So, although I see almost no chance (okay, perhaps one in a million) that this will open anything but up, and then rush up even more, I'm watching 1233-34 if this 1240-41 (Friday's low was 1242, close enough given that 40-41 is the center of the area, not the entire area) doesn't turn it. Like I said, though, it's Sunday night, so it should gap up and run, right?

One scenario is they bring it down a bit more, and then QE3 is announced, along with more Euro bailouts, and then we start Carl's march well into the 1300's, and then beyond. I think they will print until the collapse, as I've always said, and printing almost always leads to higher asset prices. (The value usually declines in reality, but the 'repricing' in devalued dollars has a higher number, like when Zimbabwe went into hyperinflation and in Zimbabwe dollar terms their stock market was the highest performing in the world (from a percentage standpoint)).

So, I think it is just a matter of does it go straight up from here, or do they bring it in a little first before all the additional intervention drives it higher. They may also bring it up a bit, and then down into the early AM, to get better prices, and then up tomorrow. I've mentioned that game in here frequently, too.

Got gold???

24.75 just hit. My area, as time and lines have progressed, is 22.50-24.50, give or take, center of area.

Posted-12/08/2011 : 14:55:57

Originally posted by jimkane

Is this really headed to 24.50 today???

Some day I may write some books and explain how I do all this. No, wait, people will have no desire to make me rich and won't buy them, and they'll think I am trying to rip them off while making myself rich. They are way too smart to fall for that. I guess I'm stuck with only trying to trade this stuff. Oh, well.

P.S. For those new to the forum who don't understand what my problem is and why I keep ranting and raving the same thing over and over, it's the price you have to pay to see my work in here. It is about a long history out in the public area where I feel I got thrown under the wheels of the bus, totally forsaken, and treated just plain wrong, and although it was supposed to be over, and I haven't posted 'out there' in forever, the main person behind all that just ripped me up again, and I'm really bothered by it.

I have zero recourse, I'm powerless to do anything about it, as my good name gets tarnished (and I was raised to believe our name and our integrity is the most important thing in the world), so all I can do is vent in here (and make what I think are absolutely outrageous posts, in advance). So, that's what I'm doing. Please forgive me, but allow me that indulgence, in exchange for all I am showing you.

So, I said 24.50 way back, and it hit 24.75 for the LOD, which drew the bounce of 6 points so far. Why did I think it may hit that area today? Why did I post that way, way before it happened? How did it rise so much, hit my area, and then drop like a stone right to the spot I posted way back? Geometry, my friends.

All I am doing is applying the techniques in the books, the things we have covered in here, the things jarek (speaking of jarek, too bad he left us, as far as charting...) used to post as my chart poster in chief, and so on. It's all just geometry. Day in and day out.

I tell you what I am watching, it's your job to study the thousands and thousands of posts in here, the books, my comments, and do the work. And they used to say the market is totally random... Then, again, 'they' say I've never called anything out in advance, too.

Originally posted by jimkane

24.75 just hit. My area, as time and lines have progressed, is 22.50-24.50, give or take, center of area.

Posted-12/08/2011 : 14:55:57

Originally posted by jimkane

Is this really headed to 24.50 today???

Okay, another fun day for Jim. Business as usual. Over and out. I'm sure I'll post later today, or whenever I think of something.

Here's an aside. I am getting ready to work with a student right now. One thing I may do with a student is work on all of what I showed, in advance, today. They may have their own work, but they didn't see what I posted. So, I'll show them every last detail of the work I did, how I came up with the areas, and so on. I guide them, I try to ask them questions and get them to see it themselves, and do the work as I watch. What they can't get, I show them. Then they have everything on their charts that I did.

We may then work on tomorrow's layouts, what I have done to be ready to do the same thing tomorrow. They have this in advance, with my logic and reasoning. We may look at possible scenarios that may unfold during the day, and how I would do the work for those. All in advance. It's not so much the work that is so valuable, I think, it's how to do the work. All overseen and discussed with me. All part of a learning process that has taken me about 40,000 hours so far, and requires perhaps 10,000 hours just for minimal competency. It's not a trick or quicky technique, this style of trading, it's a lifelong process.

So, does that student time sound valuable, or like I'm ripping them off? Full and essentially complete access to my brain, and my 40,000 hours of experience.

Jim, I'm a bit confused. You said:

"40.50 draws the reaction. But, like the last area, I think it will only be a tiny checkback, then the next leg starts."

So, why would you trade this area? I thought you thought it was going to go up.

Well, here's my next sentence:

"This is a key area, though, so I'm 'ready'."

That was followed in another post by this:

"My students will see the amazing trigger for this one."

It all depends on what price action tells me. I let the market speak to me. It tells me, I don't tell it.

Very nice setup, imho. Kane DB ABCD completing at 0.300 fibo. Also occurring at Point D of ABCD, are: 0.886, 1.618, 1.272 fibos, SL, 200 SMA "brushes by" price ie 200 SMA in vicinity of ML Set Point 3.

Al Kamego

i just wanted to get from a to b....

nice trip from a to b too

So, is the backtest around 47-50 next? There are some nice lower timeframe levels around 40-42 and 43-45, and then the breakdown area from that range top mess we came down from, around 47-50. I think it will get in there very, very soon. At least, I know it wants that real bad. Tomorrow is the 'big day' for Euro news. How many trillion will they print?

And, drum roll please... right into the after-market close they hit... wait for it... oh, the suspense... 54.75. How did he know this? How??? Get serious, how is this possible?

Originally posted by jimkane

Now 54 and change in the after-market???