User [gary fullett /171.222.77.62] joined forum at Tue Mar 21 20:55:59 EST 2000
<gary fullett> hello peggy
<Peggy> hi gary. I was just cleaning up the logs for myself
User [Frank /207.230.57.25] joined forum at Tue Mar 21 20:59:27 EST 2000
<Peggy> had a question today on options.
<Peggy> hi frank
<gary fullett> hi frank 
<Peggy> in purchasing options can I purchase a call and a call, or a put and a put,
<gary fullett> okay peggy
<Peggy> I don't just have to make to a call and a put do I
<Frank> hi peggy, gary
<gary fullett> yes you can buy differnet calls
<gary fullett> you can buy a call at differnet strike prices
<Frank> differnet sounds so electronic
<gary fullett> do you have an example in mind?
<Peggy> I was looking at Dec live cattle on some of the sites\
<Peggy> mentioned last night. That Bohl was great
<Peggy> Amos helped greatly the last few days encouraging us
<gary fullett> bohl has a good site
<Peggy> to look at long term charts. 
<Peggy> Seemed to me Dec live cattle is in a trading range,
<gary fullett> what do you mean peggy?
<Peggy> until I looked at the continuous chart in which
<gary fullett> oh long term charts are important
<Peggy> it has broken resistance
<gary fullett> the reason i dont go over them alot
User [lmarsh /12.14.197.197] joined forum at Tue Mar 21 21:02:32 EST 2000
<gary fullett> is becausue you need a decent size account
User [chris /63.14.212.152] joined forum at Tue Mar 21 21:02:33 EST 2000
<gary fullett> to trade longer term
User [amos /62.0.146.96] joined forum at Tue Mar 21 21:02:39 EST 2000
<Peggy> I was not going to trade Dec live cattle, just
<lmarsh> hello 
<gary fullett> hello chris and amos
<Peggy> thought I would Amos' advice to look them over. It was
<gary fullett> cttle is a good market
<Peggy> good to see what and where they were
<gary fullett> amos has good sound advice...
<amos> Pax Vobiscum
<Peggy> Hello Amos, lmarsh
<chris> <Enter Text Here>hello everyone
<Peggy> latin, but what does it mean
<amos> Shulem Aleichem
<gary fullett> look at monthly weeklies and dailes
<Peggy> You are a very intelligent and learned fellow, Amos!!!
<lmarsh> what's that mean??
<gary fullett> peace to you as well my brother
<gary fullett> it means Peact to you " Frank
<amos> Pax=Peace; The rest= with you
<gary fullett> Peace
<amos> I am in a Papal mood, tired and frail
<gary fullett> amos just had dinner with the pope
<Peggy> I learned something new today. 
<gary fullett> what is that peggy?
<Peggy> Wasn't Friday, so what did you have for dinner with him???
<lmarsh> :)
<gary fullett> sal is ill today so we need to have a good class in her honor
<Peggy> the latin, gary. I learned something new.
<gary fullett> okay.. good it is good to learn
<gary fullett> okay any questions?
<amos> This is why we are here for--to teach Latin
<Peggy> I knew that!!
<gary fullett> amos how is your latin?
<amos> not good
<gary fullett> okay
<gary fullett> are there any questions
<Peggy> got the little spread book Kelly sent. There are a bazillion types of spreads
<lmarsh> saw gold had a good day,...
<gary fullett> ys peggy
<Peggy> Can I buy a Q please?
<gary fullett> I am putting the spreads on the site within 2 weeks
<gary fullett> yes peggy
<gary fullett> you have 3 lifelines
User [eric /206.98.11.161] joined forum at Tue Mar 21 21:08:39 EST 2000
<Peggy> I have a 380 June gold call. 
<gary fullett> welcome eric
<Peggy> How do I roll it over and what does it cost?
<gary fullett> okay
<gary fullett> you roll it over by selling the call you own and buying
<eric> good evening all
<gary fullett> a furhter call 
<Peggy> or is it worth it
<gary fullett> like an October
<lmarsh> hey eric
<gary fullett> it will cost as a new trade 
<gary fullett> another commission
<Peggy> that's reasonable
<gary fullett> so you buy the strike price you want
<gary fullett> call your broker and place the trade
<Peggy> so am I actually liquidating my June call
<gary fullett> I am sure he can help you with strike prices
<gary fullett> ad cost
User [davep /24.147.119.114] joined forum at Tue Mar 21 21:10:22 EST 2000
<gary fullett> yes sell the june before the 30 day window and buy a furhter out call
<gary fullett> if you are still bullish gold
<gary fullett> hi davep
<davep> hi Gary . . .& everyone<Enter Text Here>
<Peggy> hi, dave and eric
<davep> Hi Peggy
<gary fullett> roll over means that you liquidate your present position and buy another month further out
<gary fullett> so you dont get delievered on
<gary fullett> or have to make delievery
<gary fullett> or the contract expires
<gary fullett> okay peggy?
<Peggy> k
<gary fullett> any other questions?
<gary fullett> I hope that helps.
<gary fullett> I want to talk about the importantance
<gary fullett> of market support and resiatnce
<gary fullett> and retests
<gary fullett> of markets
<gary fullett> tomorrow I will be going over weeklies and some monthlies
<gary fullett> we will be watching the grains metals bonds crb closely over the next few months
<gary fullett> by the way before I forget 
<gary fullett> the dow is 800 points from an alltime high
<gary fullett> but the s and P went to contract high today
User [fibo /204.119.225.199] joined forum at Tue Mar 21 21:14:29 EST 2000
<lmarsh> that's good , but boy ain't it crazy?
<fibo> hello everyone
<davep> hi fibo
<gary fullett> I want to talk grains first since fibo just came in
<lmarsh> hi fibo
<gary fullett> yes lamrsh
<gary fullett> since fibo helps us with grains
<Frank> 
<gary fullett> i think it is good to start there
<gary fullett> lets take the daily may beans
<gary fullett> amos mentioned the weekly and monthly on grains over the past week
User [sherri /207.112.162.168] joined forum at Tue Mar 21 21:16:04 EST 2000
<fibo> hi sherri
<gary fullett> I want to chat on the daily
<gary fullett> welcome sherri
<sherri> hi folks
<Peggy> hi Sherri, Fibo
<gary fullett> over the last month we have been talking about beans
<gary fullett> we mentioend that 506 was support
<gary fullett> and ressiatnce was 515 reemeber?
<lmarsh> y
<Peggy> y
<gary fullett> then the market broke above 516
<fibo> y
<gary fullett> nd staled at 520 area
<gary fullett> so 515 was support
<gary fullett> once the market went above 523 area
<gary fullett> this became support 
<gary fullett> with me so far
<lmarsh> y
<sherri> y
<gary fullett> this should all be review
<gary fullett> but what did fibo and amos ( and I say)
<gary fullett> when the market was at about the 506-510 area
<gary fullett> on that break that day
<lmarsh> buy!
<gary fullett> it was said that demand was evident
<gary fullett> and that if it is demand the market should work higher
<gary fullett> and by watching
<gary fullett> market behavior we were rewrded
<eric> 
<gary fullett> so as aos has said we talk the market
<gary fullett> look at its pieces
<gary fullett> and make a decsion with a stop loss
<gary fullett> if we lose money 
<gary fullett> even though it is the right trade
<gary fullett> it should be bought
<gary fullett> okay so far
<Peggy> y
<lmarsh> y
<davep> y
<gary fullett> great
<sherri> y
<fibo> y
<gary fullett> what was the high last week in Jan or so?
<lmarsh> 538
<chris> y
<fibo> 538.50
<gary fullett> correct
<gary fullett> so we know if we are long
<gary fullett> at 538 we should liquidate some longs at ressiatnce
<gary fullett> right?
<lmarsh> correct
<fibo> y
<gary fullett> or should we sit thru the expected correction?
<lmarsh> no, take profit,,..
<gary fullett> I have a question
<gary fullett> last friday the market went to the high of the move right?
<Peggy> y
<gary fullett> and closed near the high
<gary fullett> both on the weekly and the daily right
<gary fullett> ?
<sherri> y
<eric> y
<lmarsh> yes
<chris> y
<gary fullett> both of those charts look good last friday right
<gary fullett> why get out at all?
<Peggy> I'm basically a coward, for starters
<gary fullett> any aswers?
<eric> spead between bean meal and bean oil gives a warning
<lmarsh> would the resistance on both daily & weekly have been good reason, to have close stop/ exit trade
<gary fullett> yes it did eric
<gary fullett> that is why i watch spreads
<fibo> i took profits and waited for the pull
<gary fullett> the reasn is becasue 538 beans is RESISTANCE
<gary fullett> you must think like a professional trader
<gary fullett> what do a professional trader do
<gary fullett> he BUYS SUPPORT SELLS RESISTANCE
<gary fullett> and sometimes buy strenghth and sells weakness
User [amos /62.0.146.96] joined forum at Tue Mar 21 21:27:35 EST 2000
<gary fullett> even thought the market looks strong
<gary fullett> sell resistance
<gary fullett> you can ALWAYS get back in
<gary fullett> this commodity trading is a game of risk to reward
<gary fullett> if the risk is greatre than the reward
<gary fullett> you NEED to get out......
<gary fullett> and wait
<gary fullett> Capitail preservation
<gary fullett> risk to reward trades are key to sucess
<gary fullett> what is the reward of the beans at 538?
<gary fullett> yu need to look at th weekly on that
<gary fullett> but we know what the risk is dont we?
<gary fullett> it is back to the support
<gary fullett> at what level is that?
<Peggy> 524
<gary fullett> 523 right
<lmarsh> 506 area
<davep> 506
<Peggy> or also 506?
<gary fullett> so one could have sold at 538 resistance
<lmarsh> correction 520
<gary fullett> and bought at 523
<gary fullett> 14 censt
<gary fullett> or 700 differnece
<chris> 523
<gary fullett> what was the low today?
<gary fullett> can u see me?
<gary fullett> 522 ans 1/2
<gary fullett> 522 1/2
<gary fullett> was the low right to support
<Frank> 
<Frank> 
<Frank> 
<Frank> 
<Frank> 
<Frank> 
<Frank> 
<gary fullett> the point I am trying to make
<gary fullett> is that if you sell resistance
<gary fullett> or a reteset of resistance
<gary fullett> it is a good strategy to follow
<gary fullett> you can always buy back at support
<lmarsh> froze for a moment
<gary fullett> and if the market rallies above reiestace you 
<gary fullett> can buy
<gary fullett> and place as top under supprt
<eric> 
<gary fullett> stop
<gary fullett> s buying retest of support is important
<gary fullett> selling retests of ressiatnce is just as good
<gary fullett> youi can always reeneter the market
<fibo> 
<gary fullett> questions?
<gary fullett> do you all see the points I mentioned?
User [jim /152.202.27.21] joined forum at Tue Mar 21 21:34:19 EST 2000
<sherri> y
<lmarsh> yes
<fibo> y
<jim> hi, all.
<fibo> hi jim
<lmarsh> jim
<gary fullett> hello Jim
<jim> hi
<sherri> hi jim
<Peggy> y -- hi Jim
<gary fullett> questions?
<chris> y
<davep> hi jim
<gary fullett> does everyne undersatnd?
<Peggy> Can I buy a Q, please
<gary fullett> yes maam
<Peggy> would you just have anticipated that a retest would be at
<Peggy> 538
<gary fullett> they are free tonight
<gary fullett> yes of course
<Peggy> cuz, if i waited til yesterday it was too late
<gary fullett> we mentioned that point last wee before it went to 538 on Friday
<gary fullett> have your oder placed in adavence if you cant watch it
<gary fullett> and today sgould have been bought at 523 area?
<Peggy> with a stop where?
<Peggy> above yesterdayL
<gary fullett> lt me ask the question where if anyone bought today should be the stop?
<eric> 516
<lmarsh> 520
<gary fullett> the ideal stop would be under last weeks
<gary fullett> low
<fibo> below the 520 hi
<gary fullett> under that trendline
<gary fullett> under 508
<gary fullett> but that is alot right
<gary fullett> so the next place is under 515 area
<lmarsh> y
<gary fullett> if you didnt want to risk to 508
<gary fullett> so eric is closer
<gary fullett> lmarsh stop isnt bad either short term
<gary fullett> though if you bought at 523
<gary fullett> an risked to 520 ht is only 150 dollars pretty good if you an get away with it
<lmarsh> understand, 
<gary fullett> do u see the trendline I drew>?
<lmarsh> y
<amos> Gary, I do not remember you saying last nite to buy beans at 523
<gary fullett> I didnt say that
<gary fullett> but we talked about resiantance on the move up
<amos> So Why assume that any one bought there?
<gary fullett> at 515-516 area
<amos> OK, then we are still waiting to buy at 516
<gary fullett> then we talked about the 520 -523 being resistance
<gary fullett> then we talked about 538 reisisatnce
<gary fullett> right
<gary fullett> so the first support
<amos> Gary, I think we are smart enough and we know markets well enough not
<gary fullett> from the reaction from 538 is the 523 level
<amos> to deal with would coulca shoulda that all died when did not was born
<gary fullett> reistsnace when breached now becomes support
<gary fullett> I am talking support and resisatnce
<gary fullett> everyones comfort zone is differnet
<gary fullett> a large account can buy the first support
<gary fullett> if bullish
<gary fullett> since 523 was resiatnce o the move up
<gary fullett> it is support now correct?
<lmarsh> y
<gary fullett> yes you should ahve a buy as well at 515 area
<gary fullett> and stop under the trend line
<gary fullett> if the risk at 523 area
<gary fullett> is too much one musr waut
<gary fullett> for better prices
<gary fullett> if prices dont come lower
<gary fullett> then buy strenghth
<gary fullett> with a smaller risk
<gary fullett> I want to say something that I feel important
<gary fullett> look when the market went to 538 in late Jan
<gary fullett> see this?
<amos> y
<lmarsh> k
<fibo> y
<davep> y
<gary fullett> where did the market break to after this high?
<fibo> 504
<gary fullett> right
<lmarsh> 507
<gary fullett> does everyone see this>?
<chris> y
<amos> y
<lmarsh> 504 correct
<gary fullett> I think 507 is closer
<amos> 504
<amos> in may
<gary fullett> nope 504
<gary fullett> i so how many cents is that break?
<gary fullett> 34 right?
<amos> fibo!!
<eric> y
<gary fullett> 538-504
<gary fullett> right?
<gary fullett> see this?
<fibo> yes it was
<gary fullett> then where did the rally go to?
<gary fullett> 530 right?
<fibo> 529
<gary fullett> later feb
<gary fullett> okay 529 better yet
<gary fullett> where did the next break take you down too?
<fibo> 500.50
<gary fullett> okay thank u
<gary fullett> 529 - 500 lets say
<gary fullett> is how amny cents?
<gary fullett> many
<gary fullett> 29 right?
<Peggy> 29
<fibo> y
<gary fullett> great
<gary fullett> so this break wasnt as sever right
<lmarsh> $1450
<gary fullett> severe
<gary fullett> so the market seems
<gary fullett> when it breaks
<gary fullett> not to break as hard
<gary fullett> this to me means that demand
<gary fullett> is enetering the market
<jim> note for 8 weeks... inc price accompnaied by inc vol... drop in price accomp by dec vol.....
<gary fullett> so one would expect
<gary fullett> that the break from the last 538 would be less than 29 cents
<sherri> 
<amos> less than 29 is 28
<gary fullett> by watching market action
<jim> on the other hand, they were lower lows and lower highs.....
<gary fullett> if the breaks arent a deep that means to me demand
<gary fullett> is buying on these pullbacks
<gary fullett> yes Jim but we did go above 530
<gary fullett> so it appears that the market has develpoed
<amos> NO, NO, one minute, let me correct jim, please
<gary fullett> a trading range from 538
<gary fullett> to the 506 area
<gary fullett> please do amos
<jim> how significant is the resistance at 538?
<amos> This discussion is wonderful. It harbors one of Wyckoff's secrets that I shall elaborate
<gary fullett> it is the retest of daily ressiatnce
<amos> laster--it is the subject of the shortening of the upward/downward thrust
<amos> but what jim just said is a misnomer!!!!!
<amos> When you are in a coorective phase within a large range--when you are IN THE MIDDLE
<lmarsh> 
<gary fullett> can you elaborate a bit here amos
<amos> of a TRADING RANGE l ike we are
<davep> 
<amos> now in the beanse in a range between 460 and 538 --the rally
<amos> from dec/99 and jan/2000
<amos> then lower lows and highs do non mean anything. You are in teh middle
<amos> of a rrange. Your LOK is 0 and the move can be totally random.
<jim> thanks.
<amos> It is very crucial to relate to lower lows, igher highs higher highs, but you must
<amos> define you space first.
<amos> I shall repeat. If you know that hyou are in a large range--then the small rallies
<amos> and reactions can have a randomness to them.
<amos> This is why the large
<amos> chart has to direct you. Unfortunately, according to Wyckoff-- you always have
<amos> to define and redifine you spaces. Your market definitions.
<amos> So using the same terminology in the wrong space (or room as I used to call it) can mislead you.
<amos> I hope I am celar.
<amos> clea
<amos> rclear offffff
<amos> clear
<jim> y
<amos> This is terrible when you cannot even type the word clear
<lmarsh> :) yes
<fibo> y
<fibo> lol
<gary fullett> you type like me
<davep> 
<amos> Please continue Gary, But I would like to elaborate further on the concept you started
<gary fullett> thank you amos
<sherri> 
<eric> 
<gary fullett> shortening of the thrust
<gary fullett> I ahvent gone over in detail in class
<gary fullett> I think one of the most important things to remeber
<gary fullett> is to try to identify
<gary fullett> an upward trend
<gary fullett> or downward
<gary fullett> trned
<gary fullett> is it accumaltion or distribution
<gary fullett> I believe that the grains are longer term up
<gary fullett> so I am using the pullbacks to support to buy
<fibo> y
<gary fullett> it appears when the market breaks it is well support
<gary fullett> ed..
<gary fullett> so I will buy at the first stop with an approapite stop
<gary fullett> if I am wrong and stopped out I will buy the next support
<gary fullett> if the market action warrnats it
<gary fullett> your first los is you best loss
<gary fullett> so if you do the proper trade
<gary fullett> with a stop
<gary fullett> and it loses money that okay
<gary fullett> if you do the right trade and lose money that is okay
<gary fullett> becasue the more you do proper trades in the long
<gary fullett> you will be sucessful
<jim> have we established that the daily, weekly, and monthly trends have all turned up?
<gary fullett> the dailies have turned up
<gary fullett> I will let aos address the weekly and monthlies
<gary fullett> amos
<sherri> 
<gary fullett> amos can you address the weekly and monthly
<lmarsh> 
<chris> 
<gary fullett> for a moment?
<jim> we do have higher highs and higher lows.....
<amos> The address is P.O.Box 49805
<gary fullett> :)
<fibo> lol
<lmarsh> lol
<gary fullett> is that where the checks go lol :)
<amos> The monthly beans has on the individual montlly chart (which I hate) one high
<amos> at 5.40 that we have to penetrate. The weekly is showing higher highs but without ooomph
<amos> so the picture is still somewhat murky.
<amos> I would say that April will be the truth teller.
<Peggy> 
<jim> thanks.
<fibo> amos which weekly do you like better ..the weekly continuation?
<fibo> or the individual weekly
<amos> Fibo there is only one correct chart and that is the continuation chart.
<fibo> glad you said that :-)
<amos> Now how you concatenate succesive months is a little tricky.
<amos> There are two general ways--the expiration method and the first notice method
<Peggy> what does that word mean, Amos?\
<amos> you have to look at both , in my opinion
<Peggy> concatenate
<sherri> 
<amos> tie toegether
<Peggy> k
<fibo> we use expiration method
<amos> i suggeest you always compare the expiration with the first notice--there are
<amos> times that the truth hides in one of the other.
<amos> This is why chart reading is so trickty--while most people think that
<amos> it is looking at starnge lines. It is a very clever scienjce/art to read charts correctly
<amos> but I can assure you that the CM is communicating thru them
<fibo> we keep cash weeklys also
<amos> cash with high and low?
<fibo> yes
<amos> That is FANTASTIC!!!!
<fibo> and we put the volume on the cash charts too..makes a better picture
<amos> fibo, what are you8 doing here? you should be in Luzan?
<fibo> just trying to learn more amos
<jim> amos, do you know if Genesis data service does continuous charts correctly?
<gary fullett> cash with volume is wonderful..
<amos> I am not familiar with them, However Exodus and Numbers-- they are something
<gary fullett> lol
<fibo> lol
<Peggy> I like Leviticus, myself
<gary fullett> Not Deuteronomy?
<amos> Peggy that is almost latin
<Peggy> :)
<gary fullett> levitus is a cousin of amos
<lmarsh> :)
<Peggy> you are better, thou
<Peggy> tho
<amos> Just older
<sherri> 
<gary fullett> yikes a little humor
<gary fullett> I like that
<gary fullett> it is election night in Chicago so there is lots of humor here
<Peggy> is Oprah running for anything???
<gary fullett> everyone votes 3 times today
<amos> However, jim I would like you very much to contact them and find out how they
<amos> do their continuation charts
<gary fullett> yes to Mcdonalds
<davep> 
<jim> i will do that.
<eric> 
<gary fullett> she has gained lots of weight
<fibo> lol@gary
<Peggy> :)
<amos> We never got to this--but the issue of how you construct your long term charts
<gary fullett> so we exhausted daily beans
<gary fullett> any questions there?
<amos> is very important. Most people do not pay any attention to this
<jim> one question..
<gary fullett> please Jim
<jim> buy supports and buy upthrusts.... which one?
<amos> arer you Steinhartdt or Paul Tudor Jones?
<jim> know neither.
<amos> Too bad.
<sherri> 
<jim> is there an answer?
<amos> One is a 1% breakout above established ranges guy the other is bottoom and top picker.
<amos> Both are worth several billions
<gary fullett> prefer to buy support
<jim> thanks.
<gary fullett> which is whom please amos for class
<gary fullett> so everyone knows
<amos> Do you really bvelieve that a system can make you money?
<amos> I always say that a system cannot make you money. Take 2 F-16 and put
<amos> two pilots in them. One is Tom Cruise from "Top Gun". Tom will win
<sherri> 
<Peggy> 
<lmarsh> 
<gary fullett> amos can you mention to class hich man buys support 
<fibo> 
<gary fullett> and whichone buys new highs
<gary fullett> or sells new lows
<amos> Gary likes to buy support. I use to do it for a long time and then I realized that
<amos> I recognize support and resistance way to early and it cost me too much money.
<amos> So I switched to waiting for a confirmation signal. I mention here the thrust method
<amos> all the time. It gives my SOUL some solace.
<amos> You must understand that as Ed Seykotta said: YOu must choose the system that your soul
<amos> can live with.
<gary fullett> amos I have a question
<amos> Tudor jones was more a support and resistance guy. BLT
<amos> .
<gary fullett> that is correct
<gary fullett> about tudor jones
<jim> why did you not identify resistance and support on larger time scale at that time?
<amos> But steinhardt is happier and fatter
<gary fullett> if you get a confirmation signal will you buy support after confirmation
<amos> Because I am a schmuck
<amos> because I have not met you at the time, jim. These are good questions.
<jim> thanks
<amos> The point I am trying to make is that once you understand how the plane
<eric> 
<amos> opearate and you learn to fly--you choose, you gravitate to the style that is
User [chris /63.14.212.152] joined forum at Tue Mar 21 22:26:58 EST 2000
<davep> 
<amos> more comfortable for you.
<fibo> hi chris
<jim> thanks.
<amos> All we can do here is teach you to fly an F-16 or F-22
<chris> hi fibo-got bumped out
<amos> A word about quarterly charts ok?
<gary fullett> there are many ways to profit in markets
<gary fullett> okay amos please.
<amos> please look at the quarterly charts of the equity markets.
<sherri> 
<amos> Gary mentioned that S ans P made new highw, THe actual hight was 1514.50
<amos> a while ago and we are at potential double top.
<amos> The dow broke a mnthly low and we are approaching the close of march.
<amos> It is w
<amos> "Window dressing time" (sorry for the fundamental info)
<amos> But the way we close the quarterly chart can tell a lot about the rest of the year.
<amos> I have no idea whjere we will be on 3.31.00
<gary fullett> you dont? :)
<amos> Bu if we closse somewhere in the middle in the Nasdaq and the Dow--that will mean
<amos> the following:
<amos> It will mean that over the last three months the forces of supply and demand have
<amos> somewhat equalled. The trend is still very much up--but, as Jesse, used to say
<amos> the horsemen of supply are starting to show up.
<amos> This information can be very valuable in the next 9 months.
<amos> If this is vague, it is because I am trying to emulate Nostradamus.
<fibo> lol!
<lmarsh> doing a good job,,,,,lol
<gary fullett> lol
<amos> Most poeple do not bother to look at the quarterly, Around end of March it
<Peggy> lol
<amos> is very good thing to do--on Alll Commodities as well.
<gary fullett> amos can you look at volume in the stock market as the same like commodities
<amos> YES
<davep> 
<gary fullett> I mean the NYSE volume as a whole
<amos> The best volume is the total NYSE volume as appears in the WSJ
<gary fullett> I know that it is mportant for indicidual stocks
<gary fullett> becaus eit seems as the amrket has gone up over the yrs volume has natually increased
<amos> Volume is always important and it is RARELY important.
<gary fullett> this increase in volume over the last few yrs
<gary fullett> isnt it because we have more stocks moreipos
<gary fullett> more ipo;s
<amos> Its the Yuppy effect
<gary fullett> so volume naturally increased
<gary fullett> it is not necessarily a BC
<gary fullett> do we need over 3 billio to reach a bc
<gary fullett> ?
<amos> we will get it
<gary fullett> i know we will
<sherri> 
<fibo> 
<gary fullett> or 4 billion ?
<lmarsh> 
<amos> Tempelton says we are going to 100,000 on the DOW
<gary fullett> yes I heard him
<gary fullett> by the way amos's sister said soenthing today
<davep> abby?
<gary fullett> she is Abby cohen of Goldman sachs
<gary fullett> yes..
<amos> what?
<amos> What did she say?
<gary fullett> she said that the s and p target is 1575 this yr
<gary fullett> I thought u dont want the news amos :)
<amos> This is only 75 points, not too good
<gary fullett> he originally target was 1525
<amos> I always read Dear Abby
<gary fullett> and that corporate profits would increase
<gary fullett> I guess nothing will kill this market
<gary fullett> they raise rates
<Peggy> God bless my 401(k)
<gary fullett> and market rallies
<gary fullett> :)
<lmarsh> :)
<fibo> :-)
<gary fullett> The stock market will be 
<davep> as soon as EVERYONE's a believer . . .
<gary fullett> a focus in april for us
<gary fullett> yep davep that is what we are all waiting for
<amos> Ya APril Showers
<Peggy> how so, Gary
<sherri> 
<gary fullett> becasue of hat amos said the quarterly numbers
<Peggy> k
<amos> Any body follows bonds here?
<gary fullett> I know I sent alot of charts today
<Peggy> a little bit
<gary fullett> and I wil discuss them tomorrow
<gary fullett> but I would like amos to discuss bonds and weekly gold
<Peggy> I would have expect the bonds to drop a bunch today, but they didn't
User [Randy /204.246.241.103] joined forum at Tue Mar 21 22:40:40 EST 2000
<gary fullett> amos can you take us thrught the stetch run
<fibo> hi Randy
<amos> There is a crucial resistance at 96-27 on june bonds. I do not remember
<Randy> hi all
<gary fullett> hi Randy
<gary fullett> payroll done lol :)
<amos> where I got this nujmber , but it is on my alert system. So watch it.
<fibo> looks like the high on Jul 20 99
<Randy> not tonight, had to show the wife how to run the computer.... SCARY!!!
<Peggy> I see 95 ish
<amos> wife or computer?
<gary fullett> lol
<Randy> little of both, LOL!
<Peggy> lol@amos
<fibo> lol
<lmarsh> good en
<gary fullett> sharp as a tack that amos boy
<amos> and tacky too
<Randy> amos, what time is it there??
<gary fullett> yes that is for sure...
<amos> 5;43
<gary fullett> time for him to meet the pope for breakfast
<davep> can i pls request an "appointment" for Amos to explain how continuation charts shud be 'concatenated'? 
<Randy> pretty good for that time of morning
<gary fullett> how about thursday davep
<gary fullett> if amos is willing
<gary fullett> amos is like that all day long
<davep> won't be able to be here Thursday, sorry.
<amos> This is a wonderful ad: Join us all Thursday for the blessing of the concatenation of
<amos> continuation charts. The Pope would like that
<gary fullett> k will will do it next week okay Davep
<davep> k thanks
<fibo> amos you are in rare form tonight (or this morning) :-)
<gary fullett> :)
<amos> medium rare
<gary fullett> he has pope on the brain
<fibo> lol
<sherri> 
<eric> 
<gary fullett> bonds amos
<amos> I do
<amos> .
<chris> 
<fibo> :-)
<Randy> did someone spike amos coffee? :)
<fibo> the pope?
<amos> Spike lee did
<Randy> it's the wine!!
<amos> It is Purim
<gary fullett> any other questions?
<fibo> yes
<gary fullett> otherwise I think we willgo over more charts tomorrow
<gary fullett> please fiibo
User [lmarsh /12.14.197.197] joined forum at Tue Mar 21 22:48:37 EST 2000
<fibo> on the may bean chart the last hour had an hourly thrust on the last hour.
<fibo> amos would you have bought that?
<amos> Yes and you should have bought it
<gary fullett> well u would ahve been 4 censts behind me :)
<fibo> i did
<amos> around 526 with a stop at 521
<gary fullett> it was a good clsoe I think we need to het above 530 again though
<fibo> o.k. thanks
<amos> I like people who lead me with 4 cents
<chris> a word on gold before we go?
<gary fullett> that was the high yesterday
<fibo> mine is at 519.75
<amos> better yet, 4 scents
<gary fullett> I thought u wanted to buy at 516
<gary fullett> you yelled at me when I htought support was at 523
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<gary fullett> okay chris
<amos> a thrust is a thrusty
<gary fullett> there is a weekly chart I ent
<fibo> lol!
<gary fullett> and didnt get to go over tonight
<gary fullett> please ask
<gary fullett> chris did u have question
<lmarsh> 
<gary fullett> or did you want our interpertation
<gary fullett> chris?
<chris> did the gold auction cause the thrust today and can we expect it to continue?
<gary fullett> did u get the weekly gold chart today?
<chris> y
<gary fullett> if so amos wanted to discuss
<gary fullett> the jump over the creek o the weekly
<amos> what gold auction?
<sherri> nite everyone...and thanks again
<gary fullett> in short it appears to be accu,maultion
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<gary fullett> night sherri
<gary fullett> can you be here tomorrow and we can go into detail
<chris> y
<gary fullett> I believe as well as amos that we are looking at higher prices
<gary fullett> so bullish at htese levels
<gary fullett> and details romorrow okay?
<chris> k
<amos> what gold auction?
<amos> Where? SOtheby's?
<gary fullett> there was supposed to be aUK acution on golI
<gary fullett> gold
<gary fullett> well we will go over more charts tomorrow
<amos> Unknown auction?
<chris> something I heard on tfc forum -dont know much about it- supposed to be what caused the last rally
<gary fullett> LOL
<gary fullett> no news is good news
<gary fullett> remeber that one 
<amos> OK gn all
<gary fullett> well I will see you all tomorrow
<lmarsh> nite amos
<gary fullett> good night good folks
<fibo> nite amos thanks
<fibo> nite gary thanks
<gary fullett> stop drinking amos
<jim> gn.
<amos> yes
<amos> bye
<eric> good night
<chris> thanks all goodnight
<gary fullett> good night all see you tomorrow
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<fibo> nite all 
<lmarsh> ok, good nite gary. Hope everyone a good nite, see ya tommorow
<davep> goodnight everyone
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<davep> thanks, gary & amos
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