The Chronicles of Rennick

[sandygray66]

I was surprised that no one pointed out that yesterday's whiff at the plate could be felt in the stands.

The call was for a continued weak (down) market. I believe the calls come out at about 1:00pm EDT. That time was the low of the day, and the market rallied from there into the close (ES was up about 6 points from around 1pm).

The ball seems to be a bit clouded recently.

 

[William Rennick]

Quote from dandxg:

How is plus 73 on the dow flat/neutral? I think the ball is ofen right, but not this time Oh Mighty Won :eek:

OK guys, I don't really like argueing balls and strikes, but I have to totally defend the Ball. First it needs to be understood that the "Ball"s morning Update covers the post open until 12 pm time frame. So whereever the Averages are at 9:40 am is the starting point.

The Market opened strong with the dow up 44 points and the Nasdaq up 19 at the 9:40 am morning update. The morning call very correctly was neutral calling for flat market action during the morning session. At 12pm when the morning session ended the dow was up 55 and the Nas was up 24. In my book an 11 point advance on the dow over the course of a potentially volatile morning session is very flat.

Now, lets take a look at the afternoon. The real "Ball"s afternoon update time is 1:05 pm. At that time the dow was +58, Nas+29, and S&P500 was +7.88. At the close 3 hours later the dow was +72, Nas+30,and the S&P500 +6.87.
Now, keep in mind that there was an FOMC policy decision in the middle of all this. I would say that not only were these good calls, they were absoulute bullseyes. I really don't understand the criticism today, the "Balls" nailed a Flat call on a Fed day when it's totally foolish to trade anyway. If your not convinced by what I just said, go ahead and click todays chart below, a picture says a 1000 words.

Rennick Lee Bailey out

ps,. If you use the Rennick update time (1:55pm) with the dow +69 it was even flatter, for a total huge Market move of 3 whole dow points.

 

[bsmeter]

The Ball isn't broken. It's "other circumstances" at play.

Kind of like exit polls are never wrong except in voting areas where Diebold machines are in use.

 

[William Rennick]

Quote from sandygray66:

I was surprised that no one pointed out that yesterday's whiff at the plate could be felt in the stands.

To Sandy, you're right Tuesday's noon "Ball" call for continued WEAK Market action missed the mark. But it should be mentioned that the Morning weak call was a bullseye which should have produced fulfilled sell targets for anyone who trades using the 'Balls' reccommended trading guidelines. The forecasted downtrend turned out to be quite powerful at it's peak, even though it retraced more than half of it's losses at the close. Bottom line was that the "Ball" gave me a solid win in the morning when I hit my sell target at 11:55 am. I never entered a trade in the afternoon as it hadn't countertrended enough by 2:40pm which is usually my deadline for entering a trade.

 

[caddyshack2006]

hey gramps,
good job explaining the nuances of the "Ball" to these cats.
dan probably be scratchin his head as how a plus 73 day could be flat. like the ren man said, today started at plus 44 and closed out 12pm at plus 55 or so. the other thing is that there is the time period of 12pm to 1:05pm(lunch) which is not covered by a forecast since it is in between. i, for one usually just ride the morning call until i see what the afternoon call is. this afternoon was even flatter. i wuz jazzed the "ball" sent out a flat, don't trade call.
tuesday's predicted morning selloff was so good that i hit my sell order before noon. i traded the afternoon call and was stopped out at around 3:30 when the market started risin. oh well, i really don't expect to score a win on every single trade. it looks like it needs to right 100% or the rotten tomatoes start flying. long live that beautiful ball, and oh yea,,you too gramps

 

[William Rennick]

THURS. 9/21 1:20pm Dow-69

Walking in with the Amazing One today is legendary recording artist Gorden Lightfoot who will be assisting with today's forecast. They both approach the mighty "Chrystal Ball", take a long look then huddle for a moment. A concerned looking Rennick and Lightfoot walk to the podium. Rennick gives the nod and Gorden Lightfoot with guitar in hand will now perform

"The legend says the Market never gives up her dead, could this be the Witch of October come earlleeee??? At 12pm the old cook came on deck and said fellas it's too rough to feed ya. At 2:45 when major support will give way he'll say fellas it's been good to know ya. Does anyone know where the love of God goes when the witch of October comes earlleee... "

Lightfoot puts down his guitar and exits the podium. Rennick will now speak
"Ladies and Gentlemen lets give it up for Gorden Lightfoot!!! (studio audience in the Chrystal Balls room erupts in thunderous applause.) Umm, for those not sure what Gorden just sang about let me translate. The Mystical Orb is NEGATIVE calling for further WEAK Market action this afternoon. Let's hope it's even worse than in Gorden's song. He's going out on a limb and predicting the down-trend will intensify at 2:45 pm... We shall see"

Rennick escorts his famous guest to the dining room where Mrs.Rennick has prepared a delicious meal.

 

[dandxg]

Quote from William Rennick:

OK guys, I don't really like argueing balls and strikes, but I have to totally defend the Ball. First it needs to be understood that the "Ball"s morning Update covers the post open until 12 pm time frame. So whereever the Averages are at 9:40 am is the starting point.

The Market opened strong with the dow up 44 points and the Nasdaq up 19 at the 9:40 am morning update. The morning call very correctly was neutral calling for flat market action during the morning session. At 12pm when the morning session ended the dow was up 55 and the Nas was up 24. In my book an 11 point advance on the dow over the course of a potentially volatile morning session is very flat.

Now, lets take a look at the afternoon. The real "Ball"s afternoon update time is 1:05 pm. At that time the dow was +58, Nas+29, and S&P500 was +7.88. At the close 3 hours later the dow was +72, Nas+30,and the S&P500 +6.87.
Now, keep in mind that there was an FOMC policy decision in the middle of all this. I would say that not only were these good calls, they were absoulute bullseyes. I really don't understand the criticism today, the "Balls" nailed a Flat call on a Fed day when it's totally foolish to trade anyway. If your not convinced by what I just said, go ahead and click todays chart below, a picture says a 1000 words.

Rennick Lee Bailey out

ps,. If you use the Rennick update time (1:55pm) with the dow +69 it was even flatter, for a total huge Market move of 3 whole dow points.

Thanks Rennick for that explanation. Make sense now. I just follow this thread for fun. I trade futures and the ball calls don't fit in to my method at this point. Good trading to everyone.

Dan

 

[jzlucas]

Quote from William Rennick:

THURS. 9/21 1:20pm Dow-69

Walking in with the Amazing One today is legendary recording artist Gorden Lightfoot who will be assisting with today's forecast. They both approach the mighty "Chrystal Ball", take a long look then huddle for a moment. A concerned looking Rennick and Lightfoot walk to the podium. Rennick gives the nod and Gorden Lightfoot with guitar in hand will now perform

"The legend says the Market never gives up her dead, could this be the Witch of October come earlleeee??? At 12pm the old cook came on deck and said fellas it's too rough to feed ya. At 2:45 when major support will give way he'll say fellas it's been good to know ya. Does anyone know where the love of God goes when the witch of October comes earlleee... "

Lightfoot puts down his guitar and exits the podium. Rennick will now speak
"Ladies and Gentlemen lets give it up for Gorden Lightfoot!!! (studio audience in the Chrystal Balls room erupts in thunderous applause.) Umm, for those not sure what Gorden just sang about let me translate. The Mystical Orb is NEGATIVE calling for further WEAK Market action this afternoon. Let's hope it's even worse than in Gorden's song. He's going out on a limb and predicting the down-trend will intensify at 2:45 pm... We shall see"

Rennick escorts his famous guest to the dining room where Mrs.Rennick has prepared a delicious meal.

LOL! Your market updates are most entertaining. I'm stopped out, time to tune up the 12 string and relax for the rest of the day. Good Trading all.

 

[William Rennick]

Quote from William Rennick:

THURS. 9/21 1:20pm Dow-69

Walking in with the Amazing One today is legendary recording artist Gorden Lightfoot who will be assisting with today's forecast. They both approach the mighty "Chrystal Ball", take a long look then huddle for a moment. A concerned looking Rennick and Lightfoot walk to the podium. Rennick gives the nod and Gorden Lightfoot with guitar in hand will now perform

"The legend says the Market never gives up her dead, could this be the Witch of October come earlleeee??? At 12pm the old cook came on deck and said fellas it's too rough to feed ya. At 2:45 when major support will give way he'll say fellas it's been good to know ya. Does anyone know where the love of God goes when the witch of October comes earlleee... "

Lightfoot puts down his guitar and exits the podium. Rennick will now speak
"Ladies and Gentlemen lets give it up for Gorden Lightfoot!!! (studio audience in the Chrystal Balls room erupts in thunderous applause.) Umm, for those not sure what Gorden just sang about let me translate. The Mystical Orb is NEGATIVE calling for further WEAK Market action this afternoon. Let's hope it's even worse than in Gorden's song. He's going out on a limb and predicting the down-trend will intensify at 2:45 pm... We shall see"

Rennick escorts his famous guest to the dining room where Mrs.Rennick has prepared a delicious meal.

2:45 Market Update

Rennick and Gordon Lightfoot are in the secure Situation Bunker located deep in the bowells of Rennick Manor. Rennick will now take the mic.
My good friend Gordon Lightfoot has just nailed his 2:45 prediction as the Averages went to the lows of the day at precisely 2:45pm EDT. He will now be known as the Amazing Gordon Lightfoot. He has asked to read a statement and then a few chords on his guitar.

The Amazing Lightfoot will now speak, and then sing...
Thanks Bill, I would like to read a morse code message from the old Cook we just recieved on Rennicks Short Wave radio . It say's "Oyy ya Bloody Wankers, mayday,mayday, jump ship she's going down. women and children first.. bloody baastards, mayday,mayday...

and now music legend Gordon Lightfoot will perform,, "those greedy old Bulls were a bone to chewed when the witch of October came stealin..."

 

[austinp]

Rennick, I've said this before: If I could assemble words like you so easily can that entertained so well, I wouldn't be a day-trader stuck inside these charts every day.

BTW... any chance Dan Marino might make a guest appearance with y'all sometime? Our beloved Dolphins could still use his aging arm these days :>)

Please keep up the excellent work on all counts