  but Prechters call on the Dollare has been right on..(I am still in the dollar)  I did not give that one up...and we are close to starting 3 up...
So, we are close...the dollar is a great signal to what could happen tomorrow...is this the weather channel?  LOL!  really, we could be close...but don't get too excited.. Goldman and Benny boy could surprise us all...

Now, back to my thought on the title of tonights update...this could be just wave A up and if you just draw out Neely's chart in your head or on paper it would actually take on that charting form...then fall to grace...think out loud, and let me know your thoughts....C, nice to have you back, missed your comments, Where is A, we need his inputs...I gotta go...have a great night, and RK, I have not forgotten you, I am just screwed on time right now...but heres a link for you to go check out..guy does bar counting and some gann mixed in...very interesting stuff, just got this the other day...you tell me what you think..OK...>Lhttp://www.whattolearn.com/

Tuesday, February 16, 2010

The Devil; got me!

Uggg, I got killed today, and so did the rest of us Bears...At least when I posted I had given this scenerio, and I am sad to say, I had to bail this morning, suffering my first major loss in several years. Don't worry I had a nice counter trade, but JRCC could not make up for the damage I caused myself on this round. I am reconfiguring my odds and count and at this point and time we either just finished minuette wave 1 or minor wave 1 down, of wave 3  and we are in minuette/minor 2 going down, either way we broke some seriour support the rest of the day down, and I am glad that I took my beating early this morning in trading instead of this afternoon.  I have often said that when all the Bears think they know everything Goldman Sac's comes knocking on our Den door...but my loss is my fault and I am sorry if any of you took one beside me. The weather has taken a toll on my blogging these past few weeks. I am looking for  two scenerios to occurr right now:

1)  My favorite scenerio is that we are just in a 2nd wave correction and could start a major 3rd wave up really at any time, but I have Thurs afternoon as a start time right now...we continue up for a total of 5 days...ends Thurs.

2) Pugg, ugg he has been right so many times lately,  and I saw the possibility of a  4th wave, but I do not agree on the 4th wave scenerio, even though he has been a bull, and right!    Remember that, he's been right...but I think we are in a LARGER degree 2, and that would fit into the odds of my first scenerio, so with the breaking of 1085 as support, we could head back over to the area of 1105, and that will probably only end wave 3 of C, but with todays action, the bulls got back their support in Volume, GE traded 2X its normal volume...and that is scary...so  Lets go back in time to "R"s call....a top in March, and it could happen, and the odds went in the Bulls favor today...61.8% lands at or around 1110, but the gap down is almost perfect 78% retrace at 1125-30 area...and ever since I have been trading, I have not ever scene a larger degree 2nd wave not retrace at least 61%  and for some reason they usually always land in their major gap...so thats not good for bears right now....

So thats it for tonight...check out PUGG's site to the right, see what you think.  I will go check out what EWT has for tonight, and let you know that in a few min's.  but I would continue to say they will have a 3rd wave is starting NOW...LOL!  sometimes EWT kills me Hotchberg and I do not see things the same way, I myself am just a Prechter fan....gotta get dinner fixed...will update in the comments..later >L

Monday, February 15, 2010

Life just an interesting video..take a moment..

http://www.ted.com/talks/dan_buettner_how_to_live_to_be_100.html

"Fasten Your Seat Belts, It's going to be a bumpy Ride"

OK, its just been an incredibley nutty several weeks, and I do apologize. The weather, and events of the week has just eaten at all of my free time.  I started this post Fri, then again last night, and now I am finally getting the time needed to post my update...a few days late..sorry again. 

My bearish side is beginning to slide away with my time chart.  R, your March high really could come to light.  Now most of us have some kind of turn coming on 15-18th. There is still a large Bearish Divergince according to the McHugh camp, and the EWT boys are calling that we started the 3rd wave down and have the 2nd wave is about done or is done.  McH's camp is calling for a turn on Wed. of this week or the turn already happened last Thurs. This camp is calling alot at once..they say we have a large price move coming...the ? of the wkend is what direction...they are all calling down, My indicators are not matching theirs at all, I have a possible move up first, on 10 day charts...and that could mean 3hours or 3 days right now...and that is what is making all of my trading lately so difficult. I did exit my MNKD on Friday. I could not loose the profit that I had made on this stock to a large decline that I have no control over, so I took the $$, good or bad...even though I have this stock going to $12 area. I will miss the extra profit if it goes there but C once said when its profit its profit, no matter how you trade, and I myself will take 4% on this and leave happy. and I  am very pleased with my take on this small potatoe stock. I have traded just a hare bit over 12 thousand shares off and on with this stock. I just dabbled with this one, but I really feel this stock could bring 20$ in the end once they get a partner to produce the Inhalable Insulin, and I think at that point MNKD could be bought out by a major competitor..so I am looking for a correction and will be purchasing again to possibly hold this one.  So, let me know what you think, research it, I love feedback on a stock that I like and maybe you don't, so give me your thoughts.  OK, but I heard a guy that I like alot call for a further correction of another 10%,   Markets are closed Mon. for the Pres. Holiday, and I hope that most of you do not have to work, but some of us are not that lucky, and another major Snow storm is heading my way, so either corrective wave 2 is almost done, or we are heading up to finish the 2nd wave and its causing my QID trades  and myself to be down 14.58 % down right now ont his trade..my limit is 5% usually, but I overslept and thought I had my loss stop in...major mistake, If  the odds on this move change much more, I may have to dump my downside stocks, and just re-analize my position, and suck up the loss, that is what trading is all about.
RK, Investools is just incredible for the beginner. It has so much information on it, the training video's and other great beginner stuff. I would recommend this pay site to anyone. It is linked with TDAmeritrade, Think or Swim and has Prophets charts. I am still searching the site..I have only 20 days left to make up my mind but I like the freecharts site too.  Have a great day off will update later >L

Thursday, February 11, 2010

Devil's Triangle

OK, I am sorry everyone, its just been frankly Hell around here. Between cars stuck, and black ice, the craziest volitile market I have seen in years, and record breaking car wrecks, its just been a great week. Thank God I still have a job, can get up to go to it, and I still have my car!  LOL!  I am worn out!  but hey, we can still make some $$.
I see that we have finally broken out of the Devils Triangle today, thats a great sign. The only ? now is how far up are we going? and when is the turn date?  For myself, I have the 15th, most of the pro's have the 16th-18th,  So, will that be a top?  I would say yes, but with this market I have been really wrong alot lately, on my daily moves. But, at least I can be honest about it. I am glad to say, I am not the perfect trader. LOL!  If you had looked at the $SPX over the past few day's we had formed a decent looking uptrending Head and shoulders pattern,  and I am still bearish , but my indicators where still in oversold positions, so I was in caution mode, even though I did not get to tell you all those thoughts.  I had re-purchased MNKD and was actually in a loosing trade until today, so I woke up to a nice surprise, but my TZA, SDS, have suffered heavily but I will buy more..with caution, if we break over 1085 on $SPX my views could change, and we could be in a much larger degree 2nd wave, and for the first time in a year I could suffer some serious loss's because I am so heavy to the downside..  but long term I still have a serious fall coming, and so do the big boy's. I will try to update tomorrow morning on what some of those views are with them. OK, but gotta run, so sorry again for not posting, hope you all understand...>L

Wednesday, February 10, 2010

Up and Down

OK, no time to do any charting everyone, I have spent over 25 hours at work in just 2 days..check out the snow on the deck.. thats just  a little compared to whats there now...and look at the photo I got over the weekend..now was that a cool shot or what.. nothing like holding up traffic..LOL!  OK sorry RK, I finally got thru to Prophet..will have a chance to search the new site tomorrow..but if I get home they have I70 shut down right now...maybe God knows that I want to stay home tonight...X your fingers for me!  I gotta get some rest...>L

Sunday, February 7, 2010

Well, I was wrong, the opposite happened on Fri..:)

OK, I borrowed this from the Purdue Gridiron's site...located on the rt. of the blog..   Pug as he is better known has always got great charts...so I had to use this one of the $USD... it really sucks when you cut your finger and can not type..band-aids..ugg...anyway..it resembles the $SPX alot in reverse..if you can imagine that in your head or just pull up a chart...  So that would explain the sudden turn that we had on Fri, and why we ended on a pos.note. Now if you go to Pug's site, he has the dollar tanking...I do not agree,  as I have stated in my two scenerio's I feel we just completed a "B" wave, so in turn so did the $  to the upside instead of the downside..classic if u ask me...off with the bandaid...OK, now lets chat..bear with me OK, if you look at Nov high that would have ended a move to the upside, was it a wave 1,or 3 I do not know..but the dollar fell till Dec/Jan area of 09 for what I call wave "A" then momentum set in for wave "B", till Mar/april 09, then we fell into a "C" wave or this C turned into a possible ending diagonal triangle...does that ring a bell...with the $SPX????   Are you following me on my thoughts...OK, so since its a possible C wave it was corrective but the trend to the dollar long term(meaning years)  has been Bullish...and so the opposite with the $SPX, we are in a larger Degree Bear Market...so why I used his chart again was for his great display of the 200dma(day moving ave.)  it lies on some great support, and so does the 50 dma...if you notice the 50 is moving up about to cross the 200 in a few days...at times this is bullish...short term...but they do not have to cross, the 200 could hold at $78.37 and then turn to the upside again...hence the short corrective move that I am looking for in the $SPX as a smaller degree posible 2nd wave scenerio of a C wave and then back dow we go...and short term on both charts they have hit resistance, and it is strong, on both charts.. I ran a Fibonacci retrace from the top of this fall on $SPX on 2/2/10 to the bottom we hit yesterday it retrace exactly 38.2%.!  Now we also hit a 23.6% on the entire move down from 1/19/10, could that be it, well Yes it could and to be honest we did 5 waves up so look for a down move on Mon. that could either bounce for a B down move or be just a continuation of the bear move, Or we could be In R's larger degree C wave that could go higher...here's the numbers..23.6%=1069.12   38.2%=1084.56    50%=1097.04    61.8%= 1109.52   so that is the fibs from the entire move so far...I am exhausted...we must have gotten close to 2ft of snow and I was in the saddle for almost 11 hours last night.. so I am going to go veg for the rest of the wkend...RK..I will give you an update tomorrow night or tonight I guess now that I just looked at the clock.  C, where are U??  A, are you out there ?? OK night all...later L

Friday, February 5, 2010

I'm In the Crapper!

Could any of you imagine my luck this fine snowie morning to come home to "NO", Charts!  Just amazing..they turned them off with/out a note or a return phone call, since I have only called and left mess, after mess, all wk long..but  to turn them off on a Fri...now that is just down right fighting words for me...I am very dissappointed  in their customer service...and I will let Investools/tdameritrade know how I feel, but obviously they must not care...enough said..

Dow Jones Busted the 10,000 support..not with alot of gusto, but they broke it, and that was enough for me, My thoughts go like this...lets say that was a B wave of 2 of 1 of 3..and we have to go up for the C wave..just a smidget move...38.6% or less...then the Big KAHUNA   "3" of wave 1 of 3 hits...just and idea bouncing in my pea brain...if not then a larger degree C wave could form...but with the Dow busted again...short and sweet , so lets say we go up at the bell....and we are down big by the closing bell...???  thats about it for me...No charts so, its hard to see the #'s... I am heading to stockcharts right now...have a great Friday...  R, hope everyone is feeling better...the bugs are nasty right now...later >L

Thursday, February 4, 2010

Hybernation..

As I was sleeping like a real bear yesterday, I almost overslept for work...LOL! Now, would that have been a good kick in the pants if I had done that...  We have a firing policy on...anyone is eligible...I love my Job! I made it on-time..only to find out that my butt had been bumped from my job, now that hurts when you have enough seniority to work days, and you get bumped off your night job that I have had for 3yrs., does that tell anyone out there something?  So, there are alot of under-seniority people under me, lets just call us all Ratts..OK, and all the ratts are not happy right now, as a matter of fact most are panicking they rely on overtime to make their car payment's  and just to feed the guppies, but there is hardly any O/T left all of the good jobs are gone and not coming back, 8hours a day is back in the budget, as other drivers are bumping them off the jobs they held, its the domino effect at its best, and it can get really messy, people get angry, and say things that are not nice..  So, right now, I will really be honest with all of you and tell you that companies will do anything to get people stirred up so that they say and do things that could potentially get you fired, insubordination, vulgar language,  they call it work place violence!  We have alot of that right now...LOL!  I work the dead mans shift so that I can trade a few hours a day, and keep up with the laundry around here...actually I call it peace and quiet. The guppies just want a roof and food, they could care less, its all about them....I was like that once, and yes now it is about them...The snow is coming again.. they say 6-10 inches possible, I love snow...hope it just turns into a blizzard..yummy I will go sledding, nothing like a set of doubles sliding down the open highway...LOL!  People panick when we get close to them,, No, No, not the dreaded Pretzel makers...yes thats what we call a set of Doubles or PiggyBacks when they wreck... a Pretzel. you honestly do not want to get tangled up with these things, its like the train effect...they take out anything in there path....they are over 70ft. long... So, the next time you are about to pass an 18 wheeler, just remember a few tidbits I am about to share with you....  always approach with caution..there are many blind spots especially when you get close to the cab of the truck, very difficult for the driver to see the car at that point... Do Not flash any lights at the driver...this is a no no...we flash each other to come over to pass or to let someone on an on ramp, and it confuses the Semi driver when a car does this...not a good idea...  The most important thing is that when you reach the decision point- better known as the middle of the truck and trailer...watch the truck's front Tires! You will always know what the driver is doing by watching the tires...at this point you have "3" yes "3" seconds to make your decision to either pass, or to brake and get behind the Unit...this is the most important tip that I can give to anyone who travels alot....OK, if you have any more questions just let me know...and "No" I can't take you on a ride!  LOL....Back to the Markets....

We are at a crucial juncture Now...the market needs to make a major decision..UP or Down....Currently as I am typing Futures are down  and the trend's seem to be that we Tank on Thurs and Fri's right now...  Mon's are UP days...its been that way for sometime now..I wish I knew how many weeks it has been doing that...???  sorry...but we have lost alot of steam on this Rally, and as I had stated the other day, I think I posted 980 but that could be revised to 1030, for the Bulls  to come back we need to break 1130...in my opinion...Next Toyota...just remember to buy the stock on the next up move...it will come back...the timing for this to happen is just remarkable isn't it...  OK, please refer to my previous post for most of what I just went over.... I'm half asleep...  and half full of coffee.. Truck drivers!  watch those wheels!  will post later..have a safe day....  Oh looking to buy FXP.....and some more TZA...  "C" are you out there?  what do you have on your indicators..?  R, I got your e/m  still can't get the chart to work, so sorry. I will try again later...and  just to let you all know  looking at long term charts I do not think we are going to go much lower on this move if we do..but I do not think this will be wave 3 of 1   I think it will be wave B...do you understand what I see...????  Bear mkts B waves go lower and look like a brake out  then they fake out.. and go back up in a C...to the bottom of in this case 1080-1070 area...????  this could be the scenerio that you where commenting on =  R in previous post...up in march....??? let me know you two..later >L  uuuuuuuggggggggg  Jobless claims...futures are really south now....I love Rick Santelly....he just lets the wind out doesn't he....LOL!

Tuesday, February 2, 2010

38.2% is close on Retrace

ARC,.  Very close to my 38.2% retrace...heavy resistance from here to 1120 area..  We dropped 80 pts, and if this is a possible corrective pattern from the march low(remember this march low move is a bull move in a bear mkt)  then we could have finished an "A" down and this pattern could be a B" with retrace up 40 pts. thats around 1110 area...and we have resistance there.  if this is a 2nd wave pattern in a 3rd wave down and if we finished wave 1 of 3 like most believe then we should be looking for a move down at this time...and we could be finishing wave A up of 2 of 3, looking for a B move down for 20 pts to 1090 area then a good move back up in wave C to either 1110 area again or to 1120, but remember we can retrace to 1150...I would not like that at all, that would mean the bulls are back in control...so my cut off is 1130 on s/p  resistance lies there again..but if we break that...bulls could be back and that would mean we where not finished with the march up move...and would still have a final 5th wave up to go...I really think its a coin toss at this moment...I gotta run..have a good night.  Hey C, where ya been? miss your comments..  RK, I have had a few min's to look at Investools New set up with TD Ameritrade... it looks really nice... I am impressed if you want to know the truth... so I am calling them as I type..I will give you the low down in the morning... later all..sleep well...>L

Monday, February 1, 2010

I need recommendations???

1st RK, I am working on information sites for you, just to let you know. Glad your sticking with Andy...OK, my delemma is this......
For years I have used Prophet Charts, I love them. Then, oh year or two ago, they where bought out. Now, Tim Knight thought that this was OK, he was still pretty much in control of Prophet charts thru Investools who bought them out, and RK, this is one of the sites that I highly recommend for you, Investools has almost every answer to almost every question you could have on trading and analysis.  Their videos are some of the best I have ever scene, but I do not belong to Investools.  Now, a new player has come in and bought Investools out, and with it Prophet charts.....TDAmeritrade.  My charting service is going to change big time and I only have a few days to find a new charting service or stay with TD ameritrade...it is cheaper than ever, but I loose my E-Mini service and futures data link, they are not offering that service...I find that very strange...since they are a trading co.  The other delemma is they are getting rid of Java charts... and I am so used to using Java...I think I am going to have a coronary. LOL!  Do any of you have a suggestion...I can't even believe this is happening at this time...what timing. Please let me know who you would suggest...I would appreciate it...

Market outlook for this week, we go up and of course futures are up right now...not alot but the day has some bumps in it (News) Ism manufactureing is the devil today, Pres budget too, but lets get real they will spend every dime some way...so lets look for move to 1100 if it breaks there...1120 is next...so, after that buy to the dark side looking for a lower move after that...that could happen tomorrow  Thurs. is super big day..ssssooo we could bounce till then....thanks  >L

Blogs and Bloggers!

Its been interesting lately how Blogs go Up, and some Blogs go down. I'm a new kid on the block. I have learned alot of lessons about Blog's, and Blogging, but there is alot more to learn yet I am busy trying to figure out the Market so that I can give everyone some information that might be useful to our trading.  But I have noticed a trend setting on some of the more popular Blogs. They are turning themselves into Pay Blogs!  That is interesting.  Some of these blogs have been around for Years, and suddenly they are getting, in my opinion greeeeedy.  People are freaking out, and are desperate for information on trading. They want information so they start blogging. So, traffic is up probably 3 fold, in most of the popular Blogs. Now I have no idea how many people come to my site, and most of you come here because Andy helped promote my site, and I am very grateful for that. Some of you may leave after Andy shuts down, I hope not, but that is the way blogging goes. I guess my point is, that its sad that alot of the good bloggers who really have helped so many to learn the simple basics of trading,  need to leave, just when the party is getting started.  Andy, I think you have been killed off by all the new bloggers searching answers to the million dollar question...Help me keep my $$ that I still have and try to get the money lost back!...   So, I frequent a guys site who has a counter on it, and I wrote down on a post-it the # that was on it I was like # 6,253 when I found him...that was late summer, he has over 42 thousand hits now...now that is incredble. The power of the internet  and then Andy has information on Gann...so he has had to get hit just as hard if not harder...I see why he is going broke...sorry Andy...Hey maybe you should go pay only?  Or search for a promoter  like Options Babe did?  Her new site is nice, but I feel that eventually it will become pay only...just my guess....and that is OK, I pay for McHugh, and for the information he gives me, and believe me Andy is just as good. and for most people FREE is great right now.  But we will miss all of the Blog's that are leaving and some that are going pay only...  Goodbye cruel world....and sometimes it really is.  >L