03/01/2012 Intraday Watering

[SWalsh]

here is a chart i see. i think he is using t-theory swalsh is following.
i don't know the author. following the copy-left rule, i just know his id is abq trader.

http://screencast.com/t/XMeLT43o

Myself, and a friend who showed me this method 2 years ago, have a number of Ts hitting in here. I find it amazing because the mkt will usually at least pause for 1-2 weeks even if they will not be validated, or turn as if looking at the sun's false image bouncing off the horizon as it is setting and suddenly it drops.

There's no shortage of cheerleaders saying, "It's Different This Time". But in reading Rogoff and Reinhardt's book of that title, I see why they were John Templeton's favorite words for knowing when to get out and wait.

[soku]

Ok..how much longer before this bearish move kicks in..I have some hedges to sell that have been protecting my trapped shorts..My GMCR was not one of my trapped shorts that one turned out good at 3 point gain.Have a few day trades for breakfast $ but over all it has been a slow Feb. and boreing.Got a list of good shorts but to earily to post them.SOKU did you jump in on my coffee.

no no, that's my coffee since i am trading it regularly for quite a while.
i did trade yr soda for earnings and got couple coins yesterday

add: forgot to mention, i have couple puts on yr pet. hoping to see south of 100

[Petsamo]

many Ewavers have trouble agreeing on what has happened

Tradeyourwayout.com has been looking for a crash since January. I don't see a crash ...

[victorm]

Even spx is + 7 TZA not selling too much, traders don't trust that move higher...

[johnnywa]

triangle text book target. info only.

138.20 seems a bit extreme but if you say so i will take it

[btran874]

Wave 3 up from 1368 80% chance. Wave B up of yesterday's decline 20% chance. Place your bets ladies and gents.

[knurbs]

Look's like it's getting ready to role over...

[waverider]

AAPL, looks like it's done?

[KENA]

FYI...A little strange but info from stocktiming shows that Institutions have been buying less and selling more for the whole month of FEB..The chart buying and selling will be crossing soon and this will put them in distribution.These guys know more then us.So lets wait.

[shumushu]

A real simple chart, Imo down and possibly fill the gap before going up again. Who knows, bulls might just tell to F*** off and take off. Internals are stronger than usual today.

[KENA]

About 50 cents more up and the mkt will be at yesterdays hi..Then what.

[victorm]

many Ewavers have trouble agreeing on what has happened

Tradeyourwayout.com has been looking for a crash since January. I don't see a crash ...

Petsamo, hopefully you didn't burn yourself with those stuped UNG...

[SB73]

Cobra,

Very rudimentary look at your chart last night, but it appears that if today's high exceeds yesterdays bears are dead again. Whereas, if the high is lower, then bears have 50% chances. Do you read similarly?

[fehro]

chop... blue triangle? break up target red channel. or green bear flag?

[SWalsh]

Thanks for the comments. I don't really trust EW maybe because I have mainly studies it over the last couple of years and can't seem to get to any conclusions other than there are no conclusions.

Oh I think it works, and I know it worked quite well for 20 years. But I need to see that the HFT/Algo activity is low, else I see patterns that were only seen previously in thinly traded stocks where patterns could not be made due to manipulation.

Since that activity is rarely low anymore, it's not reliable. R.N. Elliott discovered a movement that is literally tied down to your chromosomes and out to a spiral universe - the Golden Mean (1.618) works throughout nature and the market. But if you are overwhelming the public's hope, fear, and greed with computers, then one should not expect it to work properly as those emotions are dwarfed and exploited.

[SWalsh]

GS breaking out?

GS.png

They must have the only copy of the Breibart Tape.

[Cobra]

lunch time, will be back. a consolidation here is good for bulls.

[SWalsh]

many Ewavers have trouble agreeing on what has happened

Tradeyourwayout.com has been looking for a crash since January. I don't see a crash ...

Just January? PFT! There's a guy in, I think, Taiwan named HumbleStudent with a membership to join who has been calling for it since October. He had some "discoveries" that assured it. I haven't seen his opinion this year, but he was uber bearish and saying COLLAPSE!

Is it at all possible that the banks have a quid pro quo and as long as the bias is up it's "hands-off"? When the former head of the NYSE says they are parasites and to rip them out, and the video is gone inside of 24 hours, who made that phone call?

[Petsamo]

many Ewavers have trouble agreeing on what has happened

Tradeyourwayout.com has been looking for a crash since January. I don't see a crash ...

Petsamo, hopefully you didn't burn yourself with those stuped UNG...

Where were you, that you didn't warn me?

[TWT]

TVIX: It is a tedious move but it is corrective, therefore I expect higher prices ahead

(thewavetrading.com)