Thursday, February 28, 2013

Rally on nothing

Feels like a wave 2 to me.  A lot of the internal indicators I follow are saying to me we are in selling mode.  Still not sure how I feel about /YM... but tomorrow would seem to be breaking point for the bearish case if it intends to break.

Monday, February 25, 2013

Let it Ride!

In case anyone was wondering or couldn't figure it out, the last count I posted has been COMPLETELY RIPPED APART.

So instead of waiting on a fifth, it was complete as a 1 or an A.  2 completed this morning and we have a 3 of 3 on the board.  1488 hit, but it's no longer the target. 

"How do you deal with the /YM high this morning?"  Basically, like this... It lagged, the others did not truncate, and thankfully im not positioned in DOW.

Big Head and Shoulders on the Nasdaq.

The way to play this move is to look for extremes in your indicators matched with "reversal".  I really dont think this is the big one, at the same time it's not an average correction, but anything is possible.

I watched a video the other night on some traders because, let's face it.. I'm moderately obsessed.  One thing stuck out was this guy sitting in a plush house drinking wine like it's water and in a full reclining position talking about how easy making his money was.  It's obviously not that easy, but his advice came in two blocks of hard truth.

1) Win every day.
2) Let it ride.  If you're winning, bet more, let your winners ride.

While #2 can get you in trouble quick, if you abide by rule #1 it's not a problem is it??

Thursday, February 21, 2013

1488 = 1505 - (.618 * 28)

1488 = 1505 - (.618 * 28)

Bartolomeu Dias (Portuguese pronunciation: [baɾtuluˈmew ˈdi.ɐʃ]; Anglicized: Bartholomew Diaz; c. 1451 – 29 May 1500 [1]), a nobleman of the Portuguese royal household, was a Portuguese explorer. He sailed around the southernmost tip of Africa in 1488, the first European known to have done so.

Wednesday, February 20, 2013

A Good Day to Die

Some time in the early spring of 1876, Sitting Bull climbed to a hilltop, seeking a vision. In his dream, a great dust storm swirled down upon a small white cloud that resembled a Lakota village. Through the whirlwind, Sitting Bull could see soldiers marching. The little cloud was swallowed up for a time, but the storm eventually dissipated and the village emerged unharmed.
On June 21st, Custer met on the Yellowstone River with Colonel John Gibbon and their superior, Brigadier General Alfred Terry.

Terry ordered Gibbon to march to the mouth of the Little Bighorn, while Custer and the Seventh Cavalry would try to locate the Indians and drive them down the valley toward Gibbon and annihilation.

As Custer rode off, Gibbon called out to him, "Now Custer, don't be greedy. . . . wait for us."

"No," he said, "I will not."

"This country is my country now, and I intend to stay here and raise my people to fill it. We did not give our country to you; you stole it. You come here to tell lies; when you go home, take them with you."
-Sitting Bull