Interesting Chart Patterns To Monitor In Coming Days...

[MR]

I accidently went back to one of my original posts done 3 years ago in this thread. Below is the Copper chart posted then where I said it felt like a wave 3 not a 5 top. I remember at that time that was a pretty gutsy call because the fear was pretty strong at that time copper was going to top out soon.... Boy was I right on about that comment. Little did I know three years later high-grade Copper would continue that trend up to this very day as it pushes to newer highs considerably higher, having earlier traded at a record $2.494 a pound.

[MR]

Here is NY HG copper now.... WOW!

[MR]

Posted earlier elsewhere, sharing with my AGET friends....

Marc Rinehart 8:39 AM, Friday, 31 March 2006-- It's friday, and it is the end of the month. Anything can happen today. European markets dipping just a little. Seems like a little profit-taking going on in the NY energy futures contracts, and NY gold and silver down a hair after a great day yesterday. We have consumer sentiment coming out at 9:45, at 10:00 a manufacturing and Chicago Business Barometer Index report.

[MR]

Not that it matters, but I stayed fully invested. I am backing up my opinions and observations with my own money. If I had more money, I can honestly see other places to put it to use.

[MR]

Posted earlier elsewhere, sharing with my AGET friends....

Marc Rinehart 9:09 AM, Monday, 3 April 2006-- Pre-market suggests the US overall market has very good potential to hold up in positive territory today. It is the first day of a new quarter, a new month, so this sometimes means mutual funds do their portfolio adjustments, or strategy changes, or whatever they do with our retirement and investment money. This makes me a little encouraged we can hold up today, in general, as suggested by pre-market trading behavior.

When I analyze NY energy and metals futures contracts, it suggests to me higher prices are coming in those key commodities. I am not sure why but as they extend their trends higher, the market seems to be holding up well considering these potentially higher inflationary concerns that will show up in future government reports. Are they factored into this market? It think to some degree they may be. More and more the street will be talking about anticipating more higher interest rates to come this year. When you look at the interest rate related futures contracts you can see anticipation happening already in their recent trading trends. For now, however, I sense the US markets can hold last quarters gains and translate them into a respectable 2nd quarter.

I honestly think US stock prices, in general, still have potential to appreciate some more. It does not mean short-term trading is necessarily going to get easier than it has been the past few months, but it does suggest if we continue to be flexible and selective about those opportunities we choose-- and buying at the right time and price-- we should continue to find good trades.

Later this year, I am sensing a change in US Fed policy may be enacted to raise interest rates more quicker, and then our party will be curtailed.

Hope you all had a good weekend! May all your trades go your way this week!

[MR]

Posted a few moments earlier, elsewhere, sharing with my AGET friends....

Marc Rinehart 10:01 AM, Wednesday, 5 April 2006-- I am going to go out on a limb and say I believe the US market will hold up today. There is a key 10:30AM report, then the market is more free to act or react and reveal its true convictions. I have a slight feeling it wants to go higher today....

If the overall market holds up for this morning, odds improve will can see what I predict happen.

One reason why I am optimistic, some of the stocks I am in, or would have been in if I had more money are all doing very well this morning... stocks such as: USG, SNDK, SHLD, AAPL. Maybe I am just picking good stocks? If this type of buy energy can stread out we will see my dream happen... if not, we go back to defensive trading once again.

[MR]

Here is an update of Sears Holding (SHLD),
a possible Type 1 Buy setup posted in this thread back on March 28th.
Below is a review of that post, to be followed by the current chart.

[MR]

Here is the same SHLD chart, current action....

[MR]

I intimated, mentioned Apple (AAPL) as a possible Type 1 longer term buy candidate (see below last weeks comments.)
Today AAPL is making a move that will attract more buyers on the next pullback. It is still a respectable stock still with a big following.

Originally posted by MR
Few things:
(1) Was looking for a rally to happen the end of this week. (see previous posts below) Didn't anticipate Wednesday rally starting, but today's (Thur) open is encouraging we are on track with idea. (NY Composite, Value Line, just made a newer high, for example.
(2) The gentleman who asked me questions about his stocks-- BBD, UBB, PCZ, CNQ, and GLD-- I said would track and update on them to help him.... your GLD newer high today and looks like it can continue... CNQ and PCZ on track to working to previous high and starting that trek up today more clearly... yur BBD and UBB will be ok longer term you just need patience on them as they form a more complex wave 4 is all.
(3) Gold clearly taking off now and on its way to $600 is my guess. Silver bigger Wave 3 in progress. Energy stocks worth a looksee.

(4) bonus- AAPL weekly wave 4 bottoming bet u... watch for dip now and consider evaluating the potential longer term here....

[MR]

Here is a AAPL example today.

[MR]

Take a look at longer-term patterns today. Notice how similiar SNDK wave count structure and pattern is to say AAPL, and others running today. As a contrarian, it is one reason why I bought into SNDK recently. Could it mean a W5 coming? I took a gamble the bottom was in place. So far it is paying off.

[MR]

We have 40 minutes or so left in today's market action... I wanted to repeat what I posted at the beginning of today. So far my optimism has been correct, and those four stocks I mentioned earlier today have also continued to move strongly up some more since first mentioned in the AM. I think we are still going higher.

Originally posted by MR - Posted: 04-05-2006 10:24 AM
Posted a few moments earlier, elsewhere, sharing with my AGET friends....


If the overall market holds up for this morning, odds improve will can see what I predict happen.

One reason why I am optimistic, some of the stocks I am in, or would have been in if I had more money are all doing very well this morning... stocks such as: USG, SNDK, SHLD, AAPL. Maybe I am just picking good stocks? If this type of buy energy can stread out we will see my dream happen... if not, we go back to defensive trading once again.

[MR]

This is what I meant by the previous post of seeing what I predict happen....

Originally posted by MRPosted: 04-03-2006 10:31 AM
Not that it matters, but I stayed fully invested. I am backing up my opinions and observations
with my own money. If I had more money, I can honestly see other places to put it to use.

Scroll down a page or two and get a better understanding by reading previous recent posts.

[MR]

Posted earlier elsewhere, sharing with my AGET friends....

Marc Rinehart 11:50 AM, Friday, 7 April 2006--
... Once again many US indicies open to newer highs only to get pounded on about an hour or so into trading...
This time I was better prepared. I was forced out of some trades this morning because of tighter than normal stops
and gave up $1,500 in profit, but at least this time was able to keep $4,000+ in gains accumulated the past 8 or so trading days....

.... Trading is not just about risk/reward, but can also be about adding psychology to our money management strategies.

As a side comment... as an intuitive move, if I could trade Short, I would considering a day-trade Short setup if something of quality popped up....

Next week-- if I decide to do any new buy setups will post them in my other thread.

[MR]

Posted earlier elsewhere, sharing with my AGET friends....

Marc Rinehart 11:55 AM, Monday, 7 April 2006-- I must admit to now being able to afford greater flexibility in dealing with whatever our US market dishes out this week. Being forced out of some winning trades late last week after maintaining very tight stops now gives me about 70% cash, with only small positions left. It gives me a psychological advantage of not having to worry anymore in our irratic markets. Our US market can do whatever it wants now. I am still interested in finding some short-term trade buys, but will remain more selective, will trade more aggressively using tighter trailing stops, and will take quicker profits. I will be monitoring more closely our markets behavior Monday, Tuesday, Wednesday and report back here anything useful. . . . Thanks, and good luck, best wishes to you in your trading this week.

(FWIW... right now energy and metal group stocks still kind of interest me a little. If they continue to trend strongly this week, it is also possible we may witness more profit-taking filter back into our overall US market while more mutual fund money may continue to flow back into these two strongly trending commodity sectors... is my guess.)