I just worked out how Lundy can be so sure about this bottom. He's looking at his charts up side down. Runningbear
Why are you and everybody else on this guys dick so bad??? I mean if you do not have anything constructive to post why waste your time posting anything??? PEACE and good trading, Commisso
Is it possible to predict the markets? Yes. I will prove it. However, I can't do it here as a forum makes for a lousy venue when information needs to be organized. So I won't be posting any more predictions here. I tried to do it with the sleepless nights journal. In fact, each day I posted that journal, my predictions came true. But there was so much mumbo jumbo with people who had axes to grind, the actual journal was buried. Anyway, I'll be posting my daily forecasts @ http://chartsmith.weblogger.com The forecasts will be posted at 9:00 am every morning and will include some or all of the following. Current trend (weekly charts) Daily Gap information Directions the NDX will take Important Pivot Points I'm not selling anything, and I will continue to be an active participant of elitetrader forums, but for this specific thing, I think it will be easier to post on my own website. I will also keep a live journal of how I trade or change my plan once the market is open. I will also dispell the widely held opinion that elliot theory, and fibonnaci retracements are baseless. I will do this by showing actual techniques. That will take a bit more time, I'm just getting the website setup. Anyhow, no more predictions from me, at least not here.
It's fun, and he sets himself up for it so bad. Nothing personal to Lundy, just can't help it. Perhaps Lundy is a Doors fan? http://doors.iscool.com/lyrics/Been_Down_So_Long.txt
"I will also dispell the widely held opinion that elliot theory, and fibonnaci retracements are baseless. I will do this by showing actual techniques. " Lundy, First time posting on your thread but listen...I studied and "used" Elliott wave theory and Fibonacci math for 13 years. From 1984 to 1997. I learned and know it better than anybody who's ever published anything on it. You know what? I say F**K Elliott wave. Its of no use in financial markets. You can NEVER depend on it to make predictions and more important the *extent* of any impending move! In fact, I learned these damn theories so well and got my mind so much into the Elliott wave thing that I now do NOT want to use it but find it very hard to forget all that "useless garbage". Do NOT go down the same route or encourage others to follow because this stuff only seems to work in HINDSIGHT. Look at Prechter, if he traded his predictions, he would be bankrupt a looooong time ago. Good luck in your endeavors. IndexTrader
Commisso, I have made several constructive posts on this thread, but I find it funny that Lundy claims to have been buying calls since the 22nd of June, and that he's making money from these trades. He claims to be holding three quarters of that position for a huge run up so whatever he's making on buying and selling the other quarter couldn't possibly cover his losses to date on the larger portion of the position. Unless of course he doesn't consider it a loss yet because he hasn't booked it. Other than that, it was meant to be a like hearted joke. Runningbear
The Lund has a nice webpage...I went there for a visit to see how he's doing on his own.. He was right on,, this mornings open it was up...... HOwver, Im wondering what NASDAQ he's talking about. Isn't the NAS around 1400???? anyways I could be mistaken.... heres his quote off his page: "Direction 07/09/02 - Will rise above yesterdays open (1051.27) and possibly above yesterdays high (1066.28). Overall very bullish for today. Morning Gap 07/09/02 - Overnight prices are suggesting a gap up. If we maintain the gap up, I don't expect the gap to be closed. If we gap down, the gap will be closed and I expect a sharp rally higher."