Getting There

Dear Readers, I hope you are as excited as I am. Cause the day when all things may be falling in place is approaching. One look at the Pressure Gages conjures the image of what happened in early March. The distribution seems to be taking it's sweet time and if we have couple more days like that, it could be an incredible gift from the creator. Also look at another graph which shows basically the movement of the earlybreakers and latestatyers ( proprietary concepts). When the sum total of these goes high and rolls over bad things happened in the market. I leave the rest to your imagination. GOLD not ready yet, ENERGY looks very toppy to me. So, barring the geopolitical impetus ENERGY and ENERGY stocks should go down. Interest rates close to turning down. $ weaker last couple days, exactly as doctor ordered. Good Trading

Limits

Dear Readers. Today's limits.

N QQQQ 47.06 - 47.56
N GLD 66.23 - 66.59
O USO 47.85 - 48.79
N ECA 60.71 - 63.73
Yes, ECA hits 63.63, it looked like a long shot, but our limit was practically hit?
N SPX 1529.83 - 1538.41
N TSX 13935.19 - 14158.47

Jim Taylor, JD said...
Looking for UP Wave to END by 09:38 PDT
Resistance at 13689 DOW , 1540.56 S&P500 and 2613.72 NAZ
6/04/2007 9:27 AM
Jim Taylor, JD said...
NYSE at Resistance: 10050.06
6/04/2007 10:06 AM

Jim Taylor, JD said...
DOW and S&P 500 approaching Resistance:
13689 and 1540.56
Jim
6/04/2007 12:24 PM




Good Trading

Jaws Open Again

Dear Readers, look at the Pressure Graph and you will see that the JAWS are open again. Somebody/something will be swallowed. But again, I would like for the JAWS to stay idle for a couple more days. To accumulate the suckers on the upside. So, so then market could come down hard on them. Besides couple targets are still hanging unreached. 1550 on SPX and 48.25 on QQQQ. Gold Is showing some signs of life as I suggested "long time ago" ( to wait until June/July with gold). We are getting close to purchasing gold, but hold on not yet. Dollar got stronger as suggested and a bit weakness is desired/possible next 1-2 days. After that $ higher... Who would have thought of this. We did... We stated, for months, here and to the world at large ( http://www.safehaven.com) that in May/June $ will turn. Please note, we will be wrong often and spectacularly, but our turn has not come yet(::). So, do not mortgage the house following our forecasts. We do not promise profits( even as we have made profits online, live for all to see), but we promise help to navigate the markets, learn and have fun. Interest rates rising, until stocks finally broke, which will be "announced" here.
Good Trading

Back To Stock Indices

Dear Readers, You know, by now that when we get a high Sell Pressure readings we get into the countdown. We are now into the second day of such countdown. Frankly, more of these countdown days better we like. Before the big drop in March this countdown has lasted to 5-6 days. That is important, cause what we have here is the principle of distribution. More days the stock stays sideways/littleup after the sell signal better the chances of distribution. More suckers have loaded up on stocks. That is why we like those kind of situations. So, relax and watch the gages, let's hope that we get 2-3 more days of distribution.

Has anybody noticed 5% 10Year Notes? Thanks

To Dear Sqroot's comments. I think he means and I agree that hitting actual higher number on SPX than the high of 2000 will be a very big psychological point. It will convince everybody and their mother about new bull market beginning now. If/When market turns down after that and closes weekly lower than week before I believe that will be a historical moment, meaning of which will only be known to the suckers "at large" years after...

Good Trading

Limits,

Dear Readers, today's limits.
Attantion O - OLD, N - NEW.
N QQQQ 47.42 - 47.85
N GLD 65.93 - 66.27
O USO 47.85 - 48.79
N ECA 61.63 - 62.23
ECA nice sell at 3rd (62.55) resistance for today with exhaustion bar to boot, I got 100 points yesterday from similar point.
Risk is 62.95 new high.
Well So far, so bad in ECA, But willing to give all 75 pts to 63.30 5th resistance, now at 4th 62.91

Doubled down on ECA at 6304 12:28 ET Now gaining. Ready to collect on exhaustion. DONE, let me explain. This was not a well attanded trade. I was mistaken to watch 5 min bar chart, instead of 15 min. With this stock being so volatile, one can not do that. Resistance levels were alos looked at 5 min charts, which screwed things up and, I must have waited for the stock to reach the old high around 63.25 etc. So, there all things I have done wrong with this trade and ended up makeing few bucks.

N SPX 1527.83 - 1543.56
N TSX 14025.19 - 14175.47
Update about Canadian, Dollar. Is 1.0650 not stopping the CAD and is 1.02 in order here? Looks like too far to go there. We shell see. I am not yet convinced, but one thing is clear, there is no clear point to sell at for now

Well, Clarification

Dear Readers, below I say watch the ZOO... etc. Well, the true facts are that banks hedge funds, big currency traders, have all kind of strategies in motion and some of these players have power to move the markets to fit the strategies as well... Surprised? Be not... When you hear banks/brokers made enormous amount of money in trading, believe me they move these markets with options , exotic options and all kind of BS strategies, but as long as somebody is on the other side of the contract anything goes... So, you can imagine and it goes on all the time. That is why, please stay of of the things you do know or have no good advice for. Good Trading

Even Closer To Sell

Dear Readers, Markets seem to use every reason to stop out innocent traders. No matter what the news, you may notice that currencies will go higher and lower at the same time. As if all they really want to do is to get novice traders out. Well you just saw the circus again at 8:30 this morning. Just stay on the side and watch the ZOO. Stock Market has made another BS move "higher" to scare the innocent again. Nobody notices that SPX has not Even reached 1550, which I said will, most likely, be achieved before the top. They need more suckers, you know... All the Rest is just commotion. Gold Higher, but should not go much higher here. In any case, I would not advice play with gold without strong protections(stops, hedges) etc. Stocks in the countdown for sell we are in the second day of 1-4 count. Interest rates will go higher until Stocks break. Good Trading