Just over 21 hours and change... I can't wait.

BTW, if this really sells I have a key area down in the low to mid 1290's. I'm mentioning this just in case... There is also an area on the way down in the say 1305 area, I'm too tired to pin it down more, do your own work on that one.

Originally posted by jimkane

The bottom line for me is anywhere from here to up to 35 and layers and layers of things come in that could send this back down. My non-trading gut say 'up, up, up'. This is a red flag for me. When I think like a Joe Average I feel this can only go one way right now, and that way it 'up'. Technically it hit the key area today, with a 3D and a reaction. But, alas, it looks too nice. It may drive up for another push, invalidating the immediate area (which comes from the short-term price action), but hitting the higher level aspects fully, like I said, up to about 35 and the premise is still intact.

This area is not for immediate very short-term trading against, since, being a higher timeframe area, the noise level is too high for a small point move trade directly off of it. It needs time to trigger, in case the intent is just straight up. The very short-term setups come from the bias and the setups down on say a 3-min chart. I hope this makes sense. I'm trying to explain as best as I can the way things are stacking up here, and how I'm looking at it in such a potentially key area.

Jim,

I appreciate your comments regarding trade entries. Thanks.

Al Kamego

so price came to rest in an interesting spot into the eu meeting....at the double .486

is it vaguely possible that now it's all about time? that time passes until price meets the x and gets sent down to the 124 area?

as i said... it was a PERFECT kane setup with a 3 in 4 chance of a new low...

http://stockcharts.com/h-sc/ui?s=SLV&p=D&yr=1&mn=1&dy=0&id=p02414027213&a=171433606&r=1340898161199&cmd=print

I dont know if Jim would allow this ABCD to be called a proper Kane EXP ABCD, since Point D was only one tick above Point B. ABCD completed in Kane Zone and had nice follow thru.

Good Trading,

Al Kamego

Yes, Al, I see that as an ABCD.

Originally posted by jimkane

Yes, Al, I see that as an ABCD.

Thanks, Jim.

Al Kamego

One thing I have noticed just recently is that essentially every 'hot' stock I watch has rolled over. This is very significant, as I have been watching for that as a big clue that finally this thing is likely going to drop. Look at CMG and AZO, for examples, and also PCLN. I think the clues are really lining up that we may get our election plan leg down after all. Just when the adamant 'bulls' are screaming bloody murder for the upside right now. And trust me, they are screaming...

Watch this GZ here that is producing a big snap reaction. It may be done for today, very near the area I mentioned late last night. I think it needs to go down more, but perhaps it has to bounce a bit. I just don't like GZ bounces in situations like this because, in my experience, they rarely lead to bounce and rolls, they mostly lead to reversals or bigger bounces than I want. It's where the slippery eels come in.