Yes You Can... Cash In On Chaos!

Chaos Clinic Recap

Here are Al's comments
1:34 I'm done for the day; thanks for coming; see you next week; take a course
1:33 no action in trade windwo-passing on second trade
1:22 cancelling buy stop; don't want to be entered long
1:17 putting a protective buy stop at 1182; need to break 1178 to break support
1:12 a bit more juice; watching for a good sell setup
1:08 no juice; when the 3 minute candlesticks are 3 ticks, there is not much direction
12:57 still just watching; don't see anything to get excited about
12:46 upswing seems to be stalling
12:37 outcry range barely over 6 points midday; not very good conditions
12:34 still following green +Tide
12:23 here I'm watching to see if we make a lower high
12:19 trading both sides of the 110 EXMA-continued congestion-stayout
12:11 updated the AUX page
12:05 from the high, we have 4 little swings; a Chaos Clamshell has 7
11:56 no breakdown; cancelling sell stop; still congesting
11:49 little double bottom at 1176; putting sell stop at 1175 just in case ; trying to wait for trade time
11:44 last low was 1176; a break of 1175 will attract programmed selling
11:38 next trade time is 12:44; maybe by then there will be a good trade setup
11:33 looking weak again-back down to the EXMA cluster
11:21 yet another good day to go camping :)
11:15 showing weakness again. Congestion remains intact.
11:11 passing on first trade-leaving the time window
11:06 the MTRainbow chart has all the longer averages flat
11:01 not looking good for a trade
10:55 congestions usually form horizontal ellispes. I have posted a chart showing this on the AUX page.
10:49 congestions are hard to trade; if I recognize one, I try to stay out of it
10:46 back to the center of the congestion; still just watching
10:34 so far following the green +Tide; still looking like a congestion on the MTRainbow chart.
10:30 stalled one tick above yesterday's late high; weak push
10:23 have a 9 point range 1173 to 1182 ; dull days oftend have 9 point ranges
10:19 so far this move has failed to break yesterday's late high; rapid changes of direction maks a move suspect
10:14 the MTRainbow chart is suggesting that we are in a congestion, so this rally could fade; waiting until after the trade time
10:10 testing yesterday's late high; I'm still just watching
10:09 pretty wild
9:59 sentiment essentially unchanged; no fodder for the bulls or the bears
All reports are linked on the left side of the ListOfCharts page under Economic News
9:54 coming into the trade time weak rally is suspect, high at 1180.75, support at 1177
9:50 the MTRainbow chart shows you today compared to yesterday; trading below yesterday's PM high
9:46 early economic reports were bland; last one is Consumer Sentiment at 9:55
9:44 getting some buying-will it get any follow through? Friday mornings often have choppy moves
9:38 on the SPSunMoonMer chart you can see that prices are trading near the Mercury +M270 ans sun +H270 electric field flux
9:30 market opening with the averages on the MTRainbow chart very flat; Trade times today 10:25 and 12:44
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

10/29/2010 2:00:58 PM MT Al****:: triple top on Mars R+270 electric field flux
10/29/2010 1:02:06 PM MT mm****:: Three stinkers !
10/29/2010 10:26:25 AM MT Al****:: RAH:by rapid change in direction I means 15-20 minute fast swings
JAB: yes
10/29/2010 10:15:37 AM MT jab****:: Dr Al, would you normally anticipate the mkt to exit this congestion in the same direction it entered, ie. down?
10/29/2010 8:27:00 AM MT RAH:: Maybe I should clarify my question, cause Al's sentence in its is obvious.... by "rapid change in direction" do you mean market heading lower than yesterday?
10/29/2010 8:24:04 AM MT RAH:: Al, what do you mean by "rapid changes of direction maks a move suspect" ?
10/29/2010 8:18:22 AM MT RAH:: Doesn't look like much headroom now; price reached upper Larson Band.
10/29/2010 8:17:27 AM MT RAH:: Hi Al & all, I'm only here for 1st trade time today. Tnx for commentary Al. Poss short after 10:24 perhaps? Will watch.
10/29/2010 7:52:32 AM MT mm****:: Michigan Sentiment Report coming up
10/29/2010 7:20:35 AM MT Al****:: GM all-good luck today-amen to the juice
10/29/2010 5:31:50 AM MT EOE:: GM everyone. I agree with you mm. Fridays have not been good for the clinic. lets get some juice today. good luck.
10/29/2010 5:30:33 AM MT mm****:: gm all - have a great day - let's hope for good volatility for the clinic - the last 2 Fridays were real stinkers

9:00 Eastern-System: No comments

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