Wait... because you have the same opinion as most right now and you've got some kind of magic Fibonacci line drawing tool, you're a lion? I just want to make sure I understand.
How I applied this SENTIMENT ANALYSIS = HERD collective instinct analysis ..... as recently as June 5, 2010 on the Euro in the Feedback forum in the thread below .... caught the bottom like a champion. Not bragging, for the next time I could be humiliated viciously, just proud to apply what I'm learning and to see it working just fine and to confirm and thank the MAN above aka Higher Consciousness or even God who fortuitously AND serendipitously caused me to bump into TA ..... hard work? yes, sleepless nights while learning, (most painful was elliottwave)? yes!! worth it? .. you're damn straight. http://www.elitetrader.com/vb/showthread.php?s=&threadid=168825 see page 5 for the several posts on Euro (EurUsd) - read them all to get the continuity .... but below is the main call on June 5 catching the bottom within a hair even on 60-min. frame EurUsd on monthly 50% Fib support as mentioned earlier. Euro haters aka bears @ 98%. Sentiment analysis (the 98%) provides the Defcon 4 high alert for short-term or intermediate-term reversal. Now we wait for Price to signal the turn. We watch this on the 5-min. chart. Close short on any sub-wave higher close., then reverse and go Long. Stop (for new LONG) goes below the 5-min. wave low.
Dow Jones 60-min. dropped to the 50% fib - see earlier chart I posted where it bounced off the 38.2% fib. Daily chart short continues unabated and unabashed ---------------------------------- other stuff to keep your mind's eye on ..... Keep one eye on the market and the other on the United Kingdom (UK). see my TA thread for my October 2009 prediction, well in advance of current affairs, for a UK sovereign debt crisis and bankruptcy. http://www.elitetrader.com/vb/showthread.php?s=&threadid=179613&highlight=lambda page 1, post #2 in chart, see UK govt. bankruptcy page 2, the UK - US relationship will be severely tested Morgan Stanley published this warning in Nov 2009, a month after my post here at ET. http://www.telegraph.co.uk/finance/...y-fears-UK-sovereign-debt-crisis-in-2010.html ------------------------------------- Jan 29, 2010 on page 6 of thread .... I repeat my own October 2009 original warning http://www.elitetrader.com/vb/showthread.php?s=&threadid=179167&highlight=DX Greece et al are just for starters. Latvia and others too. The big fish is the UK. Bankruptcy 90% probability within 2010 ------------------------------------- latest stuff to hit is Illinois is higher default risk than California and even Iceland. http://www.marketoracle.co.uk/Article21124.html
This might help you guys (if you listen), but hey, its up to you, no biggie, I can only suggest .... You know BofA had been my bank of choice for decades; not any more, funds withdrawn long time ago. from an October 26, 2009 post .... in this thread .... http://www.elitetrader.com/vb/showthread.php?s=&threadid=180468&highlight=bankruptcy FDIC is broke. BAC can't withstand waterfall #2, soon to come. Neither will the others. Home safes and concrete will become bosom buddies if not already. Keep minm. 2-yr supply of hard cash aka "fck you money" stashed - avoid bank safety deposit boxes. Watch in awe as Spain, Latvia and other eastern euro countries go into bankruptcy. You'll think it won't get any worse, but then UK, a disaster waiting to happen, goes under too
RE: Dow Jones By the way, does anyone here remember the ET talk when Jones was powering up northbound in early and mid April this year? Heck, I saw comments like, awesome, relentless, forever, true bull-run etc., Review the post on SENTIMENT and HERD a few posts back, then dig this post by yours truly on April 19, just one week before the April 26, 2010 top. See last page of thread below http://www.elitetrader.com/vb/showthread.php?s=&threadid=179613&highlight=lambda DSI (daily sentiment index) = 92 = Lalaland options traders sentiment = off the charts = COMPLACENCY = admiring the huge new stretch of beach Insiders selling 6 times > buying = they've seen the receding waters, know what's coming, and are now bolting for the hills
Banana Crumb Muffins INGREDIENTS: 1 1/2 cups all-purpose flour 1 teaspoon baking soda 1 teaspoon baking powder 1/2 teaspoon salt 3 bananas, mashed 3/4 cup white sugar 1 egg, lightly beaten 1/3 cup butter, melted 1/3 cup packed brown sugar 2 tablespoons all-purpose flour 1/8 teaspoon ground cinnamon 1 tablespoon butter DIRECTIONS: 1. Preheat oven to 375 degrees F (190 degrees C). Lightly grease 10 muffin cups, or line with muffin papers. 2. In a large bowl, mix together 1 1/2 cups flour, baking soda, baking powder and salt. In another bowl, beat together bananas, sugar, egg and melted butter. Stir the banana mixture into the flour mixture just until moistened. Spoon batter into prepared muffin cups. 3. In a small bowl, mix together brown sugar, 2 tablespoons flour and cinnamon. Cut in 1 tablespoon butter until mixture resembles coarse cornmeal. Sprinkle topping over muffins. 4. Bake in preheated oven for 18 to 20 minutes, until a toothpick inserted into center of a muffin comes out clean.
Re: Dow Theory post several posts back Now all 3 famous Dow Theorists are in agreement that a bearmarket signal is in effect. Note that my signal was april 27, far quicker than these slowpokes. But hey, Dow Theory is a stellar methodology. http://totalinvestor.blogspot.com/2010/07/dow-theory-sell-signal.html
In all the years I've been watching the Discovery Channel I've never seen a dispersed HERD scatter first, then a few HERD members get together and start making pancakes for the one(s) who dispersed them, namely the lion(s).
You are making absolutely no sense today. " I still have my chillum from Anjuna. I'll smoke some. " Try and get back to that. Figure out how your view of the market changes after you find your chillium. Are you more negative now or less? Now take a piping hot bath and play OMD. Drink of a glass quickly of orange juice and two lemonades. Eat half a bowl of cereal and tell the nurse that you haven't broken the fast. Give blood. Now how do you feel? I thought so. Again puff and sell LLEN over $10.00 entry price $8.25. Use that money to pay your estimated taxes which you forgot to pay and are now a month overdue. You just made some money you are not stagnant you have a purpose.That feels good. Buy IRONWOOD IRWD (again) 30% gain is about to begin. Go Long here for the day and then again back in on Thursday (if jobs number is this friday) This is how to get the job done.~ stoney