--------------------------- guys, I haven't changed a thing - I'm continuing from the same pattern from a few days ago which will serve as a reference point and now see below, I'm numbering the waves from where I left off ... as you can see the circled wave 2 is shown in 2 locations which means that I am unsure as to whether the current 60-min. rally will give me another leg or not. We will know this soon enough. None of this affects the Thread Daily chart short call - that's as smooth as silk Uploaded with ImageShack.us
It isn't. I like to look at weekly averages, as they seem to be magnets for price, test, re-test, rejection, etc.
GOOD MORNING. DB on that first chart I count 5 distinct waves down! If the pattern is complete what are you fretting over? rally ignites THURSDAY as promised here. What does all of this matter? Not very much. I'll admit to being a little stumped this morning. So far my options are as follows-- (a) Jump On CF (b) Ride YONG (c) Take a stab at IDSA (scrap metal) (d) Buy HXL ( aerospace - leaning towards this one) (e) Lay A Bet On GAME (f) Allow OVTI to hold above $20 and hope Sony rumor is ill founded. >>> Those are my ideas after 3 hrs of research. I'm not doing back flips. yet. ~stoney
Not fretting, Stoney. The Ending Diagonal Triangle pattern is over, finito, adios. The 60-min. chart above is depicting a NEW move. But the old pattern is adios. Dig?
OK, I'm putting this out there waaaaay in advance. The next Dow Jones move(s) on 60-min. is shown including Fatter Finger The dashed lines are just approximations ... Uploaded with ImageShack.us
Yikes we agree the DOW is going to 10,600! Hummmmmmm. Well luckily investment sentiment is so bad. Geitner & co allow massive refinancing and that's the kindling to get us moving again. What of Jumbo mortgages? If they are included I will refinance my weekend place as I have been dying to do so but implied loss of principle is a sticking point. Are you ready for that move we agree on to start this Thursday? And considering a lack of newsflow after earnings why would you bet against a CROX which should outperform the market on the way up? Oh the BUTTERFLY EFFECT! The butterfly effect is a metaphor that encapsulates the concept of sensitive dependence on initial conditions in chaos theory; namely that small differences in the initial condition of a dynamical system may produce large variations in the long term behavior of the system. The term "butterfly effect" itself is related to the work of Edward Lorenz, and is based in chaos theory and sensitive dependence on initial conditions, already described in the literature in a particular case of the three-body problem by Henri Poincaré in 1890. He even later proposed that such phenomena could be common, say in meteorology. In 1898 Jacques Hadamard noted general divergence of trajectories in spaces of negative curvature, and Pierre Duhem discussed the possible general significance of this in 1908. The idea that one butterfly could eventually have a far-reaching ripple effect on subsequent historic events seems first to have appeared in a 1952 short story by Ray Bradbury about time travel. ... And that was one of my favorite stories! So the ripple effect of our combined bull call here DB, ensures a rally starting Thursday.~stoney
Thread started 7/14 DOW price 7/19 10,100 >>> Well let me quickly say where my head is at. I like the way IDSA moves it had a $16.30 low and is back to unchanged at $16.95 This scrap metal play is a buy for me but I'm hoping to do it tomorrow. >>> YONG not so much replacing Chinese idea with RINO another. >>> OVTI I'm just not convinced yet >>> HXL Looks good but the one I'm REALLY CENTERING ON NOW IS BRUSH ENGENEERING. BW @ $24.59 As it stands now if I get a rally here I will go with IDSA & either HXL or BW. and that's that. All we need now is the rally. Folks, it's been tough these few days I've been back from the beach. I was pretty much diagnosed with a real disease and I am faced with the interesting situation of taking a DNA test or not a test that can only tell me bad news that I'm going to be a real mess as I get older. My wife is too eager for me to take that test, I guess she wants to know what she's in for... I'm not taking it. So think about that next time someone pushes a diagnostic stock. I'll touch base in the morning and then take a few weeks in Ct to get my head straight. When I get back we'll sell CROX together no matter where it is.~stoney
Peronally, although I do like seeking out tops & bottoms, I prefer dealing with facts rather than forecasts - breakouts. Of course there are false breakouts on weekly charts, yet a megaphone is not such a common event on those time frames. Forecasting keeps me interested in analyses, but it is breakouts that I actually bank on. What used to be rather difficult in the past is having to go against directional bias, whenever analyses says market ought to go up & price dictates selling instead. But in time I got used to accepting being wrong in forecasting & being right via a breakout & of course vica versa too, sometimes analyses is correct & price action is misleading. But I have also learnt to accept that.