Sunday, February 09, 2014

Hahahahahaha, my Elliott trader has gone to a "ROBOTIC" video, I have NO stinking idea how they do that, actually, I HATE it, but, wad ever, I get the idea.

I'm doing some house keeping on the site this morning which I'll talk about below, first the chart of the SPX above, my only comment is........WOW!! What a perfect chart, if they keep this crap up I may actually start trying to trade the indexes again, hahahahahaha! It had that very nice BEARISH rising wedge going into early this year, which actually did what it was SUPPOSED to do, that is, break to the down side. THEN, which you may have a hard time seeing on it, it made an almost EXACT two wave corrective move, with the two waves being almost exactly the same length, and in the red circle inside that was a three day consolidation that Toni Hansen call's a "Knee Kick", and the whole thing came down and stopped EXACTLY on the lower trend line that connects from the low last June through the low last October, just really good stuff.
NOW, I follow several Elliott Waver's, and the GENERAL consensus is that this is a FOURTH WAVE correction, and we SHOULD be now heading up into the FINAL FIFTH WAVE for the entire rally going back to 2009, most seem to have targets in the 1868 "area".
This is all well and good, HOWEVER, personally, I'm not going to try and chase it, I'm going to stick with what I've been doing, doing some weekly credit spreads, trading big cap stocks that I KNOW, I'm very involved with the GDX, chasing some earnings gaps, although earning season is winding down, I actually took a shot at TWTR last week if you can believe that, hahahaha, sigh, quite a WILD thing for ME, etc etc etc. IF you notice on that chart TWO of the indicator's that I now consider very important, the ROC and the COPP, Coppock Curve, are both on SELL signals, they actually both made new LOWS, which also goes along with the continuing SELL signal on the $NYSI, which I also keep track of, PLUS, in case you haven't noticed, MONDAY's this year have been HORRIBLE, capped off by that 300 point drop on the DOW last Monday. I mean, I don't know what they will do tomorrow, but the last three day rally may just be a huge Bull trap by Da Boyz, hard to say, it is, we'll know by the end of tomorrow of course. Da Boyz seem to love crushing it on Mondays and then chasing the shorts that they sucked in the rest of the week. The rally Friday was all bull shit of course, if you watched the premarket on Friday after the jobs report we had an almost 400 stinking point swing in the DOW futures, as they spiked it to 650 then took it down to almost 450, back up to 650, then closed us 100 points higher than that at 15,750, the "REASON" being, of course, is it was the second shitty report in a row. They sold it, of course, because it was such a lousy report, and then rallied us because the "assumption" is, is that Yellin will be forced to take back the taper because of two lousy reports in a row, which, of course, means more FREE money for Da Boyz on Da Street. I'm not so sure, she may need one more lousy report next month before she hits the panic button.

I'm looking for some new "Market Timer's" to put in my "Market Timing Blogs" on the left side, I'm open to suggestions. The ones I have are Ok, the latest update on the first five is only two days old, and I still like the "COT Timer", the reason I bring it up is my man "J-Trader" seems to have blown out, I picked up on it because he tweeted on Friday, and it was his first post of the year I think, I guess he's having family problems, or maybe he blew his account out, sigh, he was a lot of fun, I'm looking for "QUANTS", not any of us technical types, like good ole Sam Collins, who seems to flip more than a 50 year old whore in a mining camp. I can't post my personal favorite,, you have to sign up at his site yourself, plus, he's LONG term, as he only issues signals every few months, WHICH, by the way, he just came out with a new SHORT signal on the Third, very unusual for him. I know also that "Ciovacco Capital", who updates on Twitter all the time, has been reducing "RISK" the last two weeks, IE, SELLING, he hasn't posted his weekend video yet as I type this. One I do like, who posts on Twitter all the time, is Mark Newton, , but he doesn't have a site I can link to on my site, he works for Greywolf EP, which only cater's to Institutional outfits, which, for some reason, I don't seem to qualify for, hahahahaha. 

I continue to be a little more impressed with Ross Givens, his latest video is below, you can sign up for his nightly video's at his site,, blogger is not posting those links so you'll have to copy and paste it, sigh, also, I've been working more and more on the "Guru Focus" site that he talks about all the time, I have them on the blog list on the right side, they, MAY, replace my stuff on FinVIZ, although I haven't moved just yet. 


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