10/12/2012 Live Update

[ClarkW]

More for weekend forum but thought I'd post while thinking about it: New article from McClellan http://www.mcoscillator.com/learning_ce ... dium=email

[Petsamo]

sold WLT for 1.1% gain

[TraderGirl]

With all due respect to "Pretzel", I am not sure if his EW counts are correct...it doesn't allow for another low next week, so I have a couple of counts as possibilities...I think that instead of impulsing down, I believe we could be in a double zig zag...??

I am assuming we get new highs somewhere around January before we head down for good...

Edit: One chart give an impulse (5 wave structure) and one give a corrective zig zag structure...I am voting for zig zag...but we will see....

why are you assuming:
" we get new highs somewhere around January before we head down for good."?

Thanks

1. Until the line on XIV critical support is broken, I will not get super bearish...
2. Several Charts I have say another attempt up, whether a higher high or lower high I am unsure, but I assume a higher high..or double top...
3. The last two major corrections in 2000 and 2008 had 3 pushes up before a breakdown occurred..so far we have two in my opinion.
4. There was a critical reversal date on Oct 5-8th, it sent us down...there is another critical reversal date around Oct 31/Nov 1, I believe it will send us up

We will see what happens....

[Al_Dente]

NOT MARKET RELATED
Nobel Prize Watch:
There are joyous celebrations across China as Mo Yan is the first acknowledged Chinese author to win the Nobel Prize for Literature, due to previous winners having been written out of the history books. Excerpts from his work here:
http://www.nytimes.com/2012/10/12/books ... 2_20121012

Hours after winning, Mo Yan called for the release of the 2010 Nobel Laureate Liu Xiaobo, who had been condemned and jailed by the government.
http://www.businessweek.com/news/2012-1 ... ademy-says

The Nobel Peace Prize was awarded to The European Union for its efforts to promote peace and democracy in Europe, in the midst of the union's biggest crisis since its creation in the 1950s.
http://www.theglobeandmail.com/news/wor ... le4608140/

Earlier this week, Serge Haroche of France and David Wineland of the United States, jointly won the Nobel Prize in Physics for their work in the field of quantum optics, which may lead the way to superfast computers and "the most precise clocks ever seen."
And the Nobel Prize for physiology or medicine was awarded jointly to Sir John B. Gurdon and Shinya Yamanaka for their discovery that stem cells can be made of mature cells and need not necessarily be taken from fetuses or embryos.
http://www.cnn.com/2012/10/09/world/swe ... index.html

[MrMiyagi]

Reminds me, we still have a p-bar down to $140.70 from Monday, right? Also one up to $146.81 from Tuesday?

[TraderGirl]

With all due respect to "Pretzel", I am not sure if his EW counts are correct...it doesn't allow for another low next week, so I have a couple of counts as possibilities...I think that instead of impulsing down, I believe we could be in a double zig zag...??

I am assuming we get new highs somewhere around January before we head down for good...

Edit: One chart give an impulse (5 wave structure) and one give a corrective zig zag structure...I am voting for zig zag...but we will see....

why are you assuming:
" we get new highs somewhere around January before we head down for good."?

Thanks

1. Until the line on XIV critical support is broken, I will not get super bearish...
2. Several Charts I have say another attempt up, whether a higher high or lower high I am unsure, but I assume a higher high..or double top...
3. The last two major corrections in 2000 and 2008 had 3 pushes up before a breakdown occurred..so far we have two in my opinion.
4. There was a critical reversal date on Oct 5-8th, it sent us down...there is another critical reversal date around Oct 31/Nov 1, I believe it will send us up

We will see what happens....

Btw, I have a target for the Dow of 8,000 to 8,500 in 2014, that is what I meant by "for good"...

[Al_Dente]

yeah but not now look at this mess I don´t know how to trade it (except the falling wedge)
Thanks amigo where is btw our BOSS?

Yup what a mess
Here’s my take on XIV: http://www.youtube.com/watch?v=XSCJJkFg ... re=related
BOSSman is AWOL

I hope everything is OK with him and his family I don´t like AWOL´s he always says where he go

he's updating his blog so hopefully he's fine

[ClarkW]

Reminds me, we still have a p-bar down to $140.70 from Monday, right? Also one up to $146.81 from Tuesday?

Thanks Sensei, thought so, I just started writing down on chart so I don't have to ask you...but then I ask anyway to make sure I didn't write it down wrong

[L_T]

Safer to trade it stick by stick 24 hours across the markets. Got HFT's?

I got one of these; is it HFT enough?

I love that you pasted a screen shot of the forum on that old Commodore.

[MrMiyagi]

I love that you pasted a screen shot of the forum on that old Commodore.

Glad you noticed

[Jack12]

Safer to trade it stick by stick 24 hours across the markets. Got HFT's?

I got one of these; is it HFT enough?

I love that you pasted a screen shot of the forum on that old Commodore.

and why did I dump my ZX spectrum???? as Mr T would say Fullllll

[TraderGirl]

I love that you pasted a screen shot of the forum on that old Commodore.

Glad you noticed

Yes, that's awesome!!

[Petsamo]

The Nasdaq is green, fellas

[MrMiyagi]

[Harapa]

VIXies Update
VIXies (in M05 period) moved to the Sell side ~12:00 EST. Now this setup favors bears. STATs for last three closed trades (using SPY) +2.16$, +3.02$, &-0.48$.
EDIT: Time of signal corrected

[Al_Dente]

overbought but a sqz could get ugly

[MrMiyagi]

[Al_Dente]

VIXies Update
VIXies (in M05 period) moved to the Sell side ~2:00PM EST. Now this setup favors bears. STATs for last three closed trades (using SPY) +2.16$, +3.02$, &-0.48$.

Check this out boss
I got sell agree about 11:30 ET on 5min
Why the discrepancy?

[Cobra]

pullback as expected, now let's see if there's a 3rd push up. overall, not a strong rebound.

[MrMiyagi]

Monday morning panic selling?
What do you kids figure..... gap down and buy up Tuesday does not seem out of place.