Friday, February 26, 2010

long one unit at 1098.50


Nick said...

Good luck on this trade. As you pointed out, the market has had the inability to follow through with bad data all week. daily sma 100=1096.5 50=1109.5 20=1088.16

Teich said...

Nice entry!

NQ was showing positive divergence; look at AAPL & GOOG run.

roguewave said...

1106ish may be all for am...then slackoff for dullsville...then pm ramp...this week trendline hi was far next week 1105

Sue said...

How can I get this update instantly in real time with sound alert? Any suggestion will help.



Teich said...

Sue: follow Carl on Twitter. Then enable update via your mobile phone.

Scott Pundit said...

Sue, Update Scanner a Firefox extension is not instant but within 30 seconds and has visual and sound alert. I use it to track Carl's trades quite nicely.

Nick said...

Thanks for asking Sue. Thanks for answering Scott... Now, if we can only find a way for this to fill an order. haha

Teich said...

IMO, it is better to learn how to fish, instead of following Carl's trades robotically.

I think Carl has done a great job showing his readers how to read the tape, etc.

andi said...

SPX still stuck below 50 SMA//i will not be long here

Kishore said...

Teich, I agree.

Those who are looking for a perpetual money machine here may be disappointed.

Maybe, only Goldman Suchs has an exclusive franchise but they are also in collusion with the government.

It also takes a relentless amount of greed, grease and criminal behavior to run that "machine".

Sue said...

Thank you for all of your suggestions. I have just started reading his book. I will read his archive soon.

I have only follow his blog since last week. I am very impressed. Would like to learn all that he would like to show us.


curt said...

kishore if your so convinced that GS, govt and others control the "machine" why dont you just get long, and stop complaining about it?

pimaCanyon said...

what Curt said!

And if you believe GS is running the show, better be careful. They don't like it when folks start bad mouthing them. Better watch your backside, Kishore.

Teich said...

Hi Carl.

Using a few thousand stocks, I counted the number of bullish versus bearish breakouts after an NR7 (narrow-range 7) on the daily. I got very few bullish and bearish counts, which typically correspond to a "dull" tape. Is this what you are seeing?

Typically when the counts are low and the market is kind of at a swing high (which I think it is at), it might turn soon.


Wags94596 said...

All of the E-Wavers are still looking for the elusive P3 to begin. Prechter's been short since August 5th (7 months now) and elliott wave blogs every Friday are littered with claims for an impending COLLAPSE of the equity markets on Monday.

Today is no different than any other Friday for the past 7 MONTHS!


Teich said...

Btw, my data were indicating that the market possibly reached a swing high. I was not calling for P3 down or SPX 400.

George said...

Wags, which blogs are you talking about?

Nick said...

If anyone is interested here is the $SPX the way I see it.

Have a great weekend!

Teich said...

Hi Carl.

The dullness of the past 2 days can also be seen in the low bull and bear scores calculated using another quantitative method from this post:

However, since next Monday is first of the month, we might get a "mutual-funds" Monday where new money comes into the market.

Since you remain long over the weekend, I understand that you think otherwise.

RBharol said...

Problem is not with the bloggers.Problem is with the Elliott wave theory itself.

There can be so many counts at any instant of time that it is almost impossible to trade them WITHOUT using any other technical indicators along with them...

Even the Wavers use other TA along with waves to trade. I tried to tell that to a blogger and he threatened me to ban me!

Redwinger said...

RB I don't know anybody who uses wave counts ONLY.

That would be like using THIS blog ONLY.

Personally, I look at Carl's opinion and say "hmmmmm" every time. Then I put my own knowledge base against it and usually say "hmmmmm" again.

Everybody is wrong a certain percentage of the time, and only those of us who aren't out to impress anybody can do this without wagging our finger under someone else's nose.

Anybody who is threatened by your opinion to the point that he either wants to ban you, or wants to denegrate your actions, probably is used to getting his ass beat by the market and his only game left is to act like it ain't so.

Adsense said...

Hi carl
I mentioned my version of the mid section count a while back . at the time i had 2 dates i was watching . march 1st and march 15th for a turn to the upside .
if the market turns down from a high monday then i would conclude the following . april 2 2009 point E sept 23rd 2009 point j and also minor jj . march 15 16th point A
this as a low would then project an important high between aug 7th to sept 4th . 1071-1064 is now important support for the cash spx
1116-1118 resistance as is 1127
my bias is we get a fake out shake out into mid march and then the run to the upside comes .
we should see soon enough .
some cyclical stuff i have posted
if your interested yet i dont have this midsection posted at this time .
good luck joe