11/29/2011 Intraday Watering

[soku]

Mr BachNut / PLUNGE/ soku where do you guys find good info on DeMark? It's one thing I've never been able to locate a "tutorial" of sorts for. Thanks for any info you can provide.

demark wrote couple books. you can find some seminars online. he shows up on main stream financial tv. and u can take his live seminars which is very expensive.
BUT, imho, this guy is too left-brained. he is not a good teacher / presenter. he does not express himself in a good way that i can follow.

[Al_Dente]

The dollar, oy, the dollar…am sure you EW folks have read this, but I just found it, a history of the dollar/FED by none other than Prechter.
Save for later, it’s a long one in three parts:
PART ONE: http://www.elliottwave.com/affiliates/f ... cleid=1860
PART TWO: http://www.elliottwave.com/affiliates/f ... cleid=1860
PART THREE: http://www.safehaven.com/article/23096/ ... d-part-iii

“…Today, the dollar is a promise backed by a promise to pay an identical promise…. the truth is that since the dollar is backed by debt [government bonds], it is actually a credit, not money. It is a credit against what the government owes, denoted in dollars and backed by nothing. So although we may use the term "money" in referring to dollars, there is no longer any real money in the U.S. financial system; there is nothing but credit and debt….this …is…simple alchemy … in which the Fed turns government bonds into money….” [Robert Prechter]

GLTA http://www.youtube.com/watch?v=Ksa4VjKE3RY

[Cobra]

Cobra,

Also, one follow up question, please: Is it too early in the week to consider Friday's employment report and what it might mean in terms of a "pivot day"?

Thanks again!

I don't understand what you mean "too early in the week to consider Fridays NFP report".

Pivot day means, say, if we go up to Friday, and Friday is in red, then it could be the top. Vice versa.

[uempel]

Why would anyone need cojones to short?
I have reliable source to sell the rebound:

http://www.cobrasmarketview.com/2011/11 ... he-bounce/

Depends what the time horizon is. This bounce could add another ten or twenty handles. I see copper going up, DAX going up, oil going up.. The timing of "sell the bounce" ain't easy.

[Cobra]

So buy on the dip?

forgot to say: Target.

this kind of push up should be 3 legged. the very first pullback should be a buy.

Cobra, so does this mean the talk of "revisit the lows" is over as per last night's report?

Thanks

too early to say that.

[tdo722]

is it me or /HG hit a double top on 1hr chart? Can someone check?

[SB73]

Whoever shorts now is either stupid or he has cojones di ferro...

rr.png

I was just thinking the same, but the opposite.

LoL! Oh the agony.

I guess sometimes it depends on your time frame. If you are in the quick scalp mode or more of the swing mode. I have been in the scalp mode the last 2 days, but it is time for me to start considering the next swing and IMO it will be down. I do not think a measly 8 points on SPX eliminates the call for a retest of Friday. If we see a 20 pt move I will pay real attention, but for now the bounce is looking more and more pathetic. With that said, I can still see a 1215ish in the range of possibilities.

[Me XMan]

This week is Da Bulls week and I won't be shorting for sure.
They need this week to be a banner to lure money back.

[Cobra]

Just let you know, I cannot access Twitter now and cannot check mails sent to cobra@cobrasmarketview.com, so no response for awhile.

[tdo722]

What's the best ETF to short crude oil? I want to short this thing. It is doing a 3-pushup and almost complete with negative D at the top.

[joeynickels]

What's the best ETF to short crude oil? I want to short this thing. It is doing a 3-pushup and almost complete with negative D at the top.

SCO

[Mr. BachNut]

Mr BachNut / PLUNGE/ soku where do you guys find good info on DeMark? It's one thing I've never been able to locate a "tutorial" of sorts for. Thanks for any info you can provide.

demark wrote couple books. you can find some seminars online. he shows up on main stream financial tv. and u can take his live seminars which is very expensive.
BUT, imho, this guy is too left-brained. he is not a good teacher / presenter. he does not express himself in a good way that i can follow.

I wouldn't rely on his method without more experience or backtesting. I watch, though, because a number of large institutions follow this guy and act on this stuff. It is anecdotal and perhaps coincidental, but when the TD Countdown buy signal (not the Setup) hit this summer, it seemed to me that there were footprints of institutional order flow lifting prices after hours and the next day.

[Cobra]

as I said, pullback was a buy. now revisit the morning high so key time, bulls need a decisive breakout and I think bulls have the chance.

[tdo722]

What's the best ETF to short crude oil? I want to short this thing. It is doing a 3-pushup and almost complete with negative D at the top.

SCO

thank you so much. Waiting for the roll-over now. could be any minute now. who's with me?

[tdo722]

don't rollover now. complete the god damn pattern please.........

[MrMiyagi]

don't rollover now. complete the god damn pattern please.........

It just does not feel like it wants to does it?

[Cobra]

in any cases, you don't want to see a failed 2nd attempt because that's usually you Earth people give up, so this bar doesn't look good, we need watch carefully now.

[soku]

Mr BachNut / PLUNGE/ soku where do you guys find good info on DeMark? It's one thing I've never been able to locate a "tutorial" of sorts for. Thanks for any info you can provide.

demark wrote couple books. you can find some seminars online. he shows up on main stream financial tv. and u can take his live seminars which is very expensive.
BUT, imho, this guy is too left-brained. he is not a good teacher / presenter. he does not express himself in a good way that i can follow.

I wouldn't rely on his method without more experience or backtesting. I watch, though, because a number of large institutions follow this guy and act on this stuff. It is anecdotal and perhaps coincidental, but when the TD Countdown buy signal (not the Setup) hit this summer, it seemed to me that there were footprints of institutional order flow lifting prices after hours and the next day.

he is big name, especially in derivative market. his book on day trading options is my very first trading book. i attended his live seminar couple years ago. this guy is super fast super resourceful. when u talk to him u will feel thoughts and ideas are sparking. the bad part of it, is it is yr job to link everything together to figure out what does he mean. he is also super productive. he has new indicators almost every year. now it is over 30.

[uempel]

Internals
http://stockcharts.com/h-sc/ui?s=SPY&p= ... =245360380

Thanks Al, really appreciate your input.

[L_T]

Hmmm that guy doesn't seem to know what he is talking about with regards to the dollar or fiat currency in general. The dollar is NOT backed by government bonds as issuing bonds is a MONETARY operation i.e. to control interest rates and not a FISCAL operation i.e. to fund government activities.

I could go off on this subject because the misunderstanding of how a fiat currency works (and how it's vastly superior to "asset-backed" currencies when handled properly) is one of the reasons our policy makers at even the highest levels keep us pointed in the wrong direction.

Al Dente and fellow board members if you want a correct explanation of how our currency works check this out. Warning: this will take a few minutes to read and absorb.

http://pragcap.com/resources/understand ... ary-system

The dollar, oy, the dollar…am sure you EW folks have read this, but I just found it, a history of the dollar/FED by none other than Prechter.
Save for later, it’s a long one in three parts:
PART ONE: http://www.elliottwave.com/affiliates/f ... cleid=1860
PART TWO: http://www.elliottwave.com/affiliates/f ... cleid=1860
PART THREE: http://www.safehaven.com/article/23096/ ... d-part-iii

“…Today, the dollar is a promise backed by a promise to pay an identical promise…. the truth is that since the dollar is backed by debt [government bonds], it is actually a credit, not money. It is a credit against what the government owes, denoted in dollars and backed by nothing. So although we may use the term "money" in referring to dollars, there is no longer any real money in the U.S. financial system; there is nothing but credit and debt….this …is…simple alchemy … in which the Fed turns government bonds into money….” [Robert Prechter]

GLTA http://www.youtube.com/watch?v=Ksa4VjKE3RY