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一个笨蛋的股指交易记录-------地狱级炒手

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 楼主| 发表于 2009-4-23 16:06 | 显示全部楼层
Friday, September 2nd



Thursday, September 1st



Investors pay $6,000.00 a year for this :
Note: I will be creating the fractal webinar this weekend for a online post  on
Saturday September 10th.

I will be adding RIMM to the stock fund as a short position ...







I'M TAKING PROFITS IN SIMG --- I PLAN ON BUYING AGAIN  WITH A DIP


SIMG now at 10.33 --- target is 12.00



Wednesday, August 32nd

Monday, August 29th

A note for new subscribers: It does take time to develop the skills to see the fractals unfold.
One needs to stop looking at the markets as linear lines and begin a new discovery.
Needless to say, many long term subscribers are doing extremely well with fractal identification and trading opportunities !









Using the fractal principles can offer investors a unique set of tools for entry and exit points.
With RIMM one has a clear map of what will follow in the next month.
One can short the stock at a "clearly defined" level at 81 with a STOP also at the same level.










SIMG


INSM





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 楼主| 发表于 2009-4-23 16:07 | 显示全部楼层
Friday, September 23rd

SIMG is up 4.56 % on its fractal trigger
I lowered the STOP for TASR ---- should produce a trigger soon
wow
A Perfect Iterated Fractal !



Thursday, September 22nd



10:47 am Update
Today I bought SIMG and TASR for the portfolio
Gold stocks are topping ..... would take profits on long positions.


TASR is up 4%

SIMG is basing

BCON does fall this morning


Wednesday, September 21st

I may buy SIMG (1,000 shares) for the portfolio tomorrow morning @ 9.00   !

Take a look a the fractal chart of SIMG and look at the bottom of 8-29 -the
drop today - based solely on the resignation of the CFO for "personal
reasons" - fits perfectly with the fractal.   Also if you look at the
relationship of the 8-22 bottom and today's bottom of @9.00  - there is a
very slight upward bias .  Again if it holds at the 9.00+/- then this could
be a quick point or so when all the weak hands are shaken out.  An
appropriate stop would be @8.75  just to make sure the big boys don't try to
stop a trader out at just below the recent low of 8.88.
Gary Lammert

14 September 2005

East Meets West - World Equities At the Top by Two Different - but Perfect -
Weekly Third Fractal Growth Paths


(Written 13 September 2005)

The weekly count for the third of three sequential major
growth fractals dating from 2003 for the Nikkei and Hong Kong indices
is 10/25/20. For the western US-Euro equities the weekly fractal
sequence of this final third fractal is 11/26-27/22. The two different
eastern and western equity indices weekly sequences conform to an
idealized x/2.5x/2x pattern and have reached their respective apogees
in very same week. While the Nikkei and some of the Euro-indices have
shown very characteristic exhaustion gaps within the past 3 trading
days matching the multi-yearly blow-off patterns of the high flying
NYSE and AMEX equities, the collective US Wilshire has not been able
to best its August 3, 2005 apex.

The underperformance of the premiere summation American Index, the
Wilshire 5000(TMWX), reflects the disproportionally negative
integrative burden on the US macroeconomy of its valuation fractal
determining elements - total quantitative personal, governmental, and
corporate debt, the latter of which has become much more expensive to
service under some behemoth's new junk bond status; unpayable private
pension funds soon to assumed by American taxpayers- of formerly
great, soon to be bankrupt, US corporations; expensive war cost which
have historically withered every prior major overextended world power,
record lack of US collective personal savings used as a base for
fractional lending, exhausted consumer discretionary spending running
up against near record energy costs; outsourced high paying jobs and
current wages not maintaining pace with inflation and debt servicing;
siren enticing and predatory unregulated lending practices leading to
asset consumption by a new group of extremely marginal buyers; rising
short term interest rates; the cresting of valuations of the US ATM -
equivalent asset, i.e., housing overvaluation; and recent massive
forward consumption of corporate profitless US automobiles akin to a
python eating its semiannual one time big pig bolus meal.

Relative to other leading world countries' above listed internal
economic parameters, the US and its protégée, the Wilshire, couldn't
exhaustion gap its way above its collective 3 August 2005 high. This
provides high probability information about the relative summation
strength of the US economy and its expected future asset valuation
activity in comparison to other world economic competitors.

From the Economic Fractalist archive on 28 July 2005:

Reverse Growth Fractal Top Patterns - Another Confirmational Indicator of
the Finale for the 147 year Second Great Fractal

'At major lower order valuations, top quantum units in individual equities
and commodities, many times complete classical inverse growth fractals. The
time units of the inverse top fractals can be in minutes, hours, or days
and usually are in a quantum sequence of either x/2.5x/2x or
x/2.5x/x,1.5x,1.6x,2.5x, the former being much more prevalent.'

A weekly reverse growth fractal of 15/37/30 weeks or x/2.5x/2x was identified
as a possibility on 28 July 2005. At the same time the possibility of a
x/2.5x/2.5x sequence was identified. This week, which ideally
completes a 15/37/37 week or ideal x/2.5x/2.5x inverse growth fractal
sequence, is in exact synchrony with the termination of a
11/26-27/ 22 of 22 averaged fractal weekly growth pattern.


Tuesday September 13 was day 26 of a 28 day ideal second fractal decay
pattern. Wednesday and Thursday, 14 and 15 September 2005 should
ideally be down days for the Wilshire ending the second decay fractal
of 28 days of a three sequence : 11/(28 of 28)/ 28 ideal daily decay fractal
pattern. An ideal next high for the third and final decay fractal would be on
day 104 of a 52/130/96(day 96 =Tuesday13 September) of a 104 day
sequence. The ideal final high of this nearly identical 1929 decay fractal
pattern would be on day 7 of a 11/28/(7 of 28 )day sequence. If the fractal
pattern identification is correct the last 28 days representing the third decay
fractal will be the major primary crash sequence equivalent to the final third
fractal of 27 days seen in the fall and Fall of 1929.

There are still lower probability possible decay fractal pathways
using a base with a range of 11-14 days. The extreme length would be
represented by a 14/35/22-35(1.6-2.5x the base)
decay fractal sequence with a maximum of a 14/35/35 day sequence. All
of bases include the 3 August 2005 Wilshire top. The second highest
probability daily base to the current high probability 11 day base
would be 13 days for a 13/33/21-33 daily decay sequence.

If the AMEX and NYSE characteristic exhaustion gap highs on
Friday 9 September remain unexceeded, a very ideal daily sequence
of 52/123/100 which when averaging, integrating, and reconfiguring the first
two fractal sequences of 52 and 123 days becomes 50 and 125 completing
an ideal 50/125/100 daily with a perfect x/2.5x/2x averaged configuration.
Gary Lammert
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 楼主| 发表于 2009-4-23 16:08 | 显示全部楼层
10:01 am update:  covered GM Short for a profit









Tuesday, September 20th

BCON up 8 % ... this may be a trigger for a buy

GM goes lower as expected -- down   .77 %
OI down 1.50 %
CCL down 1.50 %

SIMG hits F5 at 9.40 ... it has to hold here for a buy




Monday, September 19th

vphm
btui
hom
ford
fnx
bcon
gmxr
iehc
xwg
cmi
esv
rti
pwav
arrs
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Wednesday, September 14th 5:46

Tuesday, September 13th

[size=+1]I found the ALL recommendation within your archives.  Best I can tell the base fractal's f1-f6 is a 3:1 expansion in the first copy thus making the upside target ~$60 [$15 move from F6]..  I reentered AAPL calls at $48.00 on 9/7 and exited Friday [9/9] close for another big gainer.  Looking to reenter calls on any intraday pullback.

Thanks again,

Gerry

Monday, September 12th

MarketViews with Ike Iossif & Friends

Your recommendation in mid-August for long AAPL paid off today! Thanks.

Gerry[size=+1]
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 楼主| 发表于 2009-4-23 16:08 | 显示全部楼层
Monday October 3rd



Thursday, September 29th


Wednesday, September 28th
IOTN is up again 1.49 % this morning ...


Tuesday, September 27th

2:41 pm Update ..

SIMG may have bottomed here now

12:51 pm Update

IOTN still strong ..... keep stop .... for 15 +

SIMG is now at 9.05 .... will add 2,000 shares to the portfolio soon
I'm waiting for 8.80 or so




Within the chaotic orbits of the financial markets there are always
seeds of order. These seeds of order reveal the existence of windows of
stable and "predictable" periodic behavior.

Any region of chaos (stock chart) contains a Window of Order. It is the task of the
market fractalist to identify and isolate the window of order.

Fractals are the Patterns of Chaos.





Monday September 26th




2:56 pm
I plan on buying SIMG again ...
Overall markets are very weak , I would want to be in a cash position .
Gold stocks are good short candidates as the indices top here !
I will look at a few





  11:01 am

Selling TASR at 7.39
Selling SIMG at 9.46  




8:33 am

Gary Lammert

The Exquisite Daily Fractal Evolution since March 12, 2003.... and Recomputation of the Primary Decay Sequence.
The macroeconomic world appears to operate and, operateexquisitely, according to three saturation fractal growth phases,followed by a saturation fractal decay phase. The idealized time unitsthat compose the three growth phases and decay phase, as delineated inthe main page of the Economic Fractalist are x/2.5x/2x and 1.5xrespectively.
Because equity valuation fractals exactly represent the complexmoney-debt-asset system, the larger the equity index, the moreperfectly representative the index is of the underlying globalmacroeconomy. This is why the Wilshire 5000 , TMWX,  which representsthe near summation US equity position is useful  in fractal analysis.Even though other Euro-Asian equity markets have had betterperformance, it is the American economy represented by TMWX that hasdriven recent global economic growth.
Each day new valuation information is added and the consistent fractalpatterns and overall fractal puzzle gains greater clarity.Periodically review of the entire fractal evolution provides possiblenew insights. In this context a most remarkable balanced fractalpicture has come into focus. It is a fine extension of the priorestimate of future fractal evolution rather than a departure. The echohousing bubble created by the lured debtor of last resort, theAmerican consumer, has crested. This plateauing has been confirmed bysuch proxies as IYR and HGX and the greater TMWX index.  USoverconsumption, overvaluation, asset inflation,and servicing of debthave become predominant factors over ongoing new debt and moneycreation in the complex money system.
Since 12 March 2003, the beginning of the current major  three phasefractal growth period, the idealized fractal evolution has been simplyexquisite. In general, major growth fractal units of significantlength, e.g., weeks and months, are determined by low valuation pointsand the connecting underlying slope line which contain all intervalpoints. The below data for TMWX  can be easily confirmed by using BigCharts.
First growth fractal (x):  103 days  (12 Mar 2003 -6 August 2003)
Second  growth fractal (2.5x)  258 days  (6 August 2003 - 13 August2004)(note nonlinear dropon August 6, 2004 denoting the hallmark of a second fractal)
(The exact idealized  time frame is 103 x 2.5 = 257.5 days. Noticethat the closing low is actually lower on 12 August 2004 with anintraday lower low on 13 August for exactly 257.5 days-exactlymatching the idealized low).
The idealized expected third growth phase and  the idealized decaycycle would be:
Third growth cycle idealized (2x)         206 daysDecay cycle           idealized (1.5x)      154.5 days
Notice that the sum of the first and second growth cycle equals thesum of the third growth cycle and decay cycle:  103 + 257.5 = 206 +154.5 =  359.5 (The first and last day are double counted requiring asubtraction of 1)
Now look what has happened in the real fractal evolution of the thirdgrowth cycle starting 12 August or 13 August 2004. It has beencomposed of three subfractals:
First subfractal:  (y) 51-52 days 12/13 August - 25 October 2005
Second subfractal  (2.5y) 129-130 days 25 October 2005 - 29 April 2005(note nonlinear drop on  April  15,2005 denoting hallmark nonlineardevaluation of the second fractal)
Third subfractal  (2y)  103-104 days was ideally completed on Friday23 September 2005.
Remembering that the sum of the first two growth fractals equal thethe sum of the third growth  fractal and the decay fractal, the decayfractal should be equal to:
Expected Decay Fractal:  51.5 +129.5 minus 103.5 (-1 for doublecounting) = 77.5 days.
Notice the sum 51.5 + 129.5 + 103.5 + 77.5 (-3 days for doublecounting) = 359 days.
This most remarkably agrees with the above idealized expected thirdgrowth cycle and idealized decay cycle within half a day.Macroeconomically this might be explained by continued (excess)growth capacity to be had from ongoing debt creation and credit fromexisting asset valuation. The idealized third fractal incorporatedthis excess growth et, al. and  rearranged itself into a newintegrated sequence -  with exactly the same number of days to the endof the idealized cycle.
This total cycle equivalent day fractal rearrangement potentiallyprovides a much better solution for the final decay fractal sequence.Retrospectively, using this solution, the recent fractal valuationbehavior of the last 2-3 months becomes understandable and perfect inits evolution.
The base containing the 3 August 2005 Wilshire high starts on 18 July2005 and is 16 days in length - vice 14 days. The evolution is 4/8/6days. Rather than being the actual primary decay base, it appears tobe a bridging  intermediate base whose second fractal sequencecontains the actual base for the primary devolution.The expected lowof a second fractal with  base of 16 days is on day 40(2.5x).  Thislast Friday,  September 23, was day 34 of this 40 day sequence. Usinga 16 day base,  there should be 6 more days to a low.
Likewise including the TMWX secondary peak(in reference to March2000), 3 August 2005, is a potential  interlocking confirmatory basesequence starting on 29 July 2005. This base sequence is following theclassical x/2.5x/2x/1.5x and is 7/17/14/and 5(as of 23 September 2005)of 10-11 days. Noticed that the expected low occurs on the same 40thday(or one day earlier) of the 16/40  x/2.5x sequence as delineatedIn the preceding paragraph.
The potential real first decay fractal base is contained within thesetwo above interlocking fractal patterns and appears to be 3/7/2 (as ofSeptember 23) of 7-8. The primary decay base would consist of  15-16days starting on the lower high of 12 September 2005.
The idealized decay pattern would be either( for a total of 78 daysfrom the 103-104 daythird fractal third subfractal lower high):
15/37.5/37.5 x/2.5x/2.5x or16/40/32-33  y/2.5y/2y.
By this fractal reckoning the first decay base low will be reached in5-6 more days and the entire three phase fractal decay cycle will bereached in 77 more trading days. Considering the enormity ofimbalances, entitlements, and outstanding debt, this devolution couldpotentially represent  the 147 year nonlinear fall into the abyss. Thecollapsing financial picture will tax the American banking systemwith its inadequate fractional cash reserves in its ability to redeemdeposits of concerned savers.
This is not investment advice. It is a rather specific prospectivelyidentified potential pattern that can be tested.  Again as the dailyfractal valuations evolve, further prognostic refinements may beindicated.
However, the odds that the preceding identified  daily Wilshire'sfractals since March 2003, characterized by easily identifiablevaluation lows, are occurring by chance and randomness alone -resulting in exquisitely perfect quantum fractal patterns must, from astatistical point of view,  approach zero.  Based on this significantstatistical improbability, the macroecomony may very well operate viaits own predictable scientific fractal law.  Time will tell.


Fractal Setup :  Place a STOP at 9.25 for a Long Position ... target 15.00















vphm
btui
hom
ford
fnx
bcon
gmxr
iehc
xwg
cmi
esv
rti
pwav
arrs
asvi











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 楼主| 发表于 2009-4-23 16:10 | 显示全部楼层
Saturday April 18th 2009
2:30 pm EST

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Chart Eight
AAPL  Bearish




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 楼主| 发表于 2009-4-23 16:20 | 显示全部楼层
Wednesday, November 23rd

NOTE: I'll be interviewed this Friday by Ike Iossif from MarketViews.TV
Sunday 1:00 pm EST will be the broadcast time for the Fractal Webinar Part Two : What is a Fractal ?
The webinar and download for the presentation is free to Paid Subscribers.













Tuesday, November 22nd






Gary Lammert:
The Third Fractal Solution


Friday's Wilshire close above the 3 August 2005 integrated daily average
provided the impetus for yet a third fractal solution to the ongoing query
into the exact nature and evolution of the coming global macroeconomic
and equity valuation devolution. Exhaustion gaps to new multiyear highs
were witnessed in a number of the premiere world equity composite indices.
These gaps and new highs occurred in the context of evaporating cash
reserves in US mutual funds, record new European bankruptcy filings,
inflationary pressures on consumer wages, loss of white collar jobs at
US manufacturing plants, profit loss and lurking bankruptcy
possibilities for GM,
negative consumer savings rates, and a negative endorsement of US
governmental fiscal practices by the Comptroller of the United States.

Why then, with all these bad internals, did the Wilshire make a new high? The
answer is simply this: there is still a positive quantity of money
competing in the equity markets to complete, as of yet, an
indeterminate but paradoxically deterministic
and non complex ideal maximal growth fractal. While it is possible
that Friday was the maximal valuation day for the Wilshire with decay
patterns as described in previous postings, there is an an additional
possibility
that merits attention and involves 7 more trading days to a maximal
final saturation point.

This possibility requires a re look at the valuation activity in early
August 2004.

The fractal sequence dating from August 2004 has been repetitively quoted as
a 52/130/130 maximal growth sequence using a base of 52 days. A
reasonable alternative base is 56 days vice 52 days. The first day of
this 56 day sequence is the last day, day 68 which ended in a gapping
nonlinear lower decay fashion of a 28/69 (x/2.5x) internal sequence.
Day 68 and the 28/69 fractal sequence was interpolated in a slightly
larger 29/73 day fractal sequence that jointly composed the declining
second fractal sequence of 40/100/100 days. Day 100 of the third
fractal sequence of 40/100/100 was
the high in January 2005.

The interpolated fractal pattern might serve as a fractal clue that
interpolation of fractal patterns (patterns within patterns)might be
something to be anticipated in future growth evolutions. Just as the
28 day sequence with its 69 day low was contained in a slightly larger
29/72-73 day sequence with a 72-73 day low, the subsequent 52 day base
may be interpolated in a slightly larger but 'correct solution' base of 56
days which includes 4 days prior to the 52 day original base.

With a base of 56 days, the next anticipated low is day 140. On
exactly day 140, a nodal low was made on the Wilshire.

Using a base of 56 days originating in August 2004, the maximal
equity valuation growth sequence that conceivably might consume all
available in-the-market cash, before investment is shifted from
equities into debt instruments would be a fractal sequence of:

56/140/140 vice the interpolated 52/130/130.

Note that the nonlinear break defining the second fractal occurred on
day 120 or 15 April 2005 with nodal low days on both day 130 and day
140 supporting the concept of two simultaneously evolving interpolated
fractals.

In the proposed 56/140/140 daily maximal growth fractal series, the
Wilshire has completed day 133 of a maximal 140 day with 7 trading
days left to maximal completion, maximal growth, and terminal
saturation. A gap exhaustion key reversal day exactly on day 140
would serve as the ideal technical hallmark and support the deterministic
notion of market valuation evolution.

Interestingly Google likewise has the potential of a maximal fractalet
extending the maximal daily fractal series of currently 11/28/27 0f
28 days. In the last 28 day third fractal series a potential extension
sub fractal series of 6/15/8 of 15 with 7 more trading days to a final
top.

Likewise the Wilshire has an identified sub fractal series of 4+/11/4
of 11 days to a saturation point with 7 additional trading days to a
top.

The ideal low for this fractal pattern would come 56 trading days
after the 140 day top such that the length of sum of first two daily
growth fractals equaled the sum of the third growth fractal and the
final decay fractal 56 +140 = 140 + 56.


There is potential agreement and confirmation from a long term weekly
perspective where the sum of the length of the first two weekly growth
fractals are equal to the sum of the third weekly growth fractal and
the weekly decay fractal with a possible sequence of:

(6 +22) +54 =(12+30+ 28 of 30 third growth sequence) +12

or first weekly growth fractal = 27weeks
second weekly growth fractal = 54 weeks
third weekly growth fractal = 12/30/28 of 30 or 68 of 70 weeks
decay fractal = 12 weeks
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 楼主| 发表于 2009-4-23 16:21 | 显示全部楼层
Monday, November 21st




















Friday, November 18th

Monday will tell the tale .....






3:28 Update

The webinar will be offered next Sunday November 27th .. more details will be announced.
I'll be working on the webinar Part Two this weekend along with some chart updates.
Nothing new today ...... markets are still trending upwards ......
Gold shares are making a short term top .......... intermediate  /  longer term I am bullish on the XAU and HUI
That may be (gold) the safest place to go long at the moment .................













Thursday, November 17th
12:25 pm Update


DOW 30 has made a 5 bar bottom at 11:30 am


On a Intermediate basis ............... gold shares should continue higher ..............





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 楼主| 发表于 2009-4-23 16:22 | 显示全部楼层
Wednesday, November 16th

10653 to 10680 --------
that's 27 points in 30 minutes !




3:10 pm Update :
DOW 30 makes a 5 bar bottom for a base to rally








Potential Break Down at 1228 ......

if beyond e then another rally



XAU is up over 5% going to F3






Gary Lammert:

15  November 2005
Fractal Decay Solutions Near the End of a 147 Year Macroeconomic Cycle.

The repetitive growth and decay fractal evolutions of equity and debt
instrument valuations have an internal recurrent patterned nature that
occurs with a predictive probability that approaches if not equals that of a
hard science. These fractals are the result of a completely deterministic
saturation process which most efficiently and optimally distributes the
ongoing convertible money available for investment. The application of that
convertible investment money efficiently flows into the most optimal of
investment pathways resulting in directly analogous optimal and efficient
growth and decay integrative saturation patterns or fractals.

There are maximum limits to equity growth based on the real ongoing
macroeconomic dynamics of debt accumulation and consumption saturation,
which are in turn further balanced by the countervailing limitations of wage
growth, savings growth, and asset overvaluation. The timing for the maximal
growth limits and subsequent decay cycles can be predetermined based on the
inductive knowledge and non complex pattern recognition acquired by
empirical observational analysis and the repetitive and seemingly constant
evolutions of - three fractal growth cycles and one decay cycle - patterns
in an idealized order of x/2.5x/2x and 1.5x at smaller, intermediate, and
larger time units with the 1.5x decay pattern further fractalized into an
idealized y/2.5y/2.5y decay sequence.

The global macroeconomy is nearing the end of one of those colossal maximal
growth limits, a 147 year sequence composed of approximately two 74 years
sub fractals. These two chained sub fractals followed a 70 year fractal
ending in 1858. The valuation top of the second 74 year sub fractal occurred
in March of 2000. While equity markets of lesser economic nations have
exceeded their 2000 summit - the top European, top Asian, and American
composite equity indices remain substantially below their previous 2000
peak, despite historically unprecedented massive credit expansion and
unfathomable new debt obligation in the ensuing five years. The obligations
for servicing this massive new debt which has supported the growing and
unsustainable 6 percent US GDP 'unbalance of trade' disequilibrium and has
been created primarily by the US and other leading nations' real estate
markets - whose valuations have been artificially skyscrapered by both the
stimulatory post-tech-bubble-collapse, historically low, fed fund rates and
irrationally imprudent lending practices, ultimately rests on the shoulders
of American consumer, whose real wages are not keeping pace with inflation.
Just like the historically low cash reserves of US mutual funds, the null US
consumer's savings rate is telltale of the near end time limit of the
current 74 year sub cycle. Excess money available for US equity investment
is contracting and otherwise drying up consumed by debt servicing; essential
consumer inflationary spending for fuel, real estate taxes, secondary
education, food, health care, et. al.; and the very large alternative and
safer investment area: US debt instruments.

A look at the longer monthly fractals originating in October 1998 which
includes the March 2000 peak as part of both alternatively a first monthly
decay - and a first monthly declining maximal growth - fractal sequences,
provides possible predictive information regarding the final maximum
terminal growth and decay patterns ending the 148 year cycle.

A maximum decay pattern of 15/38/33 of 38 months is apparent with a sub
fractal decay sequence after the first 15 declining month base
fractal(as defined by
the underlying slope of the second fractal) of 11/28/22/12 of 17 for ideal
x/2.5x/2x/1.5x completed sequence.

A maximum growth pattern also starting in October 1998 can be identified as
having a 15/37/37 monthly pattern.


There are two high probability solutions to the final daily fractal
devolution that involve the terminal third fractal portion composing an
expected 38 months of a 15/38/33 of 38 decay sequence:

1. The first solution involves a continuation and the normal expected time
frame completion of an ideal fractal pattern x/2.5x/2x/1.5x dating from
August 2004. The daily sequence for this ideal fractal evolution is:

52/130/104/78 days

In this ideal fractal pattern, the Wilshire, as of the end of the 15
November trading day, has 41 more days to complete the ideal 78 day
time frame decay fractal progression. The last two fractals of 104 and 78
days have been integrated into an optimal terminal growth and decay
composite fractal pattern, which represents a series of lower high
daily saturation trading areas which ideally and ultimately will culminate
in a nonlinear ideal terminal decay pattern of y/2.5y/2.5y.

2. The second solution involves a gradual and progressive shortening of the
above ideal sequence, 52/130/104/78 which has been transformed into the
following truncated version of
approximately:

52/123/100-101/70-73 days

The reasons for this slight shortened and shortening version at the end of
the great 147 year second fractal could be attributed to an evaporating
money supply that is exiting the macroeconomic investment complex system
secondary to multiple developing conditions: looming pension defaults,
competing and more attractive long term debt instruments, cresting real
estate valuations, diversions of investment money into the low interest rate
associated inflationary cost of living essentials such as food, housing,
transportation, energy cost, real estate taxes, health care cost, secondary
education cost, et. al. Over the last ideal 52/130/104/78 day fractal time frame
investment money for equities has been contracting and otherwise 'drying up' as
evidenced by the historically low cash reserves in the mutual equity
fund industry.

In the second contracting and shortened solution, the Wilshire at the close
of trading on 15 November will have 23 to 24 more days to complete a 70-73
day shortened decay time sequence. In this last 70-73 day pattern, just as
for the first above ideal solution, there are saturation growth
periods with sequentially
lower highs before a final and terminal nonlinear daily decay sequence occurs,
which can be expected to be in a daily pattern of y/2.5y/2.5y.

Within the umbrella fractal time frames of both of above two solutions, two
fractal decay patterns have emerged, one whose base sequence of 19 days
contains the 3 August Wilshire high and the second whose 26 day base
includes both day 104 of the longer 52/130/104/78 day sequence and
additionally the lower high day 100 of the 52/123/100/71-75 shortened
sequence.

The two fractal decay patterns respectively are 19/47-48/24 of 47-48 with 24
more days to a primary low and 26/24 of 65/65 with a primary low expected
day 65 of the second fractal with 41 more trading day to a primary low.
Notice that these two daily solutions match the expected lows of the shorter
52/123/100/71-75 and the longer ideal 52/130/104/78 day fractal sequences
respectively. The 26/24 of 65/65 day decay sequence is particularly
appealing because it matches the expected monthly low of the greater
umbrella decay fractal of 15/38/33 of 38 months. Likewise a possible
11/28/28 day sequence composing this second 65 day fractal is possible.
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 楼主| 发表于 2009-4-23 16:22 | 显示全部楼层
Tuesday, November 15th
2:43 pm Update


Needless to say what a trader can do in the futures or commodity /forex  markets with
the  fractal principles ....

A Perfect Bar Top !





SPX Down 5 points !  wow


2:10 pm update

Watch OUT !
Fractal Top






1:46 PM UPDATE
WOW !
:-)

OEX REVERSAL ON THE BUTTON !
SPX Reversal ......................




Picture Perfect !




1:19 am Update
this may be a better trade :





THE AMAZING NASDAQ FRACTAL EXPANSION IS SET FOR NEW HIGHS !
Long Term Subscribers have seen this fractal unfold during the last 24 months.




11:47 AM UPDATE

ODDS ARE STILL FAVORING A PULLBACK FIRST
LOOK CLOSELY  AT f2 : f3 and "Scale" the fractal to f4 : f5





This looks low risk for a day trade today ...





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 楼主| 发表于 2009-4-23 16:23 | 显示全部楼层
10:10 am Update
Hank,

Although we made a 5 bar bottom on the 30 minute yesterday afternoon,
if we top in the 1234.87 area in the first 30 minutes today we will
also have a 5 bar top, so it looks like we could have back to back
bottom/top formations.  Very interesting.



FRACTAL CYCLES AND BARS ARE SUGGESTING A TOP FOR THE S&P
NOTICE HOW EXACT THE FRACTAL CYCLE IS FOR THE TOPS AND BOTTOMS !




Monday, November 14th

3:52 pm Update Alert

30 minute bar bottom on the SPX/OEX



Gary Lammert:

Goodbye General Motors

The current best decay solution to a primary low is 19/17-48/21-22 of 47-48. This leaves only 26 trading days left to a final primary low. The recent equity rally is so very right from both a contrary sentiment perspective and terminal monet flow perspective. There are very few to any of the tradtional pessimists left contemplating such a near term drop. This psychology dynamic, even among the most pessimistic economic realists, is as it exactly should be at this point in the second 147 year Grand Fractal. All eyes and linear thought are focused on possible valuation growth targets for the traditional December rally. Recent multimonthly partial liquidation of bond mutual funds has provided the final money fuel along with the last few dollars left in the historically low cash reserved equity mutual fund industry to cause today yet another minutely exhaustion gap to a multiweekly high, lower than the 3 August 2005 Wilshire Maginot Line valuation high.

The current best solution for the final subfractal containing the 26 days is 3 of 5/13/13. For the long term debt instruments the dominant subfractal count if 15/35 of 37-38 meaning that the next two-three trading days should, just as today, have an influx of money driving TNX and TYX lower consistent with lower interest rates. Today, the smart money which was made by selling equities, near their top price secondary to 3 August 2005, was invested in long term debt instruments driving interest rates lower. The Wilshire is softly whispering: beware of the technical implications of minutely exhaustion gaps to lower highs involving me for I am the near sum of US equity valuation activity.

GM, which soon will likely follow the way of Delta, United, Northwestern, MG Rover, and Delphi collapsed to a 13 year low two trading days ago. Because GM's pension solvency is coupled to its stock market valuation and the overall equity market is in a 6 week (using the best current solution) to 9-10 week(using a secondary solution) decay process, GM will likely face bankruptcy, changing the face of US corporate smokestack and labor union economic dynamics. These dynamics have provided 75 years of substantive US manufacturing might and real American made goods to the world markets. They have provided real living wages for blue collar workers. How will these displaced blue collar workers send their children to college, pay health care bills, and pay inflated real estate taxes. Who will be able to afford the entry level homes that have been and are being built?

The over investment, overproduction, over consumption, and saturation point of the 2000 tech market has been replaced by like elements constituting the housing bubble. This crested catastrophe has been fueled by far more powerful easy lending practices and transient lower interest rates than the ten percent marginal buying practices and nadir fed fund rates of the late 1920's.

Saturation macroeconomics at the American consumer level will determine the course of valuation trading for the next 8-12 months. The degree of positive sentiment that exists in the market today will be replaced by its antipodal like image at the end of decay process.


THERE ARE 2 ITERATIONS COMPLETE ON THE BOTTOM CHART




1:40 pm ......
A ceiling here




12:57 PM
So far a quiet day

10:30 am Update

Markets are testing their highs today ........ nothing clear yet
Could be a little profit taking ....

NO setup yet today ...... on the sidelines ..

On the 60 day SPX chart , there is a slight chance of a third iteration that could develop.
There may be a sell off ...............  though at this point there is no confirmation YET
I would want to be a bit defensive today


F2 was set on last Friday on the below chart .............. creating the boom into 111 !



F2 appeared sooner for the trigger ...... ......... but it still projected the rally




Gary Lammert: 52/130/130 Maximum Daily Growth Fractal Completed.


Like a plane that has gone off the radar screen, the venerable Atlanta
based superairliner Delta Airlines, formerly DAL, no longer has a
valuation tracing on Big Charts. Delta, Northwestern, GM, Delphi, and
Ford all share the commonality that, unlike the badly run corporate-like entity
known as the United States, they cannot directly tax present day and future day
citizens to maintain the current questionable promise of their substantial
outstanding debt instruments. These private organizations must depend on bottom
line profitability in a disequilibric competitive global economy to
maintain the promise of their debt instruments, their pensions, their health
care benefits, and ultimately their economic viability. The nonlinear reality
of bankruptcy or imminent bankruptcy and the imminent death
of these formerly world class and solid companies serve as canaries in
the coal mine for America's future global economic viability.

The nonlinear mechanistic imminent fractal decay of equities and asset
valuations is, with great probability, at hand. 31 October 2005
completed or nearly completed a maximum growth fractal sequence of
x/2.5x/2.5x or 52/129-130/129-130 days dating from August
2004. A lower high exhaustion gap so technically characteristic of
dying markets making their lower highs occurred on 31 October for the
NASDAQ. Before falling back at the close the Wilshire TMWX, likewise,
showed minutely exhaustion gaps to lower highs in the last hour of
trading.


The final decay daily fractal equity sequence will likely either be a
6/15/15 or a 7/17/17 sequence, the former starting 3 days ago and the
latter starting 4 days ago. (The other possibility is a splitting of
the difference with a 6 plus/16/16 decay sequence as alluded to in the
previous EF posting).

One other less likely, although nostalgic solution, is an exact
replay of the 1929 11/27/27 decay fractal sequence. The count on this
possible sequence is: 11/19 of 27/27. This has some appeal because
maximum growth in the second decay fractal would be a fib ratio of the
base, i.e., 1.62 x11 = 18-19 days.

All of these fractal decay solutions end in 31 to 35 more trading days
for completion of the primary decay fractal.

A corroborative litmus test in the next few days for the coming equity
devolution could be an expected decline in TNX and TYX, the ten year
note and 30 year bond respectively, even as the fed fund rate is
raised (albeit, very temporarily) to 4 percent. Exiting money from
equities, will flow into the debt market, lowering interest rates.
Likewise, three month treasuries IRX 'struggling' to match the 4
percent fed fund rate because of the money exiting from equities will
also provide early evidence that the devolution is in its beginning
stages.

Just like the formation of galaxies and hurricanes and nautilus
shells, the universe of the macroeconomy operates through non stochastic fractal
growth progression and nonlinear decay. Expect the unexpected









Copyright © 2003 - 2004  All rights reserved.
All content, graphics and publications on this site are protected by U.S. copyright and international treaties and may not be copied without the written express permission of Trading Amazing Elliott Wave Fractals, which reserves all rights. Re-distribution of any of TAEWF's content and graphics for any purpose is strictly prohibited. The materials from the TAEWF's site are available for informational uses only, provided the content and/or graphics are not modified in any way, all copyright and other notices on any copy are retained, and written permission is granted by TAEWF..
As financial markets are subject to many influences and fluctuate due to many factors, no guarantees are made as to the accuracy of the information presented or distributed.  The operator of this site is not responsible for the manner in which the information is used by subscribers or readers.

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 楼主| 发表于 2009-4-23 16:24 | 显示全部楼层
MARKETVIEWS INTERVIEW ARCHIVE

Henry Wernicki, Chief Editor and Publisher, Trading Amazing Elliott Wave Fractals

For more research/analysis by Henry Wernicki, and  contact information, please visit: http://www.elliottfractals.com  or, email:
support@elliottfractals.com
11-27-05
  • 7:00 PM PST     Next: To be announced
  • Henry Wernicki, expects an explosive move in gold.
Please click on the link to see the charts:
Neutral LISTEN
10-23-05
  • 7:00 PM PST     Next: To be announced
  • Henry Wernicki, talks about FNM, HUI, XAU, and the SPX.
Neutral LISTEN
9-10-05
  • 7:00 PM PST     Next: 10-11-05
  • Henry Wernicki remains on balance bullish.
Bullish LISTEN
8-14-05
  • 2:00 PM PST,  Next: 9-13-05
  • Henry Wernicki    talks about the increasing "non-linearity" nature of the financial markets, and the reasons why traditional technical analysis can no longer identify important turning points.
Neutral LISTEN

7-18-05
  • 2:00 PM PST,  Next: 8-13-05
  • Henry Wernicki    is bullish, and talks about Elliot Wave Fractals
Neutral LISTEN
6-13-05
  • 2:00 PM PST,  Next: 6-13-05
  • Henry Wernicki    is bullish, and talks about Elliot Wave Fractals
Bullish LISTEN
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 楼主| 发表于 2009-4-23 16:26 | 显示全部楼层








Copyright © 2003 - 2004  All rights reserved.
All content, graphics and publications on this site are protected by U.S. copyright and international treaties and may not be copied without the written express permission of Trading Amazing Elliott Wave Fractals, which reserves all rights. Re-distribution of any of TAEWF's content and graphics for any purpose is strictly prohibited. The materials from the TAEWF's site are available for informational uses only, provided the content and/or graphics are not modified in any way, all copyright and other notices on any copy are retained, and written permission is granted by TAEWF..
As financial markets are subject to many influences and fluctuate due to many factors, no guarantees are made as to the accuracy of the information presented or distributed.  The operator of this site is not responsible for the manner in which the information is used by subscribers or readers.
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 楼主| 发表于 2009-4-23 16:28 | 显示全部楼层
MARKETVIEWS.TVInterview with Ike Iossif
By Alex Pappas
10/19/2007 10:00 AM PST
Q: Every February you publish an in-depth  research  paper for gold/gold stocks   featuring   a) technical/fundamental  analysis, b) specific probability scenarios for  price pattern/directional movement/price targets -as calculated by your proprietary models,  c) the appropriate  trading strategies for each suggested outcome, and how they will  be implemented  in your managed  accounts. (see reports for 2005-2006, and 2007-2008) The purpose of this interview is to review the 2007-2008 report, would you like to tell us where you stand at the present time?
A: Of course, the  2007-2008 report  was published  on 2-16-07, it listed  three  outcomes for the next twelve months -two bullish, and one bearish, and  it was going to take until  June to determine with some degree of certainty which one of the three outcomes -if any-  was playing out. By  mid-May I advised that the evidence -up to that point in time- was strongly suggesting  that  Scenario#1 was going to unfold, and thus, going forward  -unless new data suggested otherwise-   S#1 would become the "working assumption"  when deciding  trading  strategy for gold/gold stocks in our managed accounts. (see chart below, which is the forecast shown on the report, or, read 2007-2008 report)

To determine if a particular scenario is "in play" we continuously  examine whether its three main forecasted attributes  -pattern/magnitude/duration-  match the actual ones.
In terms of "duration"   the S#1 had forecasted a low in June, higher prices between mid-June and early-August, a top in early-August, lower prices between early August and early September, a low in early September, sharply higher prices from early September until late October, a top in late October, lower prices between late October and mid-November, a low in mid-November, and a vertical  move from mid-November until February of 2008. (see the small arrows on the right lower corner of the chart)   

In terms of "pattern"  the S#1  had forecasted  an A-B-C-D-E-F   type, in which each  successive high, is higher  than the previous one, and also, each successive low, is higher than the previous one. (see thick blue line and red capital letters marking  highs/lows in the chart below.

In terms of "magnitude" the S#1 had forecasted  the lowest low to be at 115 (+/-5 pts)   at point "A" then  a high at point "B" at 135 (+/-5 pts), a low at point "C" at 127 (+/-5 pts), a high at point "D" at 175 (+/-5 pts), a low at point "E" at 160 (+/-5pts), and a high at 210 (+/-5 pts)
TRADING STRATEGY BASED ON FORECAST BY S#1
The  forecasted pattern  by the  S#1   -because of its successive higher lows- creates  three  natural low/risk entries at points "A" "C" and "E" Therefore, our  plan was to commit about 40%-50% of our capital at point "A"  and then add another 25%-30% at points "C" and "E" which would have given us a fully invested position.
..............................................................................................................
ACTUAL PRICE ACTION
By mid-June   the actual price action appeared not only  to be unfolding  as it was forecasted by the S#1, but also it was doing it in a more bullish manner. The S#1 had estimated the June low to come at 115, it actually came  20 points higher at 135. The XAU rallied into July as expected, and to our pleasant surprise,   the actual  July high came also 20 points  above the forecasted one. At that point, we had another  confirmation that  the  "pattern" and the "duration" of the actual move  were playing out as forecasted by the S#1, while the  lows/highs  were 20 points higher than forecasted, signifying  "strength."   

At that point -as we indicated in our  emails to our clients-   we were looking  for  a pullback to  point "C" in early August  to add on to our positions, as per the scenario that  had been unfolding. However,  in early August all the markets  tumbled  sharply because of concerns about  sub-prime defaults. The XAU instead of making a higher low, it made a lower low,  violating the "higher highs/higher lows"  attribute of the forecast, which in turn, negated the validity of the forecast, until such time that new data  re- confirmed it.  At that time, there was no way of telling whether the August lows signified an "aberration" and the  previous bullish pattern  pattern would  re-emerge, or, the XAU  had  entered a   bearish phase.  


So far it appears that   the  action in August may had been an aberration caused by an exogenous event, because   the XAU has rallied  back up to point "D" at 175, and it has done it by mid-October -matching the forecast by the S#1. If that is the case, then the XAU  will  turn down shortly, and it will test support    point "E" at 160 (-/+ 5 points) A downside reversal at point "D" followed by an upside reversal at point "E" will provide us with confirmation that indeed  S#1  is still valid, and point "E" constitutes a  low risk entry.  


If S#1 is still valid, and presently unfolding, it means that the XAU will rally from 160 (-/+ 5 pts) to 230 (-/+ 5 pts) for a gain of roughly  70 pts. However, we will not have confirmation until the XAU pulls back from current levels to approximately 160 (-/+ 5 pts) and then it reverses to the upside.
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 楼主| 发表于 2009-4-23 16:29 | 显示全部楼层
MARKETVIEWS.TVInterview with Ike Iossif
By "Zapata"  George
09/15/2007 10:00 AM PST
Q: On 8-3-07 -based upon the price pattern of the SP500 over the previous 4 weeks- you  identified several  price scenarios which -in your view- had the highest probability of unfolding over the following 4-6 weeks. On 8-31-07  (see DP report) you narrowed them down to just two, where are we now?




A: So far, the actual price pattern has been almost identical with  the  suggested one. On 8-31-07 the SP was at point "1" since then, it declined  to point "2" and then rallied back up to point "3" -as  expected. Notice that point "3" is a critical one, because according to our scenarios, that is the point from which the SP will either decline, or, rally further by another 80-100 points. I want to emphasize that just because so far the price pattern has unfolded according to our scenarios, it doesn't  necessarily mean that it will continue to do so, but the  odds at this point, are better than even in favor of completion. In order for point "3" to become a "launching pad" for an 80-100 point move in the SP, the market will need a "catalyst." Coincidentally, next week, not only the FED is expected to lower rates, but also,  Goldman Sachs, Bear Sterns, and Lehman, will report 3Q earnings, thus,  the chances are pretty good that the market will get the   "catalyst"  that it needs  to spark an 80-100 point move in the SP over the next 10-20 trading days.
Q: Are you positioned -in advance- in preference of either the bearish, or, the bullish resolution?
A: I have no major positions  in anticipation of  either outcome. Our managed accounts are either  90%-95% in cash (if they were open prior to 2-1-07) or, they are 50% invested in fully hedged positions   (if they were open after 2-1-07) thus, our net exposure to the market is  minimal. Given the current elevated level of market risk, I believe the right thing to do, is to wait for the price action to confirm either the bearish, or, the bullish outcome, before making a major net commitment to the market,  even if it means missing out on  the first 20-30 points  of the move. As you  know,  patience is one of the most important, and necessary  virtues for long-term survival  in our business!  
Q: Do you have an opinion with regards to the final outcome?
A: Yes, I do, and I will discuss it in detail, but since you mentioned it, if I may, I would like to take the opportunity to point something out for the benefit of those listeners  who are managing their investments on their own. The key metric to consider before taking a position, is not the probability of being wrong, versus, being right -as many people think. It is the expected R.O.R adjusted for different market conditions.
Q; Can you elaborate on this?
A: Of course. To make things  simple, we'll assume  the following: an investor has a total risk capital of $10k, the dollar amount committed to each trade is always the same, and  he/she employs a trading system which has proven to have a 60%  probability of success under any  market condition ( conversely, the probability of failure is 40%) Now, we'll use the data I just gave you to  calculate  the expected ROR for the same market, but for two different time periods, taking into account the prevailing market conditions in each time period. Keep in mind that  for both time periods, the probability of success is the  same (60%) however during period A, the expected loss is 10%, and during period B the expected loss is 25%, while  the expected gain remains the same at 10%. Interestingly, although the probability of success is the same, for both time periods, the expected R.O.R. is not.
Expected R.O.R per trade for period A:
(60%*10%)-(40%*10%)= 6.0%-4.0%=2.0%,
Expected R.O.R. per trade for period B:
(60%*10%)-(40%*25%)=6.0%-10.0%=-4.0%.
So, my point is this:  Even if one's "opinion" is  correct most of the time, the actual returns from trading  on that "opinion" will vary from time to time due to differences in  the "market climate." Investors need to identify those times when -although  the  ratio between  winning trades and losing trades matches the historic one- the market climate is such, that results in negative returns, anyway. To put it simply,  even if three  out of every four   trades are winners, one can still end up losing money, if the loss from the one losing trade exceeds the gains from the three winning  trades. Consider the following: in the last 45 days the SP has had a net gain of 2 points, but,  intra-day it has traveled -on an absolute basis- approximately 500 points (see chart below) Moreover, it has rallied, or, declined in excess of 1% during the  last 60 minutes of trading, approximately 1/3 of the time, only to gap in the opposite direction the next morning!
In summary,  this is not the type of market that inspires "heroics" this is the type of market that requires patience. Market participants should look for a pattern they know  how to trade, and then wait for confirmation before taking any positions, so they don't get whipsawed. In addition, investors/traders must be willing to recognize that although they may possess a  high level of experience, skills, knowledge, etc., the market is bigger than all of us, and if  it turns  against us, not only we'll lose, but also, we'll lose more than what we had expected. You and I -and everyone else I know in the business- have had our share of such unpleasant experiences! It would be a lie if I proclaimed that I have been able to  recognize every single one of those times when the market appeared to be doing one thing, when in reality it was doing something else. Most of the times I caught it, a few times I didn't, and it cost me dearly.  Market participants need  to recognize that we are experiencing  one of those times, during which  risk metrics -even the very sophisticated ones- may not be able to capture the actual level of market risk.
Q: Ok, now please tell me your  opinion on the market.  
A: The SP has rallied 110 points from its August low, partly in reaction to the FED's initial handling of the "crisis" and partly from faith that "more help is on the way." The 110 point rally has discounted -in my view- a cut by 25 basis points, for the market to move further, something more is needed. Therefore, if the FED just lowers the federal funds rate by 25 basis points, and  doesn't make it clear in its statement that more will follow, then  I believe the SP will sell-off, and it will re-visit the 1420-1400 support zone. If it holds, then I would expect another rally towards 1490-1510. If the 1420-1400 support zone doesn't hold, the next support is at  1370-1360, and below that, we got the  1325-1315 zone.  
On the other hand, if the FED goes out of its way to accommodate the market, and none of the 3 big brokerage firms reporting 3Q earnings next week reports anything that catches the market by surprise, then the bulls will  have an excuse to push the SP towards the 1510 resistance level. If the SP rallies to 1510 from current levels, then it will be overbought enough to warrant a pullback to 1490-1480, which ought to be followed by another rally towards 1510-1525.
Q; What are the odds for either of the above happening?
A: Notice that over the past 5 trading days inflows and outflows have been at equilibrium, suggesting that for next week, the odds are even for liquidity to turn either positive, or, negative which means, over the short-term, the odds  between lower and higher prices are almost even, and thus, investors ought to be equally prepared for either outcome.
Q: In your view, what are the odds  that the SP has entered a bear market?
A: As you know I use a different set of MAVGs -other than the 50, 200 DMAs- to determine that. To conclude that the SP has entered a bear market, liquidity will have to turn negative, accompanied by a decline in price   down to  the 1350-1340 zone, followed by a rally that will fail in the 1370-1380 zone. As you can see, none  of these three conditions has been met, as of yet. Therefore, at the present time, the odds  still favor continuation of the bull market.
Lets take a look at one more  chart for the SP. The chart below shows the ratio of two different moving averages of daily lows, and daily highs. Notice how a negative divergence is followed by a sharp decline in price. In bull markets the indicator stays flat for about 8-10 weeks, then it turns up and quickly shoots up to the 50-60 level. At the moment, the indicator appears to be acting as if the bull market is still on. (see arrows on the bottom of the chart)  

Q; How about gold stocks?
A: So far, we have had a very sharp rally, bur no firm confirmation, yet, that a new multi-month rally has indeed started. Take a look at the chart below. First of all, notice that if indeed the rally of the last 4 weeks represents the start of an intermediate-term advance within the context of a secular bull market, then, this is only the first leg of the advance, and after a pullback to the  DMA,  another one, or, two legs should follow. Notice that in the previous three intermediate advances, the XAU rallied from the bottom on average 25%-33% non-stop, then it pulled back to the  DMA, and then it resumed its advance. During intermediate term advances, pullbacks to the  DMA, represent LOW-RISK ENTRY POINTS, we haven't had that, yet. As of Friday's close the XAU has rallied 33% from its August bottom, consequently, it should be pretty close to a pullback, if price finds support  at the DMA (green line, see arrows) and it reverses to the upside, then we will have confirmation  that an intermediate term advance   is under way.
At the moment because of the 33% advance, and because of the negative divergences shown in the 3 charts below, I believe that the upside potential is at most 10 points. If the advance is for real, then sometime over the next 5-15 trading days we should get a pullback with a magnitude of 7%-10%, followed by another leg to the upside of roughly equal magnitude (30%-35%) Those who are bullish on gold/gold stocks but  looking for a low-risk entry   need to remain patient for another 5-15 trading days. If an intermediate-term advance is indeed underway, a low-risk entry point should be no more than 5-15 trading days away.  
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 楼主| 发表于 2009-4-23 16:34 | 显示全部楼层
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INDICATORS  PART#1
Page 1,  
(source:stockcharts.com)
What is an Indicator?An indicator is a series of data points that are derived by applying a formula to the price data of a security. Price data includes any combination of the open, high, low or close over a period of time. Some indicators may use only the closing prices, while others incorporate volume and open interest into their formulas. The price data is entered into the formula and a data point is produced.
For example, the average of 3 closing prices is one data point ((41+43+43)/3=42.33). However, one data point does not offer much information and does not an indicator make. A series of data points over a period of time is required to create valid reference points to enable analysis. By creating a time series of data points, a comparison can be made between present and past levels. For analysis purposes, indicators are usually shown in a graphical form above or below a security’s price chart. Once shown in graphical form, an indicator can then be compared with the corresponding price chart of the security. Sometimes indicators are plotted on top of the price plot for a more direct comparison.
What does an Indicator Offer?An indicator offers a different perspective from which to analyze the price action. Some, such as moving averages, are derived from simple formulas and the mechanics are relatively easy to understand. Others, such as Stochastics, have complex formulas and require more study to fully understand and appreciate. Regardless of the complexity of the formula, indicators can provide unique perspective on the strength and direction of the underlying price action.
A simple moving average is an indicator that calculates the average price of a security over a specified number of periods. If a security is exceptionally volatile, then a moving average will help to smooth the data. A moving average filters out random noise and offers a smoother perspective of the price action. Veritas (VRTS) displays a lot of volatility and an analyst may have difficulty discerning a trend. By applying a 10-day simple moving average to the price action, random fluctuations are smoothed to make it easier to identify a trend.

Page 2
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Indicators serve three broad functions:

1. Alert.
An indicator can act as an alert to study price action a little more closely. If momentum is waning, it may be a signal to watch for a break of support. Or, if there is a large positive divergence building, it may serve as an alert to watch for a resistance breakout.
2. Confirm
Indicators can be used to confirm other technical analysis tools. If there is a breakout on the price chart, a corresponding moving average crossover could serve to confirm the breakout. Or, if a stock breaks support, a corresponding low in the On-Balance-Volume (OBV) could serve to confirm the weakness.
3. Predict
Some investors and traders use indicators to predict the direction of future prices. (Here at AegeanCapital we believe that the above generally holds true for indicators that are proprietary. We have yet to see an indicator that is freely available, and yet it has great predicting value. However, some notable exceptions do exist)


Page 3
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Keep in mind, ALL indicators are derivatives and not direct reflections of the price action. This should be taken into consideration when applying analysis. Any analysis of an indicator should be taken with the price action in mind. What is the indicator saying about the price action of a security? Is the price action getting stronger? Weaker?
Even though it may be obvious when indicators generate buy and sell signals, the signals should be taken in context with other technical analysis tools. An indicator may flash a buy signal, but if the chart pattern shows a descending triangle with a series of declining peaks, it may be a false signal.
On the Inktomi (INKT) chart, MACD MACD improved from April to August and formed a positive divergence in August. All the earmarks of a MACD buying opportunity were present, but the stock failed to break above the resistance and exceed its previous reaction high. This non-confirmation from the stock should have served as a warning sign against a long position. For the record, a sell signal occurred when the stock broke support from the descending triangle in early Oct-00 .

Page 4
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POINTS TO REMEMBER:
As always in technical analysis, learning how to read indicators is more of an art than a science. The same indicator may exhibit different behavioral patterns when applied to different stocks. Indicators that work well for IBM might not work the same for Delta Airlines. Through careful study and analysis, expertise with the various indicators will develop over time. As this expertise develops, certain nuances as well as favorite setups will become clear.
There are hundreds of indicators in use today, with new indicators being created every week. Technical analysis software programs come with dozens of indicators built in, and even allow users to create their own. Given the amount of hype that is associated with indicators, choosing an indicator to follow can be a daunting task. Even with the introduction of hundreds of new indicators, only a select few really offer a different perspective and are worthy of attention. Strangely enough, the indicators that usually merit the most attention are those that have been around the longest time and have stood the test of time.
When choosing an indicator to use for analysis, choose carefully and moderately. Attempts to cover more than five indicators are usually futile. It is best to focus on two or three indicators and learn their intricacies inside and out. Try to choose indicators that complement each other, instead of those that move in unison and generate the same signals. For example, it would be redundant to use two indicators that are good for showing overbought and oversold levels, such as Stochastics and RSI. Both of these indicators measure momentum and both have overbought/oversold levels.

Page 5
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TWO DIFFERENT TYPES OF INDICATORS:
1. LEADING
As their name implies, leading indicators are designed to lead price movements. Most represent a form of price momentum over a fixed look-back period, which is the number of periods used to calculate the indicator. For example, a 20-day Stochastic Oscillator would use the past 20 days of price action (about a month) in its calculation. All prior price action would be ignored. Some of the more popular leading indicators include Commodity Channel Index (CCI) , Momentum Relative Strength Index (RSI) , Stochastic Oscillator and Williams %R.
2. LAGGING INDICATORS
As their name implies, lagging indicators follow the price action and are commonly referred to as trend-following indicators. Rarely, if ever, will these indicators lead the price of a security. Trend-following indicators work best when markets or securities develop strong trends. They are designed to get traders in and keep them in as long as the trend is intact. As such, these indicators are not effective in trading or sideways markets. If used in trading markets, trend-following indicators will likely lead to many false signals and whipsaws. Typical  trend-following indicators include moving averages(exponential, simple, weighted, variable) and MACD
(source:stockcharts.com)
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 楼主| 发表于 2009-4-23 16:35 | 显示全部楼层
AEGEAN CAPITAL GROUP  INC.
All Rights Reserved. Aegean Capital Group Inc./Marketviews.tv
HOME AEGEAN CAPITAL HOME MARKETVIEWS.TV
   
     
INDICATORS  PART#2
(source:stockcharts.com/Arthur Hill)
In Part 2 of our tutorial on indicators we will cover "Leading" and "Lagging" Indicators.
Leading Indicators :
As their name implies, leading indicators are designed to precede price movements. Most represent a form of rate of change in price momentum over a fixed look-back period, which is the number of periods used to calculate the indicator. For example, a 14-day RSI  would use the past 14 days of price action (about three weeks) in its calculation. All prior price action would be ignored. Some of the more popular leading indicators include Commodity Channel Index (CCI), Momentum, Relative Strength Index (RSI), Stochastic Oscillator and Williams %R.


What Do Most Leading Indicators Measure?
Keep in mind that most  Leading Indicators   are actually some type of a  Momentum Oscillator. Consequently, they tend to measure the rate at which the price of the security is moving. The bigger the move the bigger the rate of change and vice versa. Things tend to become confusing when a security trades  within a  narrow flat range. Usually when that happens, "momentum" will begin to decline, reflecting the sideways movement. This action does not necessarily mean that the move has been exhausted and the current trend will change.

Two KEY things by which "leading" indicators forewarn about the upcoming move:
1. Little price movement, yet a noticeable change in the indicator.
2. A divergence between price movement and the indicator.
Take a good look at the chart below. As you can see during the "consolidation" phase we had no actual decline in price, yet the RSI fell from 80+ to nearly 60 (a noticeable change) That is a Bullish sign! However, during the "Exhaustion" phase we had a negative divergence. Price moved higher, but the RSI moved lower, meaning the up-move was coming to its final conclusion.

(source:stockcharts.com/Arthur Hill)
Conclusion: When using leading indicators you do not pay that much attention to their absolute value. An RSI reading of +90 it does not mean that the up-move is exhausted, conversely, an RSI reading of -90 it does not mean the down move is exhausted. What you are looking for is positive or negative DIVERGENCES between price action and the indicator. Furthermore, indicators are not infallible, thus you do not open a position until price actually moves as expected.

When do "Leading Indicators" work the best?

Leading Indicators work the best in "trading markets" only in tandem with the primary trend in place, not against it. In a market trending up, the best use is to help identify oversold conditions for buying opportunities. In a market that is trending down, leading indicators can help identify overbought situations for selling opportunities. Many people lost money buying into NASDAQ during the decline from September 2000 to April 2001, because  they falsely used leading indicators to identify "oversold" points! In a market that is trending down you use these indicators to identify "overbought" points to go short!
Trending Up>Oversold Condition>Buying Opportunity
Trending Down>Overbought Condition>Selling Short Opportunity
Lagging Indicators:  

As their name implies, lagging indicators follow the price action and are commonly referred to as trend-following indicators. These kind of indicators confirm that the current trend is still intact, but they provide no clue whether it is about to change or not. Consequently, Trend-following indicators work best when markets or securities are in  strong trends. The most commonly used lagging indicators are based on moving averages. It should be noted that these indicators are highly inaccurate when used in "trading markets" In all likelihood they will result in a series of losses if they are used to generate entry/exit signals.

(source:stockcharts.com/Arthur Hill)
The chart above shows the S&P 500 with the 20-day simple moving average and the 100-day simple moving average. Using a moving average crossover to generate the signals, there were seven signals over the two years covered in the chart. Over these two years, the system would have been enormously profitable. This is due to the strong trends that developed from Oct-97 to Aug-98 and from Nov-98 to Aug-99. However, notice that as soon as the index starts to move sideways in a trading range, the whipsaws begin. The signals in Nov-97 (sell), Aug-99 (sell) and Sept-99 (buy) were reversed in a matter of days. Had these moving averages been longer (50- and 200-day moving averages), there would have been fewer whipsaws. Had these moving average been shorter (10 and 50-day moving average), there would have been more whipsaws, more signals, and earlier signals.

Advantages  and Disadvantages  of Lagging Indicators

There are three main advantages in using these types of indicators: a) They are very easy to set up and follow, thus, even relatively inexperienced traders can use them with little or on difficulty. b) Assuming  the trend develops into a strong one, the probability of getting "whipsawed" is rather small. c) They tend to be excellent confirming indicators.

The obvious disadvantage is that they rarely give a warning signal, plus, as we already mentioned earlier if they are used in a "trading" type of market they will result in plenty of false and unprofitable signals.

(source:stockcharts.com/Arthur hill)

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 楼主| 发表于 2009-4-23 16:55 | 显示全部楼层
Home Subscribers Login/Renew Why Gold? About The Editor Editor Interviews Common Investor Mistakes Sample Issue [PDF] Subscriber Comments Recent Issue Covers GSA User Guide [PDF] Advertising Information Contact Us




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But all investors really should care about is results, and that's where GSA's Top 10 delivers! In every issue, the Top 10 Stocks portfolio, it's year-to-date performance, and any changes made (we make about six trades a year) are found on Page 2. We give very clear alerts and all you have to do is follow our changes.

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If you already own other gold stocks that report Reserve ounces to the SEC's standards, you'll get our opinion and on-going coverage of them too. GSA follows the entire industry as that's the only way to know if a stock is undervalued, and we can like any stock at a certain price. If a big fund changes its managers and dumps a position, we might like the stock at the new lower price and since we already know it, we can immediately react to make it Top 10 if justified.
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PS: Gold Stock Analyst (GSA) is completely independent from the companies we cover. No private placements, stock options, reprint fees, monthly retainers, mailing/distribution subsidies, etc. And no investment banking fees from the all too-frequent stock sales by companies and M&A deals that bias the stock brokerage analysts.
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GSA makes around 6 trades a year (4 in 2007) and has held as much as 40% cash. We say "sell" when targets are reached or if our opinion changes. We avoid the more typical 25 to 40 "recommended" stocks... a number impossible to follow, and is just too many stocks to give good overall results. This is why no other gold stock advisory service presents their recommended portfolio's year-to-date and annual results, as do GSA, mutual funds, and your own brokerage account summaries.
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 楼主| 发表于 2009-4-23 17:11 | 显示全部楼层
Financial Sense   Home  l Market Monitor  l  Market WrapUp  l Storm Watch l  About Us l  Contact Us
Today's WrapUp by Ike Iossif 06.08.2004  Mon   Tue   Wed   Thu   Fri   Archive

PATTERN RECOGNITION ANALYSIS
Sometimes when a market is undergoing a "character” transformation due to the size and number of changes that are taking place simultaneously, we end up with lots of extreme and conflicting readings. In that case we select those indices, which have chart patterns that historically have provided us with recognizable and reliable outcome scenarios and we build our short-term expectations and strategy based upon them.
At the moment it is quite clear that between January and now the markets have been engaged either in an orderly sideways consolidation process, from which they will break out to the upside OR to the downside.
The high put/call ratio, the COT numbers showing commercial traders net long, and the new record number for NYSE member net buy/sell strongly suggest an upside breakout.
Conversely, the high volatility ratios, the low volume, the high number of stocks below their 200 MA despite the recent advance, the McClellan Oscillator rallying 700 points, the SP500 only gaining  4.1%, the number of new lows exceeding new highs, and "good news" greeted with sell orders, strongly suggest an imminent breakdown.
So, let's examine how a breakout or a breakdown would unfold based upon the current chart pattern.
The Dow has the cleanest chart for the job, so we'll focus primarily on the Dow this week and we'll use it as our "master guide” for confirmation in order to trade the SP or NASDAQ. The Dow has been in a well-defined and easily recognizable rising channel. It has risen to channel resistance twice, first during November-December of 2002 and second during January - February of 2004. We know that the first contact with channel resistance was followed by a decline to channel support in March of 2003. Since then, the Dow spent nine months rallying back up to channel resistance, which begs the question: Is it going to move higher above channel resistance or is it going to turn down again and revisit channel support?
Notice that the area of consolidation is still within the larger channel and it is defined by line "C" and line "B" (the upper two thick black lines). If it breaks to the upside, it would have to close above 10370. Therefore, if we have a Dow close this week above 10370, it would imply that the consolidation has resulted in an upside resolution, which should take the Dow to point "D" on the blue line (see next chart).
So if the Dow was to close above 10370, we would go LONG, with a stop at 10370 and we would expect the first upside price target to be in the 10850-11000 zone.
On the other hand,  if the Dow fails to close above 10370 and instead it turns back down, the key level to watch is the May lows. If the May lows are taken out on a closing basis, we should see a further decline to 9750, which is along line "B." From there, we ought to see a brief relief rally that will fail around 10000. This would be followed by another decline back down to channel support around 9100-9000, which happens to be at the intersection of  two support lines and also it is a 50% Fibonacci retracement number. So if Dow fails to close  above 10370, we will go SHORT with a stop at 10370.
Ike Iossif
Copyright © 2004 All rights reserved.
Ike Iossif
President & CIO Aegean Capital Group, Inc. &
Executive Producer MarketViews.tv

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 楼主| 发表于 2009-4-23 17:12 | 显示全部楼层
Financial Sense   Home  l Market Monitor  l  Market WrapUp  l Storm Watch l  About Us l  Contact Us
Today's WrapUp by Ike Iossif 06.08.2004  Mon   Tue   Wed   Thu   Fri   Archive

PATTERN RECOGNITION ANALYSIS
Sometimes when a market is undergoing a "character” transformation due to the size and number of changes that are taking place simultaneously, we end up with lots of extreme and conflicting readings. In that case we select those indices, which have chart patterns that historically have provided us with recognizable and reliable outcome scenarios and we build our short-term expectations and strategy based upon them.
At the moment it is quite clear that between January and now the markets have been engaged either in an orderly sideways consolidation process, from which they will break out to the upside OR to the downside.
The high put/call ratio, the COT numbers showing commercial traders net long, and the new record number for NYSE member net buy/sell strongly suggest an upside breakout.
Conversely, the high volatility ratios, the low volume, the high number of stocks below their 200 MA despite the recent advance, the McClellan Oscillator rallying 700 points, the SP500 only gaining  4.1%, the number of new lows exceeding new highs, and "good news" greeted with sell orders, strongly suggest an imminent breakdown.
So, let's examine how a breakout or a breakdown would unfold based upon the current chart pattern.
The Dow has the cleanest chart for the job, so we'll focus primarily on the Dow this week and we'll use it as our "master guide” for confirmation in order to trade the SP or NASDAQ. The Dow has been in a well-defined and easily recognizable rising channel. It has risen to channel resistance twice, first during November-December of 2002 and second during January - February of 2004. We know that the first contact with channel resistance was followed by a decline to channel support in March of 2003. Since then, the Dow spent nine months rallying back up to channel resistance, which begs the question: Is it going to move higher above channel resistance or is it going to turn down again and revisit channel support?
Notice that the area of consolidation is still within the larger channel and it is defined by line "C" and line "B" (the upper two thick black lines). If it breaks to the upside, it would have to close above 10370. Therefore, if we have a Dow close this week above 10370, it would imply that the consolidation has resulted in an upside resolution, which should take the Dow to point "D" on the blue line (see next chart).
So if the Dow was to close above 10370, we would go LONG, with a stop at 10370 and we would expect the first upside price target to be in the 10850-11000 zone.
On the other hand,  if the Dow fails to close above 10370 and instead it turns back down, the key level to watch is the May lows. If the May lows are taken out on a closing basis, we should see a further decline to 9750, which is along line "B." From there, we ought to see a brief relief rally that will fail around 10000. This would be followed by another decline back down to channel support around 9100-9000, which happens to be at the intersection of  two support lines and also it is a 50% Fibonacci retracement number. So if Dow fails to close  above 10370, we will go SHORT with a stop at 10370.
Ike Iossif
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 楼主| 发表于 2009-4-23 17:18 | 显示全部楼层
AEGEAN CAPITAL GROUP  INC.
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Guest: Mr. Kennedy Gammage
Kondratieff Wave Part I (scroll down the page for partII)
Wait until the page loads, then Click HEREto listen!
Kondratieff Wave Part II
Wait until the page loads, then Click HEREto listen!

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