Ewj: elliott wave

Low volume rally with no sellers, so far today.

That 830 SPX level is a .786 retracement of the 2/9 high at 875 down to the low at 666.79

837 SPX is the .618 retracement from the 1/6 high at 943.85 down to the low at 666.79
 
Took a bull horn in the behind, ouch. Im taking another look at commodity inflation plays. My daily counts look messy, A 30 min look is cleaner. The little purple line I have is going back to the massive double top which I had at 813
 

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Quote from Illum:

Took a bull horn in the behind, ouch. Im taking another look at commodity inflation plays.
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Lots of commodity type stocks are doing well today. The coal and steel group are very strong . . . even some nat-gas names and drillers even though NG is -9% today on an unanticipated build in inventories.

For trading vehicles, the coal stocks are some of the biggest beta names that I have ever seen.

ACI, BTU, CNX, CLF, and ANR.

Fundamentally speaking, it's best to stay away from central appalacia coal stocks who are under the EPA gun. That is why BTU is the premier name. Has a nice Australian operation as well that feeds the Asian markets.

http://www.peabodyenergy.com/pdfs/Howard Weil-032309-for web.pdf

The Obama "Cap and Trade" plan seems to be dead, for now.
 
Quote from Landis82:

Lots of commodity type stocks are doing well today. The coal and steel group are very strong . . . even some nat-gas names and drillers even though NG is -9% today on an unanticipated build in inventories.

For trading vehicles, the coal stocks are some of the biggest beta names that I have ever seen.

ACI, BTU, CNX, CLF, and ANR.

Fundamentally speaking, it's best to stay away from central appalacia coal stocks who are under the EPA gun. That is why BTU is the premier name. Has a nice Australian operation as well that feeds the Asian markets.
More...

Thx for the insight, truly appreciate it.
 
A higer high, first Buy Signal today :) .
Crossing the green resistance will be the second Buy Signal :D .
Move stop UP prepare to sell if the Market cannot hold.
The red lines are Sell Signals, move stop down with each signal :confused: .
 

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