11/03/2012 Weekend Update

[Cobra]

Begin with institutional accumulation distribution chart from stocktiming. I still see no divergence on institutional distribution, so guess the selling isn't over yet.

[Cobra]

Smart money covered a lot, so now this chart may say nothing.

[Cobra]

Nothing special on AAII and II.

[Cobra]

despite not so bullish feelings recently, but the weekly charts still look bullish, especially DAX.

[Out of Bounds]

Thanks Cobra.

[Cobra]

Thanks Cobra.

Strange, where's everybody today?

[barabaszek]

Thanks Cobra and greetings from Poland

[uempel]

despite not so bullish feelings recently, but the weekly charts still look bullish, especially DAX.

Yeah, DAX chart looks good. But let's look at it differently, let's check out DAX/USD and compare it to SPX. I'm not sure if this evaluation meets applied logic standards and I don't have time to check it out with MIT finance guys, but let's assume the chart does make sense It shows us that DAX was stronger than SPX in the 2006 - 2011 period, but 2012 it has been losing its edge

[uempel]

Thanks Cobra.

Strange, where's everybody today?

Everybody queuing up for gas

[kongen]

Uempel, isn't DAX already priced in USD?

[Al_Dente]

Hello weekenders

It now appears that everyone and their Uncle Bob on the net expects the same AAPL support zone: $570 give or take +/- 10 points.
So we should expect the exact opposite…whatever that means…….
At least we know where buyers might be comfortable stepping up to the plate
The waverider daily renko on AAPL shows the lower lows

And the default ATR-14 daily renko going back to 2008 sees support at $600 and $575 and $525. [AAPL closed yesterday at 576.80]

PS: Hello Poland
Also, did everyone do early voting for their favorite candidate today: http://stockcharts.com/public/1684859

Bobby: http://www.youtube.com/watch?v=HvD5cW98 ... re=related

[KeiZai]

Thanks Cobra.

Strange, where's everybody today?

Everybody queuing up for gas

I will wait a week or two

Big pic (old one)

[Al_Dente]

ps: AAPL
I’m GUESSING that the short-term shorts have stops in the $603 zone, and the intermediate-term shorts have drop-dead stops near the $615 zone
And a strong bounce could get violently squeezed
[all guessing]

[daytradingES]

Weekly Review of Gold
In this week I review scaling in.
We have attained the target set out in the first video only 4 weeks later.
NTA
IHIH





Review 5 for week 2 Nov 2012
http://screencast.com/t/KZNhdIVvqLf


--------past reviews --------
Review1 for week Oct 6 2012
http://screencast.com/t/8LiQf7SR

Review 2 for week 13 Oct 2012
http://screencast.com/t/ytLLifIa

Review 3 for week 20 Oct 2012
http://screencast.com/t/1xW7vXnMK1

Review 4 for week 27 Oct 2012
http://screencast.com/t/GkimnZnFAg

[daytradingES]

my brother passed away Wednesday evening.
conventional medical treatment all the way.
Cancer spread like wildfire once he had his first chemo and he's gone within a couple of months.

I would like to thank those that gave support.
A special thank-you to those who prayed for him.

[KeiZai]

Weekly Review of Gold
In this week I review scaling in.
We have attained the target set out in the first video only 4 weeks later.
NTA
IHIH





Review 5 for week 2 Nov 2012
http://screencast.com/t/KZNhdIVvqLf


--------past reviews --------
Review1 for week Oct 6 2012
http://screencast.com/t/8LiQf7SR

Review 2 for week 13 Oct 2012
http://screencast.com/t/ytLLifIa

Review 3 for week 20 Oct 2012
http://screencast.com/t/1xW7vXnMK1

Review 4 for week 27 Oct 2012
http://screencast.com/t/GkimnZnFAg

Thanks daytradingES, really nice profit...I am glad to see your trading is going well for you.

here is my gold, close to my buying area

[Xian]

Hello weekenders

It now appears that everyone and their Uncle Bob on the net expects the same AAPL support zone: $570 give or take +/- 10 points.
So we should expect the exact opposite…whatever that means…….
At least we know where buyers might be comfortable stepping up to the plate
The waverider daily renko on AAPL shows the lower lows

113wkndaaplwavy.png

And the default ATR-14 daily renko going back to 2008 sees support at $600 and $575 and $525. [AAPL closed yesterday at 576.80]

113wkndaaplatrb.png

PS: Hello Poland
Also, did everyone do early voting for their favorite candidate today: http://stockcharts.com/public/1684859

Bobby: http://www.youtube.com/watch?v=HvD5cW98 ... re=related

Al, what's your plan for AAPL, if you don't mind me asking? Looks REALLY oversold on the weekly stoch and let's not even talk about the RSI. Plus, the big red volume bar on 22 mil shares yesterday. However Cobra says selling surge not big enough to qualify as "exhaustion" and I cannot question that.

News related, we could see movement in one direction or another based on numbers of iPad minis sold (or not sold) opening weekend.

I agree that EVERYONE is waiting for 570-560. But it was like I was telling Mick just the other day....

http://www.youtube.com/watch?v=2C2W_O9BX4g

[KeiZai]

my brother passed away Wednesday evening.
conventional medical treatment all the way.
Cancer spread like wildfire once he had his first chemo and he's gone within a couple of months.

I would like to thank those that gave support.
A special thank-you to those who prayed for him.

I’m sorry to hear about your loss DT may he rests in peace. Please accept my condolences to you and your family

My thoughts will be with You in my future prayers. Take care my friend

[Al_Dente]

my brother passed away Wednesday evening.
conventional medical treatment all the way.
Cancer spread like wildfire once he had his first chemo and he's gone within a couple of months.

I would like to thank those that gave support.
A special thank-you to those who prayed for him.

dtes: I am so sorry for your loss
David Gates wrote this song for his father
I offer it in tribute to your brother
http://www.youtube.com/watch?v=1pfTfMoR ... re=related

[Xian]

Hmmmm.....

http://www.cnbc.com/id/49662929

Debated very heavily with myself weather to even post something even as innocuous as this, but it seems between now and Wednesday the time may be right— may be necessary even.

If y'all want me to take it down I will. I'm ambivalent about it, that's for sure.

Point being, as relates to markets is uncertainty. Heading into weekend it was pretty clear O would squeak it out in a photo finish. But faux outrage over "revenge" may once again muddy the picture. I don't have a tv so no idea how this nonsense plays out in the more hysteric circles (rhymes with Lox)— would love anyone's insight on that matter.

If you are following this election, the biggest threat to the market would be O (or one the outside chance of Romney) getting less that 300EV... or the deciding state(s) being won by a margin less than provisional ballots cast. Either way it MUST be decided Tuesday night or by market open on Wed. If everyone starts suing each other— well, it doesn't take genius to know what that would do. If there is no decision come Wed 9:30am EST there will be blood.

Can't wait to get this and the cliff behind us. Get back to what matters: Making Money (and saving the whales or some sh*t), but mostly, making money.

Try to forget about who you want to win and position yourself accordingly for the most probable outcome. At this moment most probable outcome is O winning. Don't think any polling can accurately reflect "revenge" by tues am— so, it's anyone's guess if that nonsense moves the needle. Please know that a 1.5%-2% move in polling would shift the race to Richie Rich. 2% over "revenge"? Stranger things have happened.

4th quarter, 2 min warning has sounded. Rom is out of timeouts, down by three and deep in his own territory.

GL