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Chaos Clinic Recap

Here are Al's comments
3:41 out +.5 -now leaving
3:30 stop 870.5
3:20 stop to 872- will cover on close if not stopped out
3:18 this is the nature of chaotic markets: bore you to death, get you to leave, then move :)
3:15 what brought me back was one last look at my Fractal of Pi chart-posted in CCT Room
3:11-sold 871 stop 875, above last minor high
3:10 Wait- leaving my stop in and hanging aroun
3:04 passing on third trade-done for the day-thanks for coming; see you next week-take a course
3:03 looks like we hold up into the close
2:56 sitting on the edge of the cliff
2:49 marginal 20/110 sell-marginal because no juice-sell stop is in good position
2:44 note that we are only about 2 points from the opening outcry price
2:41 testing it-putting sell stop at 871
2:40 the 440 EXMA is at 871.75 - Prices would have to break below that for a sell
2:38 right now, the MTRainbow chart is showing congestion, so there may not be another trading opportunity
2:33 I think any move with juice will come in the last hour
2:30 looking weak at last trade time
2:25 the market has made a lower daily low and lower daily high, so I expect flat to down into the close
2:20 when I go back and read what I typed, I'm reminded of the grandmother who found her 2 year old granddaughter
typing away on the computer. She asked the granddaught what she was doing.
"I'm writing a book."
"What's it about?"
"I don't know. I can't read yet."
2:16 Two day pattern is a high, a decline, and a counter trend rally that looks like it is fading
2:14 time to back off a bit-staring too close at the one day chart
2:12 out flat again
2:10 stop to 874, under the pullback and the 55 EXMA
2:05 rebought 874.5 stop 873 again ; I flinched
2:03 out flat-no go
1:57 rebought 874.5, stop 873
1:53 stopped for +1 ; may rebuy
1:48 during that congestion we inveredt to the red -Tide, so looking for a high near 2:27
1:42 my cover is 878
1:39 posted a Face of God chart as chart 2 in the CCT Room; stop to 874
1:34 stop 873-under the 20 EXMA
1:31 stop 872
1:26 stop to 871.5 -using the 55 minute EXMA as a guide
1:23 today is not a high energy day, so I will take 5 points if I get it
1:19 stop 871
1:16 got above the 440 and 110 on the MTRainbow chart, suggesting a change in the trend to up
1:14 bought 873 stop 870
1:10 now the bulls are trying to get a rally going - need to break above 873 to get a following
1:07 the reason for being patient is that "Chaos Follows Dullness"
1:03 one of the hardest things about trading is learning to wait - we have no control over that
12:57 looks like someone big is distruting, stretching out this flat -not anxious to trade until it is over
12:53 looking for a sell here-can protect with stop at 873
12:47 after passing solar noon the energy could change
12:42 the market is still very flat, so I expect this rally to top out as per the green +Tide
12:40 getting the rally up now
12:29 looking weak going into second trade time
12:16 getting the rally out of the notch in the green +Tide
11:53 so far tracking the green +Tide -it tops out on the next trade time
on the Moon and Sun timelines - Moon squares Sun today
11:32 the rally is stalling out -the 440 is going flat for now
11:22 prices have made it above the 440 EXMA on the Rainbow chart, making it flatter-so the day has turned neutral
11:12 next trade time is 12:56, so not much to do until we get close; MoonTides give at most
3 good setups per day, so they encourage you not to overtrade
11:00 90 minutes, 4 swings, net movement 2 points-not good conditions
10:52 out -3
10:50 still OK-may get stopped-may have pressed it too close
10:40 still OK-just have to be patient here
10:22 one of my more cautious entries :) ; stop to 867
10:20 elected short, putting stop at 870
10:17 the last 5 trading hours have been congestion-I'm trying to stay out of it
10:14 putting a sell stop 864 under the neckline
10:07 rally stopped at Mercury electric field flux-so trapped in the dead zone between Mercury and Chiron
10:00 if you look at the 3 day Chaos Clinic chart, you see that Chiron has been support and a neckline
in a head and shoulders pattern-a break of the neckline would project a drop of about 20 points
9:55 early in the day I like to fit a Fractal of Pi to a two day chart like MTRainbow-posted such a chart in the Certified Chaos Trader's (CCT) Room
9:41 pretty weak - a good move to trade if you got on it near 9:00 Eastern-Our rules say not to trade
until the outcry session is on at 9:30, so we are just watching
9:34 first trade time is 10:26, so I'm just watching this move
9:28 early trading is under the 440 EXMA on the MTRainbow chart - bearish
9:00 Good morning from Chaos Manor

Besides the comments made by Al, the chat room is has live
comments from other traders who sometimes share their views,
trades and tips. Below are the chat room comments from this clinic

5/1/2009 1:39:28 PM MT kwc:: CAN the trend sometimes change when the lines cross?
5/1/2009 12:46:39 PM MT Al****:: bm: sure could, but Fridays have been dull all year
5/1/2009 12:40:21 PM MT Ahab****:: market seems to be following xtide..if so..maket should decline into close
5/1/2009 11:13:27 AM MT bm:: Al, dont you think that the fact of having a majority of european contries closed for May 1 ,labor day, can affect the market?
5/1/2009 10:26:57 AM MT MS:: Sorry just trying to get a grasp of how people trade using this info...thanks...
5/1/2009 10:25:59 AM MT MS:: ok gotcha!
5/1/2009 10:19:53 AM MT Al****:: how I traded it and how good the forecast was are two different things - I took the trade as a breakdown of the congestion, which turned out to be a bad decision. But I limited my loss, whcih is all I do control
5/1/2009 10:15:30 AM MT MS:: except he went short not long....
5/1/2009 10:12:25 AM MT mm****:: Al's Moon Tides seem to be hot today - the 10:26 was a beauty
5/1/2009 7:50:35 AM MT MS:: should we hold our questions until after regular trading hours?
5/1/2009 7:47:35 AM MT MS:: GM
5/1/2009 6:58:04 AM MT Al****:: GM all-good luck today
5/1/2009 6:52:55 AM MT UNI:: GM All
5/1/2009 6:27:54 AM MT DP****:: Good morning all. Welcome to the big show. You have found one of the greatest financial resources available to individuals. Good luck today.
5/1/2009 5:43:45 AM MT vxd:: Hi Al . When you write this rally ended , do you mean in a week forsee , month or longer term ?
5/1/2009 5:28:57 AM MT mm****:: gm all - have a great day

9:00 Eastern-System: No comments

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