GRACE UNDER PRESSURE

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OCT 5  weekend report      I love the way the above picture captures the theme of GRACE UNDER PRESSURE  ( Picture Credit to Rush & Hugh Syme).   Ermest Hemmingway wrote that "Courage is Grace under Pressure" and for the past few weeks, the markets began selling off,  thus pressuring  'buy & hold' investors.  Remaining Graceful while enduring the "Pressure' of the markets selling off allows one the "Courage" to make good decisions.  I feel that most readers here are that way.  For protection , We actually trade with stops in place  ( be it mental or a be it a hard stop),  looking  forward to pullbacks  in hopes of buying at 'discount prices'.   While I haven't see all out panic,I have seen CNBC  interviewing many lately asking,  "Is this it?  Have the Markets topped & is October going to be the month of a crash?"  The question is...."What were you doing?"    On Thursday , OCT 1 , I Tweeted this SPY CHART , pointing out OCT 2013 selling off to the 26 WMA (Red line) . Would we get that 193 area ?   SPY      We Did get that red line  (193) and it looks to have reversed.  Yay for the chart & reliability  of these markets so far.   SPY OCT 3   If you bought a nice set up in that reversal ,  you displayed Courage and  Grace under Pressure...   Read More

QUICK NOTE

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Oct 3, 2014    Just a quick note….It looks like its going to be a good day for traders.  Yesterdays late day reversal in the sell off of the markets has set up some very beautiful charts. Looking at the 50sma, many of the recent pullbacks landed and reversed there.  It was a time to start […]

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MARIO SPEAKS TODAY

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Thursday  Oct 2 ,  2014       Mario Draghi is speaking today , and likely it will affect the markets. We have JOBS Report Friday too, so the next few days can affect, even change the markets. The charts are very extended in some areas and almost calling for a little change. Nothing is certain, but lets look at some charts and see if there are clues what kind of changes could take place. We can start with something that certainly could be moved by Mario...   The Euro -  $XEU is due for AT LEAST a bounce and may have completed 5 waves for the Elliott Wave fans   $XEU   The opposite of the $XEU is the $USD.  Is that over-extended to the upside? ...   Read More