Since Jim is likely to have trouble typing after having landscaped cement all weekend, I will get things started.

Thanks. Like I said, it's all about the games. That old poker saying is a key concept for me: 'In the first twenty minutes at the table, if you don't know who the sucker is, it's you.' To me, it's the same with the market. How can anyone expect to trade and not know who the suckers are? How the game is played? They just say 'My plan works, I'm fine'. Yeah, right, that will keep working over time. Know thine enemy.

Originally posted by MarcinO

What a read!
They eventually got stops above the line discussed yesterday.

Originally posted by jimkane

It's something how they swept it down, huh? Just like I said on the timing factor, right on schedule. You aren't thinking sweep up now, maybe even a move up?

Interesting:

http://www.zerohedge.com/news/2014-08-27/30y-treasury-yield-plunges-fresh-15-month-lows

This is the type of thing I'm always on the look out for, and keep a close on eye whatever it is 'they' are doing. It took them a little while longer today, but it was, indeed, day four.

http://www.zerohedge.com/news/2014-08-27/european-close-trade

This is one I think everyone should read. Note that the article was done in March. It said the pattern hits the market in June-July. We are now getting ready to enter Sept. That means either this thing is completely done, stretched, ready to implode, or the pattern is not going to happen this time. Note that the example given it PCLN, before it played out, was the top so far, and did lead to about a 21% decline at the low, and the market hasn't started to drop yet.

Now, also, imagine if this pattern doesn't hold, what that says, and what it says about the fall when it eventually comes. I guess the problem is, say it reaches 3000 or 3400, and then falls a whopping 40% (yeah, this market will ever fall 40%...), using 3400, it would then be at 2040! Higher than it is now! We might get a 'market collapse' and wind up higher than we are now. Frickin' pathetic.

http://www.safehaven.com/article/33230/the-64-month-bubble-pattern

Amazing how this has turned down yet again at 'price flow', but will it sustain? I seriously doubt it. Time for an 'upside breakout'?

If you're into this economic stuff I like to post, this is a good read. I concluded all this stuff years ago. It's good to see a few others also get it. Not that anything will stop all this...

http://market-ticker.org/akcs-www?post=229346

So, anyway, here's the play. After having come back yet once more to 'price flow', the timing factor I speak of frequently in here said it was time, and it then broke to the upside. Like with the cable we were looking at recently, I figured that was the 'sweep up', to be followed by a 'sweep down' or a down move. The play was to short it right as the pop momentum died.

Management is structured based on the idea that after an initial move it must differentiate itself between a sweep down and a down move. If it's the first, the trade would be closed, hopefully not too far from break even. If not, then typical management is initiated based on the expected most likely move. Pretty standard stuff. The cool part is the play off the expected sweep. In cable, it was (initially) only a sweep the other way. Sometimes it gives it to you, sometimes it doesn't. That's trading. It's all about management.

I'm watching 94, and then those two swing lows to the left. I'd like to say if they go watch out, but we all know they can go, there can be nothing but air underneath, and 'magically' it rises.

Watch the obvious TL here at 95.25, everybody else is...

My mentor students (and very astute book readers) should know why this TL here is of particular significance. There is a set line of great importance right here, too.

That pop in cable towards the close was really something.