Tuesday, April 27, 2010

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

3 comments:

  1. I went 35% to the dark side today.. I hope the Bulls don't toast me tomorrow.

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  2. R, I think you could get a good move out of this, but still looks like an up move this morning, and of course futures are up... I am used to that..LOL! I just keep backing up the truck.. I kinda did a wild trade 2wks ago.. ABK, was showing up all over the screen.. so I bought a truck load of it, and rode it up on the hot day, and dumped the load, for one of the greatest trades I have ever made.. I patted myself on my back for the risk but the reward..Yummmy.. all my losses back and more.. I need more of those shit short trades.. Good luck..today>L

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  3. Hi L,

    I am back in town. Got stuck due to volcano eruption. I will be here (on the blog) for a while now....

    RK

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