Runner's Rascals

[Runner]

[Runner]

Anyone care to give a stab on my waves? Not for sure so take with a grain of sand!!
If 5-wave completion is in we should have 3 waves down. This chart is of the Nasdaq. This is assuming that wave 3 is finished at the 50% fib line.

[Runner]

[skiracer]

I'm not sure which way it's going to track but here's something that I found of interest about the last four days of last week. You can't hide the big money selling off. Of course that doesn't mean it will continue into this week. We got a little something at the end today but still didn't amount to an accumulation day.

The upper is the S&P 500 and the lower is the Nasdaq. Unless you actually track the up and down days of volume vs gain and loss in each of the indices it's easy to not see what the institutional money is doing because they are like thieves in the night an everything they do is to mask their manuevers from the retail guys. These charts don't lie an are indicative of discreet distribution last week. This isn't sector rotation out of one into another. This is selling off postions into strength at the end of the day to get into cash.

[Runner]

Ski, thanks for the great info!!

[Runner]

Monday watch:
BBH (Bio) to reverse up
OIH (Oil) long signal still valid, but might run out of steam soon
RTH (retail) MLS in place waiting trigger line
SWH (software) looking short off MSH

Wed:
BBH (bio long)
HHH (internet short)
PPH (Pharm)
RTH (long)
SWH ( waiting for trigger line)

[dmk112]

Skiracer, where are you getting those article images from if you don't mind me asking

[skiracer]

DMK112,
I get those reports from an outfit called Morpheus Trading Group. It's run by a guy named Deron Wagner who is a swing trader dealing in ETF's and stocks. I subscribe to his daily ETF report which he calls the "Wagner Daily". You can access his reports and everything else free at his site,
Morpheustradinggroup.com. Definitely worth taking a look at an you can sign up for a free 1 month trial. Let me know if you have any problem accessing his site or manuevering around there. There are also a couple of other free reports you can sign up for from him. He's a pretty sharp guy and anyone would learn alot from him.

[IIC]

Ski...Your post about the times of day stuff reminds me of a trader friend of mine...He is F/T...watches the market all day and then buys movers on vol in the last hour...mostly in the last 15-20mins. His theory is that the majority don't know what is happening...so they put in Market orders at the open the next day because they heard about something the night before...then he cashes out... usually during the first 20 mins the next morn.

[skiracer]

I can't say I never make any trades within the first half hour after the open but I try to keep that rule. To many times of getting my head handed to me from buying in the premarket or right at the open an then in a half hour or so it fails to hold the gap up or down an I'm left holding the proverbial bag. Your buddy has a good plan as long as he can stay right on top of those moves.

[Runner]

[Runner]

[Runner]

Loaded it yesterday and forgot about it!!

[Runner]

Looks as if were in Bear Country!!

[Runner]