Tasuki

VJ, just for the record, his name is Larry Pesavento, of Gartley/Butterfly fame. Taz

Sheer brilliance, omni. You obviously have an excellent grasp of Market Profile principles. Thanks very much. Tasuki

Looks like Hubert Senters and John Carter have gotten their act together to create a petition to sign. Here's the link: http://clicks.aweber.com/y/ct/?l=Fx7hq&m=1gG.20wr5M0f5r&b=e2pemCcnVZIcBQRbqP094Q

http://www.traderslaboratory.com/forums/f2/let-wall-street-pay-for-wall-5446.html Looks like a second thread has opened up on this same subject. Link is above. It's under the "Market Analysis" section.

http://www.traderslaboratory.com/forums/f208/transaction-tax-resurfaces-on-a-health-5356.html Here's a link to another thread in TradersLaboratory dealing with the same subject. The other thread is under the heading, "Trading and the Markets."

Hey folks, I've been mulling this over, and I've realized that this could put many brokerages out of business, especially the futures brokers who rely on high volume from scalpers and short-term daytraders. This includes some of the sponsors of our Traders Laboratory forum. Individually, traders have very little clout, but if we alert our brokerages to the problem, and they get on the phone or send emails and faxes to Washington, our chances improve dramatically. So, bottom line, CALL YOUR BROKER. LET THEM KNOW WHAT'S GOING ON.

Bubba, couple of questions: 1) your chart says, "Tradestation chart" but the symbol is wrong for it to be TS. It should be ESH09, not ES H9. Only reason I'm asking is to figure out what sort of charting you're using. Would that be Multicharts, perchance? Just curoius. 2) I've got a Gartley indicator on my Tradestation chart, and it's not picking up the Gartley that you're showing. I think that point C is too low for a traditional Gartley...but then again I'm no expert. BTW, I'm counting my points the "traditional" way for Gartleys (X-A-B-C-D). The attachment to this post shows the Inputs for my Gartley. Does yours look anything at all like this? I just realized that my post is doubly off topic. Oh well. I won't make a habit of it. Tasuki

Thanks, rigel. My initial thought was that this information would be useful for trading, but it doesn't seem to be. The idea, in my mind, would be to discover some way to tell whether the inititators were going to have any follow-through or whether the faders were going to push price right back down. Mixing styles here for a minute, there's a term in Wyckoff analysis called "joc" which stands for "jump over creek." This same idea (minus the cute term) appears also in VSA analysis--sometimes we see price "jump" over a resistance barrier in one big candle. The idea, apparently, is to keep the longs from selling ("hey, I'm in the money, no need to sell now") and to force the shorts to cover ("what the hell, oh my god I'd better get out"). Traders who use candles or bars can see this activity and they recognize it for what it is---fresh buying power, in other words, inititative buying. Traders who use Market Profile, however....how do they know from their profile that this is intitiative? I guess what I'm asking is whether there is something within the market profile, some detailed structure of the profile, that distinguishes between intitative and responsive?

Sometimes I wonder about some of the terms that MP folks make up. For example, the concepts of "initiative buying" "initiative selling" "responsive buying" and "responsive selling". See p.46 Dalton's Mind over Markets. For those of you who don't have the book, what you do, if I've got this right, is compare the current day's market activity with the previous day's value area (VA). If the market is currently trading above VA, then you say that this activity is either initiative buying or responsive selling. To quote Dalton, "The initiative range extension and the responsive tail were one and the same activity." So, bottom line, does this help the trader? Or not? How's he to know if he's looking at buyers initiating a new leg up in the market or sellers responding to higher prices and selling above yesterday's Value Area?

http://www.house.gov/lynch/ This link goes to the homepage of Congressman Stephen F. Lynch of Massachussetts (he's in the 9th district which includes Boston and some of its southern suburbs). I saw him on TV (CSPAN I think) in which he was questioning Ben Bernanke about taxing us traders to recoup some of the losses that the government will incur during this bailout business. Bernanke was against the idea, Lynch was pushing it. If anyone here on TradersLab lives in the 9th district in Mass, and you agree that this tax on us is absurd and wrong-headed, then please WRITE YOUR CONGRESSMAN! Recently, Time magazine wrote an article on their "top 25" names responsible for the financial debacle we're in. Guess what, not a single trader was on the list. Big surprise. Lynch's belief that somehow we're responsible for wasting billions of dollars in bad loans or the house-flipping frenzy is utterly incorrect. This simple concept has to be explained to those congresspeople who somehow have been persuaded that we are the bad guys and we should pay for for the excesses in the banking and mortgage industries. So, to anyone out there, does anyone know of congressional representatives other than Stephen Lynch who are in favor of such a tax on traders? If so, please let us know so that we can write to them.

Dean, thanks for posting this. The example picture on the Ninja forum is too hard see for any detailed examination of the indicator. When I clicked on the picture, I got a download box for a zip file (for downloading the code, I presume). I was hoping to see a bigger picture. Any chance you could post a better, or at least bigger, example? Thanks, Tasuki

And to think I respected the liberal democrats. We've got to fight this folks, if it's as bad as it sounds.

ditto for me. Provides a central hub for traders using a particular software.

jonbig, Cheeseandcrackers that sounds almost too easy. Thanks for the info. Tasuki p.s. I remember a few years ago trying to run Windows on a Mac. I worked in a molecular biology lab, and we had the very best techs available. Notwithstanding, the Mac crashed CONSTANTLY when using Windows. From what I've gleaned from the preceeding conversation, Macs (and their interface with Windows) must have made some giant leaps forward. Correct? From what you and Tresor have been saying, your Macs don't ever crash when using Windows? I'd give my eyeteeth to see Tradestation running on a Mac.

Gentlemen, your technical expertise is overwhelming my circuits. Let me ask a couple of simple questions: Let's say I have Tradestation. Or Ninjatrader. Or both. And I want to run them on a Mac. 1) Is this possible? 2) Are the steps necessary very complex? If not, would someone please explain what "interface" software you need? Thanks, Tasuki

Tawe, Please pretty please, when you see one of these multi-day tests, could you post it for my benefit (and others too, I suspect)--this is a pattern that sounds like it ought to be valuable to recognize, but I don't recall it ever being mentioned before on this or the earlier VSA thread. Thanks! Taz

Tresor, What charting package do you know that will run on a Mac? Seriously, I didn't think there were any. Tasuki

Hi Darth, I'm all for a Ninja forum, or subforum. Its own thread, anyway. Just now I was trying to find the posts that are somewhere on TradersLab about the effort to create a Market Profile indicator for Ninja. Can't find it. Having a central hub for Ninja-related topics would sure help. BTW, can you (or anyone, please) point me to the posts I'm looking for on MP for Ninja? Thanks, Tasuki

Here's another one, crude oil. Astonishing chart. Can you say, "demand destruction?" comments on chart.

No prob, VJ. A+ for effort at least. So, what were you upset about, this hijacking thing? I never saw the posts that Soultrader deleted so I don't know the dirt. Just glad we're back on track. And speaking of back on track, dontcha think it's time we checked out some monthly charts? Heck, we've got the whole weekend (OK, it's not like I have a life or anything). I'll start off with a monthly chart of the $SPX. Comments typed on chart. I should have added that price tested the lows of 2002 two months ago with what looks like a potential shakeout (that would be November's candle). Then we got a test on volume lower than the previous 2 bars (3, actually) which looked bullish. Then we got January's "No Buying Pressure" (if I'm reading it right), which throws into doubt the highly tentative bullishness of that test candle. So, I guess the jury's still out, but the bullish case sure don't look too damn convincing, at least not to me. No doubt I'm missing obvious stuff (I do that). so any comments/corrections/additions welcome. Tasuki

Brilliant, tawe. So, what sort of confirmation would you like to see to make MSFT a longterm buy (we are at multiyear lows)? A test, right?

Mostly just posting to see if this thread is still alive. Apparently a bunch of posts were deleted. No activity here for 4 days. Very strange. Anyway, attached is a daily chart of the OEX. Hard Right Edge---doesn't that look like "No Selling Pressure"?

Thanks, zdo. So, there are some people who think that retail traders like myself are the cause of the massive financial mismanagement by the major brokerages, the subprime loans, the devious repackaging of toxic debt? Wow, somebody needs to whack them up side of the head, wake'em up. Clearly, Congress needs to hear about this or we're going to lose our livelihoods.

zdo, Thanks for the update. Who are these "interests" that want to get this measure passed? And why? (I suppose if we knew Who, we'd probably have a good idea of Why). Tasuki

Thanks, bakrob. Well, it would certainly put alot of people out of business. Where or how to we protest this? Someone who knows what they're doing re: Washington politics should put together a way to efficiently tell the appropriate lawmakers that this is a really bad idea.