Interesting day?

Ok, everyone, GDP sucked as predicted. We have been waiting for earnings season to end, it just makes emotions ride like a wild bronco.

R, and RK, and anyone else.. I have been told about truncated 5th waves on more than one occasion. My personal experience over the years of chart reading, has given me an idea. I honestly do not Believe in Truncated 5th Waves...... Now your wondering why? My first book that I ever read on trading I got at an auction in a pile of books that I paid 50c for. I tell ya, It has gone down in history ever since as the best auction purchase I have ever made.  Fibonacci Applications and Strategies for Traders...by Robert Fischer.  this box of books also contained several other expensive and valuable books that helped me on my way to the beginnings of my trading experience's..  I studied and studied and researched what this was and that was.. you know we still do it today... but all truncated 5th waves just lead me back to Mr. Fischer, there are no truncations...WHAT!   Waves 1,3,5 are ending waves in up trends and down trends.. but corrective wave are A,B,C's or I also call them 1,2,3 .   Do you see what I wrote.. inside of a 3rd wave we have 5 waves.. and so even though we may not show that so called 4th wave move, we still had a 4th wave move  inside of the 3rd wave,  Even Prechter says to only trade 1,2,3... let 4 and 5 go.. get the meat of the potatoe not the outside skin... that was the key phrase after many yrs of fighting with 4's and 5's, sometimes there just doesn't seem to be one or both... but there is ..contrary to what we have taught ourselves or read in most of Prechter's books.  The other fasinating book that I just never have liked but the more I pick it up the more I am beginning to understand what this nut is saying...Neely... most every move is a triangle or type of triangle move, they are small, they are med. and large, and sometimes Ex.Lg.  but there are alot of triangles. So, there are beautiful Elliot patterns and there are ugly ones sorta like we just saw.. but wks, mo's, and yrs later we look back at charts and go ...OH. man, now I see that pattern...have a great Wk end..>L

Direction's to Bear or Bull Pen Please?

OK, some lucky Trader out there today made some $$..  "R", congrats.. nice stock pick by the way IRBT, up $1.35. Nice very nice. I still like your pick, butttt it could have made its high.. I think that Tomorrow will tell the tell for Bulls Vs Bears.  The nice thing about our Mkt. system is that no matter what happens we usually always have that scenerio going on somewhere in the system.. stocks going up and some going down.  Now to Tonights feature Presentation...    R, and RK,  and any other lucky viewer out there in Cloud space we are in a trading range that can of course go either way... Hence Tonights feature title!  $SPX is stuck between 1113 break it we go up.... 1090...  break it we go down... its just that simple.. Annie get your Gun... have your trigger finger ready, the fight is on.   Joeseph Russo, is one of my favorite Elliot wave guys, I do not talk about him because his articles are just usually short but his charts speak wonders at times so he updated some charts over at Stockcharts.com  take a look, and here is his article to boot.. have a great night.. whatch those supports in the morning..along with GDP later>L   http://www.safehaven.com/article/17520/batter-up-game-on               http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID676791

Topping In the 5th!!!!

Ok, Hope you all had some time to check out the $VIX..and maybe the E-mini's.  WHY?  well opposites attract normally don't they?  I feel that we just finished a possible Wave 4... and if that is the case.... good old Mr. Vix still has a wave to go.. so I had you look to get Prepared for the final move.  #5  this wave could be swift and to the point.. it started yesterday at the end of the day.  The Resistance levels still stand that I posted the other day...the only question is do we go to 1131 ish and be done or do we go to the 1150ish area , or 1250ish area.. Pug had 1250 but, butt buttt  our 30 day turn window is about to expire and we should top by Tues. at the latest. and then have a turn down.... Now, that brings me to Mr. McH... He feels that we could be in a wedge or ending diagonal triangle, then he says he is not sure. if we did not just finish the D of 4.. and I agree with the D part.. but buttttttt he of course forgets that we could really be done.... and that brings me to EWT, they feel that we could be done.. but butt we already new that didn't we.   So, lets go with the final 5th wave.. all we really have to do is make a new high even by a small fraction.  Jobless claims are due out in just minutes. I have a problems with a few things... 1) the s/p and dow are way off with each other, price wise..  the Nasdaq does not looked finished. The $RUT looks unfinished as well... I really do not feel that we have been in a Diamond formation or pattern either... today and tomorrow are very important for these answers... up or down,, In 8 min's we may have a good direction  until then...>L

$vix check it out. and ES..

OK, VIX looks very interesting and the most was the E-Mini's it broke 1100... not by much but it did break...  the vix looks good right now.. so take a moment go check it out.. I have to run errands tonight, so I won't have time to update tillmorning... OK>L

Leggooooo's!

Do you like to play with leggo's? The market feels like it to me at times... we build we disasemble, and so on.  So I need a chart but have no time...  hopefully before the opening bell OK...  I just want you to know that I am not the only EWT er, that has made comments about the mother ship, and how bad they have been about calling this mrkt.  TK at the slope had made one, and promptly removed it from what I see now.. how funny, he posts their charts every now and then.. don't Piss off the big boy's TK..LOL!   OK  what I see is that we could have topped in Wave 3 at 1121, and we are currently trading out a lovely triangle of wave 4.. so we could have finished this small 4 and could go up in the morning for wave 5. but my indicators are showing we still need further correction, but if we do not.. first target is 1131 area Ok,, bear support still lies at 1100... now in old EWT fashion we have met all criteria to take a dump from here... don't get excited I know you looked at the training video's  so... I still say we go up to 1131 drop to 1113 area.. then back up and down in larger degree wave 4 this could continue too R's 8/17 area .. or till Sept.. then final 5 up to 1150 or higher... some are calling around 1145ish.. who cares at this point.. lets get it over with.. good time to go on vacation is you feel like you need a break... so will try to get my chart up or maybe mr pug will post again and we get a sneak peak of what he has till then...later>L

Videos worth reviewing!

These videos are great for beginners..  will update in a few.. and Guys.. No Boobie comments!  LOL>Lhttp://www.youtube.com/watch?v=K_7JrmF90ek&feature=player_embedded

Earning Season Positive All "Around"!

Well, out I went yesterday, totally into cash, except for the few stocks that I have been holding for awhile now.  MNKD, ARNA, and ABK.  Now 2 out of 3 is not bad.  Alot of rumors floating right now, and that is making the people sitting on the sidelines edggggggy!  For a Bear, well, I lost all and I mean I lost all of my profits that I had worked hard for!  I am not upset though. I tell ya alot of these moves in the past yr have been well, nuts!  and thats great. I will set myself up for the 1250 area that I had called a while back.. and guess who else has my old #'s.. Yep PUG!.. he posted again this morning over at HOB's... so I really have nothing to say but Happy Trails and good trading to all of you today.. looks like a real positive open and all we can do it try,try again. This is the name of the game. check out pugs chart.. it says it all.. EWT had a horable update by the way. They really never said much just hang in there we are going to fall sometime!!!  I am leaving my membership for the 3rd and final time, I usually get better advice from a box of Cracker Jacks  I am sorry to say.  McHugh went totally bullish on all signals.. thats why I can't argue with Pug at all, most of the Support and Resistance levels are still standing from yesterday, do not worry if we pull back late today or tomorrow.. I am looking for a retrace of some sort by weeks end... I do have turn date on Fri july 30... also Historically first wk of Aug is bearish... and if my 30 day top and bottom is still ongoing.. we should top On or around Aug 2nd... could we make it to 1250 by Mon?  hey they won't stop trading if it goes up do they...LOL!  I love our rules.. makes absolutely no sense...later>L

Bulls Vs Bears?

OK, did you stare :)) did you have coffee and stare?  maybe a beer and stare?  Well I have had a few pots of coffee and sat and stared... at the left shoulder for several hours actually figuring time/price, distances up and down.. it is interesting 
Let me give you some #'s for the start of Mon. compliments of Smart Traders site  7-26 $SPX  resistance  R3=1119.58  R2=1134.60  R1 1118.63     sorry that was weekly Resistance   for Monday its   R3 1119.58  R2=  1113.94 and R1 1108.09   Support #'s for Mon are  S1=1092.45  S2=1082.24  S3=1076.60   

There is just a few comments that I forgot to put up when I first put this up...  Volume is light, very light.  So, my buddy I trade with is very Bullish, hence forth, I am a Bear at heart. I  can swing with the charts believe me, but I like VOLUME, so do we go higher...sorry this time its a flip of the coin.. but big moves always happen when volume is void. Higher is probably in at the moment.. but, we are oversold on my 5min chart.. so we start off higher then turn lower late morning... there is alot of good stocks giving earnings before the bell and after... I am jumping out if we go higher by noon.. I was asleep Fri when the mkt took off.. so I was not able to jump out on Fri like I had told all of you to do.. but I will today.  Good luck, to all of us, but as I have always said.. if you are too scared of loosing your $$ just get out.. best move anyone can make.. I just try to say it the way it is. Think positive during these kinds of moves.. hard to get too upset anyway these days...LOL!  good luck today. >L

Check this out.. my own Creation!!!!!!!

Can You dig it!  I finally after all these Years, not months Years figure out how to post MY OWN CHART!  Haa Haaa..... I pat myself on me own back!  Hee hee.. Now only a few of you out there know that I am totally almost Tech dumb is the only way to put it.. So just look at this chart.. stare at it.. drink and stare at this chart.. have coffee and stare again... just STARE! Darn it... Look how long it took to trade out from 99 to 03... this is a year that ends in an "0", If this pattern continues as I suspect... that lovely Diamond that Pug has drawn and this Longer term Diamond that is forming from what I see.. we bounce till next year, then do the Lipton Tea Plunge in 2012.......just something to Ponder.. I need comments.. my mind is bouncing.. kick your thoughts at me   E-me with your charts.. I will post them..  thecattrader@gmail.com...   till tomorrow.. >L

Nothings changed....unless we fall past 1056...

nothings changed unless we drop a good bomb OK. will update this wkend early.. good luck today>L

Wow..!!!!

I think I should take my own advice and jump out of the pile of shshshshshtttt.. Wow, I am just sort of baffled... typeless.. there is only one thing to say to all of you... If we break 1100  we are and will be bullish for the rest of the month... good luck today..>L    Pug posted this over at HOBS  

morning all...

Ok, 1110 on S/P  should form resistance if we break that humm 1040 area.. the more I look at this whole scenerio I want to kick my..own. aaaaasss  if you know what I mean... The other day.. I said this could be a B wave of the Larger degree 2nd wave UP... and that if we did 50% retrace we could turn and go up.. I know I had that in one of the updates.. and we did 50%  so the ? is where do we go from here.. well, today could be a quck down trend after the open.. probably take 10 15 min. to let this wave trade out then we fall.. we could be oversold on 60-min. chart... the sub-minuette wave will be quick.. but again 1100 break is the key... but that 1150 area could be where we are heading to end the C wave for wave 2.... sorry I did not catch that .. I feel bad..  here's a chart from Waveprinciple.. he hasa nice channel drawn  where he has b? in green I think is the beginning's of wave  C of wave C... just preserve capital. at this time if you are uncomfortable with these swings... I sent a friend a chart the other day.. on the crash of 1929... in that chart.. the swings where incredible..before it really let go.. you know I always say its like a Yo Yo.. up down up down.. but thats the topping process.. so.. I know I am a hurting bear this morning.. I got shot with a 410ga.  yesterday.. but its a superficial wound if you ask me.. My 30 day up down moves are currently back into this move... so a top at this time.. will be around the 3rd of Aug.   Remember the Cardinal Climax is in effect, and it affects emotions deeply.. so stay in control...during this period. research it, very interesting... have a good day.. my apologies..>Lhttps://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhyd3l-jSRAoXoWkf64D6OEZqxQ5xipBXDO1PszVkmoub8SIB1nJzfgFRe-LKtQMDgUHcCTWmNs56adirG37130_iuB-cCR4Og4DrHSz6g-UtmC8mwLX84oiF83-tw-LUgPnzDI6_zW38Y/s1600/SPX-60MINBULL7-20.png

My Worst Enemy~~ Me!

OK, well Me again, I tell ya I swear this is a dream... my worst enemy is me. Again, asleep for the finally of a weird but long drawn out battle between Bull and Bear.  I had to shut my computer down today, I got cyber attacked at the worst time.Not once or twice 5 times. I have never had that happen before in all my yrs of being on the internet. So, that did not help my seeing my charts this morning.. but I am glad that all of you knew that 1081 was a crucial spot and the Bulls feel in control again... but to awake to this makes me wonder is this still a dream... LOL!   No, guess not... my only problem is we bounced right off my channel lines and it really looks like we did 5 waves up from the low of this morning.. God could this be a Bull trap now? I tell ya everyone, this has me stumped right now.. I do not have time tonight to go over everything.. gotta get ready for work, I will think and try to have something up by morning.. P... was ready for this. but remember, that move could have been a 5 th wave of wave 1 or yest just before close we could have done an "a", then b this morning and a c riht now that is very close to finishing near my channel.. If you got out of the mket.. its OK,,, I would rather your safe than sorry, getting burned naturally does not feel good.. and when it hits your back pocket sometimes that hurts worse.. this is the demons that fight us back and forth, good and evil, we all have them. Do you have the stomach to go on? shake it off and start over:) easier said than done at times ehhh... enough of the coach stuff... still remember if we are in the "c" of two of minor wave 3, we have to break 1100, I will try to update as fast as poss. tomor. morning.. have a good night, hang in there, Bears survive alot longer than Bulls ....later>L

EYE of The STORM~~~

Now we have to work to get our time frames correct at this point and time... my scenerio that we could have done a Minute or Subminute "b", I think played out.. then today we where in and still could be in the "c" of that corrective but declining pattern.  The short term indicators on my charts read that we are going up.. but IBM might have burst that short term indicator apart.. and besides that.. if you look we did 5up, ended 1074, fell 5down to 1068 and up 5 these are all on Subminute scale.. its like looking at at needle in the hay... we need to keep the bigger picture here... Please.. this is the most important way to keep your head on straight.. this includes me.. I get caught up in these moves myself.. and forget I am on a 5dy 5mn chart and shewww I think the sky is crashing in, wake up from the nasty dream and realize . hey, Flipper..Yea.. we are just day trading chick.. get back on that 5yr chart or 1yr chart.. Look, Ok, got it.. LOL!  I do it, I know even the best of traders do it... Its mind bogggggling at times.. Its the MATRIX re-lived!  Hook me up Scotty!... Ok, enough go see Inception.. what a great Movie.. back to the charts..  Earnings are pulling big fund traders apart... of course they are no good, we have reworked every law of business practice there is, we laid employees off, lowered earnings almost as far back on some co's to the 90's, took the hit on the 07 crash, and barely meeting our whole new co earnings again. Or missing like I figure the majority will do. IBM, GE, wow... just a start...the list will grow like the banks that are dropping like flys.. the only thing is they can stay in business a little longer, how? they cut workers again, and again,see  its like my bus. I have no one to cut, but myself.. so what I do is what I do.. but my bus. was founded on the worker bee not the guy in the tie and suit that drives the Beemer or Mercy... so my sales are sad to say the least.. if you read earlier.. sooooooo lets revue..Oh RK... McH.. never updates till 1am.est. so will update in morning.  OK EWT, here we go...  The mkt is pathing  its way out in subdivisions..getting ready for big decline next leg should go down big(meaning from subminute to minor) very fast paced(Wed 21cardinal climax starts thru Aug 21st) brisk, and last wk high should remain...OK, 5 wave decline1061 they have labeled as Minuette wave 1...  now Yo Yo releasing pressure.. resistance now at 1181..(if it goes past would violate 1st Subminuette wave down)  they are saying that short term charts show a complete 3 wave move up..from this morning..next leg down will be Minuette wave 3, of minor 3 down.   OK, so if we go higher than 1181 we are still in that 2nd wave correction from the larger wave we just fell from... got that... let me know if you have ?,s. Ok.. gotta go check out other sites.. but they are pretty much right on with what I had last night..  and my small update today. R, I still have 10% of my port in cash.. I have been holding  ARNA for awhile now..sold half the other day..but this stock still has wings to fly...but be careful if you like it.. she is moving fast..daily.. also bought 15% more to downside today at around 2:50est.t  I had a buy set in case I stepped away or was still knapping...LOL!  IBM is taking it hard....Just like the Apple on the tree... if I had traded options I would be well healthier in my pocket thats for sure... OK if I find anything else out that is more intersting than myself.. I will let you know.. but I can hardly deal with me...later>L

SHARP as a Knife~~

Hope you all enjoyed my venting earlier.. maybe not so lets get to the heart of it all... Could we have started Wave #3... Yes, and No... We would really need to break 1040-1032 on S&P to be in 3, But we are actually sitting on resistance right now... E-mini's broke that earlier.. but thats not the S&P...I am still looking for falling action to happen till the1055 and  1044 area.. that is another resistance area on my list... that is the 61.8% hit.. So, that leads me to my 2nd Scenerio... could be be in a "B" wave of the C that we just thought we finished... we have to break 1054.99(1055 above) and that is around the 50% level of this fall... we have to break it.. or we could rally, now the rally could be in two forms.. thats the "Real Problem right now", we could be going back up for wave 2 in a Minute to Minor degree wave 2 of 3 or.. on friday.. we did a series of high,low high low right before the close.. I have a count that that is a possible wave B of 2, in bear mkts B's tend to fall below the origin of A., Just the opposite in Bull market's.. remember my upside down chart.???  OK, so.. that could be a sign that wave C of 2 or an extention of Wave 3 right now is about to happenin the $SPX.. OK.. so that rally could be just 5pts... to the upside usually 23-38% retrace then the market will gap again lower.. that will be the start of 3 of 3 of just wave 1 of Minor or Intermediate wave 3 at that point... I have not had time to make an accurate count and my updated EWT does not give me a super count either.. nor does McH.. They must of all been worn out on Fri. their updates are horable considering where we could be right now.. McH.. is the only one now that I am reading his $SPX update that has my B scenerio going to 950... personally never thought of it going that low.. I will have to research that.. Had a terrible storm rip thru earlier after I posted my hot air.. so I am just reading as I am typing and thinking... sorry.. I rely on my own gut but its nice to have Pro's on your side. So, he is saying the same thing I am just at a larger degree.. You see I still think its at my degree we need to worrie about with the B wave theory well, for right now... but remember B could turn into 2 of 3.. OK, so right now.. unless this thing just Plunges... we know we have some areas of resistance to deal with.. I am sure that most of you have other sites that confirm most of what I have typed.. Just remember... thanks for stopping by.. good luck will try to update thru comments section tomorrow. But I am back on my old schedule this week... so updates will be in the morning or late evening... later >L

Wee Bee...102sq.ft. ???

http://www.tumbleweedhouses.com/houses/             Granted.. there are times we all want to go live in a hole, but these little houses are better that that. Can you get over the detail that this man has done in these little spaces... Now Bigger is better right, not right now. Check them out. Its like saying.. we are going to cut your house into 4 sections... you better know what you want to wear, what little food you can store, who you want to invite over, only 1 person at a time OK,,, it would be great if you where single wouldn't it, or even if you are married, you could still save thousands and still have your home away from home!..LOL!  I love it! the idea is just a step ahead of everyone, but backwards isn't it?  Little house on the Praire style. How did they do it, they just simply had no choice did they. Life was hard in the 1800's all the way till really the 60's. Technology has driven the work place from Industrial to Tech city!.. every gadget under the sun..cell phones, talking cars, talking houses, credit cards, convenience after convenience.. hummmm  what would you do if the power went out! No fast food, no grocery stores..no computer's.. Just wanted you to start thinking a head.. Today was a wash out too.. rained my event out.. sales where just horrible and the economy is really starting to effect my small business's big time. I am about to go out of business at this rate so I know how it feels to a point what the small bus. owner who lives off of his hard work is going thru, he's about belly up unless he saved for these rainy days that still lie ahead....  4 more Banks went under on Fri.  Banks are raising rates again to cover their ass's! this time its not only card rates its your savings accounts and checking acc'ts.. get ready. That little piece of Plastic is about to make your bank Billions.. and they are laughing at you.. so back to the basics we go.. you will have to carry cash, because everytime you use that plastic convience card they are going to charge you oh..5cents.. maybe more or less.. who cares most people use it twice three times a day X 's that by millions or billions of people and you have millions to billions of $$$ every day.. anytime bank rates are going up too.. so don't leave home with out cash.. the days of free checking and checkcard services are gone... American Express is Hot again!!!  reminds me of the 70's..LOL!  I just saw Hawaii Five O... WHAT! they are going to destroy my childhood aren't they I loved that show.. but everyone is home right now whatching the grove tube again.. they can't afford to go out hardly.. a movie is $10.00 per person.. for a family of 4 that is $40, popcorn $6.50, soda's $12 commmmme on.. who's making $$  Netflix... and I just read an interesting article in Bloomberg Business.. Now mind you it is a few weeks Old.. I do not subscibe to Magazines.. I go to the Half price book store and buy them for 50cents a few weeks old.. Sony has put the ability to buy movies out of your XBox 360 Now won't that be something...I see Sony and Google putting a hurting on Mr. Netflix in time for Winter...So, if you know someone that owns the NetFlix  they might want to get out on the next ride higher.. well I am not sure when that will be..but.. get ready to pay for about everything you want to watch... is the way I am interpreting the future of the web and tv.. between the makers and the bakers Public TV might be the only thing left...Comcast TimeWarner all of them are hurting.. If you loose your Job, whats the first thing you get rid of?  thats right.. Cable, Internet... you buy a laptop or an Iphone.. or you go borrow a friends... thats what I would do.. but Starbucks might be five bucks to me.. but free wi-fi  in your car is nice when I am on trips..LOL!  I still make my own coffee...I buy starbucks out of the grocery store.. yes I am as addicted to it as the next coffee nut.. shoot me.. I like good coffee.. personally I like expensive organic coffee's but its out of my budget right now...http://holualoaorganic.com/default.aspx   I hope they are still in business when the ball finishes its drop.. but then again maybe I can buy them out... just a thought.. I love Blue water.. never been to Hawaii.. heard its really nice.. but then again I like where I live, so why change? Thats for another day.....will update in less than 6 hrs... just had to get that shit off my..head..>L

Google Slides, out at 2nd base! Apple's waiting to be Picked!

I am extremely busy right now. Many things going on and of course they all hit at once. My vacation was a wash.  I usually get to at least play a bit, not this time, my trip got canceled last minute, but things happen for a reason. Today, was it. I was totally prepared for this turn! I had cleaned up alot of small running stocks that I had purchased in my portfolio..that left me with almost 25% of my portfolio available for that move on Thurs. that I had mentioned... A,B, C.  Now, we did have a high % chance that it would go higher.. but with Google and Apple leading the way for us, we got our start to a "3 of 3"start.. or my other thoughts that I will hopefully have time to update on before the opening bell on Mon. morn. check back then..>L

CAN YOU SAY A,B,C ?

Alrighty, we are finally on our Way to the Possible "3"rd  of 3 wave start. This is how I see it everyone.. tomorrow morning Anna on Hot Option Babe is calling for Upside to finish. late morning to early afternoon. and I couldn't agree more!  it helps sometimes to boost my lay out when a highly reputable trader like Anna, is calling what I see and what I have been saying for the overall big picture on this move that started back in April.  There is only "1", catch to the whole move by the looks of it and of course Hotchberg would spoil my party... EWT is calling that we can not Exceed  June's High of $SPX 1131.23 (I have that as topof A of 2 , B ended 7/1 and C is > so we are back to the call of 1100-1110 and we need to end somewhere in that area.. 78,6% retrace is at 1106.40.. rough figure... and that should end C of 2...or 2 of 3 of 3.  If it is the start of 3 of 3  Wow... this will get fired up fast...  So lets look at $VIX  above.. doesn't it look lovely.. it could have bottomed in a 2nd wave itself...so sorry for the late update I have to go check out some more sites.. and I might get the chance to edit before morning. so.. X your fingers for the start.. I am currently 60% bearish.. TZA,QID, SDS   later>L  Have a cup of coffee ready...  very interesting...  http://www.youtube.com/watch?v=UbaBM3pDer0     later>L

W.S.J. article...interesting..

http://online.wsj.com/article/SB10001424052748704799604575356840533734182.html#printMode

Rally! Really?

Good Evening... listen to this...  http://media.bloomberg.com/bb/avfile/Markets/Analyst_Calls/vqzDuVkqjh3k.mp3        >L

2 a.m.

Ok, yesterday I agreed alot with Mr. McClaren about the further upside, and we got alot of that move today to 1078..  I have had alot of time tonight to check out a few sites and read some current updates that I wish I could post but,  the best I can do is try to lead us thru their thoughts...and a few of my own as reminders of the possible A,B,C move that could still transpire!...  OK, EWT, boys are calling a short term top, that will lead us into the 3rd wave down, $indu has retraced 61.8% of minute wave 1(10,220).  It sounds good, but it doesn't looked finished to me, the only good looking part of the call is the H&S pattern that could really be trading out, with some more downside and another move back up we really could have that great looking move. and that is what one of my favorite guys was calling on the S/P that it still needs to finish a move down to finish 4th wave move, and he is looking for 1066 poss. low on the 4, and then upside move to 1095ish area. I like that call alot on the S/P, so did we finish just the 3rd wave...the ? again...Now is you look at the S/p on a 5yr,weekly, the H&S pattern was very close... so close it makes you wonder. also, notice if you have a 50dy ma, we are just hanging under that ma. Our Channel is holding but if we go above the 1105 area, we have broken it, and it would have to re-enter almost as fst as it breaks it... good earnings where out tonight, but Alcoa, laid off thousands to get that penny to beat the street... EWT's first article of business tonight was  a chart about trailing 12 mo. earnings.. they are not good at all. Earnings are behind stock prices.. so, today is going to be tense.. I also have a turn date today... Thanks and everyone have a good day..>L

WHAT A WEEK AHEAD!

To everyone.. I am really sorry that I have not been able to Update.. Work in every aspect of my life has been crazy please except my apology. The show I did Yest. and today, was a wash, Plenty of Old Equipment and Older farmers who of course are retired now.. I had plenty of conversations about the old days but hardly any sales,  sales this year are down over 55% from my previous years. Is it the weather or the economy, that is the question. Work, well, its going great, if  you do not mind doing two jobs for the price of one. Jobs are being combined, or in other words we break them up and add the day of one employee, onto three or four people to do, so that adds another hour or two to your job. Fun. but we have to pay the bills. So, I am really busy, and it could not have happened at a worse time with the Stock market about to Rally after a nice fall. So, I am still a bear but look what Mr. McClaren had to say On Fri. Morn....

http://www.safehaven.com/article/17427/cnbc-squawkbox-europe              

Where do we go from there?  Honestly its going to be interesting.  I flipped McClarens chart upside down, I like doing that to charts if I can, it gives the impression a different feel in my eyes.... and if you notice you want to look to the right... get back to the left will ya... Notice the Resistance over at the right.. around 1100  thats where I think we go and so does McClaren. What do you think? I have also noticed over the years that sometimes the way things go up is the way they fall...they mirror each other, maybe not 100% but very close.  So, are we going down further.. I believe we are.. and this move that we are in right now seems to me to be a "C", of wave 2, the only ? that I have is will it be just 5 short waves up.. which means we are very close to being done, or do we actually do an "A,B,C" move... 5,3,5  then we could move back to 1150 area... the mirror would not be wonderful but with the Bull sentiment growing according to Elliot Wave Theory we could go higher... so be on your toes. I will be.   I was supposed to be in Kitty Hawk flying Kites today.. but maybe next month I will get to go. Luckily I do not reserve rooms or rent condo's. Its going to rain anyway so I guess it has worked out good, I get to trade all week... Ok 'R", sorry about things.. oh and Pug went all pay so I can't see anything.. do you have his pay site?... I just can't buy everyone's updates, the ones I have are too much already for what I get, most of the time Nothing anyway. We seem to do better than most of them. Ok, again, sorry.. leave me your thoughts.. I have several scenerios in my head, but after I mirrord the chart, I think we already bottomed in wave 1, did wave A up mid June, dropped in a B wave  to bottom and now in a C wave up.. that could end at the McClaren call.  OK, this week is soooo important in that train of thought.. OK>later>L

Up or Down? That is the question?

Many camps are arguing right now on what direction the market is going in next.  That is a good Question at this point and time.  My count and my most of my Technical Analysis says we should be heading North.. or UP.. but my experience dealing with this type of wave and my ttttrrrruuussty MacD says... we are going down even further...  I have lightened up on some of my stock holdings, but still remain over 50% of my portfolio is Bearish.  I hold currently TZA, QID, SDS, I think that is enough.  I have been looking at on stock in the Nasdaq 100 that is ready to be hit hard.. and that is Apple.. that used to be one of "A's" favorite stocks... For many Apple holders they could retire at this point and time if they bought that beauty right.. it reminds me of my Microsoft days.. but Apple is getting OLD.. and they are becoming the Next door Neighbor to Microsoft. if you know what I mean.  Let me just say its that same old feeling I had with Microsoft back in its Hayday!.. Everyone owns one.. everyone is looking for more.. give us more.. but the economy is soon not going to be on Apples side.. the way things are going.. so I was looking at the possible way for my portfolio to short Apple even harder, and of course that lies with QID.. so I think thae the Naz takes even a bigger dump over the next 30 days.. I know that seems strong.. but Ihave yet the time to really sit and calculate out where she is going going...Hee ehhe.. OK, if you have the time.. do some let me know.. I also like the way the $RUT looks... I cleaned out alot of my TZA holding.. and I made a horrible blooper  with my trading.. I am not proud of at all... PLEASE do not get yourself in trouble like I did.. I bought TZA say thurs, then sold it Fri.. and forgot that the $$$$ had not cleared.. and forgot the new short rule.. so according to my brokerage.. I get nailed with two penalties.. and a caution on my account and if I do it again.. ouch.. I get shut down for 90 days.. now is that brutal or what... all because I got a wheee bit excited and forgot that day traders rule...that I am not a day trader!!!LOL!>>> bad girl!...  Just some advice so you do not fall into the same catagory!....  OK, I will edit this later to give some really good #'s unless some of you have them handy.. but 970 on s/p looks like stop 1 at this time... OK, going to play for a few hours...later>L