wow… I just got done reading through some posts posted this week. I got only one thing to say. Some of you have been watching too many episodes of the X Files. Either that, or you are tripping 24/7 on some really potent shit.
TheChartPatternTrader is excellent at his work. I watch his video's all the time, as well read Cobra's Blog, and study other great chartists. I even borrow a lot of the charts I post from other blogs listed here. I add my thoughts and notes onto the charts as well, agreeing or disagreeing with what they have marked.
I encourage everyone to study the charts of those listed here on this site, as that's how I learned a lot about Technical Analysis, Elliottwave, Astrology, etc…
I try to put all the pieces together, from many of the sites listed, and add my own input from other factors. Like the news, planned corruption, fake prints, and anything else I can think of that can effect the market.
I'm wrong a lot, but I'm slowly learning how it all works. Sundancer gave as much information as he could. Now, it's up to those who listened and studied hard, to put the pieces together.
I'm not there yet, but maybe in time I will be. You can't expect him to give you the goose that lays the golden eggs. Just be happy that you had the chance get one of the eggs… but the goose isn't for sale.
You'll have to study the charts, and learn through trial and error like I've done… and still do. It's not easy to make in this game Ben. If is was, then it wouldn't be worth playing…
Did anyone ever find out what were those lines were on “Sundancer's” flicker charts? I don't think he ever shared that with anyone. How can we copy that on our screens…..We can't, so we have to wait for the scraps of half information from his table? Must make him feel elite, throwing a piece of meat to the hungry dogs and then just walking off, Lord style.
In contrast, see chartpattern trader videos, see post below
Obviously they are some sort of moving averages simple or expotential
This guy puts it all together nicely. He's comprehensive brief and keys into the point with effiecency. Ignore him at your own peril. You have been warned. (just trying to help, you'll see what I mean) He's asking for donations and he deserves it.
I wondered how you made out with May puts on Friday; probably clobbered like me. I was banking on the EOD surprise to be downward. Well, foregone profit was a tearjerker but real loss wasn't that much.
In a sample chart accompanying the article PeterK80 quotes, the breakout trend continues for one full period and part of another after the bearish engulfing, and then a sizable reversal starts. Either that or the short-lived reversal can happen.
Looking at the VIX chart, I expect it to correct to 38 or 35 in the near term. If it's 38, then the rally will be over on Monday morning. If it's 35, then it would be one more strong push (to 112 probably) and a day of testing containment.
Mon, I dont know if this makes you feel better or worse but here is the info on a bearish engulfing pattern: “The bearish engulfing candlestick is one of the more popular and well known candlesticks. It works very well as a bearish reversal, performing that way 79% of the time (ranking 5 out of 103 candlestick types where 1 is best). Unfortunately, the trend after the breakout is short-lived, ranking 91st. Thus, even though price will often reverse, the bearish engulfing candlestick does not imply a lasting reversal” Also it goes on to say “The bearish engulfing candlestick performs best after a downward breakout, but really sucks after an upward one” the vix just had a upward breakout…
By using just the odds of the above statements and cobra's numbers… the most likely thing that may occur is a slight move higher in the markets (lower vxx) for 1-2 days and then a resumption of the down trend. How high is the question. Personally I dont think we will make it too far… if any. fwiw I am not in a position at the moment.
Rip, I am positioned for an ass whipping if we gap up and run 400 points on Monday so it probably will happen due to me being greedy. I guess we put in a bearish engulfing pattern on the VIX as well which is not good for us bears for Monday. We also had an equity buy signal on the VIX last week. But, the only thing is that EVERYONE seems so confident that we are going up that I have to sort of wonder whether it was their intention to make it look that way. Red saw a fake print last week at 112.08 so I am worried that they will take it there to scare out the bears yet keep that descending bearish trendline. Anyway, I like your charts (of course) and your opinion and hope the best for us.
I use a 100 period weighted moving average on the hourly SPY.
wow… I just got done reading through some posts posted this week. I got only one thing to say. Some of you have been watching too many episodes of the X Files. Either that, or you are tripping 24/7 on some really potent shit.
http://www.lugradio.org/competitions/sh4ct/joac…
Hey, I am doing well….. busy with my job and hence not trading much nowadays. GL and take care 🙂
Cobra's on the bloglist
http://lh5.ggpht.com/_APmrYvpA45s/S_iuhKsk-QI/A…
read cobra's comments very good
Also,
Daneric Elliot wave has many good points to consider. He's on the bloglist
http://danericselliottwaves.blogspot.com/
TheChartPatternTrader is excellent at his work. I watch his video's all the time, as well read Cobra's Blog, and study other great chartists. I even borrow a lot of the charts I post from other blogs listed here. I add my thoughts and notes onto the charts as well, agreeing or disagreeing with what they have marked.
I encourage everyone to study the charts of those listed here on this site, as that's how I learned a lot about Technical Analysis, Elliottwave, Astrology, etc…
I try to put all the pieces together, from many of the sites listed, and add my own input from other factors. Like the news, planned corruption, fake prints, and anything else I can think of that can effect the market.
I'm wrong a lot, but I'm slowly learning how it all works. Sundancer gave as much information as he could. Now, it's up to those who listened and studied hard, to put the pieces together.
I'm not there yet, but maybe in time I will be. You can't expect him to give you the goose that lays the golden eggs. Just be happy that you had the chance get one of the eggs… but the goose isn't for sale.
You'll have to study the charts, and learn through trial and error like I've done… and still do. It's not easy to make in this game Ben. If is was, then it wouldn't be worth playing…
Did anyone ever find out what were those lines were on “Sundancer's” flicker charts? I don't think he ever shared that with anyone. How can we copy that on our screens…..We can't, so we have to wait for the scraps of half information from his table? Must make him feel elite, throwing a piece of meat to the hungry dogs and then just walking off, Lord style.
In contrast, see chartpattern trader videos, see post below
Obviously they are some sort of moving averages simple or expotential
Folks this is a message for everyone. Watch “Chart Pattern Trader” videos. He's on the bloglist here.
http://www.thechartpatterntrader.com/index.php
This guy puts it all together nicely. He's comprehensive brief and keys into the point with effiecency. Ignore him at your own peril. You have been warned. (just trying to help, you'll see what I mean) He's asking for donations and he deserves it.
I wondered how you made out with May puts on Friday; probably clobbered like me. I was banking on the EOD surprise to be downward. Well, foregone profit was a tearjerker but real loss wasn't that much.
In a sample chart accompanying the article PeterK80 quotes, the breakout trend continues for one full period and part of another after the bearish engulfing, and then a sizable reversal starts. Either that or the short-lived reversal can happen.
Looking at the VIX chart, I expect it to correct to 38 or 35 in the near term. If it's 38, then the rally will be over on Monday morning. If it's 35, then it would be one more strong push (to 112 probably) and a day of testing containment.
Mon, I dont know if this makes you feel better or worse but here is the info on a bearish engulfing pattern:
“The bearish engulfing candlestick is one of the more popular and well known candlesticks. It works very well as a bearish reversal, performing that way 79% of the time (ranking 5 out of 103 candlestick types where 1 is best). Unfortunately, the trend after the breakout is short-lived, ranking 91st. Thus, even though price will often reverse, the bearish engulfing candlestick does not imply a lasting reversal” Also it goes on to say “The bearish engulfing candlestick performs best after a downward breakout, but really sucks after an upward one” the vix just had a upward breakout…
By using just the odds of the above statements and cobra's numbers… the most likely thing that may occur is a slight move higher in the markets (lower vxx) for 1-2 days and then a resumption of the down trend. How high is the question. Personally I dont think we will make it too far… if any. fwiw I am not in a position at the moment.
Rip, I am positioned for an ass whipping if we gap up and run 400 points on Monday so it probably will happen due to me being greedy. I guess we put in a bearish engulfing pattern on the VIX as well which is not good for us bears for Monday. We also had an equity buy signal on the VIX last week. But, the only thing is that EVERYONE seems so confident that we are going up that I have to sort of wonder whether it was their intention to make it look that way. Red saw a fake print last week at 112.08 so I am worried that they will take it there to scare out the bears yet keep that descending bearish trendline. Anyway, I like your charts (of course) and your opinion and hope the best for us.