Picking Tops.

Quote from Walther:

Only those who are using time forecasting methods know when top or bottom is approaching . There is a handful of sites who are dealing with this subject, ask for a free trial pick some brains, you might get an idea or two how to approach forecasting tops and bottoms.
www.tradingpro.com
www.wolfewave.com
www.perfecttradingsystems.com
Good luck
More...

I recall one of the posts showing a prediction of a 'Black Monday' using tradingpro, never happened.

http://www.elitetrader.com/vb/attachment.php?s=&postid=1201430
 
Quote from Walther:

"Only those who are using time forecasting methods know when top or bottom is approaching."

Wow Walther! How did they get the monopoly? Must have happened very recently cause the rest of us didn't know that. Hmm, guess I'll have to quit now I don't know what I'm doing.

Sorry to be a bit sarcastic, but get a grip man. No one idea/technique is the only "anything" for trading - we are only limited by creativity and skill.

If you've got something that's so hot it seems to run the market, great - bang the drum and show it off. But if you think it's the only one - you're living in a cave mate.
 
Long for a new high (as they pass off inventory to weaker hands....and that is EXACTLY what they are doing today))..........

http://www.charthub.com/images/2006/11/22/ES_317_VB.png

and then SHORT as buying completely evaporates.........

http://www.charthub.com/images/2006/11/22/ES_317_VB_2.png

I will hold some of these to see what happens throughout the day......I do have a MP level at 1404.25 so I will see if that holds as support. You have to keep taking shots because you will never know if a top is in place until after the fact imo.
 
The MP level of 1404.25 is holding so far.....taking some scalp LONG's in my LONG account.........

http://www.charthub.com/images/2006/11/22/ES_317_VB_6.png

http://www.charthub.com/images/2006/11/22/ES_317_VB_7.png

http://www.charthub.com/images/2006/11/22/ES_317_VB_8.png

http://www.charthub.com/images/2006/11/22/ES_317_VB_9.png

...while still holding some SHORT's in my SHORT account......waiting to see if the 1404.25 MP level will get tested again and broken at some point today (we traded around this level all day yesterday...will see what happens today).
 
I think it will go lower today, I have 1401 as a possible low and a bounce afterwards. If it does go lower, then I will be more certain on the bounce, than on more downside at the moment.
 
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