did I just hear

that the fed gave away 75 billion....

what a fool I may be.... but.... hmmm I'm not convinced... that wave is a compleated wave...

daily spx

this is the SPX...... What about this... We trade down to 1320 20 handles lower... then we get one of those little lame rallies... for window dressing.

this third wave is exceding my expectation... I'm tempted to toy with the idea of an end of the day sell off.......

umn... not.... sure I can keep blogging

looks like we should at least Retest...... Umn.....

Tom MacKity... or however you spell his name... I remember in October.... and he got on power lunch. and he said "I guess I'm the only one who things this market is crazy... and am super Bearish".... and Immediately the market sold of like 100 pts.

Wave 1....

Wave 2....

Now wave 3

red arrow is the possible target.

So... there is still that posibility of some better downside action...

Not heard on CNBC... JPMorgan says we will probably scrape along the march lows for the rest of the year.

Not like I listen to them... more likly to lead you astray...

possible

that that was wave 4... and we are now on wave 5.....

Quite probable we will get a correction out of this..... Most probable to a lower low... Possible one more high......

It's exit time on this hopefull correction....

Well risk management says hope for a correction and set some stops....

Now that we are at the day high... the longs have to earn it... and the shorts are on D-fence.

Well.. Playing with some trend lines... nice little trend here.... market gets down there at the bottom.. some guy buys it for a coule minues.... it's losing me money....

So... If every day the market makes a new low... and CNBC... hauls out somone "seems like the market comes out... and bounces off (insert new low of the day)... yesterday is was 1335, today it's 1330. Day before it was 1340.......

Nice.. well we are trying to make a new high for the day.... Sweet.

lets look at the broader trend

Thes volume spikes are rediculous... Also of note... the volume overall has picked up from yesterday... but it is all in 1 minute spikes......

As much as I hate it it doesn't mean I'm not losing money....

if this is window dressing...... umn.... what can I do about it... but lose money......

maybe cry a little... or something...... that morning low could be wave 5..... It usually pays to see that nice healty Acumulation pattern.....

My thesis.. is that whoever this is, or They are... I don't think they can maintain.... I think they are just trying to keep us up at reasonable levels. I just think that if the market dipps they will be running and cause more damage than they were solving..... I hear markets are efficient that way..

or I'll lose money....

I've been getting cold calls from Realtors and mortgage brokers lately...must be getting desperate... Huge staffs with nothing to do, but to start cold calling...

we continue to go up....... this doesn't show good healthy buying..... and if this does break down, it should take this market down another leg... They are trying to fight this tape too much... I also wonder if as they buy it up, they are rolling out of the positions as best as they can......

I don't know.. still the safe entry is that blue line..... We are coming to the 1340 level in the spx... should see some resistance there... with enough money you can fight this.. Also the financials did show some strength after that low.

lookie there

Well... Possible you got stopped out That blue line shows a new better entry... if you believe the market is going down.... That uptick was super sudden... doesn't show healthy buying.... Probably also shows people doing exactly what I'm talking about.... but there is still some selling pressure coming right back in....

we are getting to the lunch hour... and usually somewhere between now and then there is a change in trend... will we maintain the upside to the last 2 hours... or will we do some selling off then have some buying into the close.

3 minute chart of the spy from this morning.

this is the wave we have been talking about.. So.. as I've been talking about, the sell volume is lighter than the buy volume... Problem is the buy volume is sudden..... it's Hedgies trying to fight the tape... but it's not setting off short covering because the shorts have conviction.. and it's possible that there isn't short interest, just Sell interest.

So.... There it is.... The order should have been triggered.... 20 cent risk..... another thing is that it's probable that we would just retest that low from 40 minutes ago.... and if your playing with enough money... you can just play that as a swing...

this is this mornings trade.... we have a retrace of 23%... maybe a little more...

Lets look at the wave..... Nice little wave 1... Wave 2 correction, the bulls jumped on... brought it it........ Now..... The third wave kind of moves up... but then falters... moves sideways..... it's starts looking more like an ABC wave..... you can maybe make a wave 4 there... Maybe wave 4 is developing.... This is nothing to jump on...... Yet...

Ok.... So the wave Developed a nice little wave 4 then bounced back.....

I draw a trend line...... Then we wait till it breaks that trend line.... Usually when it breaks the trend line it will follow it to the upside for a bit..... This is wher you put in a stop limit... or order to sell if it gets to a certain level... Say that 133.00

So this is it topping out.. I drew teh arrow to show where I thought it was going to top out.... Again we made an higher low... ... But what we do is look for it to break that higher low... and that is our entry point.

ok that yellow arrow is where if it breaks below you enter... and if it does that then breaks above that high... that is your low risk entry..... Risk 20 cents.... and hopefully the trend maintains to the downside... as a shorting opertunity....

we maintain being conservative on our entry... and it keeps saving us... But we have more that MMMMMMmmmmm pattern and not the WWWW pattern... slightly higher highs... if you are aggressive you can make an entry at this point and just stop out with a 20 cent loss... or Wait till you see a confirmed lower low....

This shows more Distribution than acumulation, with sellers more agressive than buyers.

The open volume was strong... then we muddled, and couldn't get any buyers interested... Volume IMHO was neutral... yesterday it was down biased but no aggressive selling... this last move did see some buying, followed by some aggressive selling...

Maybe the sellers are getting more aggressive.

we seem a little stuck and prone to a breakout to the downside... not sure how far..

Financials looking weak... we traded this way yesterday.

No Body Knows!!!

the pain of the $20 up and down swing in my acount all morning..... no body know my sorrow.....

we should break out, and are curently.... finaly showing some motion!!!!

poet Knowit.

Nice head scratcher today..... Abosolutly worried about a weak little sell off.......

May even call the other action the A wave... this the B. Wave... then we get to 1440... or not