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Pulling The Trigger

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Willie looking in the gun

 

Pulls the trigger just for fun.

 

Mother says in tones so pained,

 

"Willie is so scatter-brained."

 

 

From Ruthless Rhymes For Heartless Homes by Harry Graham

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Has anyone heard from BlackBelt ? Miss reading his work....Just finished the Gann book and would appreciate his input. Gann was an astrologer, of this I have no doubt.

Unlike Arch he didnt admit to it....

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Comments and and AM cycle map from Last Night's Anals:

 

Intraday? - They opened with a major blitz that carried the SPX to a retest of the August high. It failed. This action was not about cycles. It was about panic and manipulation. On clearing 950, buy stops were triggered, setting off a final stampede that wiped the slate clean. It's a safe bet that the stage managers shorted into the rally with everything they had, happily taking short positions from terrified public shorts. This was classic distribution. A true work of art by the masters of the trade. They had held below 941 for two days. When that broke, the giant Whoopsaw was on, and within an hour the finger was in on the charts. Within the next hour, the entire gain was reversed and then some. They bounced beginning at 11 AM, doing a 3 hour wave into a low just after 2 PM. The way things lined up, that was the 5 hour cycle low and probably the 1 day cycle low. Look for a little upside follow through in the first half hour Tuesday. The cmap is 937. The 5 hour cycle low would be due around 12:30, give or take an hour. The cycle map below is based on 8 minute bars.

 

 

12202.45.gif

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Meta, good move.

 

Per VectorVest "BuySell ratio" now at unusual extreme transient peak of 3.0 means no new highs, party over.

 

Bear fund at close for me.

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Doc: Listening to any who criticize when they have not put their own necks at risk by full disclosure of their ideas and forecasts, will drive you nuts. Only listen to my bitching. Ignore all others.

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I do not expect the Bulls to just roll over and die without a little struggle. They know that this narrow band 1450-1440 is a major support level. Somebody might have some money to throw at it. I expect mostly chop, until a news event can move the price.

 

Or maybe hte bulls will just head straight for the slaughter house.

 

I did hear a pretty god saying from someplace, forgot where.

 

" I would rather walk behind the Bull Dozer than in front of it"

 

A lot of talk about a ECB rate cut. That could be a fly in the ointment. Does anyone know when they meet? Last time it was on a Thursday, but I haven't checked.

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HUI not looking very healthy on the weekly, although the cmaps show a bottoming 12 month cycle. Wavers think it's a 4.....then 5 up. Who knows?

 

'Golden' crosses (50dMA down through 150dMA) are lousy, but it happened before and the trend was shortly regained. Send to Intensive Care for closer observation. Could be a pure headfake.

 

SharpChartv05.ServletDriver?chart=$hui,uu[s,a]waclyyay[pb10!b30][vc60][iud20!la12,26,9]

 

Metal showing a similar pattern.

 

SharpChartv05.ServletDriver?chart=$gold,uu[s,a]waclyyay[de][pb10!b30][vc60][iud20!la12,26,9]

 

Hope it's all headfakes...........and can't imagine it going down very much, especially when Buck breaks down through 104.

 

CRB still trying to take out previous highs. Very close......

 

SharpChartv05.ServletDriver?chart=$crb,uu[s,a]waclyyay[df][pb10!b30][vc60][iud20!la12,26,9]

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:( Doc, What is all this conflict being dumped on you the past few days? All this criticism, bad news emails, cancelations, etc.

 

I don't get it. This is a voluntary site, everyone can chooseto be here only because they wish to be. If someone is getting burned on trading, and blaming you for their problems, then they need to GET OUT of the markets. Their problem is that they do NOT understand the game, and they are inevitably doomed to failure.

 

So just GET OUT, and stop blaming Doc Stool for your trading failures. Sorry, but it really pisses me off. Whining assholes, failing to take responsibility for their own mistakes. :angry:

 

Personally, your efforts here are greatly appreciated. AS we see your work and efforts, this obviously is mostly a labor of love. The financial reward is no doubt small. I do think there are many here who are very thankful for you developing and maintaining The Stool. And we know that you know that, too.

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If this is indeed the "weak bounce" I mentioned awhile ago, it should find resistance around COMPX 1462. For the SPX that should be, oh, about 927.

 

Fart, XAU didn't make it even to the most recent, steepest downsloping resistance line. It either has further to go, or is one very weak sucker...

 

SharpChartv05.ServletDriver?chart=$xau,uu[l,a]dacaynay[pb50!b200][db][j983656,y].gif

 

Regards,

Vesselin

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Sniff, I agree a pop is everpresent but from what I see yesterday's high has a snowball's chance in hell of ever begin reached. Any pops from here are shorting gifts from the market gods and will peak well below yesterday's highs.

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If this is indeed the "weak bounce" I mentioned awhile ago, it should find resistance around COMPX 1462. For the SPX that should be, oh, about 927.

 

Fart, XAU didn't make it even to the most recent, steepest downsloping resistance line. It either has further to go, or is one very weak sucker...

 

SharpChartv05.ServletDriver?chart=$xau,uu[l,a]dacaynay[pb50!b200][db][j983656,y].gif

 

Regards,

Vesselin

True, but XAU is having a nice day... + 2.02 huh?

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