I was 50% long since yesterday before the close. This morning, jobless claims are 500K, expected was 480K. Yea baby! Let's sink this market!
The DOW now down 50 will finish the day up 111. I can't tell you how I know this but it is already written. ~si
Ok I know it doesn't look good but you have to expect that extension most of the hedgies wanted to buy at S&P 1085. BUYS are in! I'm going to fool you here-- I went with RINO @ $16.60. REASON- It's the type of known go go that has a close enough to high perch of resistance but still far enough away that traders see $3 or so and this China stock will get attention while so many other great one's like CTFO languish. T-$20-$22. re CF... nice little two day cup w handle this will go higher but who can afford 1000 shares? Would it matter to buy 300? If I were creating an account now I would certainly use it. I sold WEN. >>>> Alright I'm gone for two weeks! Thank you DB for your offer, I may take you up on it. I'm not into testing because they find other stuff and I'm still formulating an action plan (one that involves heavy drinking of Miler's Gin!) and physical therapy. Maybe at the same time. peace. DOW DOWN 111 as I type will finish up Exactly 111! GO RINO! ~stoney
Early signs of H&S on Monthly, no significant support has been created on Monthly on the run from 665.75 (2009). Weekly projection points to 100 SMA re-test as price failed to lock above 50 & 20 SMAs. 100 SMA=~1,000 ES. Here is a visual for the Weekly. http://www.dormantrading.com/Trader...&scale=LIN&size=L&setting=Averages - default& This is Monthly (early signs of H&S). <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2928822> P.S. DB, so you know, I hardly ever take anything personally what is said over the internet
I bet you guys didn't know that Paul Tudor Jones's home-run during the 1987 crash was underpinned by Elliott Wave analysis. Hey, it hardly matters but see for yourself and anyway, if you can tolerate Tony Robbins for 23 minutes. http://business.tonyrobbins.com/78/an-important-note-of-caution/
JP, the ET majority is a fckin disaster - if I bought this place, I'd make it a non-profit org. and there'd be only about 10 members left. You'd be one, so would Stoney, TraderZones the 3rd. No, you're a much better realtime trader than I am - sometime later this year I shall be reading your forex thread. But if you keep blowing smoke, I'll surpass you in a month. just kidding, JP. nice trade on gold thanks for sharing
You're missing the boat, JP The monthly H&S signal will be much later. There's a far more sinsiter Head & Shoulders pattern on the weekly. And it has a downsloping neckline, which is far more bearish. Also notice that it is rare for the right shoulder in such downslopers to reach the same height as the left shoulder, but this sucker manages to do so. That is even more bearish given the downslope of the neckline. Uploaded with ImageShack.us p.s. glad to hear it, JP, but just in case you did, just remember that this is my style, there are no hard feelings or carryover of residue
Make yourself useful - fetch me some water. No, not from there. From the well. I like my water fresh.