Almost There``````

Here we go again, we could be almost finished with either wave 1 up in 5 or a C wave in 2...???? which one would you choose?  I say the odds say "1", but it will be Friday... and well, I still like scenerio 1... so what stock should we choose to just catch some action on....  hint   they are the talk of the town  ypppers  GS, up just a mere $10 since the whooping they took on capital hill... funny how love goes?  Oh that was a lyric  wasn't it... OK, I really like GE too... can you tell that I sold half of my stupidity the other day!  I like several stocks... but be ready... we could turn just after the opening bell, go down for wave 2 of 5 and then around 3:30 or so head north again... very possible.. the other is we just go into Warp drive and hit 3 of 3 of 5... hummm  I need to do a count but I have not the time.. go see Pug... he might have a 15 min up.. OK, gots to run... have a great Fri, and wkend... later >L

Sucker's Market again!

OK Guys and Gals, Yesterday, I was flying off the handle because I was trying to update before I took off for work, and when I got in this morning I had a few min's to really ponder this thing, I already had noticed the expanding triangle, so that got me thinking, so off to PUG's I went, because lately he is my favorite chartist.... and if any of you beat me to his update yesterday he already had the expanding triangle theory... I have to give it to the Boilermaker he is good... OK, he is great!  I am actually jealous that he has the time to do such nice charts... So, I just pulled up the EWT boys, and a day late and now a dollar shorter they have the Expanding Triangle... so Here is Pugs chart ...so nicely done... OK, that was his 15min from yesterday, and if I had scene that before I went to work, I would have posted so that "R", could have jumped out with only a 2% loss I hope.we did go down to 1181 today for a new low to end the 5 waves down in that move from yesterday..... don't be like me right now..OK, only my ABK trade has saved me ass OK, so, this pup goes higher... but we have to look at the possiblity of what I had said last night.. that this expanding tri, could have started around april 5th.. Now back to the EWT boys... they finally came up with this Idea..(light bulbs need to flash around Hotchberg before he sees anything these days) he is calling the move yesterday as a "C" wave of the ex. tri. so what was todays move the beginning of "D"?  well there was not a whole lot to the move today, but afterhours is just cooking... and that worries me.. so today had to be a 1 up and possiblity of a 2 finishing of wave D, so in the morning we should start a 3rd wave up in wave D... or is it the 2nd wave up of a topping process.. keep that in the back of your mind, and notice where we stopped in S/P today... right around where I had resisistance at 1192 area.. we broke it a bit though high was 1195... so either or, Wave 2 or Wave 5.. oh ya we still need to do wave "E" if it is a triangle... and that one will scare some and I like that thought... so gotta go.... R.K. man sorry you got caught in the Ash... I know several people who just got home Yesterday from all of that... they called and said they will not be able to afford a vacation again for 2 years because it cost them so much... that just sucks, let alone one of them got fired from their job...ugly.... gottts to run...>L

Straight from the Horse's Mouth!

Enjoying GS on the Hot seat...let me Refraze that...Joke!  This is just to satisfy the German traders that they cleaned out, and other various Parties... Totally waisting tax payers $ again. OK, EWT update.. since I do not have time to do my own interpretation of the market... Todays decline elliminates both the ending diagonal and the running triangle theories... so, they are saying we are in a Flat of a "C" wave,,, correction, Hummm  so they are saying we are going to Rally either tomorrow or  on my turn date of Thurs,Fri... isn't that interesting... so if we decline below 1170 it would also no longer be an expanded flat correction... so more details tomorrow night...LOL!  why do I bother to subscibe to such  lame analysis, sometimes I wonder... I personally saw a perfect "Ghost pattern" (woodies cci) which always trades out to the downside...  Yes I have studied many types of trading patterns... and there is always one that works everytime, and Woodie came up with the Ghost, well it is awsome... now did we do 5 waves down today? Was it compulsive to the downside...Yes it was, butttt  it will counter rally, soooo did we top? Honestly, we broke the channel, hit support maybe we did 5 but I think we need to go to 1192 area, then we fall some more..  Sorry, after reading EWT I had to bring my charts up, they just kill me sometimes... You see I need that other side that sometimes I do not see, with my busy schedule, I just do not have time to research all the data out there, and I do not get to see 90% of the market during the day, so, I need that professional side I guess, and most of the time I am right and they are wrong, thats what burns me goat... but I am a short term trader most of the time...  OK, so next support is really 1150, from my chart.. we need to get there, but larger channel is still in support from Sept 09... 1150 will break that channel, get us to the next Fib fan line and then we go up for the final 5th or 2nd wave move in my opinion.. Oh 50 day mov ave is 1159.63 so that may be the support we need but we could go to 1175 bounce go back to 1210 area (make a nice 2nd wave.) then fall into a larger degree 3, OH I just saw something interesting... on 30 day chart, we are in an EXPANDING TRIANGLE!   How nice.... we fall just a smidget more then turn up for final 5th wave?  Now my only problem is that this expanding could have actually started on or around April 5th.. if that is the case we are done.... see what I see.. the last move was 5 waves up.... so this move down could be the start of a larger correction just like 07.... gots to run.. have a good night..>L

CHRIB'S Mom's CHART!!

OK, Chrib has given me the OK, on posting his Mom's chart that he posted several years ago. Now, I have no idea how old this chart is? maybe Chrib will repost and tell us, but when I found this on his site, I was in ahwwww... because I took Prechter's book on page 25 figure 1-4 and I took it to Kinko's at the time, (now fedex kinko's) and had it blown up to bigger than poster size... Now why did I do that, well I started running future #'s and basically Price Time projections... thats how I found PTV Investing with Andy, and then he had Chribs trading sitehttp://chribstrades.blogspot.com/  and I really like what Chrib does, with EWT, and Fibonacci, and I also use a little Murray Math, breaking waves down in 8ths... so anywho, I was searching his Archives and ran into this Incredible work of Art......picture above... I have of course saved this in my Archives of favorite projections... Her work is basic, but accurate, it shows the basic formulas for projecting the future in Fib, and EWT projection.  Thank You, Chrib, and Thank your Mother for us for allowing me to reproduce this for a few of us to see again.   I hope that most of you appreciate her work as much as I did when I first ran into it.  My #'s and projections almost match her perfectly, but I work mainly in S/P, but $INDU is more accurate to project in my opinion. Look and study her chart, let me or Chib know if you agree or disagree, Prechter has his updated monthly Theorist  that I finally had time to read,,, the chart above is incredibly similar to what he is calling now.  For myself, my time studies have been blown out of the water... and Prechter has kind of cleared up my Price and time problems and hopefully I can get back in the grove with this update... I will try to get deeper with that update later this week, I have a turn date scheduled for Thur/Fri, and it is coming up as a warning, to possible change in direction, so we will see. I had traded very well up until Jan. and I have struggled ever since then, because I feel we have a large or larger fall coming, but I dove in way too soon, and have lost out on a great Bull rally in a bear mkt. Too bad for me, I hope that most of you made some moola.  Earnings have just blown me out of the water, and I fear this Stimulus Plan will keep working for the near term. Tax returns are being spent, and it was a long harsh winter in the Mid-west and East coast, well really it was bad everywhere  so people are fixing up the house and buying what they now can afford to buy with tax refunds.  I have problems with alot of things though, Housing really is not good, their #'s the other day have to be lies!  New home sales are not up at all in any area's that I checked, as a matter of fact just in Central Ohio alone there is currently 24,000 foreclosures, and 55,000 homes for sale in the area, of course that includes the foreclosures. I have several friends that are first time home buyers and got loans, but it was not easy. Most of my other friends want to refy, and the banks will not give them loans... some have hundreds of thousands in their accounts, could pay cash, but prefer to use the banks dough, they have been turned down. I think their is some serious problems building up, wether it is the dollar and the fear of inflation or deflation, to these great housing starts... Its the same feeling I had close to the top of 07, so we will keep going up according to a friend of mine until all of the Herd starts putting $$ into the system because of fear that they might be missing out on the greatest bull market in history, and that really could be true, yet Unemployment is  at its Historical High.  Technology stocks are on fire... it reminds me of the old Microsoft day's, where you touch it it turns to gold instantly.... just be careful... some of them burned millions in just and hour out of peoples pockets... when it burst... China, are they lying about their growth, or Inflation?  We will never know...we can only estimate how much they are deporting but it is OK, as long as they do not screw with the Yaun, and keep buying treasuries, Geitner and Obama will be fine.... Progress is in the eye of the beholder...The stock market has just got to Hiccup soon.... straight up this fast can not be good.... at least in my eyes...Futures are UP, imagine that...LOL!  OK, Thanks again Chrib &Mom, have a great day`~~~  L

R... I think your right...

R, looks like we are in a 4th of something.. 3 or 5? Gosh sometime's this sh-- gets old doesn't it.  I have to admit though,,, Even though I am to the downside.. I have made a good run of this up and down 4th wave.... the wave has been nice and easy to read since it is riding the channel just so nicely.... so do we end now at the 61.8  1229s/p ....11246 on dow... or just a bit higher...   I have been following volume... and I do apologize to everyone this has just been a crazy couple of weeks for myself and also in the markets.. if you have noticed we really have not moved a whole lot... so we are in a topping process and sometimes that can take months... as I really feel this is what is going on... I need to go over to CHRIBS trading... his mom  made a chart several years ago that is just so painfully right  that I could just kick myself in the ......  well you know what i mean.. so I would like to have his permission to post it since it was her creation   and deserves the credit for this... so I shall do that... I hope some of you took the time to  go and check out some of those video's that I mentioned the other day.. they where interesting.. I have been working on a project for sometime that I have been wanting to share.. yet I just keep loosing the time to finish it to publish it to all of you.. so I might just start by doing a few pages at a time... and then I can find out if all of you like what I have done...or not.. OK... we are starving for a correction... but earnings are just blowing everyone out of the water... but I had mentioned that I the stimulus package has just got the mindset going that all is well in "OZ", so the car czars have paid their dues and paid the gov back, come on this is a joke now, they still owe the gov billions, but hey all is well in "OZ",  so, lets see what could come... great earnings,   Of course... some of the most important $$$$ issues that I forgot in all of my scenerios is the  amount of $$$ comeing in from 401K's and from Overseas!   I totally neglected this added benefit for wall street..  and in this market they have created many many millionaires from this Rally, so $$ is not flowing in the states but it is flowing in asia, and africa, and at an incredible pace too.... their economies are just like the roaring 20's or the fabulous 90's that we experienced in our economies, but the key is that we have given our technology out to every country, so it has cost us millions of jobs and our economy has sunk  but the companies like Google and Apple are just warming up.. they are making billions and the other countries are eating up their technology as fast as they can, so they will eventually duplicate it, and then the big dogs will be out on the street... unless they get some serious protection... Example, I ordered a very expensive set of DVD's that I won on E-bay, I have bought alot of stuff from Australia, and again this purchase seemed on the up and up.. got the Dvd's and they are copies... so not good ... had to turn this guy in... but the I-Pad is next.... .. I gotta get some rest... been up for two days straight.. not good.. so everyone have a great wkend... today looks like up and maybe a lower close.... later L<>

Goverment Blues~~~~~~~~~

Now, what timing for  the SEC to come out with these charges against the God of Wall Street!  Friday's trading was just that .... Was!  The downside momentum really stirred up the Elliot Wave People and to add insult to insult you really need to go to CNBC video archives and pull up Joe Kernen's interview with Steve Hotchberg on Friday at 7am est. time... Joe just tried his darndest to pull old Steves chains... let alone just brow beat him a few times... sorry in a hurry I will try to post it in the morning... So, a counter rebound this afternoon with help from the CNBC camp... they love Goldie locks if any of you watch it enough... they do.. and the Gods responded by haveing a nice up day... today, now are we done.... who knows, I would say this could be the start of a topping process, as the tides fight back and forth on all the allegations against the Gods of wall street... so we go sideways in my opinion.. for how long gosh your guess is as good as mine... its earnings season again too... Louisa Yamada had a nice interview with King world on Friday too.. she says we could go higher... so tighten your belts... but you better have your trigger finger ready if you ask me... its time to take profits for the big boys... may is just around the corner... gotta run...>L

Awwww could this be it?

Oh my, we are so close.. to a correction... that is.. now is it the big kahunnna... No.. I do not think so,, earnings season is in tilt... and Remember Options expiration is this Friday, so anything goes right now... I just noticed that Pug has a new chart count up.. and he is calling for the end of Wave 3.. and I can not argue with him at this point, since the guy has been soooo right so far... check his site out.. and lets get this chart up that Wendy Kirkland did on public chart list, on stockcharts, Oh I just wanted to share this first photo of how much snow the East coast got this year... those are full grown Bambi's and they had to work hard to move thru all of that snow...any way.. spring is finally here, I hope they made it.... OK the chart...and what a chart it is... speaks for itself... could this start a big move down... yes we have been overdue for a month... so as I must admit my trading has Sucked....so hopefully I can redeem some of my loss's, now Pug has a 38% correction racked up...sounds good to me... but, there is that other side of trading that defy's your imagination... and that is how could we go higher?  Well, as I had written before.. there is a factory somewhere called the Fed Reserve that is printing $$ as fast as the printers can let them... slowly  moving the market higher..all by itself if you ask me...But my track record for calling this puppy has gone south with my account but hey I have to get it right eventually don't I.  The House always has the advantage, but even that sometimes turns on them with a vengence. Elliot Wave is calling for the drop to happen today as I am typing... but the S/P has to get to 1200 and when it does... could they blast this baby higher still, I think so, I have yet to ever see a second wave that passes 50% not go to or above its 61.8%  so this thing will go higher and that is around 1219...or higher... but will that be the 5th and final wave move...we will have to wait and see... If you have any comments  just leave them... I like comments... OK, have a great trading today...

HI C... I agree ..

Yeppers, thats the call  C, one last push... is it going to be 1200.. not sure.. the 61.8% line sits around 1220 this is not an exact #...  I had posted that some time back I think... the question now is this just going to finish an "A", wave up..????  then we fall into a "B".  or are we about to start the ever inticipated "C" wave that Prechter and Hotchberg said was starting in Feb.????   Now, if most of you frequent other's sites they are hating Prechter again, because he told everyone to go 200% into the market to the downside...which of course most of you know that I was already to the downside when that Monthly Theorist came out... then I got out and got back in again around the 1100 area.. and I am still in... so needless to say I am sorta kinda hurting in my postions but you can't cry until you sell right!.... so I have backed up the truck a bit this week, and bought some more TZA, QID, so I have not been hurt yet there, as a matter of fact I even took some profit along with my trades in GLD, and SLV, that I am still in... so, I am making up some of my losses as I am typing...I just love SLV.. I will take some profit at around $20, I have positions in at $15.00, and $15.73 GLD I was not as fortunate.. but I am still happy with in at $110, I waited on that one too long, but its still in the $$ and I think we still go to around  $119 till we hit resistance....  I had to drop my trade on the $$ by the way, it seems like it is still going up and taking stocks with it, funny these corralations sometimes do not Jive....Have a nice wkend everyone..later >L

Sorry, Its spring again!

OK, as most of you know I have a side business and well, when its nice out I have to be out on the road. So, I am sorry about not posting, but really not much has changed.. Yes the market keeps going up, and it should since we broke some important Fib levels, so what is keeping it on the rise? Tax returns and the stimulus plan... now if Helicopter Ben will just stop printing money we can save the Greenback... but will he stop?  These questions are just a few that Ihave going thru my mind. If Ben keeps printing he will kill the Greenback, and that means inflation will hit, and taxes are going up it seems everyday. Jobs, well, lets really look at those for a moment. Yes, there are jobs, butttt they are paying only half what they used to pay, and of course there are 300 plus people for every job it seems that pays worth a penny. So, most of the jobs report in my opinion is bogus, and many important people feel the same way. So, lets look at all our options as investor's and as traders.
They are going to tax the living to death, and traders are going to be taxed even more for their good fortunes if you are having good fortune I should say. I look at our capitalistic system as the biggest PYRAMID scheme ,   Gov't/Big Busness  Vs  the people...  at the top we have Gov't next level Big Business, Next professionals such as lawyers, and doctors, then the Independent Self employeed, and then majority of people are the Employeed... we rely on the Govt, big business to get that slice of pie from them...  but Taxes go just the opposite on the scale... the Employee's pay almost 50% of their wages to taxes on large to small gov. How can they ever get ahead... even the 401K was designed to be taxed to death...when you finally use it.. Now some of you may not agree with me.. thats fine go research it and you will see for yourself.  I could go on for days about the Pyramid that only creates slaves to its system. I can only go with this scenerio.. if the Greenback starts to fall...like it is suddenly doing.. then Gold and Silver is going to go up... so my next trade I see forming is in those two trades... SLV is looking like it has broken out of its triangle, today it looks like it could rest and take a step or two back but its only picking up momentum, so that brings on a short trade to the dollar... so your choice GLD    SLV and I don't know the short for dollar... so that is my view for now.. have a great day...>L