Market Talk / Dec. 3 - 9

[fedgolfer]

Intraday continuation patterns in the Dow, Nas and s&p (ascending triangles and a symetrical triangle). Bodes well for close and possibly tomorrow AM. I went completely defensive at noon... no cahones.

 

[Birchtree]

Spaf,

You're a Dow Theory investor if memory serves - now that you have forsaken the cloak, do you think the Dow Theory Primary buy confirmation will be the seminal moment for the bull to stampede? Transports are seeing momentum to the upside and it won't be long now.

 

[fedgolfer]

... if this Elliot Wave theory is accurate for the current market situation and C-fund closes at around $15.63, we will have completed the 5th wave, with the corrective waves possibly beginning tomorrow.

http://www.market-harmonics.com/elliott_wave1.htm

 

[nnuut]

Man! Don't tell me that! You should have told us before!
AAhha well, can't win them all.:worried:

 

[Birchtree]

There are many interpreters of the Elliott Wave - Bob Prechter in Gainesville, Georgia on the shores of beautiful Lake Lanier, still thinks we are headed to Dow 700. I gave up on him long ago. That article will be a good sleepy time read for Ayla.

 

[fedgolfer]

... yeah, who really knows how it will play. Although I may target my buy on the "A" corrective wave at $15.25 rather than the lower trend line (approx $15.35'ish) that Grif outlined that gave buy signals on the C-fund on 10/11, 11/3, and 11/27.

 

[ATCJeff]

... if this Elliot Wave theory is accurate for the current market situation and C-fund closes at around $15.63, we will have completed the 5th wave, with the corrective waves possibly beginning tomorrow.

http://www.market-harmonics.com/elliott_wave1.htm

Everything I'm reading has the DOW and S&P still working on the 4th wave. Wish I could share, but it's a subscription.

A little...
A triangle appears to be unfolding in the blue-chip stock indexes, which is best interpreted as wave 4. The S&P is tracing out a running triangle, while the DJIA a contracting triangle. They are both variations of the same theme. Wave 5 up should follow the completion of these respective patterns.

http://www.elliottwave.com/

 

[fedgolfer]

... thanks Jeff, the Elliot Wave is new to me so I may not be defining my waves accurately. I have on the Cfund/S&P:

Wave 1: 10/13 up to 10/26
wave 2: 10/26 down to 11/3
wave 3: 11/3 up to 11/22
wave 4: 11/22 down to 11/27
wave 5: 11/27 up to 12/5

I tried to attach a file but it says its to big, Grif had one that shows what I'm talking about. Anyone else? Please chime in.

 

[ATCJeff]

There are many interpreters of the Elliott Wave - Bob Prechter in Gainesville, Georgia on the shores of beautiful Lake Lanier, still thinks we are headed to Dow 700. I gave up on him long ago. That article will be a good sleepy time read for Ayla.

I agree with Birch and I'm also new to the Elliott wave theory. I'm trying the free trial subscription.

 

[Spaf]

Daily Yak

The Kingdom of TSP
Daily Edition
December 5, 2006 Closing

​

Yak, Doodles, Tea Leaves & The Tin Box

Kingdom Yak:

Pro-Yak....................................Good growth, weak inflation!

Con-Yak...................................$USD is in the basement!

Jester-Yak................................Buy america!

Doodles:
TSP Socks leader........................I-fund
Last 12 months..........................up 28.20%

Socks [EFA] Closed at.................73.24 up +0.41
Stops.......................................Alert: 72.54. Trail: 71.84
MACD hist.................................+0.169, increasing
Trend (P-SAR)............................positive.
Overbought/sold (RSI).................[70] 69.75 [30] increasing!

$USD........................................82.47 dn -0.05

Lube (NYM) Closed at..................62.43, dn -0.01
Oil Markers................................<70= ok, 70-75= worry, >75= panic.

Tea Leaves:
Yakndoodles...............................Green.

Tin Box:
TSP...........................................G:28, F:15, C:02, S:15, I:40

 

[airlift]

There seem to be divergent opinions regarding the interpretation of the Elliot Vave we are in. Any convergece of views yet? or do we get the corrective waves stating tomorrow December 5th? This is also new material for me.

 

[Birchtree]

Buy America is right. Europeans flock to U.S. for deals while the pound and the euro soar; scoring iPods, Tiffany, Nike sneakers.

A hot destination for European travelers this winter: Minnesota. At a Holiday Inn near the Mall of America, the giant shopping center just outside Minneapolis, foreign tourists shopped so much this week that the hotel had to set aside four guest rooms to hold their suitcases filling up its baggage-storage room.

The weak dollar is even encouraging many to make a trip for the post-holoday sales. Trailfinders recently launched a three-night package to Minneapolis to visit the Mall of America in January (average temperature: 12 degrees Fahrenheit). The package costs $785, and includes a direct flight from London and three nights in a three-star hotel. If they are spending their money here it's not being spent in their own economy. When will the Chinese arrive? Soon I hope.

 

[ATCJeff]

Elliot Wave Free Week

http://www.elliottwave.com/freeweek/fjs/default.aspx?code=emsub

 

[airlift]

Please give your best opinion, now that today the C fund closed exactly at $15.63 (+.06). Thanks in advance!

... if this Elliot Wave theory is accurate for the current market situation and C-fund closes at around $15.63, we will have completed the 5th wave, with the corrective waves possibly beginning tomorrow.

http://www.market-harmonics.com/elliott_wave1.htm

 

[ATCJeff]

There seem to be divergent opinions regarding the interpretation of the Elliot Vave we are in. Any convergece of views yet? or do we get the corrective waves stating tomorrow December 5th? This is also new material for me.

I'm to new at reading which wave were currently riding. However, everything I'm reading suggest that were on wave 4.

Sorry I can't help more.

 

[Birchtree]

The C will most likely cruise right on up to the jobs report Friday - and if that is reasonable on we go to Santa. I plan to peel off 1% of C to the G on the first throw over to $16.00.

 

[ATCJeff]

Grab your favorite evening drink and read away....

http://www.etfdigest.com/daveDaily.php

http://www.bullnotbull.com/blog/

http://www.decisionpoint.com/TAC/BOXER.html

http://aheadofthenews.com/

 

[fedgolfer]

I'm to new at reading which wave were currently riding. However, everything I'm reading suggest that were on wave 4.

Sorry I can't help more.

I hope I'm wrong, but anyway... on the previous link I provided that gives the direction of each wave, Wave 4 is a bottom, not a top like we closed today. i'm new to it and haven't researched it much at all.

 

[ATCJeff]

I hope I'm wrong, but anyway... on the previous link I provided that gives the direction of each wave, Wave 4 is a bottom, not a top like we closed today. i'm new to it and haven't researched it much at all.

Correct, wave 4 is a mid-bottom wave. Wave 5 is a strong upward wave.

 

[weatherweenie]

08:00 am : S&P futures vs fair value: -0.8. Nasdaq futures vs fair value: -3.8.