OAC

Browsfan: Weren't you a Series 7 Registered Representative ? Didn't you have many sleepless nights worrying about your client's portfolio ?

I could hold that long, but it would seriously disturb my sleeping pattern.

Ok, Dogpile must be out sick today. We now appear to be coiling around the VWAP, and the squeeze indicator also seem to be in effect. So expect a directional move soon.

Actually more like 3 months ago because of the Inverse Head and Shoulder and some Fibonacci calculations. I bought the ETF(USO) which is basically consist of unleverage futures positions. I bought it for my long-term portfolio which explains why I have held it so long. Had I bought the futures, I probably would have liquidated in a couple of hours .:o

Why all the sudden interest in Crude right now ? Is it because it is on the newspaper headline ? HAHA, I bought it two months ago.

Looking at today's action , I was anticipating a AB=CD Gartley type of formation from last thursday's high. But on both ES and SPY charts, the CD leg is not quite the length of AB yet. Does this mean we may have another down leg coming ?

That is an interesting-looking chart. Is that a spreadsheet or came from a piece of software ?

Hmmm!!! Swinging Trading on the golf course with Ben and Jerry Ice Cream, Isn't that the good life ?:beer:

My apology to Dogpile. I understand this is a thread about Market Profile. I am not trying to turn it into a thread about Elliott Waves. As Dalton has said in one of his books that some days you have to throw everything out of the window. I brought it up because it may be the weapon of choice , at least for the near future.

If I may add. Given the panicky type of selling last Thursday, I would'nt be surprised to see a five wave down, which may become either a Wave A or Wave 1 of a higher degree.

If last Thursday's sell off was wave 1 or wave A and given today's impulse wave down, this could be either wave 3 or wave C which has the potential to become quite extended.

i think Brownsfan would agree with me. He can do 15 trades in 10 minutes or something to that effect. Wow.

What I meant was: Trade what you see and not what you think:)

Welcome back James As a daytrader, you don't need to know whats going on. Just get into the rhythm of things. Best of Luck

From my observation from various sources, I get the impression that the Bid and Ask data have to be analyzed in 30-minute aggregates similar to a TPO. Anything smaller in the 1-minute,3-minute , and similar tick increments seem to reflect a lot of the Arb activities

Jesse: I am already familiar with 95% of the patterns listed in the table of content. Do you think I will still benefit from reading the book ? Thanks

Big Wall Street firms have a lot of money to spend for Quant talents. I think a PHD would even be better. But bear in mind, you guys are no match for us discretionary traders.

Where are you ? Are you busy attending TinGull's Swinging Trading Bootcamp ?

or Equity Symbols: SPY, DIA, QQQQ Free Intraday Charts on http://www.bigcharts.com

ES, YM, and NQ

Was last Thursday's sudden collapse in the afternoon hours a sign of exhaustion and attempted reversion to value ? If so, where would the value be ?

Based on the relationship of Friday's close and today's open and similar occurances during the past 10 years, that 1558.00 area has 75% chance of holding

I think in real practice, John Carter and his partner, Hubert Senters use a different setting for the BB. (1.5 SD and 15-bars) I am not sure what the real difference is ?

If you following several markets, you can have QuoteTracker run them as a ticker tape scrolling at the bottom of your screen just like you see on CNBC.

Do any of you follow Art Collins's free daily commentary and analysis at: http://www.tigersharktrading.com/authors/15/Art-Collins I only started looking at it since beginning of the week, and his indicators for the equity markets have been quite bullish. Yesterday we broke down from the composite value area of the previous 4 days and the market had refused to go down any further. So far so good.