Archive for October, 2015

1000th letter…

Posted on Oct 27, 2015 by .

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Caausation or correlation? As we prepare our 1000th letter some serious theoretical and operational work needs to be done on our cornerstone system – Magee’s Basing Point Method. Or perhaps just a serious audit. The care and feeding of systems is a hotly debated topic amongst technicians – mostly these days statisticians and physicists. Subjects […]

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Engraved invitation…

Posted on Oct 25, 2015 by .

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http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p38955316076&a=266398464 You have heard of the famous market engraved invitation.  Here it is in the flesh.  Strong buying signals with the gap on top of power bars.  We bought  additions to our SPX position and will buy more next week. These invitations were scattered throughout the market.  Here QQQ: http://stockcharts.com/h-sc/ui?s=QQQ&p=D&yr=0&mn=6&dy=0&id=p10072938397&a=266692690 We think tech is extremely […]

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The 1001st letter…

Posted on Oct 22, 2015 by .

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http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p38955316076&a=266398464 While the 1000th letter is in preparation this comment  is in order.  What we have conjectured as a zeta wave looks strong enough to be showing buy signals.  We will be adding on to our S&P positions.  At the same time  we  should be expecting a modest downwave here.  Contrarians can’t stand a long […]

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Waiting for rain (or Godot) …and the 1000th letter…

Posted on Oct 17, 2015 by .

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http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p38955316076&a=266398464 Like a man playing with a cobra we have been watching the market waiting for it to bite us.  This is not our usual posture.  We are never deterred from a trade by the prospect of a small loss.  It probably has something to do with the recent experience of being inside a washing […]

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Market structure becoming clear…(apparently)

Posted on Oct 08, 2015 by .

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http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p38955316076&a=266398464 Eight days of constructive activity can salve a lot of hurt feelings.  It can also do a lot to repair the chart.  In fact we can now see some recognizable structure in the market after being bounced around like a pinball.  We tried early on to find an a-b-g-z pattern after the flash crash. […]

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