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Great thread guys! Keep up the solid work. If Natty surges, they are gonna catch a whole lot of mutual fund guys out in the cold when it comes to land drillers like PTEN, which by the way has ZERO debt on its books! http://futures.tradingcharts.com/cotcharts/NG

My sentiments exactly! 5 little waves down in the C-wave before we got a bounce of roughly 55% before breaking down further on light volume to 95.72 SPY. - - - Been chopping around for the last 15 minutes as we head into the close. Perhaps a slight push back up before the bell. Today, is...

Believe it or not, my clearing firm does not mark to market on VOLUME. They mark to market on PRICE. :p

Excellent call! Just traded up to 984 and change on the SPX. :cool:

Thanks Mup! Markets acting well even with a horrible Chicago Purchasing Manager report that tumbled to 38.6% :)

His comments confirm that he is a follower of Elliott Wave Theory. He ( as well as others ) were looking for a 5th wave to the downside late last week. When it didn't materialize, he changed his "tone" rather quickly and is now looking for a multi-week rally.

Duuuuude . . . The poster that I quoted and asked why such a thread is in the TRADING forum IS a moderator! And people wonder why there is rarely any value in ET's "Trading Forum". Their more interested in what some "clown" has to say on CNBC. Go figure.

Why is this in the TRADING FORUM???

The media is citing alleged comments by GE on 2009 for the sell-off in the market . . . that GE is now saying was "old" news. But followers of EWT knew better! :p

Absolutely incredible! But where to now??? I'm still confused on the bigger picture. Oh, and by the way I think that I heard Art Cashin comment earlier today that he saw an ongoing rally that would last for weeks! Failed 5th wave in (3) for Art? :D

Wowwwwwwwwww!!! Weeeeeee!!! Dive! Dive!! Dive!!! :eek:

Chart.

Let me clarify . . . The correction of Wave 1 ( this morning's gap up ) was 38 points. ( ie. Wave 2 was 38 points ). After the late afternoon highs up around 954.75, the followers of EWT were looking for a Wave 4 pullback . . . We got that down to 926 after the FED announced its...

You NAILED IT my friend! All over in about 10 minutes, too!!! :p

Welcome Kurt to the most valuable thread on ET. Please keep it a secret! :D

Just retraced 78.6% down to 926 ES. Should stabilize and climb back up from here.

Hope you aren't using the unemployment rate to TRADE the stock market with.

Pretty decent resistance up around 985 SPX. That would most likely be the key tipping point. Stay tuned.

And interestingly enough, a 61.8% fibonacci retracement of the recent leg down in the SPX from 1313 on August 11th to the low at 839.80 gives you a possible target of: 1132. :) NOTE: For Elliott Wave followers ( Art Cashin being one of them ), a 5th and final leg down is in the offing...

If you want actual "technical analysis" information on the markets, it is rarely found in the Trading Forum. :(