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Chaos Clinic Recap

Here are Al's comments
3:10 I'm done for the day; another MM stinker; thanks for coming; see you next week; take some courses
3:06 covering on the stall for -.5
2:59 staying under the 110; 20 EXMA flat
2:52 we do have a 3:09 Tide time; I just want to be sure I have a good stop in at that time
2:47 from here I just us my SPKiss chart and watch my EXMA's
2:43 my stop is a tight as it could be; just need to wait
2:40 up to the 110 ; stop held so far
2:34 a critical time of day is around 2:30; many trading organizations decide how to cles our the day abour then
2:30 testing the neck line; stop to 1220, just above the 110 EXMA
2:28 here I'm watching to see if the 20 minute EXMA keeps heading down
2:27 still not a lot of juice
2:21 a break of the neckline would suggest a drop to about 1212
2:18 today's pattern looks like a head and shoulders
2:18 have to take the trade because the EXM's are right in the third trade window
2:16 OK, sold 1218.5 stop 1221.5
2:12 given the up energy of this week, I do not expect any heavy selling
2:09 unless prices break the 440 EXMA, the odds are for a rally by end of day
2:08 don't like this dip, aborting for -1.25
2:04 replaced my Fractal of Pi chart in the CCT room with a Fractal Grid chart from the CTME course
2:00 trade still OK, at least no adverse reaction; trying to be patient and ignore the smell of this stinker
1:52 dull and flat; could have passed on mid day trade and waited
1:41 coming to the Mercury/Chiron/Neptune timelines; may be hot because their flux lines were support
1:38 here I'm watching the 440 EXMA-it is up steady, was support, and is above my stop
1:33 already into the third trade window; I'll probably just carry this trade through
1:27 the mid day low +9 is 1226.25, which may be the extreme; so I'll settle for 5 if I get it
1:16 not much juice yet; may build as day wears on
1:10 bought 1221, stop 1218
1:08 but not much
1:04 getting some juice
12:56 still flat passing the Venus, Moon, and Sun timelines; mid day doldrums
12:44 the mid day trade has recently been a pass; this one may be as well
12:42 bounce off the 440 EXMA and curled the 110 up; watching the nature of this little rally
12:38 I'm back- past 2nd trade time; looking slightly bullish for next hour
12:27 I have to leave for about 15 minutes
12:21 quantum prices are increments of so may point, 3 in the intraday S&P. Today rallye 3 quantums, pulled back 2
12:08 so far following the red -Tide; low set by Mercury/Chiron/Neptune flux
12:05 held the outcry low; the outcry range is 7.5 points, not great
12:01 all the way down to the 440 EXMA; that cardinal 1224=0 degrees was deadly
11:58 getting a pretty good sell off; posted a chart in the Certified Chaos Trader's Room.
That room is open to the graduates of my four main courses. See -> courses for more.
11:47 yesterday the morning high was set by the Sun and Uranus flux, and again today. It took all day
yesterday to get above the morning high.
11:37 broke that; may drift down to the Mars +R090 flux; just watching until after next trade time
11:31 that rally did get prices above the Moon +T135 flux, which is, for now, support
11:27 all the action so far has been between the 1215 to 1224 quantum prices, a 9 point range; Days like this often stay within the initial range
11:18 the market looks like it will hold up all day. On the MTRainbow chart, the white 440 minute EXMA is solidly up
11:07 I really did not like that trade. The momentum ( speed) slowed after the break to new highs.
11:04 aborting for -.75
11:00 near next Tide time, still holding
10:58 stop to 1221.5, trailing high by 3 points
10:53 sitting on the Uranus +U000 flux line; Uranus is the planet of surprises
10:49 after about 11:10 I expect more buying, based on something from the Chaos Trading Made Easy course
10:45 pattern looking OK, stop is good, may hold past 11:05 if it looks OK
10:43 top at cardinal 0 degrees
10:39 every trade starts as a loss, the difference between your entry and your stop. Control that. Its all you can control once in a trade.
10:37 stop to 1221
10:34 next Tide time is 11:05, by rule I should consider covering then
10:31 elected long, stop at 1220
10:26 pushed the high by one tick; needs to break it solidly
10:24 charts now fixed; nothing like a little technocrap at trade time :)
10:21 putting a buy stop at 1223.25
10:20 not making new highs yet; no luck on fixing broken charts
10:15 trying to rally, still watching
10:07 meanwhile, prices have quivered to a stop
10:02 A couple of charts are not working correctly, not sure what's going on. One should not depend on charts on
this site only, but should be using a good online trading program liek eSignal, Wave59, or TradeStation
9:51 since the Moon is active, I note that the Moon +T090 flux is near 1213. Possible support
9:48 on the SPSunMoonMer can Chaos Clinic charts, the early high was set by the Moon +T135 electric field flux
and the low so far set by the Moon -T180 flux, trapping prices
9:45 the past three Fridays have been "MM stinkers", and not good to trade. MM is my most loyal subscriber, with me since the start.
9:42 nice little rally; will it make a new high?
9:37 the early pop made a new high for the year; now it looks like the market will digest that for a while
9:25 opening up a bit after a positive employment report. Trade times today are 10:10, 12:28, and 14:05
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

11/5/2010 2:14:08 PM MT Al****:: posted final chart on AUX page
11/5/2010 11:03:13 AM MT Al****:: you called it again, MM
11/5/2010 10:58:03 AM MT mm****:: EOE - stinker #4? - LOL!
11/5/2010 10:13:54 AM MT Al****:: quantum comes from "digitizing" prices; the S&P intrady has 3 point qunatums, which I discovered by research.
11/5/2010 10:03:11 AM MT MJ:: Dr. Larson, why are the end points that make up a 9-point range called 'quantum' prices?
11/5/2010 8:59:32 AM MT Al****:: yes, trade times are a subset of Tide times
11/5/2010 8:53:38 AM MT RAH:: Al, by "Tide Time" of 11.05, you mean when the tide turns rather than a "Trade Time"... next Trade Time I have as 12:28.
11/5/2010 7:50:21 AM MT RAH:: Correction: I see Chaos clinic chart, but not SPKISS or SP1Day, both of which I tend to use instead of ChaosClinic. Al?
11/5/2010 7:49:11 AM MT RAH:: I have 09:48 for NY time, but I don't see any live charts on this website?
11/5/2010 7:41:51 AM MT RAH:: Al, it IS good to know about the world around us, but I agree that what is MORE important is to worry about what we can control... unless you're in congress its unlikely that you can control the Fed, prob not even Congress anymore! So, I agree, lets concentrate on getting money out of S&P! :-)
11/5/2010 7:17:16 AM MT Al****:: GM all-good luck today
I agree governments AND individuals should not have debt, but that's all shoulda, coulda, woulda, which will cost any trader a lot of money
One has to just trade the IS, and worry about what you can control, which is your own actions.
11/5/2010 7:06:02 AM MT mm****:: The SP jumped higher than the April '10 high - so now we have a new High since the big sell-off in September '08
11/5/2010 5:48:02 AM MT EOE:: GM everyone. its another beautiful day. good luck. as I'll be out most of the day today. THIS WILL be the Friday that isn't the stinker. ;-)
11/5/2010 5:27:12 AM MT mm****:: gm all - I am not getting involved in the FED discussion, even though I felt like responding to Al's comment in the Chat Room yesterday - it is a most complicated issue - let's hope for good volatility today - again: the last THREE Fridays were stinkers - have a great day !
11/5/2010 4:30:58 AM MT RAH:: typo: US govt is paying interest on something which didn't cost the Fed anything to BUY from the govt.
11/5/2010 4:28:07 AM MT RAH:: I hope I don't annoy Al with a different perspective on the Fed. When the Fed buys bonds, quantitive easing, printing money, etc, they don't finance the government using any value, they just "create" the "dollars" out of thin air. So the US govt is paying interest on something which didn't cost the Fed anything to give/sell the govt. What SHOULD be happening with banking in USA (and other countries) is that the govt should be issuing its own sovereign money (no interest, no debt). This is entirely possible. There is essentially no reason for the US government or any other government to have any debt! Negotiable money supply - yes, but no debt ridden BUYING the money from someone else! Check Youtube out for video called The Money Masters. Brilliant description of banking.

9:00 Eastern-System: No comments

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