SunTrader

And another way to put it, is that the TV pundits don't understand, you cannot project with any accuracy what would have happen today if x had been done in the past.

I think this is spam. Same question was asked by same name (with low post count) over on TradeStation. I think they are just trying to get traffic over to link to catch a potential customer or two.

The brains of Wall Street got us into this mess so obviously that means we turn to the brains of the media to figure it out and the brains of the politicos in DC to fix it. Yup. Winning formula. Wake me when its over.

Talk nowadays in the market is that there needs to be capitulation for a bottom to be confirmed. There have been many times in the past when there was no "capitulation" as the term is commonly understood. Rules are good except they don't work always in all markets/all the time.

I wouldn't exactly call them climaxes since the trend continued lower and then lower still. And as for the original example where there was a pullback on lower volume before it went to the eventual high and then broke lower - lower volume on a pullback can also represent lack of sellers if the trend continues much higher. Only if there is a top soon after can it be determined that it was more a lack of buyers that caused volume totals to be dropping. Other confirming factors are needed then.

Kamakydev in my case.

Low today for the S&P500 cash missed hitting Gann fan (chart posted the other day) by about 2 points. A little room for it to move up before convergence next week sometime of up/down fan levels. Unless Friday decides to give us another monster big bar.

After today's big drop I would expect some kind of retracement. But then continued lower move. I prefer to look at the SPX cash index rather than deal with futures having rollovers or funky back and or percent adjustments or other assorted ways of dealing with different price scalings.

Up close and down close, respectively. Link didn't work BTW.

Another look at the same, well similar, thing is the $SPX but my preference is to find areas of congestion rather than spike bottoms/tops. Most times this represent more traders trapped and a greater likelyhood a reaction. RSI(2) is signaling a sell which I would take on a close below todays low but expect only a retracement of the move off the swing low of 7/15/08. My wave count might be wrong, very possible , but if not I expect higher prices (1350 area?) after the retracement.

I don't see the basketball 'market' on EBay or elsewhere on the net as comparable to trading on the CME. Whether or not today, the eMini should be 1275 or 275 or 2575 is open to debate that S&D dynamics will determine. But whether or not memorabilia, if the legitimacy is known, should be higher or lower is based only on people willing to collect them. Ex. the basketball can't be played with or it loses value. Also I doubt it is possible to 'short' collectibles. Apples and oranges.

When I look at longterm moves I plot the cash index (in this case $INDU) since, back adjusted or not, futures price data beyond the current contract distorts fibs. $INDU is kind of in the middle of 38.2% and 50% retracement, so it is not far off from 1/2 down.

Opps read the whole topic yesterday and then lost fact of the age of the posts.

WTC rebuilding faces delays, report to show: source Mon Jun 30, 2008 4:26am EDT NEW YORK (Reuters) - Rebuilding at the World Trade Center site will take longer and cost more than previously projected, a report from the Port Authority of New York and New Jersey is set to say on Monday, a source familiar with the contents said. The Wall Street Journal reported on its Web site on Sunday that rebuilding of the Trade Center won't be completed until the middle of the next decade and will cost up to $3 billion more than planned, citing people familiar with the matter. The paper reported that The Freedom Tower, an office tower controlled by the Port Authority and under construction, had been targeted for completion by the end of 2011. Now, the tower is likely to be delayed a year, the paper said. The paper said major components of the project will be delayed one to three years and will cost $1 billion to $3 billion more than the current estimate of $15 billion, citing people familiar with the project. The source who spoke to Reuters said the report won't detail dates or specific costs, but will note that some of the Trade Center project dates will be moving back and that there will be some cost overruns. The Port Authority is responsible for building the largest projects at Trade Center site, where nearly 3,000 people died in the September 11, 2001 attacks. The projects the Port Authority is building are: One World Trade Center, the Freedom Tower, and The World Trade Center Transportation Hub, according to the authority's Web site. + + + BTW what are 'decessions' ? :doh: I happened to have had a conversation with a former ambassador in the Bush administration about 6 months ago regarding among other things - Bush's intelligence. This man thought Bush was far from being an idiot. Did he tell me any great 9-11 stories or any other juicy tidbits, of course not. Just that his opinion plain and simple, which may not be what most believe, is that Bush is no dummy.

End of the month, 2nd quarter, 1st half of the year. I think I heard, barring a spectacular rally, the month of June is looking to be 50+ year worst performance. Sell in May and ........

Someone mentioned that a couple of years back and I thought huh? Then I gave it a look and now I that is the only setting I use. And like others have said only in combination with other confirmation.

I think it is a matter of opinion as to what is simple and what is complicated related to one's length of market experience.

I like to think of bars with long wicks in a down move around a support area as more a drying up of selling pressure and not necessarily a large influx of new buyers. Otherwise why is there such a large move down from the previous close. Obviously there was buyers above, but there was still too many sellers to be absorbed till it went lower. It then stopped going much lower once enough weak hands capitulated and got out. Once the move started back up more buyers and short coverers came in and less sellers were inclined to get out or potential new short sellers deciding to wait for a better entry point. Vice versa in other direction, naturally.

That works out to $846/ounce. I guess then they are confident that this selling will not cause much deviation from the most recent price range.

Bear Stearns is partially the reason for this recent turn. Word is they had a lot of money in commodities and these trades have to be unwound by JPMorgan to square things. That is causing others to take profit, and/or more selling, by many hedge funds which were leveraged big time. Which is driving money in to bonds, the usual flight to safety reasons, with equities not knowing which way they want to go. So I would watch gold closely. Might be a fake out in a new up move before the real new up move actually begins.

:haha:Yup, cnbc is the video version of wrapping fish in newspaper.

I have used TradeStation for well over 10 years of futures trading (yup me too - no stocks) and have almost never experienced data freezes during FOMC announcements or other news related periods. But from the sound of things you are looking for something far less sophisticated. You can get freebie charts at quote.com and bigcharts.com etc but you may be aware of them already.

Went to the Panthers/Islanders game last night. Even though they are both trying to make the playoffs it was a ho-hum game. Actually two ho-hum teams so what did I expect. The physical aspects of the game have been toned down too much IMO. Tomorrow my fav NY Rangers come down to South Florida. I don't care how they win, as Al Davis likes to say - just win baby.

Again it depends on the market and personal choice really, but generally a 50 tick or 89 tick bar would be used for scalping. And to gauge the longer trend during the day 610 ticks probably. I wouldn't think tick charts would be very effective for anything over a 1-3 days as far as swing trading and would use 610 for that.

Really depends on the market traded and what size movement are are trying to capture. In other words its more personal choice. Popular sizes are fib based 89, 144, 233 and 610 mostly.