User [gary fullett /171.217.84.234] joined forum at Wed Apr 05 18:59:43 EDT 2000
<gary fullett> hi sheery
<gary fullett> sherry sorry
User [Mary /206.72.36.116] joined forum at Wed Apr 05 19:00:50 EDT 2000
<gary fullett> hello mary
User [shannon /171.226.161.240] joined forum at Wed Apr 05 19:01:02 EDT 2000
User [dpr /206.63.203.196] joined forum at Wed Apr 05 19:01:05 EDT 2000
<Mary> hi
User [Jack /63.29.105.89] joined forum at Wed Apr 05 19:01:07 EDT 2000
<gary fullett> good evening everyone
User [Peggy /206.173.161.76] joined forum at Wed Apr 05 19:01:17 EDT 2000
<gary fullett> well since this class is an hour I will begin
<Peggy> hello, all. Hi Shannon!
<gary fullett> first as usual are there any questions?
<Jack> good evening
<gary fullett>-><Peggy> is shannon your daughter?
<Peggy> evening, Gary.
<Jack> should we have any charts
<gary fullett> any questions about markets
<shannon> <hi momma
<Peggy>-><gary fullett> yes. She has a Q re effort vs result
User [Fritz /209.190.43.164] joined forum at Wed Apr 05 19:02:32 EDT 2000
<gary fullett> or in general or about last mondays class
<Peggy>-><gary fullett> she read Mondays log
<Sherry> Are we using charts sent 4/4 ?
User [Jeradatar /209.82.119.137] joined forum at Wed Apr 05 19:03:06 EDT 2000
<gary fullett>-><Peggy> let her ask
<gary fullett> no charts
<Peggy> k
<gary fullett> I have charts on the site archives
<gary fullett> I sent charts last night
<gary fullett> but for the beginner class I will not send charts till next week 
<gary fullett> or the week after
<gary fullett> in the 8pm class sherri but not here
<gary fullett> since I am going over backround
<gary fullett> does everyone understand the concept
<Jack> y
<gary fullett> of the Composite man?
<Fritz> y,hi
<Mary> y
<Peggy> y
<gary fullett> this is the corner stone of wyckoff
<gary fullett> okay does anyone have a question about the stock market yesterday?
<Peggy> is that the same as the term market maker?
<gary fullett> or it didnt phase u all
<gary fullett> composite man
<gary fullett> not really
<gary fullett> okay.. I have a qlossary of wyckoff terminolgy
<gary fullett> on the website 
<gary fullett> but I will explain them in class
<gary fullett> and u can use the glossary as a printout
<gary fullett> I have wyckoff books on the site too
<gary fullett> okay lets begin class....
<gary fullett> Please remeber there is No holy Grail
<gary fullett> there is always risks in trading
<Peggy> For new people here, hit your return button every 4-5 minutes or you will get kicked off. Follow our lead.
<gary fullett> but wyckoff will allow you to watch the markets
<shannon> 
<Fritz> 
<gary fullett> from the eyes of people in the know
<gary fullett> the composite man
<dpr> <Enter Text Here>
<Peggy> 
<gary fullett> do you all have the wyckoff wave?
<Jeradatar> 
<gary fullett> it is on the site
<Jack> y
<Mary> y
<Peggy> y
<Sherry> y
<Jeradatar> y
<gary fullett> okay great
<gary fullett> it is worthless 
<gary fullett> I am joking
<gary fullett> it is very important
<gary fullett> what makes a price move up?
<Jack> demand
<gary fullett> more buyers than sellers right?
User [fibo /204.119.225.186] joined forum at Wed Apr 05 19:09:09 EDT 2000
<Peggy> hi, fibo
<Mary> hi fibo
<gary fullett> but for every buyer there is a seller right
<Jeradatar> 
<fibo> hello everyone
<gary fullett> but lets look into this
<gary fullett> hi fibo
<gary fullett> your early :)
<gary fullett> lets take corn
<fibo> lol
<gary fullett> if the market is 220
<Peggy> :)
<gary fullett> and corn moves in 1 /4 cent intervals
User [Sherri /207.112.162.147] joined forum at Wed Apr 05 19:10:23 EDT 2000
<Fritz> 
<shannon> 
<gary fullett> so 220 then 220 1/4 correct?
<Sherri> hi everyone
<dpr> 
<Jack> y
<Mary> hi Sherri
<gary fullett> so if I want to buy corn
<gary fullett> and I want to buy it at 220
<gary fullett> some one has to sell it to me right
<gary fullett> ?
<gary fullett> what happens if no one sells it to me at 220
<Peggy> y
<gary fullett> I must pay a higher price right
<gary fullett> so I must buy the higher price or the offer price
<Jack> y
<gary fullett> so if I want corn I must pay 220 1/4
<gary fullett> correct
<Mary> y
<Fritz> y
<Jack> y
<gary fullett> so I am bidding up the price and buying what is offerrred to me
<Sherry> 
<gary fullett> I am being real basic here but I want you to inderstand the mechanics
<gary fullett> so please bare with me
<Peggy> appreciated
<gary fullett> that is why sometimes u cant buy the low
<gary fullett> because someone
<gary fullett> must
<gary fullett> be willing to sell it to me
<gary fullett> if there is No sellers at 220 you cant buy it
<gary fullett> so I must pay 220 1/4 if I want to be long corn
<gary fullett> now the price is at 220 /14
<gary fullett> and I want to buy more corn
<gary fullett> and there are no sellers
<gary fullett> I must pay up
<gary fullett> to 220 1/2
<shannon> 
<gary fullett> rthis is how a market rallies
<gary fullett> dues to lack of sellers at the bid price
<gary fullett> 220 is the bid
<gary fullett> and 220 14 is the offer
<gary fullett> any questions?
<Jack> n
<Peggy> n
<Sherri> 
<fibo> 
<Fritz> n
<gary fullett> everyone understand?
<Sherry> n
<gary fullett> great
<Jack> y
<Mary> y
<Fritz> y
<gary fullett> and the oposite is true of a market that is going down
<gary fullett> there must be a bid
<gary fullett> to sell to
<Jeradatar> 
<gary fullett> but I wont go over the reverse
<gary fullett> unless u didnt undersatnd
<gary fullett> okay
<gary fullett> so markets move up or down based on sellers and buyer
<gary fullett> and to what price they are wuilling to buy and sell
<Peggy>-><shannon> jump in if you don't understand. if you click on my name on the right ond private we can talk
<gary fullett> what is the definition of an uptrending market
<shannon>-><Peggy> ok
<Peggy>-><shannon> higher highs and higher lows
<gary fullett> it is when a market is making higher highs
<gary fullett> and higher lows
<Jack> higher highs and higher lows
<Sherri> higher highs
<Peggy> higher highs and higher lows
<Sherri> higher lows
<gary fullett> do everyone understand this
<dpr> y
<Jack> y
<Sherry> y
<Fritz> y
<Mary> y
<Jeradatar> y
<fibo> y
<gary fullett> and a dontrending market is when a market makes lower lows and lower highs
<gary fullett> price action I am referring to
<gary fullett> when you draw a chart
<gary fullett> you take the high the low and the close and plot this correct?
<gary fullett> so if corn has a high of 225 and a low of 220
<gary fullett> and the close is 223 you can plot this right
<Peggy>-><shannon> remember to hit enter
<shannon> 
<gary fullett> this is the price action or the range for corn
<Fritz> 
<gary fullett>-><shannon> welcome to class Peggys daughter
<gary fullett> so we can plot
<gary fullett> the daily range
<gary fullett> the range itraday like a 5 minute chart
<gary fullett> as well as a weekly chart
<gary fullett> and a monthly chart
<gary fullett> so there are many price action ranges we can draw
<gary fullett> undersatnd?
<Jack> y
<Fritz> y
<Sherri> y
<Sherry> y
<gary fullett> also associated with price action
<shannon>-><gary fullett> thanks
<Peggy> y
User [TraderA /149.99.72.87] joined forum at Wed Apr 05 19:21:15 EDT 2000
<gary fullett> is volume
<dpr> y
<gary fullett> which is critical to wyckoff
<gary fullett>-><shannon> please ask whatever u wish. 
<gary fullett> volum eis the fuel the gas to a market
<TraderA> Late, sorry
<gary fullett> without it it is difficult
<gary fullett> to move a market signifiacntly
<gary fullett> many people talk aout volume
<gary fullett> but few know how to interpert it
<Peggy> is volume the number of contracts bot/sold?
<gary fullett> wyckoff allows you to do this
<gary fullett> yes
<gary fullett> so we have price action and volume
<gary fullett> I have a question
<gary fullett> how many of you believe in head and shoulders ?
<TraderA> Half the time :)
<Fritz> not sure
<Peggy> never could see them
<Jack> I see it sometimes
<gary fullett> any one?/
<Jeradatar> don't pay much attention to them
<Peggy>-><shannon> that is a price formation
<fibo> no
<Sherri> sure watch for it
<gary fullett> I will say something that may shock u
<Fritz> rare
<shannon>-><Peggy> shampoo?
<gary fullett> dont watch em they dont exist
<dpr> 
<Peggy>-><shannon> lol, no!!
<gary fullett> they happen by error
<shannon>-><Peggy> just kiddin'
<gary fullett> there are No tricks to wyckoff
<Mary> no wonder I have a problem finding them
<gary fullett> just price action and volume
<Peggy>-><shannon> lol
<Jack> Me too sometimes
<gary fullett> that is like a 1,2 ,3 in Ken roberts huh
<gary fullett> to wyckoff a term that I will use often is retest
<gary fullett> this is like a double bottom
<gary fullett> double top
<gary fullett> see if u watch for patterns
<gary fullett> the whole world watches them
<shannon>-><Peggy> 
<gary fullett> and they happen luckily
<gary fullett> for every head and shoulders u fing that may work I can show u more than 2 that doesnt
<gary fullett> find
<gary fullett> so dont watch those patterns
<Jack> ok
<Peggy> k
<Sherri> oh boy
<gary fullett> I will help u with what to watch
<Mary> what about the double bottoms & tops, they seem to work
<gary fullett> yes they do mary
<gary fullett> they work very very well
<gary fullett> i trade them everyday
<Jeradatar> I'm paying attention but I'm cooking supper! Sorry
<gary fullett> but this is a retest of support or resistance
<gary fullett> not a pattern
<Jack> can there by triple tops and bottems
<gary fullett> please send
<Fritz> 
<gary fullett> yes and there can be 4 bottomds 5 bottoms
<gary fullett> 6 bottoms ect..
<Mary> do you find that doubles hold but triples don't?
<gary fullett> there is no way of knowing
<gary fullett> of how many bottoms or tops
<Sherry> 
<shannon>-><Peggy> 
<Peggy> 
<gary fullett> lets take a market that is going into a bull markets
<gary fullett> lets take crude oil
<Peggy>-><shannon> unclick me
<gary fullett> from last febuary
<gary fullett> does everyone remeber when crude was at 1100 
<gary fullett> what was the sentimant of the market
<Sherri> y
<Fritz> y
<dpr> how much variation in price do you use to difine the double bottom or top
<gary fullett> bearish huh
<Jack> y
<shannon>-><Peggy> then i can't click on the main screen
<Fritz> y
<gary fullett> people thought the market was going to 8,6 or maybe even lower right
<Peggy>-><shannon> unclick the private and click back in the writing screen
<shannon> 
<gary fullett> so in order to start a bull market or an uptrending market
<shannon> thanx
<gary fullett> it must start from a bearish or a downtrending market right
<gary fullett> a bull becomes a bear and a bear becomes a bull
<gary fullett> so crude was bearish
<gary fullett> and everyone was short
<gary fullett> or thinking the market was going lower
<Peggy>-><shannon> bear down (bearish) is down market. short means making %% on way down
<Sherry> right because if your going to buy big you need sellers
<gary fullett> people try to nibble on the long side and gort stopped out
<gary fullett> as the bear market continue
<gary fullett> they bought and got stopped out
<gary fullett> that is what is shown on your wyckoff chart do you see this?
<gary fullett> on the far left
<Jack> n
<Sherri> did you send charts?
<Peggy> last night, Sherri
<gary fullett> it is the wyckoff char that is on the site in which I mentioned on Monday
<Sherri> brb
<gary fullett> it is not last nights chart
<gary fullett> it was on the website
<gary fullett> the wyckoff wave chart
<gary fullett> does everyone have this
<Jack> this looks like a bull market 
<dpr> n
<Jeradatar> 
<gary fullett> okay
<gary fullett> then I will talk about it
<shannon> 
<gary fullett> it is on the website please retrieve it for moday
<dpr> k
<gary fullett> if you cant please write to support @trg-trading.com
<gary fullett> and kelly will send it to you for monday
User [Sherri] left forum at Wed Apr 05 19:35:53 EDT 2000
<gary fullett> so when a amrket is going down sellers are over powering buyers right
<Sherry> 
<Jack> y
<fibo> y
<Fritz> y
<shannon> y
User [mike /171.209.189.13] joined forum at Wed Apr 05 19:36:34 EDT 2000
<Peggy> y
<TraderA> 
<fibo> hi mike
<mike> hi
<Peggy>-><shannon> this is a whole new language, huh?
<shannon>-><Peggy> y
<dpr> 
User [sherri /207.112.162.147] joined forum at Wed Apr 05 19:38:48 EDT 2000
User [gary f /171.216.238.255] joined forum at Wed Apr 05 19:38:51 EDT 2000
User [Larry /152.206.2.80] joined forum at Wed Apr 05 19:38:52 EDT 2000
<Peggy>-><shannon> stopped out means, you bot or sold something and for insurance
<gary f> sorry I got disconnected
<shannon> 
<Jack> 
<fibo> hi larry
<gary f> so the market is going down
<Peggy>-><shannon> told your broker a price that you wanted out of it, either for a profit or to
<Peggy>-><shannon> control losses
<gary f> at som point ther are some large buyers
<gary f> this first big buying
<gary f> is by the CM
<Larry> <Enter Text Here>Hi all
<sherri> hi
<Jack> hello
<shannon>-><Peggy> y
<gary f> because they know the end of the down move is about to end
<gary f> so the cm buys his shorts in
<gary f> or his short postion
<gary f> that he had
<gary f> for a long time
<gary f> this is the first time he buys in earnrest
<Jack> so the cm is a trend stoper
<gary f> to buy back the cntracts that he sold
<gary f> previously
<gary f> yes jack in this case now he is
<shannon> 
<gary f> but he is still short the market
<Peggy> 
<gary f> he may be short 1000 contracts and he buys 300
<dpr> 
<Jack> ok
<TraderA> 
<gary f> so his net position is still short 700
<Sherry> 
<gary f> remeber I told u a market can
<gary f> cant that is
<gary f> a market cant just turn around
<gary f> cuase and effect
<Jeradatar> 
<Fritz> 
<Jack> y
<fibo> 
<Peggy> 
<gary f> so at this point when he by=uys 300 contracts
<gary f> this is called Prelimary support
<gary f> or PS for short
<gary f> this buying of the 300 contracts
<Jack> is this the same as preliminary supply
<gary f> is the first support or prelimary support
<gary f> with this buying
<gary f> the cm conducts a rally
<gary f> u r head of me jack
<Jack> sorry
<gary f> I will get there
<gary f> no it isnt
<gary f> dont be sorry
<Jack> ok
<gary f> keep asking
<gary f> so the market then rallies
<gary f> but it hasnt prepared for a move up 
<gary f> so ites rally is limited
<gary f> it rallies to resisatnce
<gary f> the mood in the market is still bearish though
<gary f> the "news " is still negative
<gary f> so what does the public do when it sees this rally?
<gary f> it buys
<Peggy> thinks the market has turned around
<gary f> but the public is early
<gary f> they try to catch the bottom
<gary f> and what happens
<shannon> 
<gary f> the market collapses
<Fritz> stoped out
<gary f> and has a violent sharp break to new lows
<Sherry> 
<gary f> with the heaviest volume
<gary f> in the whole down move
<gary f> and the price action is very very wide
<Jeradatar> 
<Jack> 
<gary f> it is here where the weak longs get stopped out
<Sherry> like yesterdays
<gary f> like the ones who buy the PS rally
<gary f> and amrgin calls hit and pople are forced to liquidate
<gary f> who do u think they sell to?
<gary f> THE CM
<gary f> the cm at this point buys in the rest of his shorts
<gary f> the 700 contracts I mentioned to
<gary f> u
<gary f> and he buys thhem cheap
<gary f> and at any price he wats
<Jack> i get it
<Peggy> a Q please
<gary f> yes peggy
<gary f> questions?
<gary f> does everyone understand?
<Peggy> this preliminary support is the first down on the left of my chart?
<sherri> 
<gary f> yes
<Peggy> k
<gary f> it is labeled
<gary f> the final selling
<gary f> is called a selling climax
<Peggy> I've got an old one. I'll refresh it
<gary f> or SC
<Fritz> 
<dpr> 
<gary f> it is here where the fear sets in
<fibo> 
<gary f> like the Nasdaq yesterday on a daily basis
<shannon> 
<gary f> markets are based on fear and greed
<gary f> does this make sense?
<Jack> y
<sherri> y
<mike> y
<dpr> y
<Sherry> y
<fibo> y
<gary f> wonderful
<gary f> does the CM get long
<Jeradatar> 
<gary f> or buy on balance?
<Jack> ?
<TraderA> 
<sherri> what do you mean
<sherri> bob
<gary f> buy more than he sells
<TraderA> probably not yet
<gary f> k sherri
<sherri> y
<gary f> buying more than he sells
<Jack> i dont know
<gary f> k
<Peggy> I don't know
<fibo> y
<Sherry> for the moment
<gary f> okay so he buys in his shorts
<mike> why is that important?
<gary f> because he now knows 
<gary f> I will explain mike
<Fritz> 
<gary f> the end move is now over
<gary f> the fear has set in the and the news was the most bearish it can be
<shannon> 
<gary f> so the CM buys all of his short position
<gary f> and then may nibble on the long side
<gary f> but what must happen
<Jeradatar> 
<gary f> before an upturn can begin
<gary f> after the selling climax
<sherri> acc
<gary f> the market has a shrp rally
<gary f> rememebr I told u the CM just bought
User [Jimbo /63.24.241.241] joined forum at Wed Apr 05 19:55:47 EDT 2000
<gary f> the weak longs got out
<gary f> so a sharp
<gary f> rally ensues
<sherri> k
<Jack> ok
<gary f> this is called an automatic rally
<gary f> or AR
<gary f> this rally will generally stop at the first resistance point
<gary f> I will show u many many examples
<gary f> of this and where the markets stop
<Larry> why?
User [Guest /216.112.143.165] joined forum at Wed Apr 05 19:56:51 EDT 2000
<gary f> so the market rallies to the previous lows
<Sherry> 
<Peggy> 
<gary f> which is now resisatnce and was support previoulsy
<Jack> ok
<Jeradatar> 
<gary f> becausae larry
<gary f> the market hasnt prepared for a move
<gary f> a market just cant move up
<gary f> from being bearish for so long
<gary f> it needs to prepare
User [sal /216.192.225.44] joined forum at Wed Apr 05 19:58:38 EDT 2000
<Fritz> 
<Larry> ok
<gary f> remeber the market is still
<gary f> bearish
<gary f> and the CM cant
<gary f> just move a market up
<gary f> when the mood isnt good
<gary f> understand?
<Jack> y
<Larry> y
<Peggy> the CM must hide his footsteps or we will all be rich too
<gary f> so it has a rally
<gary f> previous support now becomes resistance
<gary f> yep
<gary f> so the rally stops at the first resisatnce
<fibo> hi sal
<Peggy> hi, sal
<sal> hi
<gary f> thenit will fallbackand ffall back
<gary f> this rally and break
<gary f> will lead to a trading range so the CM can prepare for a move
<shannon> 
<Peggy>-><shannon> I think he is describing the right side of the chart the AR
<gary f> so from the AR 's rally
<gary f> and the bottom of the range
<gary f> this will form a sideways trading range
<Jeradatar> 
<gary f> and this will allow the CM to prepare for the pending up move
<Jack> ok
<gary f> the market will trade back and forth
<gary f> it will retest
<Fritz> 
<gary f> the highs of the AR
<gary f> and the bottom of the SC
<gary f> maybe one tiime
<gary f> or many times
User [SteveF /209.214.194.113] joined forum at Wed Apr 05 20:02:01 EDT 2000
<gary f> but the longer the market goes sideways
<Guest> 
<sherri> 
<gary f> the larger the move will be when it happens
<gary f> I will explain this more fully on Monday
<gary f> but the market is building cause
<mike> 
<gary f> so it can effect a move
<gary f> it doesnt jhappen by chance
User [Gordy /63.88.62.65] joined forum at Wed Apr 05 20:02:58 EDT 2000
<Fritz> 
<Sherry> 
<Jeradatar> 
<gary f> but by preparation by the CM
<gary f> he cant move the market out of this range until the mood gets more friendly or bullish
<TraderA> 
<dpr> 
<gary f> but he moves the market back and forth to wear and tear traders
<gary f> so they dont follow him
<gary f> he doesn like company
<Larry> i see
User [mrj /209.16.79.96] joined forum at Wed Apr 05 20:04:13 EDT 2000
<Jack> 
<mrj> hi everyone
<Peggy>-><shannon> when you exit, DO NOT HIT DISCONNECT. just hit your back button or exit the net
<sal> hi mtj
<gary f> so I have just taken u from the end of a bear or bearish market to the beginning of a bull market
<Peggy> hi, mrj
<gary f> fear sets in
<sherri> gary....question
<gary f> the volumne and price action is large
<SteveF> Hello all and mrj
<Guest> 
<sherri> hi
<fibo> hi
<gary f> but first we get the PS and we can see this
<Peggy> hey steve
<gary f> I am done for class tonight for the beginning class
<gary f> any questions?
<shannon>-><Peggy> can i hit my x to close page
<gary f> does this make sense?
<sherri> if he didn't have company...who would he sell to or buy from
<Larry> y
<gary f> do you understand
<Peggy>-><shannon> I'll send you a log of this. How's the baby?
<gary f> th e traders in the pit
<Jack> yes thanks gary
<gary f> he buys support in the rnage
<shannon>-><Peggy> asleep now
<gary f> as traders sell to him
<Peggy>-><shannon> yeah, you can do that, too. 
<gary f> and he sells to traders at the top of the range as traders buy
<gary f> John Q public
<gary f> okay sherri
User [Jack] left forum at Wed Apr 05 20:06:42 EDT 2000
<shannon>-><Peggy> you'll send this, good need to read at my own pace
<gary f> is this class helpful to you new traders?
<sherri> will continue later
<mike> yes
<Peggy> I can't believe I have been so stupid the last two years!!!! Shame on me!!!
<Jeradatar> 
<Fritz> yes thank you Gary
<Larry> y
<fibo> lol
<gary f> the indetermediate class will satrt in a few minutes
<Larry> thx
<Sherry> very, thanks Gary
<gary f> please everyone stay
<gary f> it will help u all later down the road
<shannon>-><Peggy> bye momma
<Peggy>-><shannon> By sweetie. Call tomorrow if you want.
<Fritz> ok
<sherri> milk and cookie time
<Jimbo> Howdy y'all
<shannon>-><Peggy> thanx
<fibo> hi
<gary f> what d u mean peggy?
User [shannon] left forum at Wed Apr 05 20:07:54 EDT 2000
<SteveF> hey jimbo
<gary f> did this help u
<gary f>-><Peggy> did this help u
<Peggy> I think I thot the market by divine intervention, or whatever, not manipulation to such a degree
<Jimbo> hi stevef
<gary f> there is alot of manipulation
<gary f> like the stock market yeterday
<gary f>-><fibo> shame on u,, you are not a beginner :)
<gary f>-><fibo> bathroom break and I will continue in 2 minutes
<Sherry> 
<Fritz> 
<gary f> bathroom break I will be back in 2 minutes
<fibo>-><gary f> lol
<SteveF> there are people "praying" for the market to go up and also down.:0
User [mike] left forum at Wed Apr 05 20:09:52 EDT 2000
<Jimbo> is Gordy quiet due to Gator depression?
<sal> ill hum the theme song from jeopardy while we wait
<Peggy> God must be in a quandary as to which prayers to answer. MINE of course!!
<dpr> 
<Jeradatar> 
<Gordy> Yes, wait till next year
<SteveF> lol
User [amos /62.0.147.8] joined forum at Wed Apr 05 20:10:30 EDT 2000
<fibo> hi amos
<Peggy> morning, Amos
<amos> hello
<Jimbo> It's been long enough waiting for this year
<amos> I feel like a farmer
<SteveF> tired?
<Peggy> why is that?
<Gordy> never thought I'd see them get this far
<Sherry> all those little money seeds growing
<Fritz> 
<sherri> tell me how we feel amos?
<Jimbo> surprised quite a few
<Guest> 
<sal> well you get up as early as a farmer
<Gordy> always a foot ball school
<amos> getting up at 3 a.m./ I am going a-milking sir she said
<Peggy>-><fibo> do the fib numbers work best only in legs 1 and 3?
<Guest> 
<SteveF> lol
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<Jimbo> i got up at 3 once but didn't survive
<gary f> I am back as Gary 2
<sherri> lot in common...you get up to teach a class...get nothing for it...we get up to plant a crop...get nothing for it
<mrj> lol
<fibo>-><Peggy> you can find the 3 but you can also find the end of 5.
<gary f> sherri the david weis book can be bought on the site now 
<lmarsh> : 0 , hi folks
<dpr> 
<amos> is it possible , sherri, we are both idiots?
<Peggy> hi, marsh
<sherri> got it ordered gary...thanks for fixing the site
<Fritz> 
<sherri> beyond doubt amos
<gary f> dont thank me
<gary f> kelly did it
<gary f> lol
<sherri> thank kelly
<Peggy> go, Kelly. Give that girl a raise!!
<gary f> I did she nows works on the roof
<fibo> lol
<Peggy> penthouse?
<gary f> i work nn te 2nd floor
<gary f> yep
<gary f> lets go
<amos> Anna Frank?
<gary f> any questions
<gary f> :)
<Peggy> lol
<gary f> culd be amos
<gary f> any questions on markets or in general
<Sherry> 
<gary f> by the way beginers class
<Peggy> a Q
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<gary f> I will be showing how to draw support and resistance lines
<sherri> thanks to you too mrj...for your help
<gary f> and charts so u will see what I am talking about
<Peggy> last night we talked about profits in a trading range, but also being whipped to death.
<gary f> k peggy
<Peggy> is it both?
<Fritz> 
<gary f> it can be both
<mrj> you're welcome sherri
User [vik /204.50.171.96] joined forum at Wed Apr 05 20:18:04 EDT 2000
<gary f> when u identify a trading range
<gary f> u can buy the bottom f the range
<gary f> and sell the top of the range
<sal> 
<gary f> the trick is to identify
<gary f> is it accumaultion
<fibo> hi vik
<gary f> or distribution
<gary f> if ui see that at the top of the range
<vik> hi
<gary f> that it may be a JOC jump over the cree
<gary f> creek
<gary f> donrt sell it
<lmarsh> hi vik
<Fritz> 
<Peggy> or shorten the stops
<gary f> watch the volume and price action at the top of the range
<gary f> and u can get a decent idea
<gary f> yes peggy but on a gap it wont help much
<TraderA> 
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<amos> Peggy, if it is a trading range, and you sell the top and buy the bottom--how do you get whipped to deathc?
<Peggy> gary cautioned us about trading ranges, but also said profits there, too
<gary f> it is in between the trading range that u get hurt
<gary f> by buying not true support 
<gary f> and being impatient
<gary f> like silver
<gary f> if you bought the 503 area
<amos> Ah, if you buy in the middle of the trading range--then you DO NOT BELIEVE it is a trading range!
<gary f> nad soold the 520 area
<gary f> it is god
<gary f> good 
<gary f> sorry lord
<Peggy> right, I remember now.
<gary f> but if u buy
<gary f> 512
<gary f> and a stop at 508 not good
<Fritz> 
<gary f> because your stop wasnt under true support of the range
<gary f> do u remeber beans
<gary f> we said that support was at
<gary f> 503 area
<gary f> if u placed your stop at 510 you missed the move
<gary f> place stops under good support
<gary f> the market can still get u
<gary f> but at least
<gary f> it is the right trading idea
<gary f> but if u buy the bottom of the support of the range u shouldnt have much of a problem
<gary f> the problem with traders ( me included)
<gary f> we get impatient
<gary f> remeber what amos said about the cm
<gary f> they have all the time in the world
<gary f> they dont have to pay rent
<gary f> they can wait and wait
<dpr> 
<SteveF> good question peggy.
<gary f> like the bunny energizer
<sherri> farmer pays it for him
<gary f> they can keep going and going
<Fritz> 
<gary f> yep
<sal> 
<lmarsh> 
<gary f> that is why
<Peggy> thanks
<gary f> identifying
<gary f> support and resisatnce is important
<Larry> buy at support on low vol.?
<gary f> especailly in a trading range
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<gary f> if u feel that accumaultion is occurring larry
<amos> MInute please.
<fibo> hi dene
<gary f> welcome dene
<Gordy> 
<gary f> it depends on alot of factors
<Sherry> 
<dene>-><Sherry> Thanks and Hello all
<Peggy> hi, Dene
<gary f> k amos
<amos> Look at the common mistake we are doing here
<amos> : here is the language:
<amos> We have a range
<amos> we want to buy support
<amos> sell resistance.
<Sherry> Hi,Dene
<sherri> 
<amos> lines that delineate a market behvaior.....blah, blah blah
<amos> then comes:
<mrj> 
<amos> We are impatient.
<gary f> very well said
<amos> Either you have a business, a plan, a concept, an organization
<amos> or you are "impatient."
<amos> Do not mix market behavior with our weaknesses.
<Fritz> 
<gary f> be patient
<gary f> watch what the CM is inteding to do
<gary f> and out your postion on with a risk control
<gary f> always use risk control stops
<Jimbo> I think amos is saying patience is immaterial, this is about market, not us
<gary f> patience is what the cm has
<gary f> and uses this to his advantage to us pooer traders
<gary f> one must have a plan
<gary f> one must piece togther a puzzle
<fibo> 
<gary f> and make a business decision
<sal> i want to be patient NOW!
<sherri> lol
<fibo> :-)
<gary f> the markets dont care if we are impatient
<gary f> we lose money
<vik> 
<gary f> but if we are patient
<gary f> and watch closely we can suceed
<gary f> I want to point out a chart that went to great support today
<gary f> and rallied
<gary f> it is may coffee
<gary f> previous support at the bottom of the range
<gary f> was at th 9800 area
<gary f> it rallied 400 points from that level
<gary f> please watch this as the volume increased and the support
<gary f> was hit
<gary f> and reacted nicely
<sal> and relatively speaking volatility is low for coffee
<gary f> yes..
<sal> options that is
<gary f> but it can be very volitile in winter
<Fritz> 
<TraderA> 
<Sherry> 
<Peggy> 
<fibo> 
<gary f> questions?
<lmarsh> 
<mrj> 
<sal> so we would buy low vol and sell high, yes?
<Jimbo> 
<Gordy> 
<SteveF> 
<gary f> I or amos that is would like to talk baout accumaltion
<sherri> 
<gary f> not always sal
<amos> HOw did you know to put the stop in Coffee below 97.19 which was the low?
<dene>-><Sherry> 
<gary f> accumaultion is buying on balance of contracts
<gary f> I didnt
<dpr> 
<gary f> I saw previous support
<gary f> was 9800 area
<gary f> and the stop in coffe should be at least 200 points
<amos> that is in hindsight
<gary f> so the stop should have been at under the 9600
<gary f> why is that hinsight
<amos> because if enough stops were at 9600--those guys would have gone there for one second
<gary f> the support was clearly evident
<gary f> but it didnt
<amos> most stops were at 97.50.
<gary f> that is why u buy support out your stop in hold yourself and pray
<gary f> put your stop in
<gary f> support was clearlt 9800 from the previous lows
<gary f> anyone can see that
<vik> since there is a short for every long the cm has to make it attractive to accumalte?for the seller?
<gary f> and stop should have been far enough awys to prevent the spring
<amos> I do not know many people who bought coffee when it was 400 lower in teh morning
<vik> atractive for the seller
<gary f> yep
<gary f> the CM did amos
<Fritz> 
<amos> you say it NOW, not at 9:45
<gary f> who do you think bough it at 9800
<amos> Iseah Marntzenkvetcher
<gary f> actaully for some larger account they did buy this
<gary f> who do u think bought the nasdaq 500 point lower yesterday
<gary f> the CM buys when the markets looks the worse dont they
<Peggy> 
<gary f> support is support weather it was 100 points lower\
<gary f> or 500 points lower
<Fritz> 
<amos> Yes, this is true, but I would appreciate if in THIS class--we would know those points BEFORE they hpappen
<sherri> I would recommend only options in the kc market...and I have the scars to back up my conviction
<sal> agree sherri
<SteveF> :)
<Jimbo> I have great gashes
<gary f> amos everyone must do thier homework
<sal> coffee burns here
<Sherry> 
<lmarsh> 
<gary f> I didnt know it would go to 9800 today
<gary f> like gold yesterday I was long and sold resisatnce
<TraderA> 
<gary f> how did i know that it would go to ressiatnce at 291
<gary f> but I did sell that rally
<gary f> it would be impossible
<gary f> to tell every suport and resistance in class
<gary f> I can teach principles
<gary f> and show on charts some price action
<gary f> but I owe it to clients to execute when I see it intraday
<sal> y
<gary f> I cant say everything I do i this class
<vik> maybe most of the buying was shorts taking profits
<gary f> that would be unfair to c my clients
<vik> @98
<Fritz> 
<gary f> I try to point out support and reistance in several markets during the weak
<vik> and just no more sellers aroun
<gary f> market went to the bottom of the range vik
<gary f> amos would u like to talk about accumulation?
<vik> yes
<sal> gary how do we know if CM is adding longs or covering shorts , a la Nasdaq?
<fibo> cocoa sure looks good
<vik> thats what i mean about coffee sal
<dpr> 
<fibo> it is holding support
<gary f> well u only know
<Gordy> 
<amos> I would like to continue to talk about the stars, in general
<vik> all the buying could have been profit taking
<gary f> if u know if the market
<gary f> is bullish or bearish
<gary f> accumaltion or distribution
<lmarsh> 
<fibo> stars
User [Larry /152.206.2.80] joined forum at Wed Apr 05 20:46:25 EDT 2000
<gary f> like the nasdaq
<dene> 
<Sherry> 
<gary f> amos mentioedn that he felt that the nasadq
<gary f> had a BC several weeks ago
<gary f> and a retest last week
<sal> y
<gary f> so this could be a bearish market
<amos> There is a danger the way we talk about our favorite marshian--the CM.
<gary f> if the cm buys in order to mark up prices in an uptrend this is buyin
<gary f> if he conducts a rally in a bear this is short covering
<mrj> 
<sal> k
<gary f> amos please continue
<amos> He becomes our home-buddy, our E.T. in our garage, our friend
<gary f> about the stars
<amos> He is not
<amos> He is our enemy!
<amos> he wants to take away our money.
<amos> He wants to destroy us.
<sherri> 
<amos> There is a tendency of familiarity the "breeds contempt."
<Sherry> 
<amos> We talk so much about him, we start asking question like:"how do we know if he does this or that?"
<amos> People. We have no idea why, what, where, when the CM is going to do what he is going to do!!!
<fibo> correct
<amos> we are guessing. Once in a while, once in a great while we can see his goot steps.
<sal> i married a 
<amos> STOP asking questions about the CM>
<Peggy> a given. Just which way did he go!!!
<sal> oops
<amos> What he thinks, why he does this or that.
<amos> Sal, you should have married a millionair
<sal> amen!
<sherri> lol
<fibo> lol
<lmarsh> : )
<Peggy> :)
<amos> The significance of the chart is that it takes away all these questions.
<Sherry> 
<gary f> we can only try to understand the cm actions that is why we use stops
<amos> EIther the relationship of price and volume-indicates supply overcoming demand
<amos> or vice versa--or it does not.
<gary f> the CM s lose money too folks
<amos> The language we use is significant.
<amos> I want to suggest that you all find some free time on 5.1.00 and get on Linda Raschke open house
<Fritz> 
<amos> on her Moore research site.
<gary f>-><dene> are you able to follow this class?
<amos> She has a series of 9 articles you can download.
<amos> I have been sitting the last few days, reading her stuff.
<gary f>-><Larry> are you able to follow this?
<dene>-><Sherry> k
<amos> She took Wyckoff to the most parctical level--and she makes a lot of money.
<Larry> y
<amos> I hope to share with you some of my comments in the near future.
<amos> B ut she is saying very basic things.
<dene>-><Sherry> y Gary
<gary f>-><Larry> amos what does she do with wyckoff that makes her unique?
<amos> She says buy support, resistance, look at teh volume. It is not important what system you use
<dene>-><gary f> yes Gary
<gary f> amos what does she do that is special
<amos> as long as you are consistent, Do not mix methods, Be consistent, have a concept and a plan
<Sherry> 
<amos> Gary--she makes money!
<Jimbo> purty special!
<TraderA> 
<sal> :)
<amos> But she describes the CM as various forces, and after she talks about it--she only pays attention
<sherri> 
<amos> to support and resistance, previous highs and lows, previous swing highs and lows
<dpr> 
<Peggy> 
<gary f> i KNOW SHE MAKES MONEY
<amos> she uses the same terminology we use here--time frames, etc.
<Fritz> 
<gary f> how can we make money
<amos> She understands patience, concepts, rules etc.
<amos> The reason I mention her is because it is a recent reminder to me--how important is the language
<amos> you use in trading.
<amos> We are trying here to understand the area of accumulation.
<amos> So we chose to look at Wyckoff terminology of several stars
<amos> which represent certain points in a market cycle that
<Sherry> 
<amos> have greater than 50% chance of being identified.
<lmarsh> 
<amos> Then We see last nite that Cocoa shows a star 4 which can be much higher than star 2 and immediatley
<amos> I violate the general scheme.
<amos> How can you make money with this?If the general schematic is not encompassing
<amos> all possible events--what kind of a rule is this?
<amos> Well--this is a rhetorical questionh.
<amos> If this business was easy--then all of us would be rich.
<amos> It is NOT a simple game. THere is no one rule or schema that can describe all
<amos> market situations.
<amos> FIghting the last war is not going to make you rich here.
<amos> BUT!!!! unless you know the general rules of the game---for sure you are not going to succeed,
<amos> So we are learning here a SET of rules.
<Sherry> 
<fibo> 
<Peggy> 
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<mrj> 
<sal> 
<Fritz> 
<amos> The best way to use them is to look for something that resembles one of the tenets
<amos> of those rules.
<amos> If you see it or some of it--you have a good chance.
<dene> 
<amos> So, What I am trying to emphasize is that you should always ask yourself
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<amos> what am I seeing? and has the market completely violate my previous assumption.
<amos> The fact that a market behaves not exactly according to rules--does not violate your analysis.
<amos> Remember, IDK=I need more time.
<amos> 
<amos> The concept of human weakness-such as impatience--cannot be tolerated
<amos> by the market.
<amos> 
<amos> If you see a certain behvior on the daily
User [Jimbo] left forum at Wed Apr 05 21:03:30 EDT 2000
<amos> , say what you think is a sequence of PS, SC AR and secondary test--and you decide
<vik> 
<amos> that it is ACCumulation.
<amos> Does that mean the market is going higher?
<amos> Only if the weekly and the monthly allow it.
<amos> If by the end of the secondary test (alleged) there is a large downtrendline on the monthly chart--then
<amos> all we say was a figment of our imagination.
<amos> This is the same as the famous Head and Shoulders techinque.
<amos> I can show you million head and shoulders (shampoos) that were nothing but a wiggle
<amos> on a chart.
<amos> Human ey e is a very poor observer.
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<amos> We may want to talk a little here, one day about the weaknesses of the human animal.
<Fritz> 
<amos> It is a subject all in itself--fascinating.
<Sherry> 
<amos> So what is the solution to the above dilema?
<amos> We said it again and again:
<amos> you must look at several time frames!
<amos> Linda raschke put it nicelt:
<amos> She says something like that ( I will have those quotes posted on our post one day):
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<amos> If you have a small area of double bottom on the 1 miinute chart, but it is a break down
<amos> on the five minute chart--do not take the trade!!!!
<amos> Are you hearing what I am saying?
<sherri> y
<sal> y
<lmarsh> y
<Fritz> y
<fibo> 
<amos> she trades Wyckoff on the 1 minute chart!!!!!
<SteveF> y
<dene> y
<amos> and then she ammends her naughty ways by looking at the 5 min to alert her to
<Sherry> y
<amos> a possible "wrong" definitions.
<amos> This is a very crucial point.
<lmarsh> interesting
<gary f> I try to do that soemtimes
<amos> I think that most of the time should be used to compare various time frames when you look for trading decissions.
<amos> It is tedious, it requires a good data base, accurate and clean,
<amos> it requires a lot of time and concentration.
<amos> It is not very sophisticated--but if you do it correctly--you have already conquered
<amos> some of the weaknesses inherited in our psyche.
<amos> It is the regimented appraoch that takes away the weakness of "Impatience."
<amos> Also, it is important to learn to identfiy and use certain method and stick to it.
<sherri> she must trade by reflex
<Sherry> 
<gary f> amos u talk about longer term trading now u are talking about 1 minute charts?
<amos> If you are looking to buy a selling climax (one whatever time frame you choose)
<amos> do not switch and do other types of support resistance.
<amos> When you go to a brain surgeon, you really do not car what he/she knows about GP.
<amos> You want to become a speicalist in your field in oreder to increase you expertise.
<amos> It takes time to learn which part of a trading methodoology appeals to you most--but if
<amos> you organize your trading career in such a way that you become an expert in a certain
<amos> phenomenon and you cone\cetrate on it--you accomploish two things:
<amos> 1. you become an expert
<amos> 2. You are free to observe something you are knowledgealbe and comfortable with.
<dene> 
<sal> so how would you describe your expertise?
<sherri> 
<Peggy> 
<amos> this is a public forum, sak
<amos> sal
<SteveF> lol
<SteveF> now back to trading.
<amos> I see you begin to tolerate my distorted personality
<fibo> well sometimes :-)
<sal> oh puh lease, i for the first time tonight was being serious :)
<gary f>-><fibo> will david be coming back to class?
<lmarsh> ; )
<Sherry> 
<Fritz> 
<amos> Someone asked me to humor them and I started to talk about the 4 biles: white, yellow, red black
<fibo>-><gary f> i think he is busy with taxes right now.. he hasn't said
<gary f>-><fibo> sal :)
<gary f>-><fibo> k I havent spoken with him for over a week
<amos> sorry
<fibo>-><gary f> he will get back with you on it i imagine
<amos> So, if we go back to the stars of the accumulation--even tho
<gary f>-><fibo> I put his book on the site should boost sales :)
<SteveF> that one parted my hair when it went by.
<gary f>-><fibo> I think he will we can build something nice for everyone
<gary f>-><fibo> 
<amos> they may vary in their form, length of time, severity of decline,
<fibo>-><gary f> yes
<amos> spread of prices between PS rally and bottom of SC--they all have the general
<amos> concept of the PROCESS.
<amos> The word process is so important--I cannot being to describe to you.
<mrj> 
<amos> ANd I am not a fruit canner.
<gary f> just a fruit
<dene> lol
<amos> (remember the Tuna from Seattle years ago?
<gary f> huh?
<SteveF> charlie?
<dene> He was rejected
<amos> I am sorry if I harp on this.
<amos> But since you are talking-fish--(yes Charlie)---I am much
<amos> more interested in teaching fishing than handing a fish.
<amos> Trading is a BUSINESS.
<amos> plant it in your mind.
<amos> In the same way that you won't open a new business wihtout preparing for it
<amos> --you shuld not trade- unless and until you have prepared your operation.
<amos> You have to think of all aspects of the business. Not only the operaion, but about
<amos> the finance, the acconting etc.
<amos> So, if I keep harping on some concepts-- it is not to irritate you,
<Fritz> 
<amos> it is because I know how important these things are.
<amos> So if you get annoyed--that is good
<fibo> k
<vik> 
<lmarsh> ok
<sherri> who ME?
<amos> it means that you still do not understand the significance of the concept and
<amos> you are not ready for this treacherous business.
<amos> But, we are learning here very sound business principles.
<amos> These principles, of wyckoff have withstood the test of time more than most methods.
<dene> k
<amos> They are not easy, but successful traders use them.
<amos> It is HOW the market operates. AT TIMES.
<amos> For example, the point Gary made in the beginnig about Coffee.
<Sherry> 
<Peggy> 
<fibo> 
<sal> 
<amos> UI did no see it until he mentioned it.
<amos> Then I went to the weekly chart--and I had a fit (lack of cafein)
<SteveF> lol
<amos> If you studies the weekly chart--you would see that the 97.00 is THE low of thePS
<amos> a few months back!!!!
<amos> BFD!!
<amos> To know this at the end of the day is not being a WYckoff student
<sherri> bfd?
<amos> You have to collect the data of the market BEFORE it happens.
<amos> YOu have to be ready
<Peggy> don't ask Sherri
<amos> You do not want to know sherri
<sal> beautiful fine day
<amos> Peggy, you CAN explain
<SteveF> big deal
<sherri> OHHHHHHHHHHHHH
<Peggy> lol (I work with cops, therefore I know this)
<Fritz> :)
<amos> some women who work with other people know it too
<Peggy> :)
<sherri> never saw it in CAPS before
<sal> i learn it from jr high boys
<amos> (You are getting closer to my expertise)
<amos> so the stars are part
<amos> of the schma, the general view of
<amos> this business.
<dene> 
<amos> By describing a general frame of a behavior that captures the essense of the
<amos> way risk transfer is being conducted.
<Sherry> 
<amos> How manipulation takes place--we are getting the gener4al tools to work with
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<amos> the fact that the operation goes arwy once in a while--sop what?
<amos> What seperates great heart sugeons from the rest of the 5000 out there?
<amos> they all know to do a quadrupple by pass.
<sal> turbo porsches
<fibo> lol
<amos> no, sal, they all have porsches
<lmarsh> 
<SteveF> :)
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<fibo> knowledge and skill
<amos> it is that the Debakeis of the world know what to do when things DO NOT go well
<sal> oj that too
<amos> When in the middle of the operation you have a kidney failure etc.
<amos> an expert is someone who knows what to do when things fall apart.
<amos> remember the famous line from appolo 13?
<amos> "Failure is not an option>"
<fibo> y
<amos> At any rate, I wanted to go on and discuss the stars that finish the accumulation area and start
<lmarsh> y
<amos> the mark up.
<SteveF> good point.
<amos> The SMI schema is misleading.
<Sherry> 
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<amos> It does not show the SOS , but it shows the JAC right away.
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<amos> As a result--we talk (we=Gary) a lot about sign of strtneth when it is in a different
<amos> pahse of the process.
<amos> You cannot have a "true" sign of strength before the secondary test.
<amos> SIgn of strength , by definition is a point where the CM is already showing his hands.
<amos> I is closer to the RHS.
<amos> RHS=Right hand side.
<amos> Wyckoff talks a lot about the left and the right sides.
<amos> Why?
<amos> Not becuase of his liking Paul Newman (luke)
<amos> but because it is again the way to emphasie
<amos> a process that has width, takes time
<amos> has a span, has sides
<amos> the PS and SC are the left side of the process-- the right hand side of the process
<sal> 
<amos> is where much of the shakingout, the risk transfer, the tiring of early jumpers
<amos> takes place.
<amos> The right hand side should be much more interesting to us.
<amos> You know what?
<amos> It is very boring.
<amos> It tries our "patience"
<amos> It deals, not with the market, but with our weaknesses.
<Sherry> 
<amos> Look at wheat. look at coffee
<amos> look at many markets that trade sideways.
<amos> Thinmk about it==if you are really smart--and you see a market coming
<amos> to a 20 year support=-- all you have to do is buy there and WAIT!!!!
<amos> why is it that we are not so rich?
<gary f> we are not patient
<amos> Bcause once we do something inth e market ---it HAS TO MOVE
<amos> have you noticed how your attitude to a market changes once you have a position in it?
<amos> WHY?
<lmarsh> 
<amos> what happend? Who the f... are you?
<amos> Your 1-5 contracts change anything?
<amos> Well, this is life--we are weak.
<amos> Our analysis changes according to our frailties.
<gary f>-><Sherry> are you new to this class?
<amos> This is why that simply sentence: Determine your stop BEFORE you commit funds to the market is so important.
<amos> It negates this particular weakness.
<amos> You see, I regerss to the subjects that really interest me.
<gary f> using stops and objectives are very important
<amos> Talking about the market and its behavior is the easiest part.
<Sherry> yes
<amos> Talking about our weaknesses as operators--is the hardest.
<amos> Back to the RHS.
<gary f>-><Sherry> do you enjoy it?
<vik> 
<amos> The behavior of the market close to sars 6-9 is not easy.
<gary f>-><Sherry> please click on the private button to the right
<amos> We say cocoa last nite.
<amos> If you think that the AR went above the rally of the PS
<sal> 
<amos> that will meant that from a relative strength (of one swing compared to the preivious one)0-- this market is strong
<amos> So you are tempted to buy it.
<SteveF> 
<amos> What does it do? it goes all the way to the PS
<amos> Once you are in a range--please remember this
<amos> Your LOK is high only at the boundaris. In all other points--it is RANDOM
<amos> The process of accumulation takes place in a range
<amos> So most of the time, even tho YOU IDENTIFIED correctly the general field of was
<amos> 
<amos> your LOK is LOW!!!!
<amos> I will say this again:
<amos> knowing that you have seen stars 1-4 puts you in a low level of knowlledge state
<amos> until the RHS side is complete!!!
<amos> sound weird does not it?
<amos> This is like doing the right strategy,, but fowling up on the tactics.
<amos> 
<amos> are you dead out there?
<fibo> y
<fibo> lol
<sherri> n
<SteveF> i'm here
<amos> Only one hand is clappin
<lmarsh> here
<Sherry>-><gary f> I have injoyed this class, been looking over the archives so im following ok
<lmarsh> eating supper,...
<amos> OK, this is enough for one long dark night
<sal> we're fading and you're picking up steam
<Sherry>-><gary f> Thank you amos
<amos> I can say many things about the last sentence , sal
<fibo> thanks amos
<sal> not again:)
<SteveF> lol
<sherri> what is the web address for Linda whatever?
User [dene /207.50.1.157] joined forum at Wed Apr 05 21:49:12 EDT 2000
<Sherry> 
<SteveF> thanks amos
<amos> http://www.mrci.com/lbr/
<vik> thanks for the website
<lmarsh> Linda's site, right?
<amos> yes
<sherri> thanks
<gary f> amos and linda used to date
<amos> she works with moore research center
<sherri> really...steve moore
<gary f> if she is so rich why does she advertise?
<Sherry> I was talking on Lindas first class, by mistake, they said how did you get in here
<amos> Why does Ted Ternur or Warren Buffet go to work?
<gary f> they dont advertise for clients or sell anything
<sal> to get away from hanoi jane?
<fibo> lol
<amos> Gary, this is business. Most people die
<lmarsh> good en sal
<gary f> :)
<amos> sal she is Henry's daughter!!
<vik> gary?
<gary f> yes
<vik> sya when buying sup or rest
<gary f> vik?
<vik> would it be good to monitor
<sal> tell that to the viet vet in the family
<amos> and may many American women have her figure at her age
<vik> price volume
<vik> been doin it latley
<vik> interesting
<gary f> yes vik I do it every day
<amos> sal, blame mcdonnell douglas and LBJ for that war
<gary f> vik has it help in your trading
<vik> buy if it holds above high vol
<vik> at support
<vik> sell if it holds below high vol at rest
<gary f> good
<sal> ok, I 'll gladly blame a Democrat :0
<amos> Hey, we are fighting two wars on one char room :)
<vik> thats been my experinece
<gary f>-><vik> you should work with me
<vik> same on breakouts
<lmarsh> two fronts ,,,it seems
<vik> if it goes above sup or rest
<vik> i use that price to monitor my trade
<vik> cuts risk
<gary f> thats good
<vik> ok
<gary f> I like that
<sal> time to retreat nite all
<amos> I still think that people here would benefit tremendously if they looked at charts and identifies
<gary f> if it makes money wonderful
User [sal] left forum at Wed Apr 05 21:57:42 EDT 2000
<amos> important points of support and resistance--and posted them--so that we
<fibo> amos will cocoa be a buy on retest of the low at 812 on low vol? on Jul?
<gary f> well it has been a long night any questions>?
<amos> will all be in the next coffee trade.
<gary f> beginners calss continues on Monday
<gary f> at 7pm central
<gary f> well good night everyone
<gary f> have a wonderful evening and a great trading day
<dene> 
<vik> g nite
<amos> cocoa is abut here becuase of the daily thrus
<gary f> amos it isnt fair t,disclse everything to non clients
<amos> thrust that happened yesterday
<fibo> nite gary thanks
<fibo> o.k. yes it did have that
<gary f> thanx fibo
<dene> nite
User [dene] left forum at Wed Apr 05 21:58:45 EDT 2000
<lmarsh> nite fibo
<gary f> clients first amos
<amos> if you disclose these things often enough--they WILL be clients
<Sherry> night
<gary f> I do,,,,
<gary f> on the charts on tuesday
<gary f> clienst have caught thesee moves I speak of
<amos> that is wonderful
<gary f> good night everyone see u all tomorrow
User [Sherry] left forum at Wed Apr 05 21:59:45 EDT 2000
<SteveF> Thank you Amos and Gary for sharing so much.
<fibo> nite
<sherri> nite gary
<amos> OK, I am beat, gn all
<lmarsh> nite gary & thanks
<lmarsh> nite amos
<fibo> nite amos
User [vik] left forum at Wed Apr 05 22:00:04 EDT 2000
<gary f> I mentioedn gold sugar
<amos> bye
User [amos] left forum at Wed Apr 05 22:00:08 EDT 2000
<sherri> thank you again gary and amos
<gary f> pound
<gary f> ect
<gary f> good night
User [gary f] left forum at Wed Apr 05 22:00:14 EDT 2000