User [gary fullett /172.148.102.226] joined forum on Thu Jul 13 20:58:28 EDT 2000 User [Capt /24.24.35.96] joined forum on Thu Jul 13 20:58:44 EDT 2000 HI guys good evening Hey Gary did Amos get his puter fixed yet? User [mrj /209.16.79.221] joined forum on Thu Jul 13 20:59:49 EDT 2000 I will be with u in 2 minutes not really he cant get charts yet Hello Gary, Capt and Guest counting;) he has a computer but no charts so he feels naked and wont come till he gets charts L( brb i more min User [Joe K /172.160.25.241] joined forum on Thu Jul 13 21:04:26 EDT 2000 hi joe Hi Joe hey guys just posted class address again to INO forum maybe will get some visitors Im back sorry User [wyatt /166.93.111.151] joined forum on Thu Jul 13 21:05:56 EDT 2000 got injured today coffee was good to you today huh Joe building my deck I feel over a 2 by 4 not bad java joe Hi wyatt lol :) im serious Got some good help from GARY gary who the FILL DOCTOR you dum dum lol oh I have no clients in coffee :) lol User [Name already in use /166.93.111.146] joined forum on Thu Jul 13 21:07:41 EDT 2000 okay any questions I do want to chat on coffee for a minute where we at in coffee lol questions first thouhg yes hi mrj, everyone AOL dumped me sa i'm also name already in use lol no questions? T-Bonds had a JOC today? i have one Gary was ICE in coffee 90 ? or 95 ? ice coffee comon man well we mention coffee for the past several days I mentioned that coffee in 2 days that is went up faster than it went down in 6 weeks that was what I called Demnad it went upfaster than it went down this to me was strenghth mr J mentioned that we were still in a downtrend and I said he was right but I said that 103 was critical so the market I said had ice at the 9400-9600 remember? y I member that! well the market went to 950 the other day then closed at 9290 I said that the market should retest the 91-90 area the low yesterday was 9025 9459 not 950 9450 the high yesterday was a retest it went to 9420 high so what happened over the last few days the ice was 94-96 we tested 450 9450 a JOC so if ice is 94-96 as I said what would a Jump over the creek do? Right already :) if 96 was the top of the ice creek what would u expect a JOC be above it would be a gap above that area and what would that be? demand 9600 right? y if it gap or jump over ressiatnce or the creek what should it gap over 9600 what was the low today? lost track if 94-96 is ice ressiatnce and we tested 9450 one day low was opening then 9420 yesterday and 9600 was the top of resisatnce what level would a joc be? 9600 right what was the low today? in coffee? 9600 do u remeber what i said yesterday the opening range>? y it's me wyatt aol dumped me just so u know :) :) I thought I spotted a wyckoff smartie :) i said the high or low is the opening i try like mrj :) coffee opened at 9600 never looked back that was the low if u bought the opening u made 2k NO RISK so demand for 2 days in coofee lead to a 15 cent move about 5k in profit just by identifying demand Now it is very difficult to hold futures but options are a viable market though it is NY and that is the way I would play it for clients :) from 82 to 103 its more like $7,500 profit on 1 futures but do u see what I mean about Demand? I know Joe if your a bad a$$ lol but if u bought AFTER u saw demand and waited for a definite demand u would have bought on Monday on the close true yes support was 8200 area as we mentioned several wweeks ago but the market acted bad but if u waited u were rewarded coffee moves now yesterday I mentioend the 103 area as the next resistance and the high today was 10320 so I would expected the market to devlop some type of trading range and resume the Up some consolidation question? yes k how do we gauge how far a move before consolodation by volume ? thre best way? the point and figure charts but if u dont do this there is a heavy layer of resistance from 2-25 to 5-31 with mid point of range being 105.15 u can measure the sideways action before the move occured ok today's high stopped right at downtrend line use the horizontal range and turn it vertically yes Mr J we did mention 103 as a target see market just dont go up or down the MUST prepare coffee hasnt built alot of cause for a major move yet I know there is talk of frost but a market cant go without cause it is like a car with little gas yes u can milk it and turn of the AC off and get a few more miles but ultimately u must re fill same with markets cool that makes sense it is a PRINCIPLE cause vs effect effort vs result not enough cause for results it is the Law of Physics gary I was just rying to help answer Joe's question on how far a market should go before it consolidates my chart.12/20 high of 144.50 and the high area on 5/23 draw a down trend line....where do u think it is on this move? thank u mr j is there something u want to add no :0 Gary is there any rule of thumb, that also brings on consolidation, after a jump over the creek ? the JOC interisting huh !! No joe yep already it is easy when u do homework :) like when markets have the demand to jump over the creek, that that has put stress on Demand so warrents consolidation is what I meant no stress on demand it makes people short covering when a amrket joc's market it should trapp all the sorts shorts it should not reward them do u think shorts have covered in the coffee market? thankyou, thats what I was missing yes they have no they havent even begumn to begun to because no down trend line has been broken yet sorry class if Im holding us up on coffee do u all have a access to a coffe chart y y joe Im not talking about coffee because of u y many of my clienst have this position on y and this log goes to them k so I want them to see this as well as it is wyckoff k draw a downtrend line from the prevuios high may 22 high may 30 high and draw don trend line it comes in at 9550 on tuesday 9450 that is 9420 yesterday what the the highs of those 2 days ? and then it gapped today PERFECT WYCKOFF did u draw it? any way my point is it follow trenlines perfectly even a volitile market like coffee follows tech lines people say they dont like to trade markets like coffee rice ect bellies but they follow trendlines the point is when u see demand and we identified this last week and this week u must look for a place to get long or stay long or Not be short gary if we draw that trendline it goes at an angle to 85off the chart right ? from 85 to 108 high straight angle okay I am sorry i spent alot of time on this but I wanted to show when u see Demand in a market and when u see a large volume like we did 2 months ago this means that the CM is up to something and it probably a change of direction so when u look at markets weather it is intraday 5 niute minutes daily weekly monthly when u see wide price action small price action large volume this is a tip off to the CM nort being able to diguise his foot steps it is usaully at this point where there is a fight between the bulls and the bears but as I said ut takes consiolidation or cause so even though we see a big volume day week month intraday it takes time to resolve it just doesnt hapen as I have mentioned many times User [mrj] left forum on Thu Jul 13 21:52:16 EDT 2000 it is the cms job to confuse u and take time so they will wear and tear u till the markets moves and everyone gets chopped up and when the move happens people dont believe it and it goes without them the markets are always User [Frank /63.160.52.203] joined forum on Thu Jul 13 21:54:35 EDT 2000 testing support and resistance demand and supply and it is out job to see which way the cm is leaning and determine hat they want to do and where they want to go make sense? markets alwasy test themselves and retest themsleves and when the CM can tie in a move to the news he will move the amrket and lets the public and the funds and he watches for a stoppage of the move and gets out questions? makes sense? y I want to talk on the grains yesterday I mentioend beans tested support at the 453 area and that it retested that level and reacted the market opened up a few cents higher today this induced selling as many people are bearish doesn't cm sell a advancing market to test before he pyramids? but whren the market broke it held support Yes Frank he will sell rallies and buy breaks sells resistance and buys supports to disguise his move the Key is in the grains is to see DEMAND we know supply is there well what do we need to look for in grains ? we need to look at the support that it holds and see the reaction on the breaks if the amrkets goes to support and doesnt rally this means still weak isn't that the key in all markets but if the markets holds support and begins to rally very bullish yes it is Frank but popel dont trade it that way wyckoff was one of the first people to do this and many many people have taken this approach it is logical and makes sense to look at the market this way so when beans went to resstaince at the 467 area it went to the other support at 457 the low todaybwas actually 458 and the market closed with a small rally but this rally to me was enough upport to warrant a rally the CM didnt want to close the amrket higher in my opinion because 1 not alot of cause yet 2) to disquise a pending up move if the amrket closes lower the bears can say "they made money today " so he disquises and he accumaltes and he them grains apear to be about too go up disquises what his intentions are until a "news " item if the grains do rally from here what to u think the reason wuill be User [Joe K /172.160.25.241] joined forum on Thu Jul 13 22:07:28 EDT 2000 dry hot weather :) all the news is bearish project a beans sept +6.0, nov +2.2 and now the market seems to hold up this to me means a up move can occur I think soymeal is the strongest grain and if u r long that should be the one questions? y k II know I mentioned about doing charts tonight but if u dont mind I will do these on Monday it is my birthday tomorrow and I am going out for a few hours in a few minutes You said in Jan that meal often leads the bean complex. Do you see that relationship now? I did my homework :) happy 15 minutes yes capt in a bull move in beans market gary i know wycoff did not use open interest, but did he not look at the number of shares of stock by the way very good so in a bull move meal shuld lead over bean oil Thank you and HAPPY BIRTHDAY! and yes I see this now out standing which might be simular to open interest? well I stopped counting very good correlation Frank yes I think so I think outstanding shares can be equated to open interest s it is simliar thanks , is it your birthday gary? tomorrow Bastille day Beagle Day ?