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jimkane
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Posts: 33,089
I'll kick it off this week. Here's a good article. We'll look back and laugh some day at all this. In case some of you don't get the reference (I don't want to make anyone feel bad, but if you are a trader and don't know this reference, you should be ashamed of yourself (as my mom used to say when I was a kid)), I posted a second link. Read the start of the third paragraph.

http://www.oftwominds.com/blogsept14/perm-plateau9-14.html

http://en.wikipedia.org/wiki/Irving_Fisher
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jimkane
Rep: 3,058
Posts: 33,089
And out of the range it comes. Sweep down, now what?
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jimkane
Rep: 3,058
Posts: 33,089
Now sweep up?
JI
jimkane
Rep: 3,058
Posts: 33,089
This thing is just dead in here. If it doesn't pick up shortly I'm done for the night.
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jimkane
Rep: 3,058
Posts: 33,089
Watch that Jan low in crude, and how it reacts when it gets swept fully.
RA
rat89
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Posts: 7,015
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JI
jimkane
Rep: 3,058
Posts: 33,089
Nice charts, rat.
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jimkane
Rep: 3,058
Posts: 33,089
They swept it fully, and then what? Up over $3 in a strong, linear frenzy trend. Doesn't get any better than this. See why I made this comment now? I mean, how often do I mention crude, or some other issue, nowadays?

Originally posted by jimkane

Watch that Jan low in crude, and how it reacts when it gets swept fully.
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jimkane
Rep: 3,058
Posts: 33,089
Oh, yeah, with an ABCD in the middle.
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jimkane
Rep: 3,058
Posts: 33,089
JI
jimkane
Rep: 3,058
Posts: 33,089
It makes me think about near the end of the movie Trading Places, where he yells "Get those brokers back in here! Turn those machines back on! Turn those machines back on!" to the echo of the empty pits behind him.
JI
jimkane
Rep: 3,058
Posts: 33,089
The fascinating thins is, they swept it down, then up, then hit it down, the same exact pattern they have been doing, where the first move is the direction, then the trap the other way, to get both sides, then the real move. I had the timing, and I had the pattern. I didn't have the 'context', in that, like rat, I was thinking up was more likely. But, there is redemption in here, in that as soon as I saw the sweep on the other side fade I was able to recognize the game, as I've highlighted so many times in here lately, and realize what was likely unfolding.