Wednesday, January 07, 2009

Market Update



No change in chart analysis as new weekly bar has not clearly broken out of wedge pattern. The longer it takes to break upward, the less likely it will. Any breakdown from here will suggest a wicked decline, taking all the new bulls out for the count.

A

25 comments:

Anonymous said...

Allan:

Two questions:

1) What is that chart called with the vertical blue lines?

2) How do you trade it/ How is it used?

I'll use my initials to protect my identity,

JK in NYC

Allan said...

JK: It's a real time version of Advanced GET. As for how I trade it, that is proprietary, although most of the effective trading tools are powerful enough that they don't need too much tweaking. Vertical blue lines? What are you smoking?

Anonymous said...

As for what I am smoking, YOU sold it to me, remember? You said "this is my best kept trading secret I use it every time before I place a trade" then handed me a bag of some sort of green stuff.

I know it is GET.

But right below the price action is some sort of oscillator /indicator with vertical blue lines and horizontal black lines. Is it proprietary for you to at least give out the NAME of that GET oscillator? Keeping how you use it proprietary.

JK in NYC

Allan said...

My bad, JK, I was looking on the price chart for vertical blue lines, ignoring the indicator windows. What you are referring to is called the GET oscillator, liken it to an MACD that is measuring momentum of the price movement above and giving clues as to where the price bars are in traditional Elliott Wave structures. I put it on all my A-GET charts because it has multiple uses in addition to confirming wave counts.

Anonymous said...

Danke:

Now I am gettng ready to place a trade so I will start using some of your "stuff" first.

JK in NYC.

Anonymous said...

Your thoughts are in agreement with Neowave analysis. Next move down will be painful for the bulls and complete the final stage of a cruel bear market.
Load up on SDS, REW, and DXD for the final ride down.

ROB G said...

allan what do you think of the news on gfre ?

Anonymous said...

DO WHAT YOU DO BEST.

Anonymous said...

hI!
Re. loading up un SDS, REW, DXD ?

Why not QID?

Do you need all three ultrashorts

regards
EFA

Anonymous said...

Allan,

Dick Cheney just said "no one saw the financial crisis coming." I hope you won't be offended, I sent him a link to your blog. After all, he only has the FBI and the CIA to find out what's goin on! Obama says printing up a trillion new dollars might make some of us feel better? Please have a review of your thoughts on some of the junior golds. I honestly am afraid of what might come next. Joe/NYC

Anonymous said...

Allan:

After today's job loss numbers and everything else, why should we not all be investing in a .44 magnum rifle and lots of ammo.

Armageddon is at hand my friends.

Start shorting the stock market and he entire US. All of my AdvancedGET indicators are short.

Allan, do you own any personal weaponry? If so could you tell us what?

Thanks and get that shorting going. SHORT SHORT SHORT SHORT

JK in NYC

Anonymous said...

It wasn't as if bad unemployment numbers weren't expected. Oh, btw, here's a news flash. More bad news to come for at least another 6 months.

Anonymous said...

JK, Allan is a trader, not a survivalist. CHILL DUDE!

Allan said...

The country (and world) is not prepared for the next leg down in both the economy and the market. That's where real fear will grip all, even the perma-bears. At just the right moment, we will go long, just as most are panicking out at any cost. That is our game plan.

Anonymous said...

Allan
should close tgb now at any cost?

Anonymous said...

I hate to say it but JK does make a good point for self preservation. The more this market declines and we see job loss, the more desperate and crazy people will get. People have to eat, put clothes on their backs, and provide shelter for their families. They don't care about you or me. This economy is so selfish and life is survival of the fittest, don't ever forget that. When it comes to you or me...it's you that's going to go.

My recommendation before we all get violent? Everyone go to a local car auction and pick up a $300 POS beater car so no one knows you have any money! Problem side-stepped. That's an investment!

How about stocks of Dollar General too, they're likely to see more business as people are forced to penny pinch.

Anyone else get 18" of snow last night? Wish I could invest in that, I'd be way-rich.

-PSU Eric

Allan said...

re: TGB

I'm holding here, against a very large short position in the Nasdaq and Russell indexes.

David said...

Allan, from your comment can we assume that you are assuming wave 4 is done and have officially gone short?

Allan said...

David: In the S&P the wedge (see earlier weekly chart) will be broken to the downside by trading below 875-885 support range. I have been building my short positions on rallies this week in anticipation of that breach. But I am using other techniques modeled for short-term trading to manage this position. So the answer is, No, the breakdown is close but not there yet, nonetheless there have been short opportunities on the road to Armageddon.

David said...

Thanks, Allan. I didn't think the breakdown had started yet, but just wanted to be sure I hadn't missed something.

Anonymous said...

Allan & Eric:

Both of you- excellent reasoning as always. You guys never seem to make
mistakes (no I am not being sarcastic).

Now if you two guys could pool your intellects and write a short book on how to deal with women THEN some real $$ would start pouring into this thing! ;)

JK in NYC (loading up- both on SPX puts and my .44 magnum rifle)

Anonymous said...

Allan:

Any news on how Cramer has been doping over the past quarter? I've not sen anything from you about him
recently.

BTW, your name & fund came up in another Goldman executive meeting recently.

Phil in Manhattan

Marmaduke Weatherall, IV said...

Gentlemen:

I've been following this blog for some time with great interest.

Let me just say that "old money" is still out there and is being put behind the trades set forth on this blog.

MW

Anonymous said...

JK, the good thing about the .44 Mag rifle is you don't even need to shoot it. Just whip that puppy out and it'll scare the shit out of most people. Very effective.

Allan's the man here, not me. I ask questions, I don't provide answers.

If I wrote any book about women it would be short, one page or so, and say "leave them alone" if you can. All your womenly investment should be in $1 bills to girls "who are only stripping to pay their tuition" as they always seem to say. In typical response, "stop talking or you're not getting this dollar".

And lastly, please don't tell my wife I said any of this.

Have a good weekend all!

-PSU Eric

Anonymous said...

Eric:

For $20K I will not tell your wife.

Small bills only. Mail drop location upon request.

JK in NYC.