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  #201 (permalink)
Market Wizard
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Total for Week1 +11 pts
Total for Week2 +13.25 pts
Week 3 - no data
Total for Week4 +27.5 pts
Total for Week5 +11.95 pts
Total for Week6 +50.6pts
Total for Week7 -9.75pts
Total for Week8 +7.8pts
Total for Week9 +6.0pts

Sum 118.35 weeks=8

Weekly average 14.79 pts

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  #202 (permalink)
Market Wizard
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If you register in advance it is free.
Info:
World Resource Investment Conference - June 5-6, 2011 Cambridge House International Inc.

Vancouver 5-6 June.

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  #203 (permalink)
Market Wizard
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Edit:
The bulb was originally donated to the fire station. It was designed by Adolphe Chaillet, who competed with Thomas Edison to make the bestlight bulb in town. With the exception of a brief period in 1903, a week in 1937 and some power outages between then and 1976, the light bulb is still shining.
Despite his design, Chailet was never as successful as Edison, even though his bulb was proved to survive higher voltages. Bulb protector Steve Bunn said the secret of the light’s success was engineering. He said: “They certainly don’t make them like this anymore, it’s a real sign of how some things were better made in the past.”
“The man who invented the bulb was Adolphe Chailet and he sounded by all accounts to be a very serious person. But when it comes to spark, he did perform an experiment where several competitors, including Edison. All the bulbs were subjected to a test of increasing voltage, and exploded, all except for Chailet’s, which just got brighter.”
World’s Oldest Light Bulb Still Shining Bright After 110 Years [Video] | TheBlogIsMine Dot Com
------
"The hand-blown bulb is recognized by Guinness World Records as the longest burning light bulb. "Nobody knows how it's possible. It is a 60-watt bulb and it's only turned on for about four watts, but nobody knows why it keeps burning. We've had scientists from all over the country look at this light bulb," Lynn Owen of the Centennial Light Bulb Committee says.
TIME NewsFeed reports that the bulb, which was designed by Edison competitor Adolphe Chaillet, "endured some initial glitches in 1901, a fraught week in 1937 and some random power outages all the way up to 1970s." Since then, however, the bulb has remained on.
A "BulbCam" captures the bulb every 10 seconds, you can watch it here.
The light bulb has become a tourist draw for Livermore. The Centennial Light Bulb Committee is throwing a neighbourhood party in its honour this Saturday.
World?s oldest light bulb still burning bright after 110 years | Good News - Yahoo! News

--------
Does anyone know what the filament is made of and what the gas inside the bulb is?

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  #204 (permalink)
Market Wizard
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Here is a simple retracement example.
You buy at the 25 % retracement, as it is close to the uptrend line and put a stop at 50% retrace.
When it moves to 0% you advance your stop to the 25% retrace (so your stop is now at break-even) and continue this adjustment each 25% at it moves in your favor. You can set a target at 100 % extension (here it is at 1291.75).

Your risk was from the entry of 1279.25 to the initial stop of 1276.25, or 3 pts.
Your target is 1291.75 (so 1291.75-1279.25)=12.5 points.
Once price is at 0% (1281.75) you make you first stop adjustement and from this point on you have no risk in the trade.

Deciding on your target - has to do with the resistance levels and stop-running. If you were less optimistic you could pick a different level e.g. +50% (1286.75). Of course you could scale out taking part at +50%, 75% etc. and you can also scale back in as long as the stop is at the initial entry or higher and the trendline isn't broken.







jour1
https://farm4.static.flickr.com/3257/5856471633_aab43f4386_b.jpg

jour3
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jour4
https://farm3.static.flickr.com/2712/5856471645_6f9705786c_b.jpg

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  #205 (permalink)
Market Wizard
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Wednesday 20 July, 2011

Things are a mess. I am way, way too tired.

I lost some time on the weekend and have been rowing hard to get bck on schedule- but its hopeless.

Yesterday was a late start and by the time I got things together I realized I had a buy at open signal - which would have been perfect as it turns out.

Then I had a set price locked in my head for the high - and forgot to check obvious things like:
+11.25 in o/n
+0.25 true gap up
+8.25 Yclose to Open

Oblivious to all these "this is an upslash day" I set an alarm for my "prix fix" and took a nap. The nap was a good thing - the alarm was a bad thing. I woke up forgot all my rules sold against the trend and late in the day, and took a bath on the trade.

One of my rules is:
If I'm not in a trade before 10am then no trading later in the day.

Topping things off is that my aging computer has been acting weirdly the last few days and I had so much trouble getting it just to boot up that I'm afraid to turn it off. So its staying on until Friday when I face courageously the computer demons Saturday morning strengthened by good sleep in.

-----
Strange things are afoot in the markets - "ah OK dude thanks for the obvious!"

With Obama and the debt ceiling dance, set to the music of PIIGS and the lyrics "It ain't just Greece anymore." craziness abounds.

To think the pompous Moody's and S&P are pontificating and wagging fingers about USA credit regrading - after they are the ones to stamp their blessings of triple A on bank bundled credit crap (mortgage-back madness) to be sold in glistening fresh Suranawrap - tied beautifully with a red ribbon and boosting a shiny AAA gold seal ...

ah well ... no bad bankers in jail ... no bonuses taken back... trillions of the taxpayers dollars into the sinkhole they created.

And the average sheeple still believe they live in a democracy with a vote that is something more than a mind-numbing placebo.

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  #206 (permalink)
Market Wizard
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So now that the trade is progressing we draw a downward trend line


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  #207 (permalink)
Market Wizard
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I needed to find something positive.

I decided to go to Louise Hay's website.

I am a magnet for all good. I accept that which is mine.

Louise Hay

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  #208 (permalink)
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Heyy Ian, try this indie (unless you have it already?)

i see that you use the trend lines a lot in your trading,
and this indie is pretty sensitive especially if your charts are set @ the BID price

.....make sure that you unlock all the trendlines!

make a great holiday my friend








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  #209 (permalink)
Market Wizard
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End of Sep

I no longer post in the CL 2011 thread but I am maintaining, albeit in a lazy way, the account.

Initial Cash Balance at Start of 5 May = $20,000
Holdings =1 Nov short
1 at 88.18

Close 29 Sep 2011 78.53
Open equity 9.65 * 1,000 =+$9,650
Cash Balance = $75,490
Net equity $85,140

It looks to me that there will be a third test of the low.
Will it fail? I don't know but I imagine it will.
Have far will it fall to if is fails? no idea but probably at least 1/2 of the distance from high to low, that is 1/2 of of 27.78 (101.39 July 25 to 76.61 Aug 8). Anyone who is interested in more timely updates contact me via PM.
(Unless you hate the nature and the environment then don't contact me .... :-)


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  #210 (permalink)
Market Wizard
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HXD to trade TSX


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  #211 (permalink)
Market Wizard
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typo on graph
should be 9.70 for 1/3 line not 10.30

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  #212 (permalink)
Market Wizard
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ES 60 mins 3 Oct to 28 Oct 2011
https://farm7.static.flickr.com/6240/6295458583_089432c5cd_b.jpg

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  #213 (permalink)
Market Wizard
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Earlier we had an HXD chart
and on it we had
"buy less that $9.50 and above trendline."



Below we have the results so far.
You bought at $9.50 or less on nov 3,4,7 or 8th




HXD.TO Historical Prices | HORIZONS BETAPRO S&P/TSX60 BEAR Stock - Yahoo! Finance

You are up from about $9.40 (nov 8th) to the current price ($10.60) so
+$1.20 on $9.40.

This is +17% in 10 trading days.

Next time you hear a wise-cracker say that chart reading doesn't work, you will know that they don't know what they are talking about. (though like any skill an boomkoof can make a muck of it.)

The target given earlier was:

"the high red line"
which is in the +$12.50 area now.

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  #214 (permalink)
Market Wizard
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Here is an updated chart:

If you're not in the trade then on a pullback to the uptrend line you could buy
(e.g. ~$10).

Partial profits at $12.50.


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  #215 (permalink)
Market Wizard
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holiday hours

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  #216 (permalink)
Market Wizard
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The central banks got together to provide USD lending to european banks as an emergency move which some say was motivated by the potential collapse of a French bank.

There was a large jump in the markets - no doubt aided my US govt buying to rig the markets.

This provides a good price for buying HXD.to (HXD moves inversely to the TSX). Friday's low of $9.71
$9.39 would be the best price it would be the the fourth(?) test of the low and may well fail. It's a bit dicey going in at this point with so much market manipulation going on.

On the side of a buy is the gap in last week's chart 10.59 to 10.22 so closing the gap favors a move to 10.59.

If going long on Monday in the 9.71 area you could sell some on 10.59 (which could happen by Wednesday).

prices


chart

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  #217 (permalink)
Market Wizard
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sounds like a good way to ensure protective stops have no protective value in a fast market.
Good to know that IB feels it is important for clients to take the role of market makers and provide the liquidity and "fair and orderly market".


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  #218 (permalink)
Market Wizard
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Wednesday 7 Dec 2011

So Monday's low was 9.66 or 5 cents below the low of $9.71 of Friday.
Tuesday's high was $10.15 or +49 cents. (Sell Day)
Today's range was $10.19 to $9.84 (Sell short Day) with rise to 10.19 from 9.66 = +53 cents.

This gives a Buy day target for tomorrow Thursday in the $9.80 area see green circle.


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  #219 (permalink)
Market Wizard
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Thursday 8 Dec 2011

So today it did go down into the green circle the objective area.
The objective was meet in the morning which is what you want for a buy day.
FE=LE (first end = low end).

The low was 9.92 in RTH for HXD.
(An even better trade was about 7:30 - if you were trading ES.
For the ES you would be shorting as the HXD is the inverse of the market.)

The last "rally" (buy day low to sell day high), so our objective for a sell target tommorrow is 10.41.
-see calc in picture.

In ES terms we had and RTH high (FE=HE) of 1256.25 and a fall of 25.25
(On Monday 5 Dec -3 days ago it was (FE=HE) of 1266.25 and a fall of 22.50)


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  #220 (permalink)
Market Wizard
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In The Taylor trading system there is a 3 day cycle.

Today was the short sell day for the HXD (I have shortened that to "short" on the graph)

On Thursday we had a buy day with a low of 9.92
Today, Monday, we had a high of $10.47.

The difference is 0.55 or +$550 on 1,000 shares.

Tomorrow is a buy day. So you are looking to buy (and you would like the buy objective to be met first).
So you want the FE=LE. I have computed the decline for 1 day and for two days with an average of a -$0.25 decline.
Using $10.47 we have estimates of tomorrows low at $10.20 to $10.24



Graphically the estimate is the blue circle.



With the decline of the spx so sharp (and the rise of the HXD so sharply up - with a gap today), my feeling is that the resistence levels of 10.13 and 10.19 will not be tested and it is the higher 10.20 to 10.24 that you will have to pay.


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  #221 (permalink)
Market Wizard
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Tuesday 13 Dec, 2011

Today was the HXD buy day.
We had two zones (ie potential target buy levels)
one from the Taylor system
one from the chart which was lower the circle and also the resistance levels on the 15 min.
(it turned out it was the resistance levels)



---------
I made the mistake of posting in the astrology thread was a bit upset by the closed minded people, which reminded me of the evil Church and its inquisitions and torture and killings. Ironically astrology was painted as superstition and one of the posters made a comment about the world being flat. Of course, that was the view of the mainstream scientific thought of the day and anyone who thought differently was branded heretic, "superstitious" etc. The reality was that astrologers had known both that the earth revolved around the sun, and the it was not flat for centuries. Indeed it's diameter had been actually estimated (only 50m off the actual) in ancient times several hundred years BC. (BTW astrologers and astomomers - were the same until very recently.)

In the wiki link this part in not true "Kepler was the first to devise a system that described correctly the details of the motion of the planets with the Sun at the center. "
Astronomy - Wikipedia, the free encyclopedia


"Ironically, for much of mankind's history, astrology and astronomy have been classed as the same science, in fact it is only fairly recently that they were split into different disciplines. "
Astrology and Astronomy, Are They So Very Different?

-----------In any case I had a poor sleep and got up late and once the computer warmed up etc missed the buy price by a few pennies.

Action: Buy
Quantity: xxxx
Symbol: HXD - HORIZONS BPRO S&P/TSX60 BEAR
Market: CA - Canadian
Price: $10.11
Order expires end of: Day
Order Date: 13-Dec-2011
Time: 10:07:38 AM EST

no fill and it move away up to 10.29 a several minutes later, so I killed the orde rather than chase it.
(tonight I think I'll enter an sell order before I go to bed. Entered 10.89)






Oh well.

As you can see the rally was so strong we achieved a 2 day rally in one day!



(I haven't read enough Taylor to be sure what you do in this case, but I think if you didn't sell today (ie the smae day) and get a high opening in the area of yesterday's high, 10.65, early in the day you sell.)

Adding the differentials on highs of 26 cents to 10.65 would be $10.91. Looking at the chart I would guess $10.87 would be a better objective. However, bottom line is to sell as soon as you see it weaking.

----

Remem ber Taylor developed his book method in the days before computers and online trading. (Also his system was for grains and there was no o/n Globex session.) I will try to be up on time and if it gets to 10.87 area and then weakens I'll sell some of the longs I have.

night!

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  #222 (permalink)
Market Wizard
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aquarian1 View Post
Tuesday 13 Dec, 2011

(I haven't read enough Taylor to be sure what you do in this case, but I think if you didn't sell today (ie the smae day) and get a high opening in the area of yesterday's high, 10.65, early in the day you sell.)

Adding the differentials on highs of 26 cents to 10.65 would be $10.91. Looking at the chart I would guess $10.87 would be a better objective. However, bottom line is to sell as soon as you see it weaking.

..

Wednesday Dec 14, 2011

Well, I shoud have stuck with my own analysis!
("Have confidence in yourself!!")

I put in a sell at 10.69 and then took a nap.

It came back up and through that and made a high of $10.95 - so $10.91 would have been great.
(I left 10.91-10.69 = 0.26 $260 on the table!)

Live and learn!



Here's a visual pic of the rally:



Tomorrow is a sell short day.

the high should be FE=HE and at or slightly above $10.95

difference in highs method gives
$11.21objective

From the chart we could/should close the gap at least => $11.05
If we attain the last high then that is $11.31


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  #223 (permalink)
Market Wizard
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Up too late last night - too much posting.

up late this morning. feel like I'm zigging-when I should be zagging.
I hope to get my old computer going again and back to my efficient old XP and XP prgs.

Really hating this windows7

----------
Ok enough drivel. So today is Short sell day.
I've but in an order for selling HXD at $10.94

going to take a shower - wake up and regroup. - hopefully.

Back :Filled at 10:18:19 AM EST


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  #224 (permalink)
Market Wizard
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aquarian1 View Post
Wednesday Dec 14, 2011

....Tomorrow is a sell short day.
the high should be FE=HE and at or slightly above $10.95
difference in highs method gives
$11.21objective
From the chart we could/should close the gap at least => $11.05
If we attain the last high then that is $11.31

Thursday Dec 15, 2011

Todays range for the HXD is 10.68-11.01 as of 10:51CT
It is slightly above $10.95, though it hasn't closed the gap of $11.05

One thing to mention is that technical analysis on etfs constructed to match percentage changes in an index (HXD is 2 times the daily % change in the TSX index), is subject to some distortion due to this construction.

The HXU is the positive 2 times

Imagine the index as a stock that changes from $10.00 to $9.80 up and down several times.

If you buy the stock at 10 and it fluctuated up and down 20 times and ended at $10.20 and you sold you would be up $0.20. Not so for an ETF on a daily percentage change tracking. You could be in a loss posn.

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  #225 (permalink)
Market Wizard
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no democracy for eurostate

'Who the Hell You Think You Are?' Nigel Farage throws egg in Eurocrat faces - YouTube

'Who the Hell You Think You Are?' Nigel Farage throws egg in Eurocrat faces

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  #226 (permalink)
Market Wizard
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I got to bed reasonably close to bedtime 9pm vs 7pm (local time).

I woke up around 2am and tried to sleep til my scheduled 3:30am wakeup but it was hopeless. Lots of thoughts swirling through my mind this morning. Yesterday I read a thread which seemed to be largely devoted to Beth bashing. (Words like "theft" are no doubt liablous and "despictable" subject from suit for defamation of character/)

More to the point was wise-acres mocking "sure and indicator well tell me to buy and sell" -- well which of the hundreds of other vendors don't claim that?

Perhaps Beth's indicator combination does work well and or better than most commerical systems - heavens know she paid her dues. What would people have her do - drive a forklift?

anyways ......no idea why I'm sharing this.... I guess it's thoughts that keep me from clarity and focus on what I should be doing - right now at this time... which is

"Where will the market top and give the HXD buy opportunity?"

Today is buy day for the HXD.

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Market Wizard
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I have bought HXD at $10.79 at 9:54:28 AM EST


and HSU at $9.33 and $9.31 about 9.02 CT


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Today is Sell Day for HXD.

We bought on Friday at $10.79
I have an order to sell 1/2 posn at $10.97

So is the ES (now 1205) attains a low of the Day of 1197.50 and if
HXD rises 0.014375 cents per PT move in ES
then
HXD would rise to 10.98 (now 10.88)- so I set the order a penny less.


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Market Wizard
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Yah man!

Got my fill!


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Market Wizard
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I was trying to work out the leverage to ES.

I can't really understand IB's margin requiremen so what I did was enter an order for 100 shares of each and see what its margin requirement calculator came up with.
These are the numbers you see in blue.
As the ES is $2,500 for initial day time and its calculator value is about 1.25 times that I think it overstates it by this and I adjusted the amounts I could buy by 1.25.

I also assumed I was buying and selling in round lots of 100 - so 100 shares 200 shares, 300 shares etc.
and rounded down to the nearest 100.


Then I used the change in price from Friday's high to today's (Monday's low) times the amount bought.
So for HSU I would divide my ES profit by 12.29 to see what the reduced leverage would provide.
In this example, a 29.50 point move in the ES ($1,475) would give $120 of profit in HSU (300 HSU).

(But I would need more in the account really because the ES o/n initial is $5,000 and I would need $7.500 to meet my only use 2/3 of cash balance/initial margin rule for maximum contracts.)





(I think SSO I could buy 150 because if I just use the round feature it shows 200 not 100 that I could buy the lower table)

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here's the ES decline from Friday's high to today's low


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order to buy at 10.49

expected low 10.48 or so


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NICE!!

10:05:11 SLD 1 ES false MAR12 Futures 1230.25 USD GLOBEX 2.01 null

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Yah baby!!!

come to popa

Hi TIb!

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down,
down,
down..

I hope!!

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being a little too cheap at 10.49

low 10.51 so far -- raised price to 10.52 for HXD.
10.58 now --
I may have missed it but I don't like to chase it.


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Tuesday 10:58CT

If it (the ES) can form a double top then that may give me a fill on my HXD buy.


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11:02ct
moved buy hXD to $10.55

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Action: Buy
Quantity: xxx
Symbol: HXD - HB S&P/TSX 60 BEAR+A ETF
Market: CA - Canadian
Price: $10.55
Order expires end of: 20-Dec-2011
Special Instructions: There are no special instructions
Status: Filled
Order Date: 20-Dec-2011
Time: 12:01:04 PM EST


time for a break - time for some breakfast!

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disable all smilies all the time??
these dancinf things are bugging me.

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es hourly chart


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buy day - I think.. that is if the sequence stays at 3.
However, yest was a bit unusual - also Iam unsure of what Taylor does at a trend change.

A trend change can occur mid-day and mid-week so you can have a day that is not in the cycle [my thoughts].



so we could be changing from uptrend to downtrend or just taking time out.
I've put a green box around the 3 day taylor uptrend cycles
8 Dec to 12 dec
13 dec to 15 Dec

the last 3 days has a red box around it though it doesn't show well here (dec 16 to dec 20)

The days themselves are coloured
Green = HHHL = higher high higher low
Red = LHLL = lower high lower low
Orange = HHLL = outside day
Yellow = LHHL = inside day

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charts


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I was depressed by all the uglies yesterday and so I took a walk.
(Three nights I have had poor sleep from thinking of them.).

In any case, I returned home and made a determination to stop
(and to change my thinking).


------------------------

I am reading a book from my library:
"The Power of Positive Thinking" - Norman Vincent Peale

I'm on
Chapter 7 - Expect the Best and Get It (p84).

It starts with a story of a young man who had failed at everything and then turned his
life around and had become happy and successful. Norman was intrigued and asked him to
tell him how this transformation had happened.
(he tells his story)

Then he concludes "God and I struck up a parternship."


I liked that.
A good way of putting it.

------------------------


Then I reviewed my life and realized that He has helped me and provided all the resources I need (help, information, insights) at just the right time and in just the right way. He both closes doors for me and guides me towards the ones that are right for me.

I need to relax and realize that if something I think I want doesn't come, that I may have been heading in the wrong direction and that He knows better than I what is good for me.

---------
(Readers note: If the word "God" and "He" distract you (too religious) just mentally substitute The Force or Good Omipresent Divine or whatever. I only use "God" as a convenient short form.)

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Thurs 22 Dec 2011

I've placed both buy and sell orders for today
So far L10.42 HXD and H1246.75 ES (9:02)


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HXD charts for today 22 Dec 2011


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buy day

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Toronto was closed today.

I'm not sure what the effect of a holiday has on the Taylor sequence.
I've kept the count for today.

The other issue is if we have been in an downtrend for HXD (uptrend for ES) - enough to change the count flow.

Looking like a potential double top in the ES


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28 Dec 2011

For the HXD the sequence of days had changed as the ES rallied.

I think it was restored to the uptrend sequence
23- Dec = buy day
28-Dec = Sell day
29 Dec = sell short day.

This would be in line with the ES double top I posted yesterday.

The one day rally (still 1/2 hour to the close) is $0.42 (marked with green circle).
I'm thinking tomorrow might be about $0.47 - wild guess on holiday week.

Spreadsheet snap:

Here's a chart of the HXD:


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Market Wizard
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Wed 28 Dec 2011

Yesterday I posted a chart with the idea that we might have a double top in the ES.

This evening I read
"
NEW YORK (Reuters) - U.S. stocks fell more than 1 percent on Wednesday after a hefty year-end rally and the S&P 500 erased gains for the year on renewed concerns about the euro zone's financial health.
The selloff followed the euro's slide to an 11-month low against the U.S. dollar as regional debt worries prompted a wave of selling, with thin trading exacerbating volatility.
"It seems like the weakness in euro, breaking that $1.30 level, really made investors push that 'sell' button," said Ryan Detrick, senior technical strategist with Schaeffer's Investment Research in Cincinnati.
"But it's somewhat of an exaggerated move, considering that there isn't much volume, and this could end in a one-day selloff.""
source: Wall Street ends 5-day rally on renewed euro-zone concerns - Yahoo! News


Well it might be also be a double top with low volume due to the holidays.

So it looks as if 1200 is easily in the works and if doesn't hold there then the 1140 area (see chart from yesterday's post).

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29 Dec 2011
Here's a stab at an ES estimate for tomorrow
(perhaps a buy caret day?)

(PS ignore the bottom chart that was me fooling around and the red box is the same range as today 18.25 offset.)


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aquarian1 View Post
29 Dec 2011
Here's a stab at an ES estimate for tomorrow
(perhaps a buy caret day?)

Here's how we are doing so far...


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My estimate for the high was Ok (within 2pts) but the low was too high.
Though I am trying again with the low end it may well be little volume and range being the 30th


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Happy New Year

I have decided on some New Year Resolutions
1. Stop arguing with people and stop saying anything negative.
2. Eat more vegetables.
3. Go for a walk each day.
4. Drink more water.
5. Have a daily quiet mediative time.

All the best.

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Tuesday, Jan 3 2011

Markets look like a pre-opening jump. Will be interesting to see if gap up stays open by close.
I wouldn't fade this move though, the first week of trading is likely to be unpredictable and light volume as people get back into the swing of things.

I'm not sure where the rotation stands - I think the cycle may be broken and will need to re-establish itself.

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Guesstimate for today
Tuesday 3 Jan 2012


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aquarian1 View Post
Guesstimate for today
Tuesday 3 Jan 2012

For RTH:

So we had 1273.50 as the open est - and the open was 1273.50
We had 1278 as the high est and the high has been 1279.50 - so far (11:12 CT)

nap time!

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Results of 3 Jan for range est

High est ok (not quite high enough) and range estimate to narrow (i.e my est of the low was too low)


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up late this morning. I had to sleep in. I don't know how well the New Years resolution of a walk a day is going to work - there doesn't seem to be enough time.

No pre-market estimate for today.

Based on yesterday's action I would expect continued narrow ranges for today and the balance of the week.

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Wed Jan 4 at 22:22CT
I'll try to update this estimate before 8:30 opening of the ES.
I'm using a 6.75 drop between Ycls and Open which might be too much.


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Thursday Jan 5, 2012

Late start again this morning.
Estimates made last night were off - usually I adjust them in the morning before opening - of course I was sleeping.

Yesterday, I settled on how to manage the barcharts portfolio -so that's done.

I was a bit disappointed that the gentleman I worked out the options strategy for on the high yield stocks didn't reply of say thanks - as it took quite a bit of time. However, this morning I realized it was a good strategy and therefore perhaps the work I did has come back.

I need to get better at time management. I'm getting too scattered again.

I'll go for a walk and collect my thoughts.

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Market Wizard
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Sunday evening 8 Jan 2012

I slept for 12 hours last night - that makes 7 nights of 12 hrs.
I guess my body is recharging!

I am looking forward to this New Year.
On the 23rd of January the Chinese celebrate the start of their New Year. This year is the year of the Dragon and within the 60 year cycle this is the water Dragon.

Monday marks the beginning of week2 of 2012 and will be the first real full trading week.
I'm expecting volumes to pick up and the RTH ranges to expand.

With the holidays and other factors I'm really not sure where we are in the larger cycle but as mentioned if we top out in this area we should then be starting down with a head and shoulders formation.
However, there is so much manipulation in the markets we are better off waiting until the market confirms this.

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Consolidation breakdown would measure to 1241


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Wednesday 11 Jan 2012

Time management is my problem right now.

My New Year's resolutions included 5 points one of which is a walk each day.
A friend has kindly made me an old Xp computer - so as time permits I hope to get my important prgs installed and running. Many of my mainstay prgs don't run on this windows7 64 bit laptop and it won't allow me to load XP into a separate partition.

Everything seems to take so much longer on the laptop - and the Windows brand USB mouse is hurting my tendons - there is more clicking required and the clicks spring is too strong. Also this Microsoft USB keyboard isn't as good as my old one - one that someone had thrown away! LOL!

Grin and bear it!

Year of the water Dragon starts on the 23 of Jan!! Once every 60 years

The sequencing for the Taylor seems to be broken right now - in this high level choppy market.
Of course he made it for the grains market and before computers and globex so to apply it to ES might be a stretch.

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Wed 17 Jan
I have found that there is only one thing that heals every problem, and that is: to love yourself. When people start to love themselves more each day, it's amazing how their lives get better. They feel better. They get the jobs they want. They have the money they need. Their relationships either improve, or the negative ones dissolve and new ones begin.

Loving yourself is a wonderful adventure; it's like learning to fly. Imagine if we all had the power to fly at will? How exciting it would be! Let's begin to love ourselves now.

Here are 12 Commandments to help you learn how to love yourself:

Stop All Criticism.
Criticism never changes a thing. Refuse to criticize yourself. Accept yourself exactly as you are. Everybody changes. When you criticize yourself, your changes are negative. When you approve of yourself, your changes are positive.

Forgive Yourself.
Let the past go. You did the best you could at the time with the understanding, awareness, and knowledge that you had. Now you are growing and changing, and you will live life differently.

Don't Scare Yourself.
Stop terrorizing yourself with your thoughts. It's a dreadful way to live. Find a mental image that gives you pleasure, and immediately switch your scary thought to a pleasure thought.

Be Gentle and Kind and Patient.
Be gentle with yourself. Be kind to yourself. Be patient with yourself as you learn the new ways of thinking. Treat yourself as you would someone you really loved.

Be Kind to Your Mind.
Self-hatred is only hating your own thoughts. Don't hate yourself for having the thoughts. Gently change your thoughts.

Praise Yourself.
Criticism breaks down the inner spirit. Praise builds it up. Praise yourself as much as you can. Tell yourself how well you are doing with every little thing.

Support Yourself.
Find ways to support yourself. Reach out to friends and allow them to help you. It is being strong to ask for help when you need it.

Be Loving to Your Negatives.
Acknowledge that you created them to fulfill a need. Now you are finding new, positive ways to fulfill those needs. So lovingly release the old negative patterns.

Take Care of Your Body.
Learn about nutrition. What kind of fuel does your body need in order to have optimum energy and vitality? Learn about exercise. What kind of exercise do you enjoy? Cherish and revere the temple you live in.

Do Mirror Work.
Look into your eyes often. Express this growing sense of love you have for yourself. Forgive yourself while looking into the mirror. Talk to your parents while looking into the mirror. Forgive them, too. At least once a day, say, "I love you, I really love you!"

Love Yourself... Do It Now.
Don't wait until you get well, or lose the weight, or get the new job, or find the new relationship. Begin now—and do the best you can.

Have Fun.
Remember the things that gave you joy as a child. Incorporate them into your life now. Find a way to have fun with everything you do. Let yourself express the joy of living. Smile. Laugh. Rejoice, and the Universe rejoices with you!

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Market Wizard
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Do you wonder why I included the above in a trading journal?

Living life is a holistic process.

Each aspect of you combines together to from your life experience. It is from this framework and your currently state of being that you enter into each acitivity in your "external" world. Trading is one aspect of that.

You are a spiritual being, energy being, physical being and intellectual being.

The latter is in context of the other 3 aspects of you.

If you eat poorly and don't get exercise this impacts the electro-chemical enivronment of you, impact your emotional being and impacting your intellectual being.

This is how the above connects to the holistic you, and to a subset of that, your trading.

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Market Wizard
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Friday 20 Jan 2011

Below is a 5 min chart of ES for today with price by volume (horizontal red bars on the right).
Today's range was 7pts < yest 8pt range.
This narrow range action is normal when teh ES pushes above a long-time resistance in into "New" high ground. "New" because in mean new in the last few months (we advanced past the round number of 1300 on Wednesday).

I have drawn horizontal lines for the HVA1310.75 and LVA 1306.75.
You can see that today it spent a lot of time in this area.


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Market Wizard
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I don't use MP in my trading.
However, if I was to try a trade a narrow range day like today -then here is an idea.

1. Wait until 1 hour after the open to see if it will be a trending day.
2. If it isn't then wait for a price exploartion to be rejected. (Today the price exploration was to the down side and after making a low at 1304.75 it started to climb back up towards the value area - confirmed by the opening range).
3. After the trendline is cut by one full bar (indicator bar), enter (long in this case) at the high of the inidcator bar on the next price bar.
4. Use the middle of the VA (MOVA) as T1 and the HVA level as T2.

You can reverse with the same rules.
Stop would be the low of the indicator bar. When price advances to MOVA move stop up to VLA.


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Market Wizard
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Steps in Daytrading
1. Pick one system suited to your personality and learn it well.
2. Create a replicatable trading plan.
3. Progress through 3 phases of trading
4. The necessity of an edge.
5. Money management - Stops, drawdowns and leverage
6. Trade failure
7. Understanding the parameters of your system and endogenous change - why it works - when it will fail.

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Market Wizard
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5. Money management - Stops, drawdowns and leverage
Assuming you have established your trading system and you have determined that you do indeed have
an edge, then connection to money management is next.
Gann writes that you should never risk more than 1/10 of your capital on any one trade.

For the ES at the current time (Jan 22, 2012)
IB Contract Information Center?
action=Details&site=IB&conid=81918684&detlev=2&sess=1327289759
Intraday Initial Margin 2,500
Intraday Maintenance Margin 2,000
Overnight Initial Margin 5,000
Overnight Maintenance Margin 4,000

Let us imagine a $10,000 account.
If we used the average daily range of 17 pts and a stop at 7pts max -> 7/17 (or 41%) then each
stopped out trade is a max of 7 * $50 =350. 10 stopped out trades is $3,500.
With initial margin of $2,500 + 3,500 = $6,000 we can use a rule of 6/5 * o/n initial for RTH
trades.
For O/n trades we might need 10pts max stop. 11 * $50 = $550. $550 times 10 trades = $5,550. Plus
the initial = $10,500 or approximately 2 times the the initial o/n per contract traded.

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Market Wizard
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Tuesday 24 January 2012
We took out the lows in early morning, therefore there is really no reason for it to go down. My estimate for the high was 1310.25 and we haven't quite made that.
So Why down?
The 30 min chart may have had an uptrendline break (see dotted light blue line). We went below it and are now back up into the upchannel. The 50% is at 1310 (showing 1309.98 red line). If we bounce off this (we have had 1309.75 -so far this moringing), then we could go down towards 1298.75 to 1297.25 area.
We really have to break 1306.50 so calling down now it a bit too early. The SMA35 on the 5 is still up -so the trend of the day (TOD) is still up. It could turn into a "long T-top" day, so a short trade here would fizzle.




While I have been typing this ES has moved up slightly and seems to be entering the mid-day doldrums.
ES 3 Min chart

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Market Wizard
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24 Jan 2012

The balance of the day continued at the top end.

I have updated to remind myself of 2 learning lessons:
  • If 80% of the expected range is in the OTW then don't expect an intraday change of trend (ICOT).
  • Don't forget you SMA35 guideline.
Neither of these are new lessons. However I seem to be in a loop and keep repeating my learning.

I hope once this MF Global claim form is behind me I can mentally move forward. I have been pretty good about my resolution ofr taking a walk a day. However, I'm back to the old "not-enough-time-in-the-day" situation. Now, however I just am not going to stress about it. If it doesn't get done it wasn't mean to be.

Keep smiling - its the only life you've got
-unti the next incarnation LOL!

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Market Wizard
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25 Jan 2012

I was going to make a post this evening - but I'm tired

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Market Wizard
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Thursday 26 Jan 2012

One of the things I try to estimate is the next day's range.

Most of the formula are in my XP based system which I am working on restoring. (I am currently working on a Windows 7 laptop - my back up system).

The estimate shown is very crude. It is simply fitting a line to the data. After the range stopped reducing (here the 24 Jan) I changed the fitted line to +1.5 pts/day. The 3d MA line (17.5) is currently above the fitted line (17).

I am working on some ideas for prediction of range expansion and range contraction though none are shown here.


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Market Wizard
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Monday 31 Jan 2012
Here's is my estimate for the rnge for tomorrow.

Today's accomplishments include getting up within 30 min of the schedule and estimating the low end=FE to the tick.

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Market Wizard
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Tuesday 31 Jan 2012

Accomplishments for today:
1. Picked FE=HE which was correct HE=1317.50 @ 8:39. This = the o/n high so there was no stop-running of the o/n high. This makes sense (after the fact as the o/n high took out yesterday's RTH high by 7.50)
Learning Lesson: Add stop run to RTH high and subtract from RTH low to give you levels to check against the following morning to see if the stops were run in the o/n session.
To do: keep a sheet with days across the top and min max levels. Do standard ext/retracements to the ETH min max and write above the day's of the week and below the bottom. Keep "weekly" high/low (running 5 day max/min) and 3day). Graph as simple boxes that give a clear view of 3d and 5 day stop/runs.

2. Got up within 1/2 hour of alarm.
3. Got copy of MF claim form emailed as backup.
4. Mechanical estimate of H/l was very close
High:1317.51317.00=estLow:1302.251303.00=est


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Market Wizard
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Trend direction is sideways


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Market Wizard
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Wednesday 1 Feb 2012

Accomplichments:
1. Dir 30 est was slightly upwards +> FE=HE which was correct.
2. Called 1323.50 for high before 10am correct.
3. Taylor "Buy Caret" day - correct

High:1327.00 vs 1328.25=est
Low:1316.75 vs 1313.00=est

Range est was too wide with est of 14.25 versus 10.25. In big moves in o/n - last night was 16.50 - very wide- and the o/h high of 1320.25 pushed through yesterday's high of 1316.25 we can expect a narrow range in a high area especialy with close to open of +10.25. For such conditins the on factor is 0.625

Today's day type was "Checkdown"


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Market Wizard
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For Friday 3 Feb 2012

As I had gotten up early Mon-Thurs I was very tired on Friday and slept in.
I have keep my resoultion of a daily walk and only missed one day since January.
I have also resolved to get the sleep I need and so if a wave of tiredness comes over me - I sleep.

The markets edged higher during the week and exploded upwards on Friday at 7:30am rocketing 1323 to 1337 in 8 minutes. that is +14pts.

In the prior 5 day the lowest high of the week was 1309.50 (Tues the 31 of Jan) and the highest high was 1327 (Thurs 1 Feb). So in 5 days the high had only changed 17.5 pts

Friday's high of 1342 is only 25.25pts from the RTH 2 May 2011 of high of 1367.25 and 31.5pts from the ETH high of 1373.50


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Market Wizard
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narrow range inside day today. 1340-1333.75 = 6.75pts
(everyone waiting for the next news?)

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Market Wizard
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Thursday 09 Feb, 2012

In the o/n session we had 1340.75 rising to 1349.25 (2-1 sequence), and then in pre the high taken out with 1352.75 @ 7:30 spike. So yest ETH high 1348.25 has been taken out by 4.5 pts. In not sure of the TTT sequence but with yest as a Sell day that gives today as sell short day. If so that gives us finishing the day towards the low end of the day but close to or slightly above yesterday low of 1338.25.

The 3d ma of range is 10 and with H1350.25 at 8:33 L1340.25.

We are down to 1341.25 at 9:43CT (now).
This could be a LE timing.


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Market Wizard
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3 day Taylor sequence


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Market Wizard
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Friday 10 Feb 2012

Trendlines on the 30 min ES chart

I noticed this this morning. I had drawn parallel lines on the 30 min chart.
This morning, as I was gathering my morning data, I noticed that the price had bounced off the lower line. Had I known this would happen - it would have given a nice target for the ES drop.

ES RTH highs Mon- thurs: 1345.75, 1345.75, 1347.50, 1351.25




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Market Wizard
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Monday 13 Feb 2012

I wasn't up til 4:32PT (6:32CT) so I was rushed gathering opening numbers and missed selling 8:32 H 1350.
I had Dir 30 as down to 1243. The first direction was down and to 1242.75 @ 9:45. Then we went back up to 1350.50 @ 13:41 the HOD.

FE=LE this was correct.

Today was also an exact reply of last Thursday, 9 Feb. The market made a "V" day in RTH. It opened high, when lower and then returned to its opening levels.

I had estimated 1338 and 1350 for a 11.50 range.
The low was 1342.75 so I was 4.75 too high. The high was 1350.50 so 1350 was fine.
(tomorrow may be a replay of last Friday a downday and Sellshort.)

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Market Wizard
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Tuesday 14 Feb 2012

I was up at 4am so a bit of an improvement.

I had Dir 30 down to 1340.25. First move was down. - so correct.
I had LE estimated at 1338.75. LE was 1337.75. - so correct.
I had rng est at 11pts. Range ws 10.25 - so correct.
I felt pleased with the estimates for today.



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Market Wizard
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Wednesday 15 Feb 2012

Very tired today. Slept a lot.
Important resistance of 1352 was broken.
FOMC seemed to be the nail in the coffin.
The uprend isn't broken yet. We really need a close < 1329.

Ranges:

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Market Wizard
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Thursday 16 Feb 2012
Notes made before open:
dir30 = "up to 1344"
FE=LE?
Estimated high = 1347.75
Estimated low = 1337.50
est range 10.25

Actual open
Open: 1341.25

Notes at 9:00am:
low=1338.50 (actually 1338.25 but that's NT charting for you! or perhaps IB jury-rigging at EOD)
so low could be in place
1338.50+9.25-1.5=1346.25
1338.5+9.25=1347.75


Summary after the close:
actual:
High: 1357.25
Low: 1338.50

So with dir 30 we have up to at least 1344 and FE=LE means that the LOD will be first.
So it opens at 1341.25 and after a little head fake falls to 1338.25 @ 8:56. I was alert enough to reconize this could be the LOD as the estimate was for the low to be first and for it to be about 1337.50 +1.50 or - 1.50 so LZ=1336 to 1339
and 1338.25 is in the LZ.
At this point I should be buying.

Wednesday's range was 15.75 so no idea where I got such a low range estimate, but if I had of bought then this wouldn't matter. I would have bailed too early at 1347.75 or if I used the indicators hung in there.

Reality was that I just took a nap at 10am til close.

Once again my SMA35 rule for trend would have kept me on the right side of the trade - If I used it.
And as this was a "Buy Day" in the TTT sequence we expected a low first and then rising up.


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Market Wizard
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This time last year we had a 100 point drop in the ES in 18 days.

Just a heads up to be careful.

Also last years high on 2 May was 1367.25 RTH and 1373.50 ETH. So we are at a potential double top area.

(We have a 1369.50 high so far. )

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Market Wizard
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Tuesday 21 Feb 2012

So far we have had a high of 1367.50 RTH yesterday. Yesterday was a shortened trading day due to Washington's birthday.

Today, Tuesday, we had a high =1369.50 02/19/2012 05:00:00 PM Sunday.
(The RTH 2 May 2011 of high of 1367.25 and 31.5pts from the ETH high of 1373.50)



Though today was only slightly down both the RTH high and RTH low were lower than yesterday.

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Market Wizard
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Wednesday 22 Feb 2012
Two years ago I was very, very sick due to family stress (and the apt heat being off) and Caught a virus. I had to sleep for more than a month. After that I went back to 12hr days but it didn't allow me to totally recover. This year at New Years I made some resolutions: If I was tired sleep and to go for a daily walk. These resolutions cut into my time available for work. Today I was very tired and couldn't get up with the alarm at 3:30am PT (no wonder having been to bed at ~11:50pm!) and slept most of today.

Accomplishments for today:
1. Started on the restoration of my spreadsheets on my XP computer. Data hole from 21 Nov 2011.
2. Got sunrise/sunset times
3. Tried something new with Andrews Pitchfork and the pre numbers -still experimental.
4. Improved MOVA H/L estimate in dailydata spreadsheet.
To do tomorrow:
Check if ninja7 on XP allows copying of data box

The range estimate for today was 9.50 (going +1 to the 3day MA of 8.50)
The actual range was 7.25 (shouda gone -1 hah, hah)


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Market Wizard
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Thursday 23 Feb 2012

Today we had a modest 7.75pt expansion to 13.50 in the RTH session. I am looking for futher range expansion tomorrow.


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Market Wizard
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Here's something from Larry's morning email. I think it is important because it shows how the international banking mafia has side-stepped the political process and shown their "hidden hand" behind the runinng of governments around the world. Recently the Greek prime minister was removed from office (by the banksters) because he had the utter gall to announce he was going to hold a referundum on the EU package. Just imagine the nerve! Allowing the people of Greece, the birthplace of democracy, have a vote on their future? The nerve!
---
Financial Fascism













Before I get into today’s topic I’d like to hope I helped some of you short sellers this morning when you read the very end of yesterday’s missive, “All of this is interesting and shows some weakness but without real volatility, it may simply be a tiny pullback of no major importance whatsoever. Why? Despite the aggressive selling, long term passive buyers were at the lows buying everything in site.Although the market went a wee-bit lower after the open, the passive buyers didn’t cancel any orders; all sellers were absorbed and the market went up just as the central banking meddlers ordered it.

In the prior missive I said “In the latest bank bailout via the Greek people, we learned that Puppet Papademos and Company agreed to more austerity for more cash - $172billion to be precise. In order to get this, private bondholders are being forced to accept higher losses without being paid on their insurance policies (CDSs), the ECB accepts no losses, the ECB retroactively changed all bond language so they wouldn’t lose money which radically changes all bond sales going forward, and Greece will be placed under a new wicked type of Financial Fascism by the EU that will make all decisions for the people of Greece.”

As it turns out, the Financial Fascism is worse than I thought and is getting worse by the day. Sure, I understand that if one “borrows” money one must have collateral that would be coughed up if the loan goes sour but let’s get real – none of that applies here. The Greek people are paying for bad loans made by the European banking syndicate to pay back the very same banking mafia, which was all promised by crooked politicians.

Excuse me, but aren’t the “bankers” said to be so unbelievably intelligent that nobody should ever question their actions as that would indeed question their intelligence? Isn’t it odd that when these same scum-sucking bankers make horrifically bad loans based on the KNOWN lies of known low-life politicians that all of a sudden we’re supposed to feel bad for the banking mafia’s losses? Oh, and then all of a sudden the people who had no say in the ridiculous loan arrangements have to pay for them?

I’m sorry but this is where I get ticked-the-f*c#-off, because the answer today is FINANCIAL FASCISM! The people of Greece, NOT the politicians, are paying the ultimate price. And guess what Portugal, Ireland, Spain, and others – this is your future!

According to the FT (http://www.ft.com/intl/cms/s/fde0e3d4-5e3b-11e1-85f6-00144feabdc0,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2Ffde0e3d4-5e3b-11e1-85f6-00144feabdc0.html&_i_referer=http%3A%2F%2Fglobaleconomicanalysis.blogspot.com%2F#axzz1n2tUh4yi)

“European creditor countries are demanding 38 specific changes in Greek tax, spending and wage policies by the end of this month and have laid out extra reforms that amount to micromanaging the country’s government for two years, according to documents obtained by the Financial Times.

“Among the measures that must be completed in the next seven days are reducing state spending on pharmaceuticals by €1.1bn; completing 75 full-scale audits and 225 value added tax audits of large taxpayers; and liberalising professions such as beauty salons, tour guides and diet centres.”

You see that folks? The Financial Fascists are taking away granny’s meds. Let’s take a detour for a second and consider the USSA. Do you think we can avoid this just because we’re the formerly known country: USA? How is it that the laws of finance stop at the shores of the USSA? Just because our super-large military would make John Holmes (read: other countries) blush by comparison? Really? I seem to remember that Rome, Spain, and England had that same “super-large military” complex. How’d that work out for them in the long run again? Oh wait, but this time its different, right?

By the way, there is an election coming up soon so if you do NOT want financial fascism in this country I would suggest that you vote out the current loser in office, regardless of their indifferent D or R affiliation. Just my 2-cents. Then again, I highly doubt that even that would work in this sickeningly corrupt country. (Not one bankster is behind bars for the housing scam and/or 2008 collapse, etc)

Back to the sacking of Greece…

According to the New York Times http://www.nytimes.com/2012/02/22/world/europe/euro-zone-leaders-agree-on-new-greek-bailout.html?_r=2 Greece may be forced to give up its gold. Said another way - the banking mafia is getting exactly what it wants: Greece’s hoard of 111 tonnes of gold.

In the fine print of the 400-plus-page document — which Parliament members had a weekend to read and sign — Greece relinquished fundamental parts of its sovereignty to its foreign lenders, the European Commission, the European Central Bank and the International Monetary Fund.

“This is the first time ever that a European and probably an O.E.C.D. state abdicates its rights of immunity over all its assets to its lenders,” said Louka Katseli, an independent member of Parliament who previously represented the Socialist Party, using the abbreviation for the Organization for Economic Cooperation and Development.

Ms. Katseli, an economist who was labor minister in the government of George Papandreou until she left in a cabinet reshuffle last June, was also upset that Greece’s lenders will have the right to seize the gold reserves in the Bank of Greece under the terms of the new deal, and that future bonds issued will be governed by English law and in Luxembourg courts, conditions more favorable to creditors.

What happens when the banking syndicate steals the Greek gold and then drops Greece from the EU? Let’s look at a mathematical formula. Greece – gold = Zimbabwe.

Call me crazy but when a bunch of global banking thieves loan money out at interest, they should be responsible for the consequences if said loans go sour. What’s happening, however, is that these bastards are getting away with stealing what’s left of a county’s dignity, assets, and its national sovereignty.

I simply cannot believe that the people of Greece haven’t revolted to the point of a coup d'état – a genuinely new government.

For better or worse, at least the thieving banking mafia wouldn’t be in charge!


Trade well and follow the trend, not the so-called “experts.”




Behold the age of infinite moral hazard! On April 2nd, 2009 CONgress forced FASB to suspend rule 157 in favor of deceitful accounting for the TBTF banksters.
source: www.tradingadvantage.com

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  #293 (permalink)
Market Wizard
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Friday 24 Feb 2012

The estimated range expansion failed to happen. Not too surprising in a week of narrow ranges following a shorten trading day - Washington's birthday, in hindsight, LOL.

Accomplishments:
1. Tested a new estimation strategy which worked great.
2. Didn't get up with alarm. (Normally not an accomplishment but as I wasn't asleep until +2.5hrs to schedule and had a miserable sleep it was a good thing. As the pitifully narrow range is below my rules threshold, 12pts, I didn't try to trade.
3. Installed new IB TWS version for Ninja. (I assumed I needed to upgrade my Ninja as well, which was not the case and the newer version 7 gives me "failure to serialize index" errors for many indicators - heavens know what this means, I don't and then I reverted back to the previous Ninja 7)
4. Did a few exercises. (I have decided to get up from my chair every once in a while and move around a bit. Hopefully I won't feel like I have a broken back at the end of the day.)




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Market Wizard
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Friday 2 March 2012

Not asleep til almost 11pm woke up at 2:20 and got up at 3:30am. Now 5:27pst very tired.

8:27CT - ES now 1370.75. 60min looks like 1362 for lower trendline.

17:04 Actual
High: 1373.25
Low: 1365.00
Range: 8.25



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Market Wizard
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Friday 9 March 2013

Got up late today.

est rng 11.25
act Range:8.00


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Ranges ES



We've had the 1400 number with 1403.00 on Friday. This is the round number close to the 1376 double top.

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Question:

Does decreasing ranges combined with decreasing advances in the high proceed a peak?

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RTH ranges chart

Est tomorrow 10.5

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Corn. Looks like Monday may have been the low(?) with a higher high and lower low.


high

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(from Larry's Monday morning email - sad but true " we know that the world economy is in the hands of fools who remain convinced that they know what they're doing, regardless of how abject their past failures have been. )
The New Normal



Poor market….the folks on TV said you had a “tough week.” In fact, you had the “toughest week” of the year.

Have the bears finally emerged from their caves to come out and growl? They certainly can make a strong case with the global problems from Europe to China to right here at home, including today’s not-so-great new home sales number.

Hardly. A 1% weekly decline in a market that’s already made an 11% yearly gain on a whole lot of hopium can’t really be considered a pullback. There’s a new normal, and this normal has blurred the lines between bear and bull among other things.

As long as Backstop-Ben and the world banksters remain committed to the wholesale printing of trillions of currency units all around the world, things will continue to be askew. It’s hard to even call dollars, euros, yen, and so forth money anymore.


Furthermore, with Ben’s staunch avowal that interest rates need to remain near zero, things can’t return to a real normal. The $16 trillion in debt certainly doesn’t help. Alas, these are just “numbers.”

No matter how much more tinkering with the system lies ahead, we know that the world economy is in the hands of fools who remain convinced that they know what they're doing, regardless of how abject their past failures have been.

Let’s face it: there’s a new normal, and that normal isn’t pretty.



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