Trends....

Alright Traders of this site...lets look at this trend...technically the trend for this wave is still Bullish until we break some serious resistance levels such as 1050 on S/P.   Yesterday we did break 1080 which was a key support, but  the market quickly brought the downside move Sunnyside up again.  Thats what has me a bit, well, spooked. Then as I stated yesterday in comments, I have not been a good trader due to weather and my job. But I blame it all on Brett Favre! Seriously, I have not done my Homework, and I am failing at this test this wk terribly...so with Amazon giving earnings and the 1080 support hanging in there, we could have turned this back around and maybe heading back north with the bullish trend.  So, is this just a large B wave down? is it a larger degree 4th wave and is it an E wave that came out of the ending Triangle...????  or did we really start P3?   Hummmm    If it is an E wave, max target retrace is around 1025-980, If it is a B wave it can double dip but usually takes the position of 50% retrace..666 low/ 1150 high = 483.66 @ 50% =241.83      1150.45-241.83= 908.62     right at a correction in the move up,  so we  have alot of posible moves in this corrective faze, so we need to be on-guard! and very protective of any profits that you might have... OK, Have a great day trading, and Happy Friday to everyone...later >L

Lost Talent.....

Our Dear Online Friend Andy, over at PTV Investing is throwing in the towel. He will be sadly missed. For several years I have been a big fan. I have totally enjoyed his blog, and enjoyed commenting there. It will be missed by many. We wish Andy the best of luck, we hope he either joins us to comment every once in a while or He re-opens a free blogger site like this, but we really want him to know how much we really do appreciate all he did for us. It is a loss for Gann lovers he does great work, so he will be keeping his Pay site though, so join him there, and help keep his dreams alive...

As, far as my 3rd wave theory, Ugggg I sucked on that call.  I need to keep up with the social calendar, and events of the day and night...if I had only remembered the State of the Union...I would have never stayed in this mkt.   Oh well, I have taken some punches so here I am again, but it does not change my over- all view on the mkt. The Bear market is still on...so the next few days will be interesting...Gotta get some rest, have a great day...later >L

Support change...!

looks like we could bust the 1080 on s/p today...shooting for gap at 1070 area..also channel crosses at 1074 from lower support line ..my count and oscillators say...3 of 3 is on in wave 1...will update hopefully tonight..good luck to all of you..trading   TZA  SDS  QID  all levels covered... Prechter was on closing bell yesterday...he says to save your cash....later >L

Sorry, Late Post..

Everyone was caught up in the Brett Favre drama...Sad, to have several chances to get the job done and it did not happen. The chicken wings where good though

So, what to do, what to do...this move down seems to good to be true....hummmm.  I have to say, though this move has the whole town talking, I saw over at Bloomberg the news today was they may stop the short sellers again, with the up tick rule...whats new right? McH had a sell signal last Thurs. a tid bit late, he is not in the same camp as Precter...though, he states not to jump head first into this thing, and I have to agree with him for a moment, but this trend that we are in Is a bear mkt.and it is back, with a vengence. He does state we are in a bear mkt, but he seems afraid for the bears for some reason...seem's  very weird to me, the idea he states is to wait till we get to March 2009 lows....Wow, I was thinking the opposite, more of the EWT ideas...grab a good chunk now and then make sure you are out before we hit 2009 lows.  That way, we can  be ready for just about anything.   We could have a double bottom, or we could go on down to 600-400 on the S/P.   Years ago, when I first started trading I would have laughed at these #'s and I think most anyone would have. Reality has set in even for the Bears, that our lives as we knew them will most likely never be the same, even if you have millions of dollars. The wealth transfer in the U.S. and other countries has been and will get wilder, Yes, Wilder, I think we have to go further down, to around 1060 with supports like we have right now along the way. It could all happen tomorrow, or it could take weeks. Remember we are 99.9% this has started the 3rd wave down or "C".  We are only in Wave 1 and we are very near a finish of wave 3 of 1, so most are looking for a rally, I am not...This wave should be SHOCKING to the WORLD, Trillions should be lost world wide...thats what I think...my counts are not the same as everyone else's I feel we have not even started the 3rd wave of 1..that we are in a B wave down with C to go up of two...The $VIX is on fire!  and is in a 3rd wave for sure...if it retreats..I feel it will be the 2nd wave. With Co. in this wkend, I did not get to update  charts or even try to take a picture to show you...Caution should be taken here though....the PPT team should be trying to save the market. Bernanke wants to be Re-electecd...so tread lightly and I wil really do my best to get some charts on even if I borrow them...LOL!  OK, good luck trading...>L

RED ALERT! RED ALERT!

ARC! This is a RED ALERT!  Everyone...it is TIME....for the Lightning Round, Yes! YES!

Seriously...no joking around, it is time to go all in to the downside or what I call the Dark side... this is it, I can feel it in my bones...and so can Prechter....I am almost 25% of my portfolio already to the dark side..so I added on to my positions again yesterday... My dear friend called me all panicky last night..he was practically in tears... Flip, I said Yep, its time...really, he said Yep...Red alert...we use that term when its a 3rd wave...but Prechter said to deploy Maximum leverage to the Dark side.... and to add a stop at 1-19-2010 High....so to all of you who believe that this could be it for the Bears! CHEER'S! :)  its our time..to shine again...Go Bears Go Bears!   they are a pretty good football team  I guess if you whatch football....OK, E-mini's have broken 1110 on s/p...this morning. this is a good sign,, I am looking for a small upside  a little after the opening bell,  we will fall first...I see a sub-min C wave to the upside, and then we fall again mid to early afternoon...the close should be ugly, very ugly, in my opinion...much wealth will be lost today....Good luck to you all...gotta get ready...if this is it...it could be a very ugly depression for all of us...as I have stated before...you must get all your eggs in your basket before the rest of the companies on W.Street..  I highly recommend Prechters book Conquer the Crash...  we have support at 1110,1100 area,,, then the 1080...PUG has a great update from his E.O.D trading from yesterday...we kinda see eye to eye right now...but lets see how this trades out today, and I will do some serious homework this wkend..and I will have a very long update..so get your favorite snacks or coffee ready...then I need some serious feedback, we must work together to gain max. gains from this move...its a matter of survival in my opinion...then again most of my friends think I am nuts anyhow..LOL!  Cheers >L

"C"and "R", How did you know????

My internet service is finally working at full steam ahead....so, as I have traveled to several of my favorite Tech analysis sites, they all seem to be very overly Happy!... "C"R", how did you know?   It was a very good call. I am impressed, I am sad that my turndates do not match, and that confuses me a bit?  But as I had stated a while back I thought this pattern could take months to trade out, and it has taken now close to 2months, and is it really over? I don't know, and I would be silly to just think this is a done deal, I am sorry, but until we break some serious resistance #'s, I have to just wait and see like everyone else.  I am ready for the turn though if this is it!...Now, Eliiot Wave has it finished, so does Mc Hugh...so that was refreshing, I just still have a count issue with this move, but hey, I have messed counts up before. Now, "Hot Options Babe", Planet Yelnick, and Evil speculator, seem to be all agreeing too....but the Evil one, feels we need to not get too excited, and that certain moves need to break support too...so that made me feel logical in my thinking...I love the Psychological challenge that this creates for myself, because we are reading all of this from many Professionals, but what is Uncle Bernanke and Papa Goldman thinking? Are they taking profits?, or are they not sure what they are doing? Now you know that Goldy locks uses a computer program, so that human emotion does not trade into their trades...but for the other fish like us in the sea, we have to reprogram ourselves, and go with our charts, gut, and knowledge of trading. We subscribe to the Big Boys for guidance and knowledge, ( I do I should say),  I do not have the time to devote to all of the Technical Analysis, charts #'s, and figures, some of the time I agree with them but sometimes I do not, I luv the comparison  and the challenges they sometimes do not even know that they present to us, and it makes me think outside the box...which is what we need to do right now.  Planet Yelnick has EWT, chart on it, and we are going to 400 on S/P, go check it out...I can't wait for Tues.  Give me your thoughts ARC, Have a great day off and look forward to your responses....>L                     

Internet Down....not good..

There is just nothing like it when your internet service takes a time out!  So, it really has given me sort of a wake up call. Especially since I have $$ on the line.  I think I shall be purchasing a  blackberry so that I do not miss out on updates and stock quotes. like MNKD...it hit the top of its channel on Fri. and then took a step back of around a dollar....now that hurt...but again, I should have know better, and should have been better prepared. So, let that be a lesson  not only for myself but hopefully all of you are better equiped in case of outages...uggggggg..... The People of Haiti are suffering terribly, I just can not seem to take my eyes off the TV, hoping that they can get to more people who are trapped, There are always miracles in this world, and they happen everyday.  Disaster's are always going to happen, its just a matter of when and where. Please give even a small donation to the Red Cross, every penny is needed since alot of their funds where depleted during the Hurricanes, and Tsunami and say a prayer for the dead and dying.
This is a small example of what can and will someday happen to the California area, it would be devastating to say the least. We as a nation could not get enough of anything to all of the people who live on the west coast, it would be the worst disaster in American History.
Market time.....  Well, what a week, seems like a repeat perfomance, don't ya think?
Rally Monday's are coming everyweek, and then we reset, and will probably Rally again. I think this will be week #32 coming up...On Thurs. "C" had mentioned we had some Moon theory going on, and Yes, we did, on Fri the 15th we had a solar eclipse, so that was interesting, and Thanks for the Info "C",  There was a lot of weird things that occured last week, and so did alot of tops to markets, but we will have to wait to see if these are True tops, or was it the end of the 3rd wave up and we are due for a small pull back...either or, we are close...very close...MLK day is Monday, so we have a day to sleep in, and I have time to catch up with charts before heading off to work, so I hope to either update my thoughts with you tomorrow night or Monday during the day. So, Hope your all enjoying your wkend...later >L

The Beat Goes On...

As a Bear I am exhausted....  buttttt.... something or somecompany bought huge amounts of Calls Wed. according to the CNBC crew this morning...  now isn't that funny!  I have to say its GS or Ben or maybe both.... but lets go with GS... cause Ben has alot of the Fed REs.. $$ in them...  Why? oh Why? did we bail most of them out...oh let us tell the story....we have all our $ tied up with them, and we have to have it all back!  end of story...and while we are at it...lets make alot More....LOL!   We the People are getting screwed!....  So, if that someone or thing stops and decides to take alot of Profits...hummmm This Old Bear will get excited again...  but will they keep Manipulating the market...YES!    Can we read their minds...NO! to bad for me...So, The Beat Goes ON....and on....Yippy for the Bulls!   so, I bought some more MNKD, and at least I have a few of more Dead Presidents in my back pocket for Now.  LOL!
I gotta run, but ARC, really check out this stock, it should be as good as HGSI...the one that I really screwed up on..sorry everyone...later >L

running late

ARC, check out MNKD, it should find a partner soon..running late will post in the morning..>L

Hot option babe

OK, everyone needs to go read Springhill Jack at Hot Option Babe...and while your at it..check out his charts, they are supreme.....R he has your #....later >L Just click on the name...take you right there...

Unemployment Rises again....

Reading McH's update has been inspiring this morning. He is harping on the unemployment #'s that are false as usual and the Anti-Stimulus package for the Ave. Joe. "Tax Payer".  I know some of you are subscribers, and believe me he is worth the cost in comparison to EWT.  I also got an update sent to me (accidently) from the Neely camp...I no longer subscribe to his updates, but it was interesting to see that he has us topping out within the next 30 days or so...then dropping into a triangle scenerio.  We do not make a new low in his opinion, I thought that was interesting. His top though is within the Mc area...1200, funny I do not like that # myself.. I have it going higher if we do the throw-over scenerio I had written about the other day.

He also goes on to talk about the 30 consecutive Mondays that this market has gone up, and as I am writing, it looks like it will be # 31... His Gold views differ from EWT's camp..now I think this is a battle...LOL! but I had  gold going down last week, and it did just the opposite so it has to be in a temporary corrective pattern, finishing A down and currently in a B wave going higher as I write... so again, it is very oversold, and should start a C wave down, soon...????  LOL!  These days even the Pro's Suck as bad as I do..LOL!  The good news is at least I can handle my worst reviews!....  I have done worse that is why!...  Oh and Neely, he jumped out in Sept. 09, and has not regained his composure yet, loosing the rest of the up-move just like myself...35%.....OUCH! 

I want to share some thoughts on this up move, If you go to a Logarithmic scale of the DJ  we could be heading further up to develope a Head and shoulder pattern...Elliot has always facinated me in several ways...if you top  it tends to always retrace tops and the same with bottoms...now I hate to say this but we could revisit 2000's top, we are on the GRANDsupercycle  scale, so if we went back to 2000, we would have a H&S pattern that then would pattern out into a triangle...S/P current 200dma is 1235.89, we would have to break that, but that is very close to where I believe we are going right now... if we break the 200dma, then we can look for the H&S pattern as another scenerio.  In the mean time..I have found a patten that seems incredibly similar to the ending diagonal that we seem to be currently in...and if this pattern is a C wave...we need one more move down to the 20 dma(1077.40) and then one last thrust up to finish this move. (walkers book on c wave patterns pg.167)  Then Neely has an interesting pattern that looks very similar to this pattern too...he calls it an Elongated ZIG-ZAG...or oversized C wave...he has the retrace going to 81% of the A wave.... figure 5-26, pg 5-22, of his book, again that would give us the H&S pattern back to the 1400 area... sounds crazy but it could happen  it is very interesting what he states about this pattern, that you would never dream it would happen LOL!  seems maybe this is the pattern...I would never have dreamed we would go this high...would you all?   OK, gotta get some shut eye, good luck trading..I like GE short term, also like POT, and JRCC.... KOL   and gold miners....Have a nice Monday...>L

Listen to McHugh, and elliot wave

http://www.financialsense.com/

This Bubble is for you "R"!

http://www.doctorhousingbubble.com/

Turn Dates?????

ARC, Turndates.   Armstrongs was Jan.5th short term, could last a few days up to week....  His next turn is after the next rally sometime in late Jan, Feb.   Astrocycle , 11th will be a high full moon. New moon is Jan 26th...Feb Full moon i s 9th New is the 25......Now one of his most interesting Turns is calling for a LOW April 13, 2010...Oh he has all of these great charts on his Stockcharts list...His real name is Francis Bussiere...maybe he is French? He does incredible work. I had only scimmed the surface of his Astrocycle.net  and then a friend called  said have you searched his charts..no, so I did.. WOW!  "C". you know that project I was working on?  Mr. Bussiere, has every chart  almost that I could ever draw or figure out....this site is amazing...take the time to search his stockchart site... He does super work. very impresed and he has saved me alot of time and questions...I will find more out R, but I have not had time to run my own turn dates, been sick, and have been working 14 hr days at work, so gotta get some rest...Oh be careful on TBT and the dollar they are coming up for corrective waves if any of you jumped in...after the correction should start a third wave up...thats probably our Turn Date "R"....later >L

Long live the BULL???

OK, this is not pretty,  I had this feeling the Bulls where going to show off their......and they did....We bears have got to be patient, but the upside could get ugly, If we break this top channel support that we are at right Now ARC, we do not see the light of day till 1152 area....top of the channel...if we manage to break that,,,,1182 is the next support.  Now, the good news is  we could fall from any of these points, peaks or levels, whatever you want to call it.  Remember some Elliot Wave formation information...kinda ryhmed didn't it...LOL!  seriously now..turn to your Elliot wave book page 73,    "THROW OVER, Within a parallel channel or converging lines of a diagonal, in a fifth wave on heavy volume as it approaches its upper trendline, it can penetrate it  or bounce off into a 4th wave then resurge in another spike of volume to break the upper trend line, buttttttt it must come back into the channel, immediate reversal back into the channel....something like that...I think you understand...what I mean..  The last hurrah! 
If we proceed to go higher, it leaves me to conclude two final scenerios...both I had mentioned at one time on A's site...  1) we started an expanded triangle  in 1999 in Grand Supercycle Wave 4 and we are then technically done...March's low was the end of the E wave.  Or  number 2)  Wave 1  of wave A ended on 11/17/08,  wave 2 started in perfect bear form...A up ended 1/5/09, wave B ended March 09 and we are now in Wave C of Wave 2, and if that is the case we are going to 1219.23    hows that for a figure!  the only way to know if we are in Scenerio 1 is to wait it out, the probabliities of this being the start of a wave 5 up would be shocking to me...The economy is faultering, unemployment is staggering and the country is just plain bankrupt.  Lets keep scenerio 2 alive ... and scenerio 3 , that we are still in a B wave...that has just extended....either I like....gotta get some rest...have a great trading day...>L

Welcome to 2010 :) Lets get this Party Started!

Lets get this Party Started :)  Rose Bowl is done, we are victorious!  Big Ten Champs and headlines probably will start off with, "What's 2010 have in store for the Buckeye's",  Honestly, with the Bucketts as we sometime's call them you just never know who might end up in Jail???  Hee Hee....But I think Tressell has a better grip on these young men than with the group he had in 2002.

OK, I know that at times guys and gals, I can carry on a hefty conversation all by myself here, and I want you all to know that I am going to try to Pipe it down a bit. My political and economic side will try to take a rest.  I have no idea how many people stop by to read it anyway..so thats that!

My New Years resolution is to be nicer to people and to myself..at times I am hard on my family and friends, like I just said..I will try to take a rest on everyone..that includes you lucky readers...

So, if you have not read Planet Yelnickhttp://yelnick.typepad.com/yelnick/  Check out the chart he uses at the bottom!   WHO had that chart first!!!!  Yes! ol Lib did...OK, not to brag or anything but come on....OK, I rest my case!
I have several reservations on the next moves in this Market, one of them is resting over at a fellow Big Ten fan's site called  Pugridiron's stock analysis..http://pugridironsma.blogspot.com/2009/12/dec-31st-2009-happy-new-year.html#disqus_thread  Ok, check it out cause PUG is good, I have followed his site for awhile now...His comments section looks alot like mine at times too..."0"...but  he at least knows when people are visiting...I gotta figure that out...LOL! 

Yelnick has a chart up from Elliot Wave again...so it looks like the boys are still calling this thing done, finished and if there is any Upside left it has very little. The Bull to Bear ratio is higher than it was for the top of 07", so the upside is swinging....and it of course could gather some momentum, back and forth,  so I had to visit my astrology site, you know I like the Moon stuff so(hit the short term update) http://astrocycle.net/Breadth.php. As you can see on Astrocycles chart, we have a little downside left to the channel, and he has Jan.6th, not sure why? but its the quarter moon, we just had a full moon on Dec.31http://aa.usno.navy.mil/data/docs/MoonPhase.php  and that could have been the High of the whole move up!  So, if there is anything left of this move it should become interesting..."R" your turn date is  Jan 11th, I had a broad range turn bewt..dec 28th- Jan.5 th area...so we are not that far apart. The problem is if we continue up, we are probably looking at close to another 30 days give or take a few New moon Feb 14, Full on Feb 28, .. 

then it brings me back to the Chart.....

down a bit and then

and then back up twist and down we go.... Supports could get tight...but I so far the channel has held..it must break the channel by at least 15 points for me to really dive into the downside. Check out the latest article I found on  The Market Oraclehttp://www.marketoracle.co.uk/Article16170.html I realize most of his charts are days off, but his indicators are all in the same camp as most of us are, the Down Side slide is nearing.
Now,   check out TBT, the call is on, and the call is on the $$$$...they both look very tasty....let me know what you all think....OK C, and R,  I think they have potential....I gave up on Coal, it looks dead to me right now... " A", seems to not be around much, not sure what is up with him.????  Miss his views and I know you all do too. ....hope all is well in his camp...OK lets make 2010  our Year to Shine.....later L>