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Chaos Clinic Recap

Here are Al's comments
3:07 stopped 38 for +6.25 ; done for the day;thanks for coming;see you next week;take a course
3:02 I have a research chart showing an energy attractor on the close at 1245-will cover 1244
2:58 stop 38
2:56 stop 36.75-locked 5; trying to show you how to go for more than 9
2:49 a normal hotline +9 cover would be 40.75-when it is hit, I'll move my stop to 36.75 and hold
2:44 now I expect the buying to speed up
2:40 stop to 1234; locking 2.25
2:34 made it above yesterday's close, so big guys trying to "paint it up"
2:33 a 50% retracew of 2 day pattern is about 1244
2:27 after 2:30, we usually see some short covering come in on a day like today
2:22 stop to 33 -may let it run to last Tide turn
2:20 looking OK now, stop to 32
2:11 the 440 EXMA at 1233 is the middle of the congestion; a price symetric move could reach 1249.5
2:05 at the exact Tide time, looking OK-I got sucked in early by the breakout; just be patient
2:00 looking OK, the <440 averages are up, and the 440 is curling up
1:49 we now have a rally that has held up over 2 1/2 hours - should attract bargain buying and short covering
1:40 this is that dip I said to watch for-unfortunately it got my trade, but not my poise; rebought 31.75 stop 27
1:38 out again for -4.5 ; no follow through
1:31 to clarify, this is the second hotline trade; I was hoping for a dip, but the breakout came first.
1:26 adjusted stop to 1231 due to chop
1:17 the fact that this trade came early suggests a good rally
1:14 bought 35.5 stop 32.5
1:08 testing high as enter trade window-putting buy stop at 1235.5; Moon +T180 flux line keeping me from placing it too close
1:00 so far still looks like on red -Tide; watch for a little panic sell off near 2:00
12:51 need to break about 1235.5 to prove the bulls can turn the 440 EXMA up; 1235.0 is Mercury+225
12:49 range 17.75 -almost a harmonic 18 points
12:44 I covered quickly on the stall at a marginal break of the high
12:40 prices are now pushing the 440 EXMA, trying to turn it up; taking +2
12:36 my Face of God pattern had me on the alert for that opportunity
12:31 what I saw there was the convergence at 1226, and divergence away from it
12:29 not a hotline trade, but one taken on the Rainbow chart-bought 1229 stop 1226
12:19 watch for support on Mercury+180 at 1226; notice how the rainbow is converging on that number
12:16 all of this jumping around is the market arcing inside the various electric fields-like arcs from a Tesla coil
12:01 low of last rally was on Moon+90 degrees, also 45 degrees to Mercury, so looks like the low of the day to me
11:56 made it up to the Moon -T090 flux , then stalled -now expect a sag into last trade time
11:49 rally is turning the 220 EXMA up. May stall here, and resume later
11:43 a low near 11:30 that holds up until 2:00 usually attracts late buying
11:39 bulls getting a rally going-220 EXMA is at 1227 on MTRAinbow chart -watch to see if it stops this rally
11:31 my educated guess is that we follow red -Tide, making a base, then a late rally
11:23 stopped on Moon flux as come to Moon vertical yellow T+90 fimeline; Moon flux may be a base
11:08 right in here the MoonTides flatten out, so we may congest until the second Trade time
11:07 taking +5-don't like this bounce
11:00 stop 22.5
10:57 stop to 23-just above 20 EXMA
10:50 testing the low ; moving stop to 26.5
10:40 one can use the 220 for a "strong hands" stop to try to hold for a bigger move-that would put a stop at
1232-a bit wide for my liking, but to each their own
10:33 the MTRainbow chart shows a strong downtrend-the 220 EXMA has stopped the last two rallies
10:26 stop 27.5
10:25 if you haven't gotten beaten up, you haven't traded-the important thing is to regain you poise, and persist
10:14 took short break, came back and sold 25.5 stop 28.5 on 110/20 "hook and go"
10:08 out again for -4 ;arrg; time for a long break; be back for second trade time
10:05 rebought at 30 stop 26-pretty choppy
9:54 the 110 EXMA has gone flat, so looks like congestion city
9:52 out -3 ; no follow through
9:47 bought 1232.5 stop 1229.5
9:44 I jumped too soon on the first entry-still looking for a 20/110 buy setup
9:37 out -1; watch for a while
9:34 stop to 1227
9:31 bought 1228 stop 1225
9:22 a 505 retrace of the last swing on the MTRainbow chart is about 1233-should make that
9:16 trying to turn up-waiting for the outcry open
9:10 110 EXMA is down, near 1227, at Moon/Mars/Jupiter flux
9:07 got some buying-may get a 20/110 buy signal, with added volume at the outcry open at 9:30
9:05 low came 180 degrees to Sun/Saturn
9:00 after an emotional reaction to a report, watch for a counter move , then a move in the direction of the reaction within 38 minute.
Then watch to see if the extreme holds for 38 minutes. If so, the reaction is likely to be reversed
8:51 on MTrainbow chart, we see divergence-the averages will, sooner or later, converge, so a technical rally is probable
8:48 looks like on green +Tide right now - it and XTide2Plus basically agree, so may see a rally
8:41 Bad jobs report dropped market-it was already oversold, now very oversold-watching to see if it can rally
8:00 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

9/5/2008 1:13:47 PM Mountain dp:: Thank you Al. A great weekend to all!
9/5/2008 11:31:52 AM Mountain Al:: This is the last trade
9/5/2008 11:30:18 AM Mountain dp:: Al, can you reconcile your "look for panic sell near 2" with rally buy? Are you looking for a short rally trade into the 2:00 move? Or are you poised for the rally buy here as the last trade? Thanks
9/5/2008 8:58:36 AM Mountain NPT:: It looks like a clam shell too me (I'm using 1 Min. chart)
9/5/2008 7:43:42 AM Mountain Al:: you are right- I misread it
9/5/2008 7:40:54 AM Mountain TG:: Al, got a 20/55 exma cross and a 15/20 exma cross both a few minutes prior to the outcry. But nothing close to a 20/110 cross when you bought near the outcry at 1228. I think you saw the 20 cross the oob 110 line near 1227.
9/5/2008 7:15:08 AM Mountain dp:: Good morning and good trading.
9/5/2008 6:19:48 AM Mountain Al:: GM all-good luck today
First Friday empl0yment report often volatile
9/5/2008 6:15:31 AM Mountain DBJ:: GM all and good trading for the clinic
9/5/2008 4:58:48 AM Mountain mm:: gm all - have a great day

9:00 Eastern-System: No comments

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