FROM DANERICS page tonight - ending diagonal in caseyou didnt know what RAVI has been referring to.
Also called an EXHAUSTION wave where wve iv overlaps wve i
ITS a TELLTALE WAVE for a REVERSAL
ITS NOT neccessary to MAKE ONE MORE HIGH as he shows it
the LAST ABC should have been enuf
Hadik Hit it on the head - 9700 on the 15th using cycle weeks progressions
SPX was NOTABLY weaker than the DOW- a telltale signal of weakness
IT is POSSIBLE that AFTER the C wave at 1056.04
might have traced out waves 1 and 2 of the NEXT WAVE DOWN
Which means that wave 3 should START from the OPEN, and might not look back for
that typical retracement after the gap open. but we will see how it behaves.
258 bars is NOT till 11;30 tomrrow
90 bars Thsday at 12;30
180 bars Friday at 1;30 AND 204 bars at 3;30
Mahendra is sadly mistaken about a crash FROM the 29th,
in fact as Ive posted - its a CRASH UP, from the 28th and or 29th.
and dont let me forget that. we dont want anon to be disapointed.
FLASH and I agree about a HIGHER high possible on Oct10th
and another serious decline FROM Oct10th to the 16th
WILD and CRAZY driving BULLS insane
more later
Jay
whats an anon, anyway ?
maybe some day that person will offer at least some initials
74 comments:
Jay Mahendra is saying around a 50 pt decline for this down move is that what your looking at around 1000 or so?
Futures around the level of yesterdays hi.
The last a, b, c ofin Dan's chart may be just a, the decline b and now in c.
Mike Swanson says we're in a Bull Market. He is the best trader in the world.
Jay and co. say we're going down today and tomorrow...WHERE?????? I don't see it. I don't think you'll ever see it.
Whatever Jay and co. say...do the opposite!
Where's the GAP down today boys?
Just your imagination baby!
Bulls are in full and total control here. Bears are going broke by the hour, day, week, month, and year.
It NEVER pays tobe a bear!~
Alvin
how many babies spoon-fed by the dead rock perm bear, like Jay, earn money? Why are you still waiting here for food, not to find food by yourselves? He is simply a moron, to say the least, to try and try again pin the top.
I'm a bear and been folowing this blog for a little while. Jay is hard working but I've made no money following his advice. Just the opposite, - I been losing money.
I'm getting sick of all this top calling, sick of all this bear sentiment while I see "stupid" people all around me who watch CNN like it is gospel and who have never seen a stockchart, make more money than me.
I AM SICK OF BEING A BEAR. SICK!
Liz
Liz,
you're so right. I feel for you. The market can only go up or down. Why the hell can't we choose UP for a change. I'm so pissed off right now. I'm going long and staying long until I see some conclusive evidence that the market is breaking support. Trying to "fortune-tell" when the market is making a Top or Bottom is killing me and I'm not the only one that's for sure.
Carl R
HA HA
Bears wrong again
HA HA
anon's are cowards that can't offer any substantial insights, only after thoughts of where we've been and who's wrong. At most they waste everyone's time.
Cal
Cal - give me your home address so I can come over and piss on your front doorstep.
I'd like to see you and just pummel your ass into oblivion.
BIG GAP UP!!!!!!!!!!!!!
Sorry but Cal and his bum-buddies are wrong again!!!!!!!!
Sam
okay I'm sorry guys. Yes, I am an insensitive turd.
Cal
I retract my statement about anon's and cowards. My dearest most sincere apologies to all those who have lost money following Jay's blog. Yes he is wrong again about the next 2 days. I know this hurts.
Cal
bears take heart
I GET THE PICTURE that
NOW IS THE TIME WHEN YOU JUST cant take any more - and you WANT TO THROW IN THE TOWEL
IT WORKS THE SAME AT BOTTOMS !!
The MKT really pushes the bull or bear PSYCH to the limit
IT NEVER seems to do it when Im in a bullish position
ITS AMAZING how the MKT MAKES YOU FEEL ***MOST*** STUPID JUST AT THE WRONG TIME
rrman
50pts spx is about right
SPT 2nd is the LAST LOW to be challenged at 995.
Shorting becomes a matter of SCALING in short positions as the mkt rises
ITS called SCALED trading and you can do it at EITHER END- from a descending mkt, and or a rising one
Reading TODAY calls for a SURPRISE development , and expect a RADICAL new course
TODAY could STILL could OFFER that OUTSIDE reversal day with a marginal new high and LOWER CLOSE
power index reached a high of 600 NEAR close yesterday and dropped off a tad as did the mkt
Todays power index starts at 600 and drops off all day till close at 425, then HEADS FOR A LOW at 300 tomrrow
POWER INDEX for 18th REBOUNDS
to 500 from that low of the 17th at 300
THUS WE WOULD LOOK FOR A LOW
on close of the 17th and I mentioned that LAST WEEK, and it agrees with a FLASH turn
Propens index rises back up to yesterday's highs and drops off to end the day lower.
I'll add more later as I think of anything else that is important
THE BIG DOWN DAYS are
17th and 23rd
GET READY TO BUY THE 25th and or 28th for that HUGE REBOUND to OCT 10th.
Jay
Settle down guys. I'm losing money too but getting all freaked out isn't helping no one.
I'm going it alone from now on so I won't be influenced by any other trader.
I will react to markets instead of trying to out guess them. The money you make waiting for confirmation far surpasses the money you lose frontrunning the market based on someone elses wild predictions.
Sally
bears take heart
I GET THE PICTURE that
NOW IS THE TIME WHEN YOU JUST cant take any more - and you WANT TO THROW IN THE TOWEL
IT WORKS THE SAME AT BOTTOMS !!
The MKT really pushes the bull or bear PSYCH to the limit
IT NEVER seems to do it when Im in a bullish position
ITS AMAZING how the MKT MAKES YOU FEEL ***MOST*** STUPID JUST AT THE WRONG TIME
rrman
50pts spx is about right
SPT 2nd is the LAST LOW to be challenged at 995.
Shorting becomes a matter of SCALING in short positions as the mkt rises
ITS called SCALED trading and you can do it at EITHER END- from a descending mkt, and or a rising one
Reading TODAY calls for a SURPRISE development , and expect a RADICAL new course
TODAY could STILL could OFFER that OUTSIDE reversal day with a marginal new high and LOWER CLOSE
power index reached a high of 600 NEAR close yesterday and dropped off a tad as did the mkt
Todays power index starts at 600 and drops off all day till close at 425, then HEADS FOR A LOW at 300 tomrrow
POWER INDEX for 18th REBOUNDS
to 500 from that low of the 17th at 300
THUS WE WOULD LOOK FOR A LOW
on close of the 17th and I mentioned that LAST WEEK, and it agrees with a FLASH turn
Propens index rises back up to yesterday's highs and drops off to end the day lower.
I'll add more later as I think of anything else that is important
THE BIG DOWN DAYS are
17th and 23rd
GET READY TO BUY THE 25th and or 28th for that HUGE REBOUND to OCT 10th.
Jay
My name is Cal and I have a sexual addiction to my Jim Cramer blow-up doll.
PLEASE NOTE,
WE had the SAME kinds of COMMENTS
the WEEK prior to Aug 28th
also ditto the week prior to August 7th
Each TIME we Approach a SERIOUS TURN, the BEARS get the URGE to THROW IT AWAY
DITTO -- DITTO -- same old - same old story
GET READY FOR THE PULLBACK TO BUY the NEXT OPP on SPT 25th and or 28th.
MORE LATER
Jay
Cal
Go get some help for that addiction. Sex addictions are no fun especially when they involve inanimate objects. I hope you wash your Jim Cramer doll after each use.
bobbybaby
Jay,
Give me a break. Why the hell can't you admit you are a loser? If you traded as you posted and if you still trade option, how much have you lost for this trade? 50% off or 95% off? Don't fool yourself and the others, like the moron Cal. If you are a bear, you always can find reasons why the top is here everyday when the market moves up.
remember when I told ALL OF you to
TONE DOWN YOUR COMMENTS
JUST PRIOR to when the MKT made a DOWN TURN
And its THE SAME THING TODAY
Jay
Fu@#$$@@$@%%%%%%%%%#@%@@KK!!!!!!
I just lost more moneytoday and I was short yesterday at closre!!
kyle
my hero is Jesse Livermore. Not the trading side of him. Rather the side of him which blew his own brains out because he lost all his money.
kyle
I posted SEVERAL TIMES
SPT16 TURN
Spt 17th BIG DOWN
Spt 23 BIG DOWN
SPT 25th BIG TURN
SHORTING yesterdays CLOSE does NOT lose $$
WE CANNOT EXPECT TO CATCH THE MAX LOW OR HIGH OF EVERY TURN
thus SCALE trading is a method that must be used to accumulate positions
SO FAR TODAY hit a MARGINAL NEW HIGH on the spx 1057.79 just as the POWER index suggested and now the rest of the day should head lower
THAT WAS RAVI'S Target earlier this week for the TOP of the TRIANGLE - WEDGE.
ACTIVITY index hit 300 at 6am this morning and is NOW FLAT line at 125 since 9am
Jay
Why are people here getting angry with Jay? He is sharing his methods for free and one should be thankful to him. If you felt his information was useless, why dodnt you stop visiting and just go away? Better yet, if one is a bull and is really confident that market is heading higher, then they should be thankful bears are there in this market shorting.
Continue your good work Jay. Ignore these rotten flaming your posts.
KK
KK
Get some help kk. You need to treat that delusional disorder of yours'
JackS
MARKET ISN'T GOING DOWN !!!!!!!!
WHAT NOW??????????
HELP !!!!!!!!!!!!!!!!!!!!!!!!!!!
Jada
Still 50 percent LONG qqqq from 41.39. Closed 50 percent at close for a .40 cent gain = 10 ES points.
Stop is rising on remaining 50 percent to 41.52 locking in another
profit. Trend is still up.
KK,
Good point. Let me tell you why. When you see a drunken man standing in front of a fast moving train and also calling others to stand there by his side, what should you do? "That's non my business". Is that your answer?
Don't worry, pee indicator and xtrends are still pointing down. Micromanage short from 1020 avg now at 1055.
sol and atilla
playing cat and mouse with top wedge around 1060.5 today
Victor is the only one making money here.
Cal and co. are losing BIGTIME....
AGAIN!!!!!!!!!!!!!!!!!!
cappy
I'm SICK of being a Bear. I just went long 100% in my retirement mutual fund. My 401k is going to rock now baby. cannot afford to sit on the sideline anymore and all my co-workers retire early.
Ferdinand
FROM FLASH: IT SEEMS THAT HE HAS GIVEN UP ON THIS PULL BACK? ??
@jaywiz10534 blew rt. past 1052 SPX; Oct. dates are in play now !
11 minutes ago from web in reply to jaywiz10534
nOW i WOULD GO LONG ON 25 TH ON A PULL BACK OTHERWISE WAIT UNTIL oCTOBER 1 0
Sally, You are right about 'REACTING'
rather than "PREDICTING".
That's why I am still LONG.
Guys, the USD is not going to keep retreating... Its hitting major res at 147xx. Im a bull as I have stated due to OIL and USD but if you look at the CDN$ its peaking at $94 so I cant see this bull to just keep going up. Energy is fueling the rise as well... Anyhow, the trend is up for this week and thats how Im playing it till Fri/Mon. I scaled back some wins in OIL and banks, I was early so I did leave money on the table but I cant pick the top and all who I review cant pick a top either. Hence as Jay said,,,SCALE in and OUT. I follow this theory as it makes sense to me and has worked for the most part.... Invest in the direction of the intermediate trend which is Clearly UP. When an uptrend is first triggered, buy the breakout. After an uptrend is established, buy the dips. Conversely, when a downtrend is first triggered, Sell the breakdown. After the downtrend is established, sell recovery bounces.
Anyhow, it will all work out in the end : )
Joseph
Me too Ferd.
Time to go long. The government has given the green light on the economy and I trust my president and the FED more than anything. I'm an American and proud of it. We are the greatest country in the world. We own the world. I support the war in Iraq. As a christian we must eradicate the muslim faith all over the world and promote our christian democratic capitalist values everywhere even by force because god said so. Go USA and Barrack obama even though I;m a republican I still stand by my president because my evangelical minister says that I must follow my gvernment because the government is ordained of god. He also told me that 10$% of everything I make I must give to him otherwise I won't be blessed with riches and material wealth like he has.
You should all dowhat I do and you'll become rich...one day.
David
david.
you are one scary dude.
Cal
Cal, Are you a christian? Are you an American?
If you answer "yes" to both than you must support your country, president, and all those in authority as your christian duty. Our government is ordained by God therefore when the president speaks , it's like a command from god himself. I believe my minister more than I believe my wife because he works so hard making sure we get to heaven. He told me it's alright to invest my money in America because we are patriots and we don't want to give our money to europe or china which are our spiritual enemies and enemies of America...god bless America. That's I'm investing long now because America needs our support and in turn they will make sure we retire comfortably. My minister owns a huge house. It almost looks like a mansion. He drives a cadilac escalade and his wife drives a corvette believe it or not. She's real cool and gorgeous too. He says I'll have my mansion one day if I keep paying my taxes and keep paying my tithes to the church.
So everyone. Go Long and do the right thing. You will be rewarded for your loyalty and faith in god, country, president and your local law enforcement, and let's not forget our military who are acting as crusaders around the world promoting christianity and democracy and the American dream.
I feel so inspired that I think I'm going to buy sometech stocks now.
David
Anon,
Unfortunately, market is a zero sum game and not you win, I win. You lose, I win and vice versa. If you are to see a drunken man in front a freight train and you stand to gain ONLY IF he gets run over, then why bother? Why save him?
KK
place a limit order at ES Z at 1064 and stop at 1066
This non-ED fifth wave count from 1035 is valid as long as we do not exceed 1065.49.
i 1035.00 1051.80 16.80
ii 1051.80 1043.42 -8.38 -49.9% of i
iii 1043.42 1056.04 12.62 75.1% of i
iv 1056.04 1052.87 -3.17 37.8% of ii
v 1052.87 1065.22 12.35 97.9% of iii
v=iii 1065.49
Look at a chart of FDX its cratering I usually watch it as a forcast for the spx down 1.73 today
Today's high is the 1300 area.
Any meaningful downside occurs closest to the bell today.
FWIW closed last 50 percent long qqqq
at 42.37 for a .99 gain or 25 es points. Now flat
Listen Up. This is jj.
I'm going to make a prediction that will scare Jay and followers alike.
This market will not correct until next spring! Period!
Don't expect any major correction this October. It ain't happening.
I can't explain why because I'm scared for my life if I do.
The national securty of the United States of America is at stake and will not be permitted to take place.
We are all being monitored, in fact the united States Government will in the future shut down sites like this they deem a national security threat .
This is not a joke!
But all holding long-term shorts will lose, I have no doubt about that.
jj
I posted
This non-ED fifth wave count from 1035 is valid as long as we do not exceed 1065.49.
Sorry, that should be 1066.97
At the very least, v of (v) from 991 is extending.
It could even be iii of (v) which will imply much higher targets.
Wedge at 1060.5 has broken and will be significant if we do not close below that.
certainly seems like its gonna be 10 straight days up.
Scale trading = blowing up your account.
Much better to wait for confirmation of a turn.
A2
10 straight days up tend to be followed by 10 straight days down.
Seen it before and I wouldn't rule it out.
Simon
don't the wedge break in wrong direction and then turn around big time.
went short at ES z 1062.25. couldn't get 1064 price.
A2
Right on. I'm flat and waiting.
Sally, A2, others.
I agree. Confirmation is much better, healthier and more profitable than trying to anticipate a move. Do you honestly think the other side--our competition can't see our moves only to hold and fake us out. It happens in war, sports, everyday.
YOU NEVER REVEAL YOUR INTENTIONS IN ADVANCE ESPECIALLY IN THE STOCK MARKET.
Moby
Hi, scale trading does not blow up your account if your direction is where the trend is moving.....
Thanks, Joseph
calling tops or bottoms is not the right way to trade,but sometimes it is best to scale in when you have a number of points in your favour such as time/price extremities etc.but we are in exceptional trading conditions as of 2007 and different constraints must be adhered to.i dont think any long term short can feel safe until 950 breaks imo.medium term 1029.
I just went Short. Got signals flashing.
Mark
We are getting close to finishing an extended five wave move from today's bottom.
It is either iii of (v), in which case we correct towards 1063 +- and go up higher in v of (v); or it is iii of (iii) in which case, we have quite a bit ahead of us towards 1090s.
Ravi
MortiES' Tip ~ Watch for strong resistance at 1063.75! $ES_F$$
about 1 hour ago from web
scale trading is something I also did when I was an amateur until I realized there is no such thing as a dead sure trade.
The amateur calculates how much he is going to earn, how fast he'll be a millionaire, takes a huge scale trading bet and blows up his account.
The professional calculates how much he is risking, follows his stops and his targets, he is disciplined and has many small wins. Only rarely a big killing.
I respect Jay for his many good calls, but recommending scale trading to a bunch of amateurs is reckless behavior.
regards,
A2
Now this is it
A2:
I strongly agree with you on scale trading.
samamehta
was that "this is" based on brak of channel fro day's low??
xlf has been trending down for the last hour stochs are turned down
I meant resistance from 1063.75 es. It broke 20sma but not doing the 50 sma yet at 1066.
That's all I trade is Moving Averages. It's Primary numero Uno for me.
After that I like to add E-wave, AStro, Fibo, Gann, etc.
But MA's is da Bomb Baby yeahhh
Mark
Let us see, if 20 sma is now a resistance that will tell the story. if it goes to 1067 get ready for big up move to 1080
drop below 1064 should seal the deal for bears for at least 20 points
I advice "relaxation pulse trading"
Relax and wait for confirmation.
Did the market run away from you and you lost the train? -relax there will be another set up.
Take a small position so that your heart beat doesn't increase one bit, no sweating, no disturbed sleep, no stress hormones at all.
This keeps your head clear and your mood steady.
if you are beating your dog and yelling at your wife because of all the trading-stress, then you're on a downward spiral.
relaxe, breathe, and try a smile
:-)
A2
Trend is still up but rolling over.
Still flat after closing longs
great post A2.
http://www.youtube.com/watch?v=BF1ufbQocIM&feature=player_embedded
good video on what the CME Traders are saying
I agree with you A2 100%.
got out at break even as it bounced off the 50sma.
it is better to catch the train while it is moving. On the long side it is too risky. would wait for confirmation on the dwonside.
A2.
That is good advice .....BUT.....
only after you figure out wtf you're doing.
Knowledge, Understanding, Wisdom are the only things that alleviate FEAR.
Work on your system and methodology constantly and then you can relax....a bit....lol.
Marty
Hi A2, I guess Im an amateur... I will pick up what I can from smart folks such as Jay, Ravi and many others such as yourself... thats what this blog is for. As long as Im making a few bucks and not risking major capital then Im fine... Scale trading has worked well for me and my family since march 20th when i got back in. YES I have left money on the table as early as this week with OIL and 2 weeks ago with RY/TD CDN banks but I didnt sell my whole position,,,, I scaled IN and OUT. Made money and still have LONGs, will bounce again soon and drop out in OCT. Dont want to take any further risks and will wait it out unless the data tells me otherwise. Will keep my DIVidend eq, OIL and AG stocks and all of my HIGH Yield bonds that have KICKED major ass incld GMAC that I made a awesome return on
Thanks
Joseph
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