No charts. Just opening a new topic.

Ruh-roh...

Does this want that low 70's area? 'They' know if they let it go here there could be trouble. 'They' usually respond to areas that could lead to trouble.

This pretty much sums up our country and our world now. Worship at the alter of technology that is imprisoning you while you argue that it's not. Wake up, people. When will you see it, when you all have computer implants for phone, surfing, entertainment, etc.? It's all coming soon...

http://www.flickr.com/photos/expd/9482378591/lightbox/

http://www.zerohedge.com/contributed/2013-08-14/go-ogle-porn

This is setting up for a nice V tomorrow. Down to say 70-72, then straight up to the upper 80's in a moonshot. Hopefully, since that should be some easy trading.

There is an increasing possibility that this may test the higher timeframe range and instead of just a stop run, it may move down to 'the measured objective'. This would be the KZ off the Jun low, as seen on the daily or 240-min all-sessions chart. This would be considered a huge move down, and only to the very first area of the smallest degree on the higher timeframes. This is how pathetic this market has become. But this is acting like it may be thinking about that, hard as it seems to believe. Anyway, do the work, the area is in the 40's.

rat,

Congratulations on your Apple trade.

Al Kamego

So, I'm quite envious of roofer because he has skills I simply don't possess. He can find these trades over and over that are not ugly at all, go perfectly line to line, have outrageous reward/risk, and so on. I am just not capable of that. So, I do the best I can with the skills I have. I battle the 'ugly' every day. Like I said, I've tried roofer's way many times, but it simply doesn't work for me. Hence, I do what I do best, the KT methodology. The 'deal with the ugly' methodology. I just don't know any better (or simply can't do what roofer does).

I think nobody can do what he does (except him of course). I wish I could see this all in real time. But I know for the fact that most professional traders manage risk first of all and that your method Jim fits pro's style very well. So when we do not see all of this geometry beauty we have to stay in 'ugly world' of trading where the best traders are 95% of the time. Risk management is the priority for the rest of us not capable seeing all of this beauty.

Thanks again for the great work.

Well, I think what I wanted to point out, and I think maybe it is being understood, is that roofer is unique and extraordinarily skilled. What he does can't really be duplicated. So, his work can be used to understand some concepts, to get some ideas to work on and incorporate into one's 'Trading Plan', but from my point of view, that's it.

Anyone who thinks they are going to be able to hit trades like roofer points out, well, good luck on that, but you better be good at handling disappointment. Look, you are looking at a guy with maybe forty or more years experience, who came from a family where his mother was a trader, and his natural talents are likely somewhere on par with Tiger Woods or Michael Jordan. And he paid his dues and came all the way up in those forty years.

So, what he does with these endless monster trades one after another, well, it's incredible, impressive, far beyond anything I could ever do (like watching Michael Jordan when he used to slam dunk from behind the free throw line), but you and I, we won't be doing that any time soon. So, study those charts, continue to learn from them, but then come back to the real world that the rest of us must live in. Work and study hard, and set realistic goals. Accept the ugly, embrace it, and find a plan that works for you. Understand?

ES reopens and is dropping like a rock. Sure looks like it wants that 70-72 area.

Let's see if the ES respects the priceflow in here at 77. If the 'bulls' have any juice this should be it. If they really want to shake 'em out, 70-72. If that goes, then, as I said, that 40's area is where I'm looking.

Thanks Jim and thank you for the offer. Please leave my latest posting in the main discussion threat, where it is. The chart seemed worthy of comment at the time I looked at it, but now, not so much. It probably points out that I need to follow price action on the 15 minute and higher timeframes more, in order to see more, as you have pointed out in your books. As usual, the Kane ABCD covered the price action beautifully.

Al Kamego