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					@Dan [14:44:59]> Welcome to the Sunday, Feb 27, 2005 edition of the "Night Owl"
charting session.
@chris [19:10:30]> ALERT : Hey Gang !!!! Welcome and I see some of you are on early, we
will start @ the usual time 8:00 Est
@chris [19:11:32]> The EURO already up this evening........we have some very good charts
for you all tonight
@chris [19:11:48]> I will see you all around 8pm
@chris [19:19:28]> http://tinyurl.com/3ueoc Click on Link to View Chart This is the Link we
will be using tonight
@chris [19:19:35]> have this link opened for when we start
@chris [19:19:52]> i posted some scans for stock shares, grail buys and also Home and
Oul Builder shares.
@chris [19:53:43]> ALERT : Welcome Welcome Welcome !!!!>...........Hope you all had a
great weekend !!!!
@chris [19:53:50]> We have time before we start tomight
@chris [19:55:07]> We will review charts for the S&P, DOW, NAZ, RUSSEL, SMH ( Semis)
also look at Oil, Homebuilders, Utiltiites, Brokers, Banks Gold........
@chris [19:55:15]> and Currencies.......
@chris [19:55:52]> and the 6 top markets in those Currencie /Forex Markets
@chris [19:56:38]> For those that are intrested in having voice, for now, we ONLY use it
for the Day Session when Linda gives comments from time to time, BUT
@chris [19:56:43]> our programmers are hard at work
@chris [19:56:57]> so we have our own in house platform
@chris [19:57:17]> that will be intergrated with the current text chat software
@chris [19:57:53]> this way we will save everybody from paying for hotcomm and have a
better inhouse system, it will take another 2 months or less to complete.
@chris [19:58:49]> Hey hey hey !!!! where is everybody from ???? I am in NYC
here.......we need to get warmed up, some very good charts tonight
@chris [19:59:12]> We will take maybe 1 hour to 1.50 hours to complete our work tonight.
@chris [20:00:18]> Quiet bunch tonight.....no biggie, give me a few moments and I will
start posting charts
@chris [20:01:58]> ALERT : http://tinyurl.com/3ueoc Before we start, please click on that
link and make sure you can see some of the charts I posted
@chris [20:02:08]> its of scans of some stocks.
@chris [20:02:15]> that I posted earlier.
@chris [20:02:35]> If you CANNOT click or it doesnt work, then type the link into your
browser
@chris [20:02:42]> and keep the browser OPENED
@chris [20:03:02]> when I post the link again, you just have to refresh to see the new
charts
@chris [20:03:39]> I know we have some new traders with us tonight, Welcome.......
@chris [20:03:47]> and basically the format is this
@chris [20:03:54]> I am sharing my work from what i see on the charts
@chris [20:04:12]> you may or may not agree with my work and thats fine, its what makes
a market, some people buy and some sell.....
@chris [20:04:24]> I am basically going to review my thoughts
@chris [20:04:29]> on each of the major indexes
@chris [20:04:34]> and sectors
@chris [20:05:00]> as well as look at the Currency/Forex and Bond markets
@chris [20:05:22]> Now, for those of you that are
@chris [20:05:33]> learning or educating yourself on technical analysis
@chris [20:05:44]> or want to improve your charting ability
@chris [20:05:48]> one thing to understand
@chris [20:05:57]> it does not matter if you trade
@chris [20:06:07]> only S&P or only Stocks or only Currencies
@chris [20:06:11]> or a mix of all fo them
@chris [20:06:16]> the point is that from
@chris [20:06:23]> watching the work we do on a weekly basis
@chris [20:06:35]> and if you only trade S&P and you see
@chris [20:06:41]> i am looking at all these other markets
@chris [20:06:56]> or your trading stocks and not watching the
@chris [20:07:02]> Currenie Technicals
@chris [20:07:10]> then your doing yourself
@chris [20:07:14]> an injustice
@chris [20:07:21]> if i spelled it correctly
@chris [20:07:32]> this is what 3 shots of espresso in a
@chris [20:07:41]> starbucks frappacino does to you
@chris [20:07:43]> i am rolling
@chris [20:07:46]> anyway you should always
@chris [20:08:05]> always try to educate youself on TA and it doesnt matter the market
@chris [20:08:13]> keep an open mind to the various ways
@chris [20:08:15]> to look at charts
@chris [20:08:27]> some times we have to think outside the box a bit
@chris [20:08:38]> but also not forecast 10 yrs in advance, one thing
@chris [20:08:42]> as Linda always says
@chris [20:08:50]> "One Swing at a time"
@chris [20:08:59]> for each time frame
@chris [20:09:08]> every time frame treated as a seperate or its own market.
@chris [20:09:12]> lets rock and roll em
@chris [20:09:40]> I am going to post some charts and
@chris [20:09:42]> when I am done
@chris [20:09:48]> I will pop in the link
@chris [20:10:35]> http://tinyurl.com/3ueoc Click on Link to View Chart
@chris [20:10:42]> I posted charts of the S&P futures.
@chris [20:11:00]> I posted 30 min, daily, weekly
@chris [20:11:07]> the first chart is a weekly time frame
@chris [20:11:29]> and just want to start with this.......
@chris [20:11:44]> the market closed pretty well on Friday, was a good strong day UP
@chris [20:12:04]> and although I am looking for short term pullbacks for now, and I have
other things to discuss on that
@chris [20:12:11]> the larger time frame I want to stay aware of
@chris [20:12:39]> the Weekly chart shows the
@chris [20:12:55]> market swing high around a 50% level from the 2000 high to 2002 low
@chris [20:13:03]> that we tested recently
@chris [20:13:21]> above 1220.50, there is 0 resistance until 1320-30
@chris [20:13:27]> yes, its up there
@chris [20:13:34]> so keep this in mind IF the market
@chris [20:14:20]> starts to rally, that we can see better move, I show a 618%
retracement , a price swing high ( red 1333.50) and also an
@chris [20:14:26]> equal swing Up from the prior rally
@chris [20:14:41]> all ties in as one. just keep that in mind.
@chris [20:14:44]> nect
@chris [20:14:53]> lets bring it down to what we arer
@chris [20:14:57]> working with now, a daily chart
@chris [20:15:08]> Last week, Monday night
@chris [20:15:26]> we had a night owl,. the thoughts where a Sharp swing down met with
a sharp swing up
@chris [20:15:31]> we did that this week
@chris [20:15:40]> but i was not expecting the S&P to
@chris [20:15:54]> reach a retest UP on the swing up..pretty impressive so far
@chris [20:16:26]> we will look at the other indexes and
@chris [20:16:45]> one thing to note, the S&P retested the prior swing high 1213.50
@chris [20:17:05]> and closed under it, the other indexes NAZ, RUT did not.
@chris [20:17:10]> something to keep in mind.
@chris [20:17:49]> a further push UP is going to be important as its between 2 pivots
1213.50/1220.50, a resistance area and a basis for
@chris [20:18:06]> a triangle IF the market does turn back DOWN, but for now, one swing
at a time
@chris [20:18:26]> zone to watch 1213.50/1220.50, very key for this market this week
@chris [20:18:55]> can see I drew out a potential triangle pattern, i am doing this before
RUT and NAZ where not as impressive on this daily chart
@chris [20:18:59]> okay now......'
@chris [20:19:10]> the next chart
@chris [20:19:16]> is the 30 min Chart
@chris [20:19:18]> S&P....
@chris [20:19:25]> what we have here is this, a 30 min chart, 20 ema
@chris [20:19:39]> yes, we can have support at the 15 min chart coming into the week ,
but
@chris [20:19:59]> the 30 min for me and the 60 will be important as they can correct
down to that 30, notice
@chris [20:20:05]> the 3/10 MACD , the one with the
@chris [20:20:09]> histogram
@chris [20:20:25]> its moving lower as price moving higher
@chris [20:20:36]> a divergence, basically running out of gas up here
@chris [20:20:45]> will have 30 min grail buy.
@chris [20:20:59]> and under that I have a thiclk black moving average
@chris [20:21:17]> thats the 20 ema on a 60 min chart, but I plotted on the 30 min,
basically
@chris [20:21:27]> plotted a 40 ema on a 30 min chart to get that result
@chris [20:21:38]> pullback down to the 30 min chart, 20 ema will setup a BUY
@chris [20:21:47]> now, lets put this all togther
@chris [20:21:57]> the retest back UP on this time frame will be key
@chris [20:22:15]> if this fails to get going and make a retest UP after a pullback down to
the 30 min, 20 ema
@chris [20:22:45]> we can see a U turn and possibly the start of the bigger daily range to
fill out, if the market starts to show new momentum UP
@chris [20:22:53]> then that 1220.50 becomes key
@chris [20:23:01]> above that, we revert to the weekly chart
@chris [20:23:08]> as that time frame is in a uptrend.
@chris [20:23:22]> okay .......one swing at the time, 30 min chart for tomorrow is the
play.
@chris [20:23:30]> Let me post new charts
@chris [20:24:51]> http://tinyurl.com/3ueoc Click on Link to View Chart
@chris [20:25:04]> I posted Weekly, Daily and 30 min chart of the Russell Futures.
@chris [20:25:59]> okay
@chris [20:26:10]> the Weekly chart is the first chart, this is the same chart from last
week
@chris [20:26:17]> I did not add or take away anything from it
@chris [20:26:30]> can see potentail for a triangle to fill ouyt
@chris [20:26:45]> dropping it down to a daily below that
@chris [20:26:48]> okay
@chris [20:26:56]> now, notice this chart vs the S&P chart
@chris [20:27:01]> doesnt look as strong uh?
@chris [20:27:12]> the S&P closed better vs its prior swing highs
@chris [20:27:23]> just looks better than this RUT, so
@chris [20:27:35]> this is why i am thinking, what if this RUT cannot get going ?
@chris [20:27:48]> we can have some sell divergences pop up and pull the market back
down a bit
@chris [20:28:29]> daily chart, for now, the next swing high 641.50 is key, above that
there is a 786/886 range, resistance to watch
@chris [20:28:43]> and i drew in the possible for a triangle up there
@chris [20:28:51]> something i am watching for on this chartt.
@chris [20:28:59]> lets bring it one more time frame lower and
@chris [20:29:12]> can start to see what i am thinking
@chris [20:29:22]> this market moved up into a 786/886 vs the prior swing high
@chris [20:29:34]> i like to watch around 80% of swings
@chris [20:29:45]> for failure and its right in here now
@chris [20:29:51]> on the close from friday
@chris [20:30:08]> the first play will be to look for a grail buy on the 30 min chart
@chris [20:30:19]> means a rising ADX above 30 and a pullback
@chris [20:30:25]> to the 20 ema will trigger a BUY
@chris [20:30:31]> we have that on the S&P and also the RUT
@chris [20:30:46]> whats important to me is the S&P made a full retest UP and RUT did
not
@chris [20:31:04]> something i am keeping in my back pocket so to say, watching toi see
how those swing highs act
@chris [20:31:44]> if there is a divergence up there, then we may only have one play, the
30 min buy and not get a full retest up, as I said, something I am keeping an eye on.
@chris [20:32:21]> I am an optimist , cannot spell worth beans tonight, but I always also
want to stay aware of the other markets and time frames
@chris [20:32:28]> and this is what I am sharing wth you now.
@chris [20:33:02]> I will post the NAZ futures and post link when i am done.
@chris [20:33:55]> http://tinyurl.com/3ueoc Click on Link to View Chart
@chris [20:34:01]> Posted NASDAQ
@chris [20:34:17]> Refresh your browser or go to the link
@chris [20:34:41]> until the last swing high is taken out, I will leave that measured move
down target in place.....
@chris [20:34:47]> the green thick line
@chris [20:35:13]> the NAZ is far from a retest of the prior swing high
@chris [20:35:26]> and has been the weak link on these daily charts
@chris [20:35:32]> vs the S&P and RUT
@chris [20:35:44]> but since the market
@chris [20:35:52]> has short term momentum up
@chris [20:35:59]> i posted 60 and 30 min charts below that
@chris [20:36:42]> okay, 60 min chart, stay aware of the upper keltner channel and a 618
ret level....this is 1535/1540 range.
@chris [20:36:59]> if the S&P, RUT have another push UP , then the NAZ can test this area
@chris [20:37:01]> as resistance
@chris [20:37:06]> something to make notre of
@chris [20:37:08]> below that is
@chris [20:37:24]> a 30 min chart, watch the 30 min, 20 ema on NAZ< S&P, RUT for buys
@chris [20:37:34]> the market should have suppor short term on the
@chris [20:37:38]> first pullback down to it.
@chris [20:37:48]> Not Posting the DOW
@chris [20:38:38]> http://tinyurl.com/3ueoc Click on Link to View Chart
@chris [20:38:45]> Okay Posted SMH
@chris [20:38:47]> Semis
@chris [20:38:56]> For those Just joining us or
@chris [20:38:59]> Joining us late
@chris [20:39:09]> we looked at S&P RUT NAZ so far........
@chris [20:39:17]> we are looking at the SEMIS and from this we will
@chris [20:39:49]> look at Homebuilders, Utiltiies, Oils, Gold and the Currency/FOREX
markets
@chris [20:40:01]> we have a chart of the Daily SMH
@chris [20:40:28]> not seeing much, except to stay aware of the prior swing high to short
scalp against on first test up 34.90/35.00
@chris [20:40:37]> next chart below
@chris [20:40:47]> 60 min SMH, will have a grail buy
@chris [20:40:56]> the ADX is below 30 but will be above it in the morning
@chris [20:41:00]> close enough
@chris [20:41:11]> first pullback down to the ema will be a BUY,.......also
@chris [20:41:16]> when the other markets
@chris [20:41:30]> trigger a BUY, I am sure the SMH will also have a buy in there also
@chris [20:41:52]> watch that 20 ema on the 60 min SMH for the SEMIS shares, buy the
strongest ones on the dayt when this
@chris [20:41:58]> corrects down for a buy
@chris [20:42:28]> Posting Oils Shares
@chris [20:43:38]> http://tinyurl.com/3ueoc Click on Link to View Chart
@chris [20:43:49]> Posted Oils Index ( stocks)
@chris [20:43:57]> WOW on the Weekly chart
@chris [20:44:18]> was not long ago we liked 840/850, but thats long gone huh.....this
markets rocken and rolling
@chris [20:44:29]> look at the size of these UP swings
@chris [20:44:34]> I drew it in
@chris [20:44:38]> every UPswing becomes
@chris [20:44:41]> larger and larger
@chris [20:44:52]> amazing.......
@chris [20:45:32]> what did the DOW theory say ?? "A trend will continue in effect until
such time as a reversal has been definatly signaled"
@chris [20:45:34]> amazing.........
@chris [20:45:56]> stay with the trend and buy pullbacks.....okay where ?...lets drop down
to the next chart
@chris [20:46:25]> obviously the daily ema is 200 miles away at this point.....but the fact
is
@chris [20:46:50]> they will retrace at some point .....so always good to keep a chart open
on that and look for a good retracement, but lets
@chris [20:46:56]> look at a lower time frame
@chris [20:47:01]> the next chart
@chris [20:47:12]> the last swing down was around 20 XOI points
@chris [20:47:28]> another 20 pt swing down will come in around the 120 min, 20 ema
@chris [20:47:52]> will setup a buy, for a play, not saying that will be a buy and run
another 50 pts, but its a area to BUY for a trade
@chris [20:48:09]> will have a grail buy, and also we can start to watch for some
divergences to kick in on this market
@chris [20:48:22]> going foreward as they are getting a bit overdone short term
@chris [20:48:38]> now, i did post a list of Oil Shares with HOmebuilders
@chris [20:48:40]> earlier tonight
@chris [20:48:52]> you want to BUY the strongest Oils when the XOI pulls back to the 120
min 20 ema.
@chris [20:49:21]> amazing what a week maks
@chris [20:49:29]> I am posting new charts of the Utilties
@chris [20:49:58]> http://tinyurl.com/3ueoc Click on Link to View Chart
@chris [20:50:08]> Shows charts of the weekly and daily UTY.X
@chris [20:50:18]> Basically the 400 level has been the level we have been watching for
@chris [20:50:35]> and the last pullback this week held around the lower trendline of a
rising channel
@chris [20:50:44]> that 400 level may come into play this week
@chris [20:50:47]> okay this is what I see
@chris [20:51:17]> Watch how the UTY.X acts around the 400 level, we may see one more
swing back down to test the lower trend line again, and
@chris [20:51:43]> if they fail up around 400, then can scalp short side over a 3-5 day
period until they correct to the
@chris [20:51:50]> lower trendline, on the weaker UTY share
@chris [20:51:54]> shares
@chris [20:51:58]> NOW, flip side of the coin
@chris [20:52:03]> this is a rising channel
@chris [20:52:10]> and 400 is an obvious level
@chris [20:52:22]> and the channel and that price meet at the same time
@chris [20:52:35]> if the price bar tests up, can see the potential
@chris [20:52:44]> ABOVE the 400 level, may see a breakout UP
@chris [20:52:48]> this would be very bullisy
@chris [20:52:56]> breakout UP of a rising channel BULLISH
@chris [20:53:06]> and would need to think LONG side on the strongest shares
@chris [20:53:17]> follow the logic ? this is something we will watch
@chris [20:53:29]> in the chatroom as it will take some finessing as the prices test up a
but
@chris [20:53:30]> but
@chris [20:53:36]> AHHHH ! B I T !
@chris [20:53:36]> hah
@chris [20:53:38]> anyway
@chris [20:53:50]> YOU ALL HAVING FUN OR WHAT !!!!
@chris [20:54:21]> hmmm quiet bunch tonight !
@chris [20:55:01]> okay give me a moment
@chris [20:55:54]> I just called somebody
@chris [20:56:01]> I know and asked them to type into the room
@chris [20:56:10]> he said there is no place to type into
@chris [20:56:24]> can anybody type ?? or did big Dan forget to allow typing !!?
@chris [20:57:01]> Okay,,,,,,he forgot to permissio you all...no biggie we will continue with
charts
@chris [20:57:14]> I am sorry, i left a message for Dan to call me back
@chris [20:57:26]> and maybe open it up, the room usuall is open for talk for everybody
@chris [20:57:30]> Sundays
@chris [20:57:40]> I really apologise for this gang
@chris [20:58:28]> OKay
@chris [20:58:41]> Linda is looking for Dan, we will continue to work on charts for now.
@Linda [20:58:55]> you want extra talking?
@Linda [20:58:56]> OK
@Linda [20:59:00]> har har...I can chip in!
@chris [20:59:06]> Well tell you what
@chris [20:59:11]> let me kick out
@chris [20:59:14]> these charts and maybe
@chris [20:59:17]> say a few words ??
@chris [20:59:41]> I will let you know when I am done.....lets rock em gang, I am posting
some Homebuilder charts
@Linda [20:59:44]> OK..>Dan is not answering, so let me see what I can do in the
meantime
@Linda [20:59:57]> Chris - go to town on HOMEbuilders!
@chris [21:00:20]> http://tinyurl.com/3ueoc Click on Link to View Chart
@chris [21:00:22]> Okat
@chris [21:00:35]> I posted charts of the weekly and 30 min homebuilders
@chris [21:00:49]> we have been looking for a measured move in the HGX to 570/580
@chris [21:01:01]> as you can see the markety broke from a big triangle
@chris [21:01:18]> and then formed a rising channel and has rallied from that
@chris [21:01:25]> keep thinking long side on pullbacks
@chris [21:01:34]> this market has incredible momentum and
@chris [21:01:52]> i see further upside, lets drop down a chart
@chris [21:01:55]> to the 30 min below
@chris [21:02:08]> as you can see I made a chart of the 30 min HGX.X
@chris [21:02:26]> this shows the 30 min, 20 ema and also an overlay of the 60,20 (
shown in black)
@chris [21:02:34]> will have grail buys on the first pullback down
@chris [21:02:39]> 500 level will be key to watch
@chris [21:02:52]> I posted the housing shares to watch earlier in the nght
@chris [21:02:59]> so scroll down after we are done
@chris [21:03:04]> pullbacks are buys
@chris [21:03:09]> keep it simple as that.
@chris [21:03:25]> Posting Brokers and Banks
@chris [21:03:54]> http://tinyurl.com/3ueoc Click on Link to View Chart
@chris [21:03:59]> shows the Banks and Brokers
@chris [21:04:03]> last Monday
@chris [21:04:09]> I saw talking about
@chris [21:04:16]> not becoming so bearish on the move down
@chris [21:04:23]> until i saw a breakdown of the prior swing lows
@chris [21:04:29]> as we where forming a bigger triangle
@chris [21:04:40]> in both BKX and CBD
@chris [21:04:44]> in both BKX and XBD
@chris [21:04:51]> the indexes for brokers and banks
@chris [21:04:56]> as you can see from these charts
@chris [21:05:09]> they have spiked up from the swing lows, the lower trendlines of these
charts
@chris [21:05:22]> have to think these markets can still fill out biggerr triangles
@chris [21:05:56]> gang let me check something in the chatroom
@chris [21:06:41]> Dan is talking to Linda now
@Linda [21:06:48]> 2 secs
@chris [21:06:51]> so maybe can get the rooms opened for talk
@chris [21:06:57]> meaning you can also type
@Linda [21:07:03]> Dan is fixing it in 2 seconds
@Linda [21:07:06]> OK...long seconds
@chris [21:07:29]> anyway the S&P, RUT ect and these Brokers and Banks have possiblity
for those triangles to fill out more
@chris [21:07:42]> if anybody if Booted off, JUST relogg on
boroata [21:07:52]> hi
d4cordray [21:07:54]> Success !!!
@chris [21:07:54]> WOW !!
ernest [21:07:55]> hi
nester [21:07:57]> hi
townsendc [21:07:57]> hello
sarafara [21:07:57]> hi
gwgator [21:07:57]> hi
aporco [21:08:00]> okay
amsuarez3 [21:08:00]> hi
tmgmaf [21:08:00]> hello
naturus [21:08:01]> thanks Chris and Linda
gondi [21:08:01]> Hey
jeffreyr [21:08:01]> hi
mhipskind [21:08:01]> it's like when the tinman got oil
@chris [21:08:04]> ALERT : TALK TO ME PEOPLE !!!
@chris [21:08:05]> hahahah
ranger48 [21:08:08]> okie dokie!
melgar [21:08:09]> hi
stock789 [21:08:09]> thanks
knowspin [21:08:09]> we're in business
townsendc [21:08:10]> wonderful
ashe [21:08:12]> wtg :)
@chris [21:08:13]> We are opened,,,,,,feels good huh
Tarik [21:08:14]> thanks
rlbain [21:08:14]> Hello
nightowl [21:08:15]> I can talk
brilesm [21:08:16]> It works!!! YEahhhhhhhhhh
gondi [21:08:17]> SUPER
fctrader [21:08:20]> howdy y'all
pippirate [21:08:22]> hi fromSeattle
hlgr [21:08:22]> and you thought it was quiet
gwgator [21:08:22]> hidie ho
demo4 [21:08:23]> Hye Chris and Linda-this is Peter Dalal fromNY /PHONEIX GROUP
BrianM [21:08:24]> hi
@Dan [21:08:24]> yo yo yo shout out to all my boys in OWL!!!
aporco [21:08:25]> houston we have lift off
Swoop [21:08:27]> many thanks
tmgmaf [21:08:28]> you woke up chris
crackers [21:08:29]> Yea! we are on!
doji [21:08:30]> hey BIG!
boneill [21:08:30]> so this it what it feels like to type
jhalter [21:08:31]> chris -- you were like your dog chasing the red dot for a while --
"hmmm, quiet bunch tonight."
lrsbtrial [21:08:31]> test
@Dan [21:08:32]> Representin OWLLLLLLL
naturus [21:08:32]> I sent to you two email to try to tell you about this. Chirs
@chris [21:08:32]> ARE WE HAVING FUN OR WHAT !!!!
kofson [21:08:33]> Hell
kmack [21:08:35]> hey chris...make sure he opens the live rooms too please
kmack [21:08:40]> for tomorrow
relbr2 [21:08:41]> relbr2: hi
fctrader [21:08:45]> great stuff!!!
townsendc [21:08:52]> go chris
gwgator [21:08:58]> give him an oscar!
lindor [21:09:01]> please what are the parameters for the ADX on the 30 interval
jouwerke [21:09:01]> hi
kofson [21:09:03]> Hello, I mean
ernest [21:09:03]> now that i can speak up i fell free
@Dan [21:09:03]> ice ice baby chart chart baby
aporco [21:09:12]> adx 14 always
melgar [21:09:13]> more fun now, that i can talk back!!
demo4 [21:09:21]> HYE EVERY ONE THIS IS PETER DALALA
@Dan [21:09:28]> its a FREE FOR ALL!!! yipppeeeee!
@chris [21:09:32]> Okay everybody
bmcgeeusa [21:09:36]> Hi Peter
jcosford [21:09:38]> chris: yup better to talk back
@chris [21:09:40]> ALERT : Lets get back to the charts.....
@chris [21:09:50]> hang out Gang...have Gold and the Forex to get to
gondi [21:09:50]> GIDDY UP!
jkirby [21:09:54]> wtg BIG Dan
@chris [21:09:56]> and then Linda will do some talking
townsendc [21:09:56]> when will these homebuilders ever turn south?
coast [21:09:57]> chris, how did you overlay a 60min 20ema on a 30min chart?
cayo [21:10:01]> so these blue charts of homebuilders....i assume the long column is entry
points long and short column is entry points short? are they all based on 30min 20ema??
demo4 [21:10:05]> CAN NOT WAIT FOR FOREX
randersen [21:10:08]> how do u get rid of the list of attendees panel?
sethicus [21:10:09]> was wondering what happened with chat room
lindor [21:10:12]> shall the DMI + and the dmi - also have the 14 parameter?
@Dan [21:10:22]> you can not git rid of that pannel
@chris [21:10:39]> ALERT : Gang....let me finish the charts and linda will do some talking
and we can have a free for all after okay:
@chris [21:10:43]> lets continue
randersen [21:10:43]> i need teh real estate
townsendc [21:10:48]> so many Q's so little time!
@chris [21:11:05]> to many Qs, lets do the work first
@chris [21:11:19]> http://tinyurl.com/3ueoc Click on Link to View Chart
@chris [21:11:32]> Posted charts of GOLD GOX.X Daily
@chris [21:11:40]> notice a small pennant forming and a
aporco [21:11:42]> finally gold
@chris [21:11:48]> sell divergence on the daily 3.10
@chris [21:11:58]> this market is holding, I posted some shares
@chris [21:12:03]> to watch for the long side
@chris [21:12:05]> on the chart
@chris [21:12:21]> Aporco, see, Gold wasnt going to run yet !! had time..
@chris [21:12:26]> maybe a few more days, but
@chris [21:12:31]> Stay aware of this market as it
@chris [21:12:38]> can start to catch fire higher up.......
@chris [21:12:53]> a breakout UP from this pattern can start to see this market make
another leg up
@chris [21:12:59]> as it did off the lows.....resting period
@chris [21:13:22]> i am going to finish up withg th Currency Markets, we have 6 majors
@chris [21:14:12]> and I am posting the SPOT markets tonight, Futures/SPOT move
idential, a few of them
@chris [21:14:16]> are inverse to the futures
@chris [21:14:23]> Canada Swiss
@chris [21:14:38]> Yen
@chris [21:14:54]> I am going to post all of them
@chris [21:14:58]> and then go thru thenm all
@chris [21:15:03]> so give me a moment
@chris [21:15:32]> after currencies < i also have bonds to work on with you all.
@chris [21:17:41]> http://tinyurl.com/3ueoc Click on Link to View Chart
@chris [21:17:50]> Posted a bunch of charts 6-7 charts
@chris [21:17:57]> lets rock thru these gang
@chris [21:18:06]> First chart is the Weekly EURO...
@chris [21:18:37]> I have 1.3470/3500 to watch on this time frame, would be a lower
high, this market can continue to trade to that price on this time frame
@chris [21:18:55]> now, above the prior swing high
@chris [21:19:13]> then we have upside levels 1.400 +- to watch
@chris [21:19:28]> Futures/SPOT move the same, only diff is the price
@chris [21:19:38]> a few ticks, pips different is all
@chris [21:20:03]> Futures 1.3272 and SPOT 1.3269, essential the same
@chris [21:20:15]> drop down to the next chart
@chris [21:20:19]> we have a daily EURO
@chris [21:20:41]> an equal swing UP from the prior rally and lead to 1.3450
@chris [21:20:53]> hmm let me post one more chart
@chris [21:20:56]> hold
@chris [21:21:14]> http://tinyurl.com/3ueoc Click on Link to View Chart
@chris [21:21:21]> refresh
@chris [21:21:26]> i forgot to post this also
@chris [21:21:32]> notice this 240 min chart
@chris [21:21:45]> an equal swing up 314 pips leads to 1.3457
@chris [21:21:50]> from this bullflag pattern
@chris [21:22:03]> thats what I am talking about as upside 1.3450 +-
@chris [21:22:10]> lets get back to the daily, scroll down
@chris [21:22:27]> around that upside measured move target
@chris [21:22:31]> we see on the daily chart
@chris [21:22:48]> 786% ret and also projectiosn of 27-41%
@chris [21:23:12]> basically all these prices tie in togther
@chris [21:23:32]> so, if this market can trade above
@chris [21:23:42]> 1.3310 then
@chris [21:24:16]> have to think LONG side for a play for 1.3450/1.3470 target zone
@chris [21:24:36]> see the thinking ?........we liked em long from Monday from the
breakout up and
@chris [21:24:39]> I still like them higher
@chris [21:24:50]> Scroll down
@chris [21:25:01]> GBP, Brit Pound
@chris [21:25:30]> THis markets up 30 pips tonight...watch these levels for resistance
@chris [21:25:42]> 1.9240, and 1.9322
@chris [21:25:57]> to the downside, we have the daily 20 ea
@chris [21:26:01]> ema for support
@chris [21:26:12]> 1.8935-1.8950 area
@chris [21:26:21]> doesnt look as if its coming down tonight
@chris [21:26:47]> so short term impulse is up...but reaching some resistance above
ozzy [21:27:22]> euro at critica resistance point as wek speak (1.3270)
cashin [21:27:42]> EURUSD over last weeks high here
@chris [21:27:45]> yes OZZZY you rocked em on that breakout Monday, was wondering
where you been !!
ozzy [21:27:50]> :)
@chris [21:27:51]> lets move to the next chart
ozzy [21:27:51]> dude
ozzy [21:28:03]> I've been in futures currency world for the last 4 days
ozzy [21:28:07]> night and day
@chris [21:28:12]> OKay.........NZDUSD, New Zealand Buckaroo
@chris [21:28:29]> Nice breakout this market had on the daily charts
@chris [21:28:46]> i made them earlier and like long side above 7238, its above it now
@chris [21:28:51]> thats the price to stay above
@chris [21:29:02]> this market forming a bullflag and is holding well, the last test down
@chris [21:29:11]> held at prior price support
@chris [21:29:16]> i highlighted on the chart
@chris [21:29:26]> notice the 3/10 corrected DOWN and price held ??
@chris [21:29:31]> Can go alot higher
@chris [21:29:36]> good market to watc for long side
@chris [21:29:44]> next chart down
@chris [21:29:48]> Canandian
@chris [21:30:28]> This is the SPOT, INverse to Futures, for now, does it matter ??? its in
a triangle and will continue to chop, inverse upside down inside out, triangle !! trade the
markets that MOVE
@chris [21:30:39]> Lets move lower to the next chart
@chris [21:30:47]> USDCHF< Swiss
@chris [21:30:57]> Riiiiiiiccoolaaa.........
@chris [21:31:05]> Okay we have a bear flag on this market
@chris [21:31:15]> if they trade below 1.571
@chris [21:31:24]> then can see a play for the next swing low 1.1292
@chris [21:31:26]> in this market
@chris [21:31:33]> if you trade Futures
@chris [21:31:50]> this is inverse so you have a bullish bias
@chris [21:31:53]> from the bullflag.
@chris [21:31:57]> same as EC/EURO
@chris [21:32:10]> if they pullback UP the SPot
@chris [21:32:16]> to the daily ema, then a SHORT
@chris [21:32:20]> i marked on the chart.
@chris [21:32:27]> Next Chart
@chris [21:32:44]> USDJPY.......Yen.,....Sushi....
@chris [21:32:53]> I posted a zone below to watch
@chris [21:33:00]> 104.00/104.20
@chris [21:33:31]> for buy , ,also 103.65/.85
@chris [21:33:36]> is a key area to watch
@chris [21:33:51]> if they take out 105.60, then have to think LONG side on this spot
market
@chris [21:34:11]> Posting some Bond charts,m hold on gang
townsendc [21:34:26]> Linda:
deanmill [21:34:40]> wsp305:
@chris [21:34:50]> http://tinyurl.com/3ueoc Click on Link to View Chart
@chris [21:34:56]> Posted 2 Bond charts
@chris [21:35:01]> Daily anbd Weekly
@chris [21:35:05]> the weekly is the first chart
@chris [21:35:12]> still think they can reach 112.00
@chris [21:35:22]> maybe 111 21/32 to 112.00
@chris [21:35:25]> on the downside
@chris [21:35:35]> now, thats bigger pic, but shorter pic
@chris [21:35:40]> lets look at the daily
@chris [21:36:02]> A bounce UP on the daily should find resistance at the daily 20 ema
@chris [21:36:07]> not a grail sale
@chris [21:36:12]> but will be resistance
@chris [21:36:38]> was a prior swing hihg, also the ema....114 20/32 115 00
@chris [21:37:23]> ALERT : WOW......DONE with the charts, NOW WHAT DO WE DO !!!????
!!! Was great , Loved the charts this week, YOU ALL HAPPY OR WHAT !!! ????? I am going
to get Linda to say some words in a bit
@chris [21:37:30]> TALK TO ME GANG !!!!
townsendc [21:37:40]> what happens when the $HGX.X turns over? will it go to 400 (prior
breakout) quick?
Disciple [21:37:43]> nice charts
HansB [21:37:44]> Chris, GREAT JOB!
Swoop [21:37:54]> thanks
@chris [21:37:57]> HGX let me look
melgar [21:37:59]> where do you see bonds going to
jcosford [21:38:00]> chris: This is fun!!!
ranger48 [21:38:01]> Thanks again!!
cashin [21:38:08]> chris on USDJPY - do you think its break of 105.60 or should it be
105.80 for upside
rchapman [21:38:10]> this was great ; thank you
ashe [21:38:10]> Thanks Chris for your time and thoughts
demo4 [21:38:12]> Great Job Chris
jpruiz6 [21:38:12]> gracias chris
bob [21:38:14]> many thanks, lots to think about
fctrader [21:38:15]> Great, Chris, thanks for your hard work and explanations
jezza [21:38:19]> Thanks Chris
nester [21:38:20]> Appreciate It!
demo4 [21:38:26]> need voice in the chat
bmcgeeusa [21:38:27]> Great job, thanks
amsuarez3 [21:38:32]> thanks
dartd [21:38:32]> love the forex, thanks chris
ozzy [21:38:35]> two thumbs up!!
@chris [21:38:40]> Stay with the Momentum for now, stay on BUY side for Homebuilders
on pulbacks
DMichaelis [21:38:41]> i'd like to thank chris and the academy
ernest [21:38:43]> chris, great presentation - thanks
boroata [21:38:46]> Thanks. great as always
townsendc [21:38:56]> Thanks Chris, appreciate the insight.
jhalter [21:39:00]> thanks, chris.
cashin [21:39:06]> Chris totally aprreciate your insights please continue doing the
currencies ==
@Dan [21:39:06]> you da man!
mhipskind [21:39:08]> had a great beat..I could dance to it
relbr2 [21:39:12]> relbr2: thanks
nester [21:39:13]> Can you repost homebuilder / oil shares?
bingwong [21:39:13]> Chris, you mentioned last week that you wil talk bit about
psychology
aporco [21:39:14]> gox.x classic example of 3 pushes down , and now setting up a classic
trend change if break above the recent hi?
@chris [21:39:15]> ALERT : Every Sunday we do this Gang 8:00 tell your friends, this is
rocken, Love it when you call hang out with me !!
kmack [21:39:16]> you're cool dude
@Dan [21:39:25]> big chrissyyy rocks!
gentlemark [21:39:26]> Bolshoiest Spaseeba!
HansB [21:39:28]> Chris, how can I print this chat out?
@chris [21:39:39]> Bing, I was going to talk about that, BUT Linda has some things to talk
abouit
bingwong [21:39:45]> np
townsendc [21:39:54]> go Linda
bingwong [21:39:56]> maybe next week?
demo4 [21:40:00]> waiting for Linda
aporco [21:40:03]> chris you were going to talk about the psychology of trading??
@chris [21:40:06]> Dont leave gang.....I am calling the WIz, she is going to say a few
worrds
cashin [21:40:09]> chris on USDJPY - do you think its break of 105.60 or should it be
105.80 for upside
knowspin [21:40:25]> You can just select it al and copy and p[aste it to a Word document.
@chris [21:40:26]> .60/80, within a few tocks is okay
cashin [21:40:32]> thx
aporco [21:40:58]> how about the psychology of trading, next week?
pippirate [21:41:03]> Chris, do you see the GBP going down?
demo4 [21:41:10]> chris please announce that you will bChris can you please tell us , you
will be in Phoneix room this wednesday?
Disciple [21:41:57]> Tax question for IB users; pls PM me if you have tips on how to easliy
extract 1040 Sched D info from the IB Statement downloads.
townsendc [21:41:59]> Linda. saw you in CA in 2000. thought it was great
@Linda [21:42:08]> This is great forum
@chris [21:42:12]> ALERT : Linda is going to rock on with us here.......and start chatting,
also yes Demo, I will be talking for your group wed....lets have fun !
@Linda [21:42:13]> I am amazed at
@Linda [21:42:23]> how many people have been joining us on Sunday night!
@Linda [21:42:37]> Chris has been doing awesome job of running the show but I have
been
@Linda [21:42:42]> going over all the charts,
jhalter [21:42:47]> Hi Linda!
@Linda [21:42:48]> just posted chart of the GBDow to the
@Linda [21:42:54]> daily educational section for tomorrow
@Linda [21:43:01]> bull flags on the foreign indexes....
demo4 [21:43:04]> Hi Linda This is Peter Dalal
@Linda [21:43:09]> really amazing movement and increase int he
@Linda [21:43:27]> daily ranges - especially in Commodities, so maybe these markets are
just STARTING to
@Linda [21:43:31]> Rock N roll......
@Linda [21:43:49]> CRB index just made new 24 year highs...
aporco [21:43:51]> yes steels chemicals copper all up
@Linda [21:44:05]> and in the long run, commodities, metals, bonds, currencies,
equities.....
townsendc [21:44:10]> 24 years? Wow
@Linda [21:44:15]> importanta to be aware of the broader trends in all these markets.
@Linda [21:44:17]> Yup
@Linda [21:44:17]> !
@Linda [21:44:30]> 24 years and a lot of stuff is just STARTING to pick up upside
momentum.
aporco [21:44:38]> fcx a huge weekly triangle and super low adx
@Linda [21:44:45]> As dollar weakens, can see even MORE acceleration in this stuff to
upside.
rterrell [21:44:52]> Linda-which is the best Wyckoff book in your mind? thanks rick t
cayo [21:44:56]> xcuse me...got an Oscar party to go to...can you answer my question on
the blue charts at the beginning pleez?
@Linda [21:44:58]> Applied material stocks, any commodity stock
@Linda [21:45:00]> Wyckoff
@Linda [21:45:10]> aboslutely if you want to immerse yourself in his stuff,
@Linda [21:45:16]> purchase his original course
townsendc [21:45:16]> Upside ? inflation factor?
@Linda [21:45:28]> The Stock Market INstitutte in Arizona has it...
@chris [21:45:40]> CAYO I will private you
@Linda [21:45:42]> Wyckoff - it is multi volume course, will take you 6 months to go
through,
@Linda [21:45:52]> but it will bild a foundation for life.
@Linda [21:45:56]> Other the that,
@Linda [21:46:03]> read any of Hank Pruden's articles.,
Swoop [21:46:15]> Linda... what do you think of the Steidlmayer value based stuff?
@Linda [21:46:17]> I bet there are a bunch on the Internet for free, but he writes
@Linda [21:46:24]> often for stocks and Commodities magazine....
@Linda [21:46:40]> Hank Priuden - simplifies and clarifies Wyckoff priniciples like no other.
@Linda [21:46:46]> Peter St...
@Linda [21:46:51]> I like his early stuff,
leont [21:46:52]> linda i had sent you an email about the orlando manuals, the tick trade
and the last question i had which i did not send, namely a few night owls ago you spoke
about the work of a trader, whose work was very good but then became moot since they
now gap the markets to the pivots depicted in his work. i can not remember the name
however, you said the work was still worth to read. i ask is it worth to read as a study in
gaps?
@Linda [21:47:00]> his book he wrote with Kevin Koy is a classic.
@Linda [21:47:08]> I do not use Market Profile.....
leont [21:47:15]> pruden is in frace not back till august
@Linda [21:47:19]> but I like the way they laid out conceptual foundation.
leont [21:47:21]> france
@Linda [21:47:34]> Pruden will be in Boston in 2 weeks.
@Linda [21:47:47]> I will ask him if he can come on our site and do a guest lecture for us
HansB [21:47:53]> Linda, is there a way to save this chat for review? Thank you.
@Linda [21:47:58]> yes....
@Linda [21:48:10]> we save it and will post the link to it on our homepage tomorrow for
you.
tennispro [21:48:13]> you showed a large number of stock grail buys 30min) do you filter
these with another indicator??
@Linda [21:48:24]> Any grail - this is just a
@chris [21:48:27]> Hans.We have it for Members only though.
@Linda [21:48:38]> r etracement in a astrong momentum environment...any retracement
methodology should use
@Linda [21:48:43]> higher time frame as a filter.
HansB [21:48:46]> okay, gotcha...thank you
@chris [21:48:54]> Tennis Pro, you have to filter them out from that okay?? I was what I
posted from the scan
@Linda [21:49:04]> Also, you can get failed grails after momentum extreme - i.e., buy /
sell climax
@Linda [21:49:22]> This happened to a degree in the SPs on the 30 minute charts last
week to the downside.
@Linda [21:49:56]> leont -
@Linda [21:50:01]> ie gap and ticks
leont [21:50:03]> yes
antonio066 [21:50:07]> Do you ignore grail trades with an extreme ADX?
@Linda [21:50:28]> leont - I think I was referencing the work of....
@Linda [21:50:40]> wait a minute...I gotta remember his name....
leont [21:50:51]> hansen?
@Linda [21:50:53]> Curtis Arnold - PPS - Pattern Probability System.
@Linda [21:50:54]> that was it
@Linda [21:51:15]> if ther eis an extreme ADX, grail trade should still be good.
leont [21:51:17]> why is it worth to read?
antonio066 [21:51:25]> thx
@Linda [21:51:37]> leont - it is worth it to study to
@Linda [21:51:45]> understand which chart formations have best odds of working,
@Linda [21:51:53]> along with the entry and trade management used.
@Linda [21:52:22]> Certain chart formations, like double tops or double bottoms do not
test out as wll as other formations.
leont [21:52:30]> yes however you said they now gap the market to his entries
@Linda [21:52:38]> it wasjust good solid work for its time which was 12 years ago.
@Linda [21:52:48]> yes - any chart formation, you
@Linda [21:52:53]> will se breakouts from these levels now.
@Linda [21:52:57]> Gaps out of chart formations.
@Linda [21:53:03]> everyone is aware of same levels.
leont [21:53:41]> i took it as a contrarian kind of thing just wanted to clarify
@Linda [21:53:47]> crude - gap out of triangle on Day session 4 days ago.
@Linda [21:53:53]> that taype of stuff.
aporco [21:54:01]> linda thanks for ny seminar, have gone thru manual twice since, thanks
for making it so meaningful
townsendc [21:54:39]> Linda, all eqity mkts seem to me to be in a position to fail from
here. too high too fast. south korea looking for other opps. is there anything you can see
that suggests this?
@Linda [21:54:40]> you are welcome.....
@Linda [21:55:01]> on the weekly charts, there have been sell divergences forming on
some of the indexes,
@Linda [21:55:08]> but a sell divergence on the weekly charts can take
@Linda [21:55:19]> several weeks to unfold - hard to pinpoint timing on this.
@Linda [21:55:25]> I posted chart of the GBDow
@Linda [21:55:35]> to tomrorows educatioanl - it has daily bull flag
@Linda [21:55:41]> so maybe a bit more push up
HansB [21:55:52]> what is the GBDow?
d4cordray [21:56:02]> Is there any difference in risk or play in the RUT versus S&P?
@Linda [21:56:03]> FTSE equivalent
@Linda [21:56:14]> RUT - trends harder then SP
@Linda [21:56:24]> SP has more intraday back and fill, also more daily back and fill...
@chris [21:56:25]>
http://www.lbrgroup.com/index.asp?page=DailyCharts&date=2005%2D02%2D28
pazport [21:56:41]> given short term bullish momentum, if reaction up on SPs on Monday
would you expect to scalp-short to 20 EMA and then cover&buy on retracement to EMA 20
or first play is buy on retracement only?
@Linda [21:56:44]> so with Rus - better for positions, or longer term time frame.
HansB [21:56:50]> Linda, when ticks hit extreme levels (plus 1200?)...what does that
mean? Thanks.
@Linda [21:56:50]> SPs better for shorter term scalping
@Linda [21:57:06]> Tick extremes - equivalent of
townsendc [21:57:06]> sell divergences on RSi vs. Price? MACD vs. price?
@Linda [21:57:09]> new momentum highs or
@Linda [21:57:12]> new momentum lows
@Linda [21:57:25]> if Ticks make new highs AFTER 10 AM 9 like not on a morning number)
d4cordray [21:57:28]> Thanks. Do you use the RUT to decide what to do in the S&P for
short term scalping?
@Linda [21:57:28]> that is sign of strength
@Linda [21:57:37]> I watch the RUT
@Linda [21:57:43]> but it has its own timing....
HansB [21:57:43]> okay...thank you...
@Linda [21:58:04]> it is more dependent on institutional buying or selling, and they come
in certain waves at distinct time of the day.
d4cordray [21:58:11]> Thanks Linda.
@Linda [21:58:15]> it can play catch up or it can lead - the RUT
russ5800 [21:58:16]> Linda: Recently you guys had the hgx weekly charts posted as
having sell divergences. I haven't heard much from you guys on this since the run up? Any
comment on where that stands?
antonio066 [21:58:29]> Do you use the SP contract to trigger trades in the ES (i.e., do the
spoos provide better price/volume info)?
@Linda [21:58:34]> yes - there wasonly 2 day break from that pattern...
@Linda [21:58:46]> we had bought puts on the financials, and then on the homebuilders....
@Linda [21:58:51]> we sold them all out a few days ago.
HansB [21:58:53]> Linda, do you still use the TIKI for S&P trading?
@Linda [21:59:05]> There was day where homebuilders made new lows, the
@Linda [21:59:16]> other indexes did not follow suit - classic divergence.
@Linda [21:59:33]> dailies also were oversold -
@Linda [21:59:40]> this is why I caution with the weeklies -
@Linda [21:59:48]> it is not guratee that the
@Linda [21:59:56]> weeklies always kick in right away...
russ5800 [22:00:06]> Thank you for the comments
@Linda [22:00:22]> you play to see what you get, but timimng can still be plus or minus a
few weeks.s
d4cordray [22:00:37]> AFter 3 strong up days in S&P, will it take a breather tomorrow?
@Linda [22:00:53]> I am looking for retracement to the 15 minute EMA.
townsendc [22:01:09]> Linda, appreciate your comments. what's your'e best first trade
tomorro?
@Linda [22:01:10]> I do not think it will give up too much ground and obviously it is going
for new highs
@Linda [22:01:23]> SPs are the only index not to be up on the year at this point.ke
bingwong [22:01:27]> r there not 30min sell div on sp too?
@Linda [22:01:31]> only a point higher
d4cordray [22:01:56]> Thank you.
@Linda [22:02:19]> yes - there are 30 minute sell divergences as well...
@Linda [22:02:29]> but we may or may not make it down to the 30 minute EMA
bingwong [22:02:42]> also seems to be a broadenig formagtion on 240min
@Linda [22:03:07]> you had a broadening formation in the momentum indicators
@Linda [22:03:14]> ( also known as a whipsaw)!
bingwong [22:03:27]> yes :(
rkochar [22:03:34]> linda are fakeout moves more likely on the S&P when you've got a
high ADX? is there any indicator which can help predict fakeout moves?
aporco [22:03:35]> gox.x classic 3 pushes down and now settng up for classic trend
reversal if it takes out recent high
@Linda [22:03:40]> I am not sure there is broadening formation on the chart though
bingwong [22:03:55]> higher pivot highs, lower pivot lows on 240min
@Linda [22:04:06]> Fakeouts -
bingwong [22:04:07]> since feb.03
@Linda [22:04:24]> not sure you can predict these in advance other then to note the lack
of followthrough immediately aferwards...
@Linda [22:04:35]> in this last case, obviously downside was a agravated by news.....
@chris [22:04:36]> its not a broadeng pattern
@Linda [22:04:38]> (Korea)
@Linda [22:04:45]> so that is one thing to be aware of -
@Linda [22:04:51]> often see spikes made on nes
@Linda [22:05:03]> Midcap looks more like broadeneing formation
@Linda [22:05:34]> would not say that that is topping formation though!
HansB [22:05:41]> Linda, is 1.00 on the TRIN considered "neutral", or is it some other
value? (due to components other than stocks)
@Linda [22:05:56]> 90 - 1.00 is neutral
@Linda [22:05:57]> yes
HansB [22:06:02]> okay
fctrader [22:06:11]> Chris, copy/paste won't work from browser window - is there another
way to capture the chat? Thx
@Linda [22:06:30]> we will post transcript for ou to homepage which you can download
tomorrow
fctrader [22:06:43]> Thx, Linda
HansB [22:06:45]> last question..do you still use the TIKI for S&P trading?
Swoop [22:06:53]> right click + select copy
@Linda [22:06:56]> yes - I watch the TIki
@Linda [22:07:06]> that is good indication of whether there is program activity
@Linda [22:07:17]> can also help time the smalletst of pullbacks
HansB [22:07:33]> okay...is there a write up anywhere on how to best use it...
fctrader [22:07:33]> ....thx Swoop - only see font sizes on mine...
HansB [22:07:39]> Thanks Linda
bingwong [22:07:54]> how do u use TIKI to trade in the presence of program activity. may
i ask?
Swoop [22:07:57]> no copy down the bottom?
@Linda [22:08:13]> Tiki just confirms that there is
d4cordray [22:08:14]> Is there any significance in the S&P that the 3/10 has moved below
the slow line on the 15 min chart?
@Linda [22:08:17]> good institutional activity
@Linda [22:08:24]> if I am looking for trend day or trend mode,
fctrader [22:08:26]> I used browser tonight -perhaps the reason...
@Linda [22:08:30]> I want to see lots of extreme tikis
lrsbtrial [22:08:33]> is this holy grail trade posted somewhere for us new folks?
bingwong [22:08:36]> ahh!
townsendc [22:08:53]> Thanks guys for this session. It keeps me on my toes. Good luck
this week.
jcosford [22:08:55]> $mdx
aporco [22:09:04]> chris next week can you talk about the psychology of trading?
@Linda [22:09:06]> Grail - retracmeent to EMA - will see if Chris can post an example for
you
@chris [22:09:09]> in our Trade LIbrary, LRStrial.......yes but for members of the site,
@chris [22:09:21]> I did post it for the S&Ps and other stuff tonight
@chris [22:09:27]> look back at the charts
@chris [22:09:36]> plenty of examples on the Grails
@chris [22:09:38]> tonight.
@Linda [22:09:39]> yeah - but if they are not logged on as a memeber, chris, they will not
be able to access the trade libraray
@Linda [22:09:49]> OK
@Linda [22:09:52]> Chris has a bunch
lrsbtrial [22:10:06]> correct,,, charts don't make sense if we don't know what you are point
out :)
ernest [22:10:17]> linda, thanks
relbr2 [22:10:29]> relbr2: thanks
ernest [22:10:52]> chris, thanks again
nester [22:11:04]> Chris - 20ema is centerline of Keltner chan. on charts....correct??
stock789 [22:11:08]> Linda thanks
@Linda [22:11:08]> yes
@Linda [22:11:11]> 20 EMA
@Linda [22:11:17]> 2.5 ATR is parameter setting
nester [22:11:22]> ty
HansB [22:11:43]> Linda, we are all blessed to have your commentary.....many thanks
chanman [22:11:47]> I just arrived, what is the chart site tonite--I cant scroll up to see it
tks
aporco [22:12:25]> dont have keltner on tc 2000 could envelope channels approximate
@Linda [22:12:32]> will post chart site for you
@chris [22:12:32]> I posted actuallh the criteria earlier tonight lrstrial....seee 20:30:00 -
::31:00 time frame, explains Grial buy or just email me Chris@LBRgroup.com
d4cordray [22:12:40]> 3/10 has moved below slow line on S&P 15 min chart, and
significance to this, or is this noise since a pullback to 20 EMA appears likely?
lrsbtrial [22:12:51]> thanks chris, will do
@Linda [22:12:54]> ttp://tinyurl.com/3ueoc
d4cordray [22:12:57]> any significance to this...sorry
@Linda [22:13:03]> that is the link for Chris's charts
@chris [22:13:09]> http://tinyurl.com/3ueoc Click on Link to View Chart
@Linda [22:13:17]> http://tinyurl.com/3ueoc
chanman [22:13:28]> tks everyone
kmack [22:13:42]> am alos intersted in d4's question...
kmack [22:13:45]> also
kmack [22:14:04]> or should we just note the slope of slow line has rolled over?
kmack [22:14:12]> 15m chart
@Linda [22:14:27]> think of the SLOW line as beeing the
bmcgeeusa [22:14:27]> What are the top and bottom lines of the channel?
@Linda [22:14:34]> eqivalent of the higher time rame FAST oscillator
jcosford [22:14:47]> Linda thanks getten writers cramp
kmack [22:14:54]> ok
@Linda [22:15:26]> CHRIS did fantastic job tonight!
nester [22:15:41]> yes ---THanks Chris
aporco [22:15:41]> yes thanks chris you rock
@Linda [22:15:43]> he puts his heart and soul into this stuff every day so i think HE must
have writer's cramp as well!
jcosford [22:15:48]> Chtis BRAVO
@chris [22:15:51]> Was fun !!
@Linda [22:15:54]> clap clap clap
cashin [22:16:06]> muchas gracias chris
fctrader [22:16:14]> Agree. Thanks Chris - now I know why your room was crowded on last
session of NY.
d4cordray [22:16:15]> We'll send him some Tiger Balm to sooth his typing muscles!!!
bingwong [22:16:18]> thanks again Chris, and thanks too Linda
jcosford [22:16:18]> that's very good point
HansB [22:16:19]> bene bene, molto bene
aporco [22:16:22]> and the oscar goes to ....chris terry
DCrismas [22:16:22]> More Clapping!!!
nightowl [22:16:24]> You never knew you could type so fast?
@Linda [22:16:25]> Everyone - have a GREAT week!
@Linda [22:16:30]> We wil leave this room open
fctrader [22:16:31]> You too.
nester [22:16:31]> my first visit - very impressed, thanks everyone
@Linda [22:16:37]> for all memebers to share ideas with each other tonight
aporco [22:16:38]> thx linda
kmack [22:16:40]> thx linda...chris...er...BIG!
@chris [22:16:41]> Lets go out with some MUSIC !!!
@Linda [22:17:01]> yeah - but room will be open for you guys to continue to share ideas
with each othere
bmcgeeusa [22:17:04]> Thank you again. Excellent room
@chris [22:17:07]> Dance Kmack !!!
@Linda [22:17:07]> !
kmack [22:17:28]> i am!!
jeffreyr [22:17:59]> tks Linda and Chris
@chris [22:18:13]> Go Aporco, shake em up
mhipskind [22:18:16]> x
@chris [22:18:19]> Goodnght Gang !
lrsbtrial [22:18:22]> kmack, you use tcnet?
kmack [22:18:27]> yes
boroata [22:18:33]> Lina, your comments are always appreciated
kmack [22:18:41]> same handle
mdbird [22:19:00]> chris what is the name of this song?
demo4 [22:19:01]> Thnaks for all great work Thanks to Linda and Chris -Have a good night
@chris [22:19:09]> Play that Funky Music
lrsbtrial [22:19:09]> still using p3?
mdbird [22:19:14]> th.
kmack [22:19:16]> this kinda sounds like rally music
mdbird [22:19:22]> thnx
kmack [22:19:33]> yes...still love teh phicube fractals
boroata [22:19:35]> goodnight Chris and tanks a lot
gwgator [22:19:43]> gracias ! Funky
lrsbtrial [22:19:53]> catch you over there... gn all
kmack [22:20:05]> no...that's not tank music
@chris [22:20:05]> ALERT : see you tomorrow gang !!
sdk312 [22:20:08]> ny comments on using cybertrader
tappy [22:20:08]> tanks Chris and Linda
nightowl [22:20:12]> Thank you!
kmack [22:20:12]> bye big!!
kmack [22:21:05]> ok..now that chris and linda have left...the party really starts
kmack [22:21:12]> right gang?
kmack [22:21:33]> jk!!
@chris [22:21:40]> I saw you dancing Kmack !!!
@chris [22:21:41]> bye
kmack [22:21:47]> great place...anyone have questions...throw them out
knowspin [22:22:14]> I think this is a quiet board kmack. I noticed during the trading day
very few member comments.
kmack [22:22:29]> pretty serious during trading hours
nightowl [22:22:36]> So a graill is a pulback to the 20MDA in a trending market?
kmack [22:22:41]> i have to hold myself back
kmack [22:23:03]> grail has a couple more qualifications
tappy [22:23:04]> still shaking my head about last weeks market, is is wild and wooly
wnough
kmack [22:23:11]> have to have adx >30
knowspin [22:23:17]> I'm still new so rather remain quiet and be thought a fool...........
(you know the rest) LOL
kmack [22:23:22]> and have to have penetrated the keltner
kmack [22:23:42]> i made ahuge fool of myself early on...lol
kmack [22:23:59]> guess i have no reputation to lose now!
ranger48 [22:24:15]> have you been able to simulate Keltners on TC2000?
mdbird [22:24:25]> how long have you been trading and are you making any money?
kmack [22:24:45]> no...because i use tradestation...haven't tried to put the keltner on
tcnet
ranger48 [22:25:18]> Yeah, i use TS also but can not get the keltner look on TC, thx..
kmack [22:25:36]> bet you could do it with CIs
kmack [22:26:02]> md..i am still paying traders tuition
kmack [22:26:17]> would love to see that change....i am ready any day now
ranger48 [22:26:26]> Yeah, I've done some 5 day Atr channels but the formula are long
and take quite an effort to get them thee.
mdbird [22:26:35]> i have been doing serious daytradng for about a year but have not got
out the hole yet. I am geting better. I over trade
ranger48 [22:26:40]> thee = there
mdbird [22:27:29]> they say it takes three to four years before you get pretty good!!
kmack [22:27:34]> i am rpobably aboit where you are md...but i like the
lbrgroup...learning a ton here
amsuarez3 [22:27:51]> what advice do you have for new traders?
kmack [22:27:52]> dang...i type like linda...why can't i trade like her
kmack [22:28:11]> i have tons of advice for new traders
kmack [22:28:26]> hmm...where do i start
mdbird [22:28:40]> Keep a record of the trades that work and then work those and
minimize the ones that lose you money. Sounds easy but it is hard!
kmack [22:28:40]> start samll
kmack [22:28:50]> small
kmack [22:29:09]> read trading in the zone by duoglas
kmack [22:29:15]> douglas
mdbird [22:29:33]> it takes quite a while to see what linda sees. It is like a forgein
language at first.
kmack [22:29:33]> follow your rules
kmack [22:29:47]> have a written trading plan
kmack [22:29:56]> it's all here in the classes actually
knowspin [22:30:02]> I preferred Alexander Elder's books to Douglas, but Douglas was
good as well. Just personal preference
kmack [22:30:22]> thx...i haven't read elder...need to
amsuarez3 [22:30:36]> thanks!
knowspin [22:30:53]> I highly recommend both his books, but particularly the second one.
kmack [22:30:56]> it takes awhile to find your timeframe...and mkt...your trading style
mdbird [22:31:08]> i have made some serious money on breakouts, but the contertrend
trades on a trading range day can bite you. You think they are going to reverse and the MM
play games with you and whipsaw you.
kmack [22:31:14]> which do you like best?
kmack [22:31:32]> elder?
knowspin [22:31:47]> yes elder
kmack [22:31:58]> which is best?
gentlemark [22:32:07]> Ari Kiev has a superior "trading in the Zone" title as well. He's a
psyciatrist who's worked with many competitors-- olymipc athletes, traders, etc. Says
trading is a competitve sport. Must understand it that way.
jpruiz6 [22:32:12]> any TS user have the easy language for an aotomatic trailing stop they
are willing to share...thanks
knowspin [22:32:16]> I found Doulglas' book hard to digest, but that was many years ago
jhend746 [22:32:50]> i like tharps's peak performance course
jhend746 [22:33:07]> really gets you focused on what nneds to be done
knowspin [22:33:27]> Sorry I use TS but don't have any thing like that. Did you try the TS
forums?
jpruiz6 [22:33:56]> konwspin...thanks i will try them
ranger48 [22:34:17]> There is a built in Stops Targets in the Strategy section that may fit
your needs in TS
bru44 [22:34:18]> tWO BAR LOW ?
kmack [22:34:27]> i have to run gang...enjoyed it!!
Swoop [22:34:33]> I liked douglas' rationale for scaling out of a position for those having
trouble taking profits
gentlemark [22:34:39]> I've studied trading forever it seems as I've worked up the capital
to go full-time, and it has been a very frustrating first month.
mdbird [22:34:41]> i use TS buy don't trade with it. I use Cyber trader! Linda doesn't use
TS. They use something else. How about you guys?
kmack [22:35:05]> i use TS for charting only
knowspin [22:35:22]> I trade w/ TS
mdbird [22:35:29]> i wouldn't go full time till i was making money partime!
gentlemark [22:36:28]> How has this past month been for you, my fellow traders? Good,
bad, ugly?
mdbird [22:36:31]> thiis is harder than i ever thought it was going to be. With out linda
and gang I would be lost!
knowspin [22:36:37]> I hadn't heard of Kiev, but I agree with that statement.
ranger48 [22:36:47]> good nite and thanks for the comments...good trading this week1
Swoop [22:36:52]> are you a member mdbird?
mdbird [22:37:11]> yes, have been for 6-8 months. Worth every penny
Swoop [22:37:27]> futures or stocks?
knowspin [22:37:38]> Feb was okay for me for both stocks and commodities
mdbird [22:38:05]> it is getting so i understand everthing they say, but got to gett better
and the art of it all... I trade the qqqq only
gentlemark [22:38:12]> Yes, that is why I am here. LBRgroup are my business partners.
I'm a partner, not a subscriber. I don't come here to read as I do the newspaper, but to
trade.
jpruiz6 [22:38:17]> I trade with TS, like it....have used Cyber and like TS better
antonio066 [22:38:23]> md, how do you find time to trade with a full-time job?
knowspin [22:38:31]> I took a 1 month subscription which is up this week. Debating
whether to sign up for a longer term or just another month
mdbird [22:39:10]> i own my own company....so i watch the market while sending out the
crews
mdbird [22:39:30]> why you like TS to trade better than Cyber
knowspin [22:40:13]> gentlemark, you mean you are actually a partner, or do you mean it
figuratively?
antonio066 [22:40:13]> I'm trying to come up with a trading plan that allows me to keep
my job... I'm thinking of focusing on daily charts or maybe trade the first 2 hours of the day
and then go to work
mdbird [22:40:23]> i sign up just a month at a time. I make trades that pay for three
months subscription just on their tips.
gentlemark [22:41:01]> I have had difficulty adjusting my own trading analysis and
excecution with that of Linda's and Chris's. I had become very dissaoppointed in missing
this huge 20 pt. swings this past month because although I wanted to take a position, I held
back .
scalper [22:41:24]> scalper:
gentlemark [22:41:31]> They're scalps are shroter and smaller than I was comfotable with.
mdbird [22:41:37]> that is what is is all about. Have to keep at it till you beat it
gentlemark [22:42:10]> I've been adjusting, and will soon come to a balance in following
the group and following my own plan as one unified trading plan.
mdbird [22:42:41]> they play on larger time frame but what they help you with in the chat
room is short term. Yet it works just as good on the long term. ONly problem is holding big
money over night.
bmcgeeusa [22:43:08]> Can anyone tell me what the top and bottome lines of the Keltner
channel are? I read the middle is 20 ema. Thanks
gentlemark [22:43:39]> Knowspin, figuratively....I have to look at this as a partnership
from a psycological perspective. After all that is what it is...
mdbird [22:44:29]> they are 2 1/2 units higher and lower.
ranger48 [22:44:38]> they are drawn 2.5 ATR's on the LBR charts, but the lines represent
a predetermined atr distance from the 20ema to the top or bottom lone
tpizzuti [22:44:39]> bmc, it't a Kelner channel. If your software doesn't have it bollinger
bands are similar though not the same.
gentlemark [22:44:40]> I know that they (LBRGroup) do not have to do this. They are here
because they love to teach, and by accounting their trading to us they are forced to be
sharp. It sharpens their trading.
tennispro [22:44:56]> the 20 ema is not the pivotal trigger to take a trade is it??
mdbird [22:45:19]> signing off thenks for chat
ranger48 [22:45:37]> Keltner are similar to Bollinger but are based on atr's and not
standard deviations...
knowspin [22:45:54]> gn
antonio066 [22:46:04]> momentum highs/lows as indicated by the 3/10 oscillator and price
poking through the Keltner channels is also important
bmcgeeusa [22:46:12]> ok thanks
nightowl [22:46:12]> Tennispro, are you a tennis pro?
tennispro [22:46:35]> no such luck
knowspin [22:46:36]> Has anyone been to their 3 day trading seminar?
tpizzuti [22:46:48]> yes
gentlemark [22:46:54]> No, but that is a future goal.
knowspin [22:47:03]> What did you think of it?
tpizzuti [22:47:16]> last year in Chicago. It's a good thing.
nightowl [22:47:24]> Sorry, or maybe lucky considering how hard it is... Did you know
Bolliteri trades futures?
jpruiz6 [22:48:00]> anybody in So CAl....Orange County?
tpizzuti [22:48:27]> Linda is a great speaker and has endless energy.. you will have info
overload when done.
knowspin [22:48:58]> I did take her 1 day seminar in NY last Feb.
tpizzuti [22:49:14]> she only stops when everyones eyes are glazed over :-)
knowspin [22:49:32]> :>D
knowspin [22:52:14]> well cya in the room tomorrow ladies and gentlemen
randersen [22:52:22]> i am SoCalian
@Dan [22:58:24]> night y'all

				
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