JI
jimkane
Rep: 3,058
Posts: 33,089
Jim must be very, very happy, because the futures opened... down. Just three points now from the low for the entire move down. Can't imagine they won't try for that. It should bring on a nice flush down, but nowadays they may defend it, or guard against a big stop run, who knows. I still think they may gun this up at some point, but maybe not. I just know I'm not marrying any positions the way they like to come in.
JI
jimkane
Rep: 3,058
Posts: 33,089
Oops, I was off by quite a bit. After a little bounce up off 21.00, it 'retested' the area by one tick, hitting 20.75, before going up 19 points in a 5-wave sequence with two great ABCD's in 'W2' and 'W4'. I hate it when I miss pinpointing a reversal by an entire tick. I need to get my accuracy down better. Not bad, though, for a WAG, huh? I wonder how he knew that? BTW, take a look at the time stamp on that post and look at your 1-min chart. Keep in mind, too, that I had to type that post and proofread it before it time stamped and posted. Not bad...
Posted-05/16/2012 : 02:30:04
Originally posted by jimkane
I'm going to go way out on a limb and make a WAG, and say that that low there at 21.00 was it, the 'big bounce' is now going to start. Understand, I'm just playing around here, having fun, and posting this because under 'normal' circumstances this thing would be bouncing right here, and bouncing big.
JI
jimkane
Rep: 3,058
Posts: 33,089
How did he know that? 29.50, dead on. The question is rhetorical. I'm trying to get people to think about what tools, and what use of the tools, told me that area was a spot to watch.
AL
albert
Rep: 99
Posts: 3,094
Kane Flat ABCD completing at 0.382 fibo. I think Jim is smiling even more than before!
Al Kamego
Al Kamego
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JI
jimkane
Rep: 3,058
Posts: 33,089
That 15-min 3D today was something. But, it looks like it wants to 'retest' it, perhaps at the GZ, or fail. The main thing that bothers me is that every last person has called today 'the bottom', with Carl Futia head cheerleader. Okay, get ready here, starting right at this 10.75 (the start of the GZ). Now wee see.