Surf's Special Situation Journal

[eurotrasher]

ND,

always use the " best tool " for the job.

a surf post email alert to the crackberry is required.

barron will get right on it.

 

[eurotrasher]

Quote from NoDoji:

And I'm stepping away from my desk for a while...that's generally a signal for a very strong move.

can you set up an email alert for this.........

i will subscribe.

 

[marketsurfer]

Holding /CL into friday. Expecting further upside here.

 

[marketsurfer]

Quote from Xspurt:

It's interesting to compare a TA price driver in action with a surf price driver. TA gives precise zones and reveals the intent of the Strong Hands and it always drives out the weak hands.

Compare this to my last chart.

It's not so easy to call in advance because we usually follow the market, which seems a safer option. Time will tell.

(Pls excuse typos on chart)

I'll definitely admit that long wick on the last candle stick looks like a serious tell of weakening demand. Have you ever seen that candlestick on a daily where price kept going higher? Or as I suspect, that stick shape is extremely rare to non existent in the real world? surf

 

[eurotrasher]

dude,

that is a sky hook

there is a gap and i expect a fill, but the bear is in the air.

 

[Xspurt]

Quote from marketsurfer:

I'll definitely admit that long wick on the last candle stick looks like a serious tell of weakening demand. Have you ever seen that candlestick on a daily where price kept going higher? Or as I suspect, that stick shape is extremely rare to non existent in the real world? surf

In the real world, which JCP as far as I know participates in , the Shooting Star formation is common when there is bad news. It would be very rare for PA to go higher and especially when there are so many other factors involved in the picture.

It is not just the tail: it is where it occurred, the volume action, the candlestick approach, the reversal pattern, the prior high being taken out etc.

The problem it seems was...

"Just Wednesday, Johnson did a walk-through of J.C. Penney's new 'store within a store' concept with some 300 analysts. And he was pretty upbeat about how the shops were faring, which initially gave investors something to cheer about. But the stock did an about face, when Johnson said the second half of the year wouldn't look much different from the first half."

TA allowed you to be primed and ready to see what the market would do at a point I called the Attention Grabber so you could follow the smart money almost immediately.

The problem for investors is who is watching? The move started in the 1m but was so fast soon the 15m, the 30 and 60 min players were selling. Now the guys who are shorting are are the weekly traders.

 

[cornix]

Quote from marketsurfer:

No, following makes no sense. You need to get in prior to the "money" moving the market otherwise you are too late or at the best miss most of the move. Price Drivers try to place you into a trade PRIOR to the move taking place-- Following is for girlie men.
Just kidding! surf

Not exactly. When The Big Smart Money enters it does that not in an instant (unlike BoJ and other government institutions, which don't care of the profits and just hit "buy" or "sell" on huge volume but those cases are rare), but in stages... No biggie if you miss the beginning of the proccess waiting for confirmation of accumulation/distribution pattern, 60-80% of the move is still yours. If you are able to read TA of course.

One of the biggest mistakes traders make is somehow considering every move as belonging to them... It does not, it's nothing, you care of what you take, not what you miss as a woulda shoulda opportunity.

If you just take 5-10% of every move but do it consistently enough to show consistent profit, who cares of the rest?

 

[cornix]

Quote from marketsurfer:

I'll definitely admit that long wick on the last candle stick looks like a serious tell of weakening demand.

You just noticed value in TA, did you?

 

[marketsurfer]

SURF ALERT

LONG DJIA via /YM @13553

surf

 

[marketsurfer]

Quote from cornixforex:

Not exactly. When The Big Smart Money enters it does that not in an instant (unlike BoJ and other government institutions, which don't care of the profits and just hit "buy" or "sell" on huge volume but those cases are rare), but in stages... No biggie if you miss the beginning of the proccess waiting for confirmation of accumulation/distribution pattern, 60-80% of the move is still yours. If you are able to read TA of course.

One of the biggest mistakes traders make is somehow considering every move as belonging to them... It does not, it's nothing, you care of what you take, not what you miss as a woulda shoulda opportunity.

If you just take 5-10% of every move but do it consistently enough to show consistent profit, who cares of the rest?

First, define "big smart money"-- this is typical of the TA brigade, parroting statements they heard me say or they read about in books--without understanding what they are talking about. Goes along with the "follower" mentality.

Someone just contacted me-- do you really reside in Siberia? If this is accurate. I understand your defense of FX as its likely the only market you can access.

surf:eek: