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The MIT Experiment - Day 1


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Greg Here is a picture. Although the line lifted and crossed over the smoother we have several weeks to go in all likelyhood. If you count from the last bottom on 12/30 you will see that. I expect that the line falls back to the bottom and we continue down into March. Again Let's see what Doc says tonight. It is possible that the cycle will abort early. Abort early sounds redundant doesn't it?

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Curious, how many here actually trade 5 minute or less charts?

 

If you do, please PM me. If you dont, no need to reply.

 

Am seeing if this is even worthwhile for me post. I have been posting more than I would expect to during a trading day to see if there are additional short term traders here. Otherwise, this seems to be simply execise for me.

 

 

FWIW...1 minute QQQ wave is down, top is now 25.02 bottom is now 24.88

 

5 minute wave is still up...top is 26.09 bottom is 24.78. When we hit24.78 area, things will get interesting. Until then, suspect we drift slowly down to that level. 24.90 is also a former pivot low for the day, so that will be interesting as well.

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WHich ozzie settings are you viewing it on?

Greg I ass-u-me you are talking about the setting I have on the STO. These are Doc's standard STO settings of 26,18 with 400 minutes on Lycos. Other charting services use a daily chart with 26,18 for the 10-13 week. If you want to use ROC I believe Doc uses a setting of 29 which is half of 58 days or almost 12 weeks. :)

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For this rally the top should be at about 870 with 886 the last line in the sand.

SPX..........869.45...that's my WAG before this over. 884.39 as absolute line in sand which is top of SPX daily chart down wave. The 884 # will keep decreasing with time, so am betting on the 869 value.

 

FWIW....a mechanical buy signal printed on daily SPX, COMPX and DJIA today. However, I dont dong in a bear market for overnight holds.

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For this rally the top should be at about 870 with 886 the last line in the sand.

SPX..........869.45...that's my WAG before this over. 884.39 as absolute line in sand which is top of SPX daily chart down wave. The 884 # will keep decreasing with time, so am betting on the 869 value.

 

FWIW....a mechanical buy signal printed on daily SPX, COMPX and DJIA today. However, I dont dong in a bear market for overnight holds.

Very cool B) Rock and I love your charts even though we are on different time frames. Now if Mr. Market will do what we say. :D

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Any of the chartists have an opinion on CMGI for a dong?  I see an ABC up with strong support, volume creeping higher.

Never got an answer... Oh well, CMGI just sold Alta Vista to Overture for $140MM in cash, up in afterhours... Take another look at the chart.

Well, each time I typed CMGI into Tradestation, it says no such security. I checked with TC2000 AHs and the symbol is valid. Guess TS just doesnt like those under $1.00 stocks. Sorry Fart, but I only check one soure during the day. I did try, but usually not interested in anything under $5.00 and when I got no such symbol from TS, I gave up.

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SPX daily.

 

Lettuce follow the accumulation/distribution indicator. July low to August high...never made it above zero. August high to October low...it goes sideways and doesnt drop. Hmmmm, was someone holding on or accumulatiing stocks...appeared so because from the October low to December high....we got above zero line and since we were close to it from earlier (those that had accumulated earlier), we got jammed. December high to February low.....drops below zero line. Now we are in rally mode...does accumulation go above zero line this time? My guess is it doesnt. Therefore, I suspect the next leg down will be like August to October...the big one...and the accumulation/distribution will stay relatively flat and the next rally be a nice buying opportunity. The be sneaky little bastards.

 

Thats my thought process and it could all be worthless.

 

And my final rant for this evening.....if you dont have a written trading plan with defined methods for picking entries, targets, and stops, you will become one of the majority of traders who routinely give back 50% of each trades profits before admitting to yourself the market has moved against you and you decide to take action. It really is that clear.

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Thanks, Rich.

 

Rock, your charts are much appreciated by this observer- helping confirm and deny my reading of the tape and is advancing my confidence in my "gut" feelings from my own indicators.

Rock - I second that. You posts are insightfull. Thanks for your efforts.

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