Thursday, January 28, 2010

Room with a view

Three 60 minute charts of the S&P (SPX) from the perspectives of Renko, 3-Line Break and traditional Candlesticks.



Renko



3-Line Break



 Remnants of the Big Bang


Discussion

What's life? 
A magazine.
How much does it cost?
It cost 20c.
I only have a nickel.
That's tough.


18 comments:

Anonymous said...

Allan, Got a take on ISCO and the upward push here over the last couple days. You think this is just left over hype from 2 weeks ago or could there be something brewing here?

TIA

Allan said...

ISCO daily trend model trigger is at about 1.02, so buying as close to that level as possible and then dumping if it closes under 1.00 would be my take.

Link McGinnis said...

Allan,

I like the clean look of that Renko chart (it slices and dices).

Q1. I remember from the Jan 2 post that you ran a back-test on the daily signals with weekly filter. Also, at one time there was discussion of using the Vortex to govern. Are those still used in your model?

Q2. If I could only invest in one, would it be NNVC or GNVC?

Thanks!

Allan said...

Link,

(1) My trade models use a single algorithm, but I do use things like Vortex for perspective.....whatever that is.

(2) NNVC

A

t said...

Yes,Renko looks good to the eye.

and it looks like a nice clean 5 wave structure developing from the top.

wave 4 finishing....waiting for wave 5 today and tomorrow ,maybe to complete.
and REVERSE ?

t said...

Looking at ISCO chart now, basic fib levels from the waves beginning ,at the .50-.60 area
to current top at 115-120 area,

with .80-.90 right in the middle,

basic fibonacci shows 38% correction goes to .95-1.00 area

50% fib goes back to the .80-90 area

and 62% fib goes to the
.75-80 area.

The 200 MA is at .74

the last double bottom hammer tails held firm at
.80 triggering the blast off to 1.15.(now 1.25)

50% retrace from .80 and1.20 = 1.00

I wish I could sell the spike like others do ,but I cant pull the trigger.
you gotta believe its coming back down for a breather....but I just cant take the profit.
its a core holding.
Am I stupid for just 'holding' it?

Anonymous said...

GNVC Alert
.................
WATCH GNVC for the rest of the week....minute by minute.
Right now,is at a good pullback. at 1.75
BUT could slide to the 1.50 area for a better buy price.
between now and friday close.

See if you can count some waves intraday,shorter time frames. watch for whipsaws today into tomorrow.

1.50 looks ok to my eyes.
even 1.75 for a 1/2 position.
But today ,thursday.... isnt Friday yet. Hate to buy some at 1.78 and see it go to 1.38 tomorrow.
Needs more study.

Anonymous said...

GNVC
50 SMA is 1.34
50 EMA is 1.50

jerrynmn1 said...

Yes, So true-Tough is life.

Mike said...

should be interesting after 3pm today....

-Mike

Ubreako said...

any luck with doing a interview with the Private Equity guys that own NNVC ? some out look from them might be nice.

Anonymous said...

waiting for some news on nnvc

would be nice if they could throw us a bone

Anonymous said...

I want bones and MEAT ...

T said...

Thursday is done.
.......................
S+P did exactly what I anticipated.
Finished wave 4 sideways,and made a nice drop to the 1078 area.
including a nice tail spike .

Set up looks good now...for another drop friday to retest the bottom at 1078....

and IF IF IF it holds fast with a solid double bottom,double hammer bottom,key reversal,whatever you want to call it...if it happens, this would be a good technical set up for

a strong REVERSAL LONG.

and... (for what its worth) Timing is EXACTLY
THE FULL MOON.
Reversal Time.

This candlestick and wave structure and cycle timing couldnt be more textbook perfect if you ...."Engineered" it yourself.

Hmmm.... interesting word.

Watch every minute of the market friday ,if you can....

Remember The important word I said is ...."IF"

If it plays out like this.

Link McGinnis said...

I've purchased call options only one time but I like the possibility of buying AMZN calls. Does anyone have an idea on how to play this now that it has triggered a BUY?

Anonymous said...

don't worry about anything, just buy buy buy !!!

Anonymous said...

re: T said...

check out TLT & $IRX, which have both been acting out of character given the weakness in equity indices.

thumbnail charts

normally we would see TLT rally and $IRX fall under current equity conditions.

so, this adds something to what you say. But as you make clear, If!

Caveat: we are in a cycle wear expectations are being thwarted. E.g., good earnings are being sold upon. ... So, keep in mind that people have been condition to expect a Monday morning rally courtesy of the Operators. ... Perhaps if Bernanke gets back in the saddle, this will occur. Or maybe not.

Shubert's 'Unfinished Symphony'

"Between two evils, I always pick the one I never tried before."
~ c. 1936, Mae West.

t said...

Ah....'monday morning rally' is what they do...I didnt realize that. sounds like it might be setting up again for monday. since today,friday jan.29 ,so far(going on 2 pm EST) isnt reversing yet.
all day has felt like its just waiting and waiting in limbo.
But that was one of my points I made the other day...about jumping the market on friday because it may be impossible to get in at monday open if monday is a blast off.
Of course,I'd never advocate taking such a risk in this current market situation....certainly not on the basis of one timing indicator, even though its been very reliable,it cant always get the precise day....it operates withing a 3 or 4 day 'Zone'.
and monday is in the zone.even tuesday if the price point isnt reached until tuesday. But Friday,today...is the exact timing center.

If not at end of day friday....maybe Monday.

I'm not happy investing ,trading,and decision making on the strength of 'Maybes'.

I knew I shoulda taken profit in mid january but I chose not to. now I'm counting on the bounce to give me one last chance to close my longs.

and I should probably confess,I asked Allan back then,his thoughts and he said he only is holding onto NNVC.


He proved right. I was wrong.