Wall Street close watch

it could go this way too...

a few more points to go, time running out

Go go go!

from http://www.bloomberg.com/apps/news?p...H8A&refer=home

Crazy people, investment decisions from a price chart!!!

To console me and possibly others from the fact that the stocks have stalled in their descent yet again, here's a nice quasi-dry-funny one for the weekend:

http://bigpicture.typepad.com/commen...-of-secon.html

Here's some food for thought-I've been looking at something I call the Double Stoch Indicator. The basic idea is simple:

I look for two consecutive areas that show price is either overbought or oversold. For an overbought condition (indicating a downtrend for the market), the second area must show "overbought" at a price which is lower then the first. For an oversold condition (indicating an uptrend for the market), the second area must show oversold at a price which is higher then the first.

Think about what this is telling you. For overbought, the indicator is saying that even though price at the second area has dropped relative to the first, price now is still too expensive. For oversold, the indicator is saying that even though price at the second area has increased relative to the first, price now is still too cheap.

I've been looking at this over a wide variety of markets; currencies, indices, stocks and ETF's and it remarkable how accurate it is.

A Double Stoch Over Bought was indicated on the S&P on 2/28.

http://www.angelfire.com/or/truthfinder/index22.html

FOR YEARS IVE USED Gan for timing in market but a friend of mine Jacob singer introduced me to the Kontrattieff wave for economic forcasting , it is frightingly acurate have a look at the above sight, my gan charting predicted the turn in November but thisis realy uncanily accurate
From Brian

these end-of-day rallies are unbelievable! i wish we could get the records of the PPT, they have got to be holding this thing up at the end of the day to stop overnight panics. i aint no conspiracy theorist, this one just plain makes sense. the timing is just too perfect, every damn time!

I don't believe in a PPT except possibly under very unusual market conditions like Sept 11 '01 period or Black Monday Oct '87 period. If they have been operating these last few months then they are responsible for more comebacks than John Elway.

Granted these are unusual market conditions, just too many times to attibute to some quasi-goverment group.

ah, there we go, officially at new lows on all major markets

i would be my right pinky toe that the PPT has been operating in the last few months! i can only guess on the frequency and volume, but reading bernanke and greenspans books i know for sure the government is tracking the stock markets day by day, they care a great deal about these markets and will avoid panic situations at all costs (end of day slump = panic). and if they have the PPT sitting around, why not use them?

edit: just found this article about the PPT: http://www.telegraph.co.uk/money/mai...0/ccview30.xml

now thats how you read body language LOL

Yo, Merlin!

The good news:

"In interviews on CNBC Monday morning, several investment strategists concluded that with more bad news to come, the bottom's not yet in sight. Yet they differed on what investors should do about it"

The bad news:


"........, several investment strategists concluded......."

Doing a google search for PPT will get you the Telegraph in the Uk and plungeprotectionteam. com. That says a lot to me.

But on another note, how about the folks that fear the power of the Carlyle Group. They really run the US government in case you haven't read any good conspiracy theorists blogs for the last so many years.

LONDON - Private equity firm the Carlyle Group came under renewed pressure to come to the rescue of its beleaguered investment fund, Carlyle Capital, which warned on Monday that creditors could liquidate up to $16 billion of assets..............................

Don't you hate it when that happens. Billions of dollars in losses can sometimes get in the way of ruling the most powerful nation on earth.

Yup, "money makes the world go round".
Isn't that the saying, sick as it may be.

dagoods, At > 13 Posts/day, given the assumption you sleep for 6 Hrs/day, AND Assuming you actually read the posts you respond to. ..
I would like to discuss your Methods. Ya' gotta be Scalpin'... right?

No matter what, I would appreciate, some clues to your edge please.

Seriously, just lookin' for some tools for my box...

i am just a noob bro.... been trading for about a year, and mostly demo.... In the beginning I have blown one account in my quest to become successful at this....I came here to ff to learn from all of you more experienced traders... i doubt i could teach u anything u don't already know or can't ealsily enough learn right here on ff... seriously....


for me this is a career change...and i am taking it slow and getting better each month..... my performance continues to improve


I post alot in order to get criticism and counter points of view in order to learn.... I was the annoying kid in class at scool that alwasys rasied his hand and got involved and asked lots of questions..... i love being wrong becasue it is an opportunity to learn from my mistakes so i can improve.... get involved thats my motto....

here is what i have learned:

its not about pips its about making money so make it any way u can...u can should scalp and trade.... whatever.... i'll take 10 lots on 10 pips anytime wouldnt u? in fact in may be easier than getting 100 pips many times.... this is an exageration but you get the idea... considering price is ranging 80% of the time in forex... i would think it is essential to learn to trade in any market.... just my 2 cents

many methods work... but u have to find what YOu are compfortable with and stick to it rather than being all over the place (at least for me)

if u like the oz method follow it to a t and demo it and see if it works for ya....

if u like the slope method stick to that....etc... whatever.... what works for me is probably NOT what works for YOU

KISS and don't overcomplicate what is simple... traading is simple

where is price going? why is it going there?

where is it definitely NOT going?

ok plan a trade on how to make money off of this.... plan the work then work the plan.....simple

hint.... get into the trend!


for example the fundamentals have been screaming at us for a long time that the usd is weak and getting weaker ...doesn't take a genius to see that....


will/can it go up ...sure it can


but will it come down again, IMO definitely! how far up will/can it go? how will this effect our currency that we want to trade? what is the top of highest it can go before it comes back down? ok then now we can make a plan.....

I have thrown away my indicators for the most part....so
for me trendlines (demark) and basic horizontal support resistance and now attempting to learn fibs ala skunny indicator free trading thread (which i highly recomend) fibonacci trading ala bobokus thread and islanders thread (which are both also great).... throwing in maybe some patterns whetehr it be basic candlestick patterns, m, w, 123, head and shoulders ...basically ...anything to do with price action......


indicators to me are just attempts to mimic these basics...


also money management is far more important than any system.... with good money management techniques you can wrong more than you are right and still be profitable...you also can turn a bad trade into a break even or profitable trade if your MM is good..... i have done it many times....


thats where i am at in my journey..... how about YOU!?????

PS YOU are probably a much better trader than me...so i thank you for allowing me to expound and review how far i have come and realize how much more i still have to learn.... i have lots of work to do still.... glad you let me ramble! thanks! i hop[e i didnt come off the wrong way...was just rambling my thoughts off the top of my head on where i am at and what i have learned ....




PSS i may start a poker thread at some point if i get enough interest in it....this is something I actually CAN teach

[quote=dagoods;...


[I]"indicators to me are just attempts to mimic these basics...


thats where i am at in my journey..... how about YOU!?????[/i]



I only have a couuple of Inds that Do Not report Histrical Reaction.

My "Journey" continues. Presently, I am + + + but that doesn't mean I will continue to be so.

The things they are trying to teach you in the "Stickies" are things to keep current.

I don't know this for sure, BUT I BET, Buffet is Still doing his research.

Uh-oh folks we have the usual 'super-rescue everything plan' a few pips ahead of the key technical level break once again...this does not bode well

All our troubles are over now that the Fed took this decisive step... I think DJI is heading up to 15,000 in a straight line .

I go for sucker's rally...

Market cheers the fact that there are cash to rescue financial institutions, then panic when some of them actually go for the cash...

Fed's announcement:
"They will be saved - BUY BUY BUY" - Dow +250

Companies going for the money:
"WOW, they actually needed to be saved!!! SELL SELL SELL" - Dow -250

As we said in the other thread:
Dow below 12k today: "Irrational exuberant stupidity"
Dow above 12k today: "stupid exuberant irracionality"

It sucks.

Well I hate to keep harping on this, but look at the small volume of this rally. I would call this a bounce. Hey where's my cat?