Tag Archives: indu

What is it about rocket blast offs that you don’t understand?

Posted on Jul 02, 2011 by WHC Bassetti.

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Most readers (most professionals) are unaware of the four percent system.  To oversimplify, when the index (various including mainly Value Line) surges by four percent in a week, buy.  When the index drops by four percent in a week, sell.  Mechanics and engineers can see the specifics of this system in our GGU folder:  http://www.edwards-magee.com/files/ggu/systemfourpercent.pdf.  The Dow rocket just shot into space in a week that recorded over 5% gains, snapping shut the bear trap with a clang (or a ka-ching).  Does this make sense?  No.  It’s just musical chairs and the Old Maid card being handed out to traders who believe their own opinions that they are going to see a bear market.  Solly, Chalie.

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No old bold pilots….

Posted on Jun 24, 2011 by WHC Bassetti.

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There are bold pilots and old pilots, but there are no old bold pilots.  So said the Red Baron.  The aggressive buy signal we saw several days ago has been effectively canceled by the last three days.  Readers should have at the top of their consciousness until informed otherwise our recently reiterated remark (note alliteration) that signals seriously stink in these markets.

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Buy signals for the aggressive.

Posted on Jun 21, 2011 by WHC Bassetti.

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The last three or for days ought to put to rest what the nature of this downwave is (was).  It was a test of the bulls arranged by the contrarians.  As of now the contrarians are firmly in control and we should see them drive the market to the top of the range and then play musical chairs again.  Not a certainty, but a certainty that we are in a sideways trading market.  Long term investors are protected by the Variant 1 wave low stop.

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Greased pig market…

Posted on Jun 15, 2011 by WHC Bassetti.

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Technicians note that a failed signal, followed by a signal in the opposite direction, is a high probability bet, meaning that today’s cancelation of yesterday’s power bar presages further downside.

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Belaboring the obvious–downwave ends.

Posted on Jun 14, 2011 by WHC Bassetti.

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Power bars like this almost invariably mark the end of downwaves.  Meaning traders who are short will now see their profits eaten if they don’t reverse.  It is largely a futile exercise to ask why this is occurring.  It doesn’t matter why.  It’s technical.  The music stopped and the traders are running for chairs.  Shorts now will be left holding the old maid card.

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