Interesting Chart Patterns To Monitor In Coming Days...

[pmurraymc]

Count me in... and keep up the good work.

Paul.

[MR]

Hi,

For review: On 13 May, 2005, I posted the following BG 90 minute chart (see below)
and the following discussion developed. I will post in a few moments a current chart.
- - - - - - - - -

Originally posted by Philby- Posted: 05-14-2005 01:12 AM
Regarding MR's BG position, I would have thought another indicator would be to track the 5,35 for the W5 position and as it looks to peak higher than the existing W3, the elliot position will recount and place the new high as a W3.

When in this position I sometimes keep testing the count with the alternate 3 - long term ellot option to see if the count stays as a W5 or switches to a W3.

Any comments on this type of early test for a Wave recount ?

Originally posted by MR- Posted: 05-14-2005 12:59 AM
Hi Ainsley!

I compensate for trades where not all the primary parameters are supportive by taking smaller positions.
While the PTI is less than 34, it is still above 30. I find this acceptable for a PTI.

Other than that, I like this trade. If I am wrong I will only lose a little bit with a smaller position.
Also, I might cover it quicker if changing conditions warrant it.

When you trade you take the best you can find for that day. If we waited for perfection
sometimes we still might be waiting. Hope this helps.

Originally posted by Ainsley- PTI < 35 ? - Posted: 05-13-2005 06:24 PM
Hello Mark, it doesnt rain but it pours, thats the way the opportunities come I guess.

With regard to ths chart, you have entered with a low PTI, so the theory seems to indicate that the previous wave 3 may not be exceeded ie a double top of sorts, could you explain your reasoning on this one please.

Thanks, your tips are much appreciated

[MR]

BG 90 min update

Here is the current 90 minute BG chart. Target almost hit, but I am still going to stay Long and NOT cover.
Is only a very small position. (Remember previous discussion... I compensated for the low PTI by only
taking a small position."

[MR]

Elliott Wave theory is based on the notion people are motivated by fear and greed. To show you even experts goof up once in a while, I will show you a stock I bought near the high at $5.50. I bought this stock because it was cheap. At the time I thought, why don't I just wait for the pullback? I got greedy and cocky, and bought it near the high, knowing it was going to correct. Ideally, the current price area (see attached SGH hourly chart) is where the very best risk/reward setup exists. One more thing, it is technically possible this pattern could some day relabel as a Major Wave 1 and Major Wave 2 pullback. If that were to ever happen it would go to the current second Wave 5 target. This is basically why I am not too upset about buying high. I made a mistake but now I think I can still live with it knowing the Wave 1/2 relabeling idea is a good possibility. I may just have to be a little more patient this time, and not so greedy this time...

[MR]

BOOM

Duane, remember when I told you your BOOM was going to be a good trade... (see chart below). . . .
updated chart post coming in a few moments...

[MR]

BOOM current

Here is current BOOM (2:45PMest). . . .
more and more like a winning trade no
matter what.... good call, Duane!!!

[MR]

Part of this scenario seems to be coming true (this quote was posted here last Friday afternoon). . . .

Originally posted by MR - Posted: 05-20-2005 03:34 PM

I like to build scenarios in my head for the coming week trade possibilities.
I call it "monitoring for the obvious, but trying to anticipate the unexpected."
(It means truly trying to think differently then current market consensus.)
Here is what I think could happen next week:

Most traders think the market is ready for a couple days rest,
but what happens IF. . . .

NY Crude Oil opens weak Monday, Tuesday or Wednesday at the latest.
Crude finally stays down below $48. It might even push to $47.01 in one day???
(I like to dream precise ) The profit-taking position squaring anticipated by
institutional traders does not happen before Memorial Day weekend as anticipated.
This forces the overall market to continue to work higher, the Nasdaq stock market,
in particular, gains strong, totally surprising experts.

Our summer rally is officially recognized by the media before June 1, 2005.
Leading stocks begin to be easily identified. When we come back from holiday,
marekt momentum spreads out to other sectors.

That is what I would like to see happen. I am not God so I really don't know.
But if it does, I have thought out a plan what to do next. Stay tuned for details.
IF this scenario correctly plays out as anticipated, I think this would really be
unexpected, a surprise people. The market doesn't like surprises. . .
but i do!

Best wishes to all, have a good weekend!

[DuaneG]

Hi Marc,

Thanks for the compliments. BOOM still seems to be working well and behaving admirably. Here is a different perspective that I thought I would share. It's a bit of a mix between traditional technical analysis and some of the Advanced Get indicators. Regardless of perspective, the Advanced Get Type I was the catalyst for this trade. Have fun....

[MR]

Re: BOOM

Hi again, Duane...

As a supplimental comment... the hourly, 30, and 15 minute charts did form another
nice Advanced GET Type 1 buy opportunity, as suggested to look for last Wednesday
in this thread! I wonder why more people aren't noticing these setups?

Take care and keep posting your very good ideas, Duane!

Originally posted by MR-- BOOM Posted: 05-18-2005 03:01 PM

Duane,

When you first posted BOOM I thought to myself it was going to turn out
to be a good trade. Still think you picked a good stock. I missed it
because of the gap. If long, might be wise to lock in a profit moving a
trailing stop up to below yesterday's low.

If very a aggressive trader, look at the hourly, 30 and 15 minute times.
Maybe another Type 1 buy opportunity setting up?

[MR]

Approximately 25 "Yes" votes so far.
IF 100 people vote Yes before Memorial Day that
they want me to help them get better using AGET
tools, techniques and methodologies on an truly
advanced level, then I will commit to a 3-month test.
Thanks. Marc

[donv]

Marc, I'm not sure 100 people actively follow this board so it may be a stretch to get 100 replies saying "YES please post". It's obvious from the replies there is support for your work but personally I would rather you do what you propose because "you" want to and it helps your trading not because of a popularity contest. It just seems a little odd to place this condition on your participation. Nothing personal but doesn't seem like something you would do, I'm a little surprised I guess.

donv

[Steady]

I would advise all active members to post some set ups and trades they have put on.

Today I shorted ITT & DIA just to name 2, ITT on a daily and weekly looks to have completed wave 4 up and the DIA hit my daily projection "SELL" If your using AGET you can see the set up's clearly.

[MR]

donv, I have gone from doing Trader's Outlook posts with thousands of people reading those posts to what now only looks like around 25 people. I am just trying to gauge is there really enough interest here anymore. Secondly, I am asking people to identify themselves with a 'yes' vote because if I do this work, I plan on focusing in on a new File Share group to be created. The only people who will be invited to join are those people who voted yes. With a controlled environment I can concentrate on identifying quality trades using AGET higher level tools without having to explain things or answer questions. I can trade real well, but I cannot always explain things well. A File Share group gives me the ability to ban someone if it helps the whole group function better. This is my motivation. Popularity is not.

Originally posted by donv
Marc, I'm not sure 100 people actively follow this board so it may be a stretch to get 100 replies saying "YES please post". It's obvious from the replies there is support for your work but personally I would rather you do what you propose because "you" want to and it helps your trading not because of a popularity contest. It just seems a little odd to place this condition on your participation. Nothing personal but doesn't seem like something you would do, I'm a little surprised I guess.

donv

[tkeough]

My last vote did not have a &quot;Yes&quot;

Yes

Originally posted by tkeough
count my vote too...
Tom


I just want to see how many people would want me to commit to such a project. If enough people vote, then I will make the committment for three months to do my very best work. I will not explain things, just do my best work and let the results do the speaking. Thanks again. -marc

[dboile]

Yes, just learned of this thread.