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Intraday Stool - Where's Pastor Glad?


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Posted

1295 is 61.8% retrace of recent upleg on NAS

 

Have to bounce here, probably to 1305 ish....

 

Its going to take some time before the NAS cracks big time.... it has to catch up yet to the DOW and SPee...

 

Be patient, as I always am....

 

The stick save should come in here.... I guess someone is going to have to blow up another tower before people wake up to the deflation cycle.

post-3-1046185917_thumb.gif

Posted

Simple Guy,...

 

I am sure glad you decided to stick around.

 

Simply said,... you are one, bad ass dude! :D

 

Thanks for "gett'n it" & for keeping it so simple.

 

Great work!

Posted
"Now stepping into the On Deck Circle.....the PPT"

Call strike two!

Took strike three looking! Next!

Posted
More good news:

 

A combination of the East Coast blizzard, lofty inventories, as well as, softer sales appear to be causing a shortfall in February motor vehicle output. This will be a drag on February IP, probably resulting in a decline of a couple tenths.

 

from SMRA.com

Didn't you hear? They've added a "weather factor" to national output measurements. It's sort of a pro-forma GDP. Now, you'll hear something like "GDP was ______ excluding one-time losses related to weather." :blink:

Bad weather during winter?

 

Maybe there is some sort of pattern to the weather the government could figure out?

 

New government weather data:

 

Temp., wind chill, Temp. w/ wind chill, and finally Proforma Temp.

Posted

I've got a sticky note on my CPU that says:

 

Consumer Confidence

50-60 range could mean market trough

 

It's been there for months.... wrote it down after I came across a convincing article and chart.

SG's mid-50 CC outlook certainly coincides.

 

Worth watching.

Posted

I was wrong -- out of my scalp long on QQQ at a loss; a lesson learned, congrats to SG et al, you are the man...

Posted

SG, thanks for the deflation cycle chart.

It's something that I have been explaining, albeit muddle-headedly, to people I care.

But muddle-headed that I am, I couldnt have said it better. It'll be my wallapaper now (gee, what a nerd huh?!)

 

And I should add, SG you da man!

Posted

I really am leaving now

 

The key thing to remember.... the "pattern" completed at 25.30 on the QQQ as I predicted pre-last week.

 

In Ewaves... when a pattern is complete, its complete... period.

 

The waves will unfold downward.... I dont advise trying to be cute here... I advise adding if you have powder to shorts on bounces like now....

 

SG heading out.... stay calm... and stay short.... IMO

Posted

the lesson i learnt is not to trade against the master :rolleyes: will wait for an entry point again...

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