User [Snapper /12.77.148.17] joined forum on Tue Jul 18 20:49:22 EDT 2000
<Snapper> hello
User [Nagual /208.60.207.113] joined forum on Tue Jul 18 20:57:25 EDT 2000
User [Capt /24.24.35.235] joined forum on Tue Jul 18 20:57:50 EDT 2000
<Capt> hi all
<Nagual> <Enter Text Here>Good evening first time here recomm by Joe K thanks
<Snapper> Hi, my first too
<Capt> Well stick around Gary will be here soon
<Snapper> tks
<Capt> This is a great place to learn about commodities
User [gary fullett /172.139.138.74] joined forum on Tue Jul 18 20:59:45 EDT 2000
<gary fullett> good evening everyone sorry Im late
<Capt> Hey Gary
<Snapper> Hi
<Nagual> I post a lot about coffee in ino forum
<gary fullett> had alot of emal to answer
<gary fullett> welcome Nagual
User [JOE K /172.148.197.54] joined forum on Tue Jul 18 21:00:29 EDT 2000
<gary fullett> and snapper
<gary fullett> please contribute and ask any and all questions
<Capt> Hey joeK
User [chris /63.15.181.123] joined forum on Tue Jul 18 21:00:52 EDT 2000
<JOE K> hey everyone
<gary fullett> first before I begin
<chris> hi everyone
<gary fullett> does anyone have any questions?
<gary fullett> I have alot to go over toonight
<gary fullett> and talk about
<Snapper> Since this is my first visit, I'd like to listen first, ok?
<gary fullett> Hi chris
<Nagual> Me too
<gary fullett> you may listen or prticipate the choice is yours :)
<Snapper> great! :-)
<JOE K> nagual when you want to talk, you write a message and clck ENTER
<gary fullett> every few minutes
<Nagual> ok
<JOE K> :)
<gary fullett> please hit enter ofr the chat will kick you out
<gary fullett> okay no questions
<Snapper> ok
<gary fullett> I will beginn
User [Zack /206.71.121.97] joined forum on Tue Jul 18 21:03:03 EDT 2000
User [Frank /63.160.52.172] joined forum on Tue Jul 18 21:03:06 EDT 2000
<gary fullett> but let me give a few minutes for our 2 new guess about wyckoff
<gary fullett> if you dont mind
<JOE K> great
<Capt> go
<gary fullett> Richard D Wyckoff
<gary fullett> was a trader in the early 1900's
<gary fullett> he wrote a publication about trading
<gary fullett> he was one of the first technical traders
<gary fullett> he traded only stock
<gary fullett> but his principles works for commoditiies as well
<gary fullett> I will say things tonight
<gary fullett> that will surprise some of the new people here
<Snapper>
<gary fullett> but it is true you may disagree but it is still true :)
<Frank>
<gary fullett> wyckoff
<Nagual>
<gary fullett> is based on 3 principles
<gary fullett> 1_ effort vs result
<gary fullett> cause vs effect
<gary fullett> Demand and Supply
<chris>
<gary fullett> these are PRINCIPLES
<gary fullett> and are TRUE there is NO doubt
<gary fullett> it works in tridng as well as life
<gary fullett> trading
<gary fullett> breifly
<gary fullett> effort vs reult
<Snapper>
<gary fullett> first he belives in Volume AND price action
<gary fullett> with no volume or/and no price action
User [mrj /209.16.79.109] joined forum on Tue Jul 18 21:07:38 EDT 2000
<gary fullett> if it lacks effort
<gary fullett> it will lack result
<mrj> Hi everyone
<Zack> k
<JOE K> hey mr J
<gary fullett> cause vs effect
<gary fullett> cause is an area
<chris> hi mr.j
<gary fullett> of sideways action trading range
<Capt> hey mrj
<Snapper>
<gary fullett> this area of accumaltion
<gary fullett> for buying
<gary fullett> or distribution
<gary fullett> for selling
<gary fullett> you NEED cauase to make a move sustain and go
<gary fullett> like gas in a car
<Frank> hi mr j
<Zack> The longer the better?
<gary fullett> no sidewaya action cant have a large move
<gary fullett> longer cause larger move
<gary fullett> I will show u a chart like that tonight
<gary fullett> it is cotton'
<Nagual>
<gary fullett> any questions?
<gary fullett> that is the crux
<Snapper> not yet
<gary fullett> of wyckoff
<gary fullett> there is a glossary on the site
<gary fullett> I will say a statement that will shock newc omers
<gary fullett> here is comes
<gary fullett> DO NOT FOLLOW NEWS!!!!!!
<gary fullett> DO NOT FOLLOW NEWS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
<gary fullett> it will hurt u according to wyckoff
<gary fullett> the market chart action
<gary fullett> will show u the moves
<Snapper>
<Zack> ok
<gary fullett> The composite man
<gary fullett> is what wyckoff follows
<gary fullett> the composite man is a term that wyckoff used to describe the
<gary fullett> grewat minds of the markets
<gary fullett> the poeple in the know
<Frank> wheat fooled me today, the air is very close, but the temp is down, found that receipe,still getting very seful info from shaleen's book ,pretty good really
<gary fullett> the George Soros Tudor Jones
<gary fullett> Cargil
<gary fullett> Oain webber
<gary fullett> ect/..
<gary fullett> Paine
<Nagual> commercials?
<gary fullett> Nagaul good question
<gary fullett> commercails are generally CM's
<gary fullett> but some farmers will act like comercails
<gary fullett> but arent really
<mrj>
<gary fullett> the commercail thoery came from wyckoff
<Capt>
<gary fullett> most tech analysis came from wyckoff
<gary fullett> there are terms that I may use that new popel wont get at first but
<gary fullett> I will exalin what they area
<Snapper> OK, I'll give you that the "news" is generally there to fool the newbie. What abount facts about supply and demand? or weather?
<gary fullett> when I say supply and demand I am NOT talking fundamentals
<gary fullett> I am talking demand meaning buying
<Snapper> confused...
<gary fullett> supply meaning selling
<gary fullett> technicaly
<Frank> flour companys, feeder cattle large lots , large hog feeders nagual
<Snapper> ahhh, got it
<gary fullett> forget weather u cant control it
<Snapper> can't control the market iether, but I do use it
<Frank> Gary will u explain the automatic rally and automatic reaction?
<gary fullett> u use weather to trade?
<Snapper> yes
<gary fullett> How?
<gary fullett> if there is predicted rain
<gary fullett> and it doesnt rain how do u trade that?
<JOE K> lol
<gary fullett> if there a poss frost and doesnt happen then what
<Nagual>
<Snapper> it alters the supply and demand picture, I trade the perception, sometime short term
<gary fullett> if it rains in Kanasas in 1 mile
<gary fullett> and doesnt rain 3 miles away how do u know that
<gary fullett> forget NEWS
<gary fullett> it will only hurt u
<gary fullett> u may profit
<Snapper> doesn't matter, I trade the general weather, not what's out my back window
<gary fullett> once ina awile
<Zack> News is already factored into price and volume figures by the time we hear about it?
User [chris /63.14.220.2] joined forum on Tue Jul 18 21:19:06 EDT 2000
<gary fullett> Frank I see you question and will answer it
<mrj> wb chris
<gary fullett> Yes Zach
<Frank> thanks gary
<chris> thanks mr. j
<gary fullett> General weather?
<gary fullett> how do u know general weather
<gary fullett> it is a guess when u trade weather
<Snapper> ok..I'll continue to listen then....
<gary fullett> do u know the wether in Brazil?
<JOE K> Listen snapper, I had a 2 hour arguement with Gary about Frost How can Gary be in coffee long before a frost ?
<Snapper> can find out, if i need to
<gary fullett> yesterday the frost was less than expected now more than expected
<JOE K> by technical trading
<gary fullett> do u know Tom skilling?
<Frank> Snapper the question is are u getting rich trading weather?
<gary fullett> he is watched by all grain traders
<gary fullett> but he loses money traing :)
<gary fullett> trading
<Snapper> went to his website, the national weather is two weeks past due
<gary fullett> I get him every day in chicago
<JOE K> lol
<gary fullett> anyway snapper let me explian
<gary fullett> and please ask questions if u dont know
<gary fullett> when I finish
<gary fullett> I make bad trades like everyon
<gary fullett> and I mis read markets like everyone
<gary fullett> and sometimes markets surprise people
<gary fullett> but if u follow wyckoff
<gary fullett> I assure uu will understand how markets work!
<Nagual>
<gary fullett> doesnt mean u will always profit but u will understand the CM
<Frank>
<mrj>
<chris>
<gary fullett> I have been trading for 19 yrs
<Snapper>
<gary fullett> 8 yrs on the floor
<Zack> I'm listening
<gary fullett> I have seen every concivable
<gary fullett> method and system
<Nagual> Cm commercials?
<gary fullett> the prob with systems is that they are tricks
<gary fullett> and they are made in hindsight
<gary fullett> we trade Futures
<gary fullett> not hindsight
<Frank> composite man nagual
<gary fullett> Composite man nagual
<JOE K> yes Nagual, basically
<gary fullett> let talk coffee since it was a weather market
<gary fullett> and it may help snapper
<Snapper> ok
<JOE K> CM is the greater money
<gary fullett> first question
<gary fullett> what is the trend?
<JOE K> the greater knowing forces
<Snapper> I don't do coffee, but it's ok
<Snapper> the trend is the current direction of price movement in your timeframe
<JOE K> up in coffee
<JOE K> trend is up
<gary fullett> If u follow weather coffee is the King
<gary fullett> ak very good snapper
<gary fullett> very good
<gary fullett> daily trend? snapper?
<gary fullett> weekly trend
<gary fullett> monthly trend
<Snapper> depends on your trading
<gary fullett> very important time frame
<Snapper> it varies
<gary fullett> doesnt depend on your trading
<gary fullett> u can trade short term
<Snapper> what I meant is time horizon
<gary fullett> but u must know monthly sipport reisstance
<gary fullett> oh okay I am sorry
<Snapper> agreed
<gary fullett> good :)
<gary fullett> ther e is alot
<Nagual>
<gary fullett> to talk about
<gary fullett> times frames trend ect..
<gary fullett> but i cant do it all in 1 night
<gary fullett> or even a month
<Zack> k
<Snapper>
<JOE K>
<gary fullett> so lets take a market and discuss
<gary fullett> and them I can back track
<Snapper> how about cotton
<chris>
<gary fullett> I will discuss cotton after coffeee okay?
<Zack> Gold?
<Snapper> ok
<gary fullett> gold wiill be discussed tonight as well
<chris> copper
<gary fullett> yes
<JOE K> lol
<gary fullett> I need to answer frank qustion too !!!
<gary fullett> I will answer that after coffee
<Capt>
<gary fullett> I mentioned over a month ago
<gary fullett> that coffee had Monthly support
<gary fullett> in the low 80 '2
<gary fullett> 80 's
<gary fullett> amos mentioned this as well
<gary fullett> we had a decling market
<gary fullett> all yr
<gary fullett> the market broke
<gary fullett> and had some prelimary support
<gary fullett> that is the first support
<gary fullett> that the market sees in a downtend
<Snapper>
<gary fullett> it happened the last week in June
<gary fullett> this meant that the CM
<gary fullett> was beginning
<gary fullett> was covering
<gary fullett> his shorts and were preparing
<gary fullett> for an eventual up move
<gary fullett> yes see this by heavy volume
<gary fullett> in late june
<Zack> k
<gary fullett> the market went thru a selling climax
<gary fullett> early July
<gary fullett> it went to Monthly support
<gary fullett> But closed on its lows
<gary fullett> still bearish
<gary fullett> but the markets free fall
<gary fullett> says something MAY be cliamticT
<mrj> monthly support Sept and Oct 99
<gary fullett> the next day what happened
<gary fullett> the market GAPPED up
<Snapper>
<gary fullett> 7 days ago
<Nagual>
<Frank>
<gary fullett> the volume started to Increase
<gary fullett> this was beginning to show demand
<gary fullett> Frank this us the Automatic rally
<gary fullett> a rally after a selling climaX
<Frank> ok
<gary fullett> is called an auttomatic rally
<Zack> ok
<gary fullett> a selling climax
<gary fullett> is generally
<gary fullett> accompied by heavy volume
<gary fullett> wide price action
<gary fullett> the longs give up hope
<Snapper>
<gary fullett> so the rally is because the CM who bought the selling climax is selling some of his longs
<gary fullett> because he knows the marjkket has little casue tto go higher
<gary fullett> so what do we know about coffee?
<gary fullett> we know the market had a selling climax
<gary fullett> and held monthly support
<gary fullett> hmmm
<gary fullett> says to me be preapred to get Long
<gary fullett> once u see demadn DO NOT be short
<gary fullett> I mentioned this to a client for the last week !!!
<gary fullett> it may break
User [lmarsh /12.14.197.195] joined forum on Tue Jul 18 21:37:22 EDT 2000
<gary fullett> but use this to buy dont get fancy and sell short
<mrj> hey marsh coffee topic
<Snapper>
<Frank> hi marsh
<gary fullett> okay?
<lmarsh> thanks mrj,..hello all sorry late, busy nite
<gary fullett> the Deamd happened 7 days ago
<gary fullett> it was obvious in this case
<gary fullett> hey lamrsh
<gary fullett> the amrket ralied
<gary fullett> to 94
<gary fullett> we sais that was an ice area
<gary fullett> ice meaning reisatnce
<gary fullett> after being previus support
<gary fullett> support becomes reisstance and vice versa
<JOE K>
<gary fullett> the next day the market broke
<gary fullett> to the 9025 area
<Snapper>
<gary fullett> the next day the low was 9025
<gary fullett> seems to be support there who do u think bought it there?
<Nagual>
<gary fullett> 4 days ago
<Snapper> cm
<gary fullett> I bet it was the CM buiying support
<gary fullett> remeber the market showed strenghth 7 days ago
<gary fullett> so the pullback 4 days ago was a buying opportunity
<Zack> Is it normal to have a pull back from an automatic rally?
<gary fullett> Yes
<gary fullett> very good zach
<gary fullett> in the case of coffee it didnt take long
<gary fullett> why
<gary fullett> because the market has been going sideways to lower for 4 monthd
<gary fullett> months
<gary fullett> built some cause
<gary fullett> 105 area to 9500
<Nagual> Is that accumulation?
<gary fullett> was a trading range back in may april
<gary fullett> YES
<gary fullett> YES YES
<gary fullett> YES
<gary fullett> very good !!
<gary fullett> but we didnt know it in may
<gary fullett> because we didnt have demand yet
<gary fullett> nor did we have xclimatic action
<gary fullett> to chabge the trend
<gary fullett> when it went to 82 area we did
<gary fullett> once we saw demand 7 days ago
<gary fullett> it meant an uptend to me
<gary fullett> so the DEMAND after the
<gary fullett> selling climax was key okay Nagual?
<Nagual> yes
<Snapper> you're on the wrong chat joe
<gary fullett> so ice was at 94
<gary fullett> :)
<gary fullett> then ice again at 103
<lmarsh> : )
<gary fullett> the high was 10325
<gary fullett> I must admit I was shocked by today
<Capt>
<Nagual> iso;d it there
<gary fullett> but as i mentioend
<gary fullett> u cant be short so
<gary fullett> today though shocking shouldnt have been so unexpected
User [william /140.198.85.34] joined forum on Tue Jul 18 21:45:34 EDT 2000
<william> <Enter Text Here>
<gary fullett> now u may ask
<gary fullett> Gary No cause we should come back to support
<gary fullett> and i will say that april mat was cause
<JOE K> how can we know when demmand is getting dry
<gary fullett> but I think the markte will ppullback and consolidate and go higher
<Nagual> agree
<gary fullett> un will know demand is getting dry
<gary fullett> by a dry up of volume
<gary fullett> effort vs result joe
<JOE K> daily, or weekly
<Zack> makes sense
<Snapper>
<gary fullett> no volume the cm will see that no one is pushing up "his longs"
<lmarsh>
<gary fullett> and ge will bail
<chris> ice twice? then any resistance level considered ice?
<JOE K> ok
<gary fullett> he waits for pople funds
<Nagual> drt up volume =low volume/
<gary fullett> to take his position up when he is long after he accumaltes a postion
<gary fullett> the CM buys breaks
<gary fullett> sells rallies
<gary fullett> he doesnt buy rallies
<gary fullett> he conducts a campaign
<gary fullett> and has his postion
<gary fullett> and lets the "news:
<gary fullett> take it up
<gary fullett> yes Naugual
<Snapper>
<JOE K> ok, could you some up projected range now in coffee please ?
<gary fullett> NO
<JOE K> lol
<mrj>
<gary fullett> Point and figure will give u the projections
<gary fullett> so we KNOW coffee has demand
<Nagual> pul back to what old resistance?
<Snapper>
<gary fullett> we know that coffee held support
<gary fullett> 103
<gary fullett> 96-103 to me should be bought
<gary fullett> now I have a question if u dont mind
<gary fullett> do u think the weather cuase this rally/?
<gary fullett> I cant wait for this answer :)
<JOE K> growling
<gary fullett> answers?
<Nagual> everybody thinksso
<gary fullett> snapper u say that ui can get weather
<Snapper> the buying cause the rally
<lmarsh>
<gary fullett> the market went to MONTHLY support
<chris> peoples fear about possible weather
<gary fullett> had a selling climax
<gary fullett> had prelimary support back in jUNE
<Nagual> autom rally
<gary fullett> how did the CM know ?
<gary fullett> in JUNE
<JOE K> because he made it happen
<Zack> No. only the perception of weather, (CM helped news?)
<gary fullett> we did nt know
<Nagual> monthly support held
<gary fullett> butt we can see his intention WELL BFORE WEATHEW!!!
<gary fullett> right NAGUAL
<gary fullett> u know this
<gary fullett> and we can trackk this cant we
<gary fullett> ?
<gary fullett> the cm got long
<gary fullett> and the spec funds public saw the weather
<gary fullett> and drove it up
<gary fullett> it wasnt the CM
<chris> cm knows the time period everyone worries about frost
<gary fullett> it was others the cm bought the prelimary support and selling climax
<gary fullett> then why dont we buy every possible frost chris?
<Nagual> cheap prices
<gary fullett> we know this too then
<gary fullett> grains are cheap nagual
<gary fullett> they jusy cant rally because of cheapness
<lmarsh> good point
<gary fullett> the CM needs some bullish "news :
<gary fullett> to rally the marjket after he accumaltes
<lmarsh> cheap doesn't mean much
<chris> yes at support though!
<gary fullett> I mentioend crude at 1100 was a selling climax
<gary fullett> and bought it
<gary fullett> when everyone thought
<Zack> Does cm ever creat the news?
<gary fullett> it was going to 6
<gary fullett> yes chris at support yes
<Snapper>
<gary fullett> oh course he does zach
<gary fullett> every hear of the wall street Journal
<gary fullett> and wall street week?
<Zack> lol
<gary fullett> I am seruious that does more for the Cm than anthting
<Nagual>
<gary fullett> the CM buys support
<gary fullett> sells resistance
<JOE K> So the CM sells or pushes us to a point, were he gets the DEMAND, hes looking for
<gary fullett> he anticipates the "news:
<gary fullett> and wait for it to happen
<mrj> guess whose selling :0
<gary fullett> yep Joe
<gary fullett> why do u think grains dont rally?
<gary fullett> NO DEMAND
<gary fullett> No selling climax YET
<JOE K> no demand yet
<gary fullett> crepp creep creep lower
<gary fullett> last week
<Nagual> but has to hold monthly support
<Snapper> Gary, thanks. But I need to go. I will be back another night. This interests me. I'll look for the logs.
<Snapper> thanks
<gary fullett> snapper thank u for adding
<gary fullett> please come back
User [Snapper] left forum on Tue Jul 18 21:58:00 EDT 2000
<JOE K> Gary how can i distinguish that 108 wont hold as well as 103 in coffee, a point to buy from
<gary fullett> by volume and price action when it get to those levels joe
<Nagual> drying up volume?
<gary fullett> hey u MUST have demand for a rally
<gary fullett> by demand I dont mean
User [Jeff Z. /24.17.169.192] joined forum on Tue Jul 18 21:59:03 EDT 2000
<gary fullett> findamentla demand
<gary fullett> I mean
<gary fullett> demand as in tech buying
<JOE K> got it, so we have to see which support area holds from here, first then
<gary fullett> resistance in coffee 126
User [Frank /63.160.52.172] joined forum on Tue Jul 18 22:00:14 EDT 2000
<gary fullett> then 137
<gary fullett> then 150
<gary fullett> support 114
<gary fullett> 108 103
<gary fullett> 94-96
<Capt>
<mrj> wb frank
<gary fullett> do u see the DEMAND in coffee
<JOE K> got it
<JOE K> yes
<mrj> Hi Jeff
<gary fullett> this IS important
<lmarsh> y
<Nagual> how do i know at what level CM is buying again?
<gary fullett> hey jeff how r u
<Jeff Z.> howdy all
<Jeff Z.> can't compain
<gary fullett> he calls me nagual :)
<lmarsh> hey Jeff
<chris>
<Zack> So we look for higher volume when it reaches one of the support levels as evidence of demad?
<gary fullett> previous support
<gary fullett> retest s of support nagula
<gary fullett> support after it was resisatnce
<gary fullett> like coffee at 10325
<gary fullett> sometimes zach not always
<gary fullett> if a market goes to support
<gary fullett> on heavy volume
<gary fullett> but dornt rally from that support
<gary fullett> that is selling or supply or bearish
<gary fullett> iflik coffee to 103
<Zack> Got it :)
<gary fullett> if the volumeis heavy and it cloases at 10350
<gary fullett> bearish
<gary fullett> if it goes to 103
<Nagual> but 108 was bypassed today with the runaway gap
<gary fullett> then rallies to 110 on havy volume
<gary fullett> Bullish
<gary fullett> jup over reistance nagual
<gary fullett> that is called a Jump over the creek with wyckoff
<Zack> ok
<gary fullett> look where the low was today>?
<gary fullett> look at last march
<gary fullett> that was the highs of a rally
<gary fullett> late feb early march
<gary fullett> do u have a dailty chart of this Nagual?
<gary fullett> todayds lows wasprevious resisance
<gary fullett> what will tomorrow bring in coffee
<gary fullett> how do i know
<Nagual> i have the chart
<gary fullett> do u see
<JOE K> arround march 7
<gary fullett> early marches high?
<JOE K> 115
<lmarsh> y
<Frank>
<Nagual> yes
<gary fullett> that was prev rsistance NOW support
<gary fullett> right?
<Nagual> yes
<Jeff Z.>
<JOE K> y
<lmarsh> perfect
<gary fullett> not me
<gary fullett> wyckoff
User [Will /140.198.85.34] joined forum on Tue Jul 18 22:07:50 EDT 2000
<gary fullett> I only look at the charts
<gary fullett> this is NOT hindishgt
<gary fullett> i mentioend htis month ago
<gary fullett> I have bad ones too :)
<gary fullett> that is why I say todays low is support
<gary fullett> previous resistance now support in coffee
<Nagual> 114 was resistance .If it gets down to that tomorrow.Clarify the volume stuff pls
<gary fullett> well ideally
<Will> What are the next levels ofresistance?
<gary fullett> the volume should retest on light volume
<gary fullett> 126 then 137 then 150 will
<Will> Thanks
<gary fullett> but with volitily
<gary fullett> I bet volume wont be light nagual
<gary fullett> so support at 114
<gary fullett> if it doesn react immedaity get out
<gary fullett> it should if that support is trre
<gary fullett> question should 114 be bouhgt
<gary fullett> Yes!!!
<gary fullett> I would rather
<gary fullett> buy 103
<gary fullett> but 114 should be bought
<Nagual> is it beter to wait tohit 114 and see or place order and exit if it does not hold
<JOE K> 114, then 108, 106, 104, 103 we just have to see which holds best first
<JOE K> right ?
<Will> Where can you find out the current volume during the day?
<gary fullett> what if u lose money
<Nagual> estimated from my broker
<gary fullett> and get stopped out
<gary fullett> so what u should have been long the last few days
<JOE K> lol
<Will> lol
<Zack>
<chris>
<Frank>
<lmarsh>
<Will> sorry,I was tied up in cotton and sugar!
<gary fullett> iI have current volume
<gary fullett> if u have live quotes u get em
<gary fullett> yes your broker should have htis
<gary fullett> I hpe long will
<gary fullett> I would wait nagual
<gary fullett> and see the market action
<Zack> Gary, ca I offer a correction on your Gold chart?
<mrj>
<gary fullett> wait okay
<Will> Yes,got out today in both!
<gary fullett> great
<gary fullett> zach please wait and we will get to gold okay
<Zack> k
<gary fullett> questions on coffe?
<gary fullett> did I make sense?
<Will> y
<JOE K> yes alot
<Zack> yes
<Capt> yes
<gary fullett> to the newcomers do u undersatnd what i am mentioning about wyckoff?
<chris> y very
<gary fullett> about support demand
<Zack> yes
<Will> yes
<gary fullett> nagual?
<gary fullett> questions on coffee?
<gary fullett> bottom line support should be bought in coffee
<gary fullett> trend is up
<JOE K> gary good book for Wyckoff ?
<gary fullett> and I gave u the numbers of support and resistance
<gary fullett> on my site
<Will> which chart next gary?
<gary fullett> lots of them
<gary fullett> cotton then gold
<gary fullett> then copper
<gary fullett> first the automatic rally and reaction first
<gary fullett> automatic rally
<gary fullett> is after a selling cliamx
<gary fullett> it is the first rally that happens
<gary fullett> it is designed for the CM to unload some loangd
<gary fullett> longs
<gary fullett> it will stop at resiatnce
<gary fullett> from previous support of the downtrend
<gary fullett> which is now resistance
<gary fullett> okay Frank?
<gary fullett> automatic reation
<gary fullett> is the reaction
<gary fullett> after a buying climax
<gary fullett> it is the selling
<gary fullett> the ditribution for the CM
User [Guest /209.100.190.142] joined forum on Tue Jul 18 22:19:56 EDT 2000
<gary fullett> oaky?
<gary fullett> cotton
<lmarsh> k
<Jeff Z.>
<Zack> k
<gary fullett> nagual u mentiojed that u trade coffee
<Will> k
<gary fullett> did u have a question for me on coffee or wyckoff
<gary fullett> was I clear?
<Frank>
<mrj> hi Guest
<Frank> y
<Guest> hello
<Nagual> yes i do alot
<gary fullett> it is a great market to trade
<gary fullett> had a client that trade 30-50 lots so I watch it alot
<gary fullett> great
<Nagual> It looks very interesting i'd like to get a deeper version on it
<gary fullett> the glossry on my site has it
<gary fullett> I will go over it more in detail in this class
<JOE K> which is best ?
<gary fullett> the archives have it to
<gary fullett> and u can email or call me anytime
<Nagual> tks
<gary fullett> what do u mean which is best?
<Capt> also print out the wyckoff wave
<gary fullett> 877-306-7100 toll free
<gary fullett> riskybiz99@aol.com
<gary fullett> cotton
<gary fullett> look atbthe low
<JOE K> best book for starters
<gary fullett> 9 days ago
<gary fullett> best book for starter
<Nagual> out of the four books in the add which is the closest to learn his techs
<gary fullett> reminence of a stock operator by jesse livermore
User [Guest] left forum on Tue Jul 18 22:24:20 EDT 2000
<JOE K> thankyou
<lmarsh> good book
<gary fullett> get them all nagual
<gary fullett> thbecause he talks on trading
<gary fullett> he traded stocks
<gary fullett> but the book by weis is very good
<Nagual> no much diff wuth commod?
<Frank> it reads well 3 or 4 times nagual
<gary fullett> how I trade stocks
<gary fullett> my 40 yrs on wal street
<gary fullett> No support is support
<gary fullett> rssiatnce is ressistance
<gary fullett> people are poeple
<gary fullett> so they trade the same to me
<gary fullett> previous highs and previous lows
<gary fullett> are important
User [curtis /24.2.61.167] joined forum on Tue Jul 18 22:26:52 EDT 2000
<gary fullett> 50 percent retracements are important
<Zack> yes
<gary fullett> hey curtis
<gary fullett> welcome
<Nagual> about fibonacis 61.8?
<gary fullett> Yep
<gary fullett> but he like 50 percent more
<gary fullett> but he followed Fibs
<curtis> hey sir gary
<Nagual> meaning wyckoff?
<gary fullett> yes
<Capt>
<Nagual> Any relation to Gann?
<gary fullett> watch for
<Frank>
<gary fullett> gann was wyckoff brother :)
<Frank>
<gary fullett> no gan with wyckoff
<JOE K> serious
<gary fullett> he used
<gary fullett> horizonatl support and resisatnce
<gary fullett> rather than slopng lines
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User [curtis /24.2.61.167] joined forum on Tue Jul 18 22:29:28 EDT 2000
<gary fullett> he used horizonatal
<gary fullett> lines to show better suport and resisatnce
<gary fullett> and demand and supply
<Nagual> Gann's angle has been working out very well with late coffe's action
<Frank> gann and wycof say the same thing, but gann is so technical that wycoff is hard to o find in ganns work
<chris>
<Nagual> but too steep the trend at about 70 degrees
<JOE K> agree
<gary fullett> right Frank agree
<JOE K> to me wyckoff is easier
<lmarsh> time to go, good luck all,....nite
<gary fullett> night lmarsh
User [lmarsh] left forum on Tue Jul 18 22:31:48 EDT 2000
<JOE K> in horizontal wiseopossed to diagnal
<Capt> nite lmarsh
<gary fullett> yes
<gary fullett> so cotton
<gary fullett> had high volume
<gary fullett> july 3
<gary fullett> this was the selling climax
<gary fullett> then thre amrket ralied sharply
<gary fullett> this is the automatic rally
<gary fullett> we are now at resistance
<Zack> k
<gary fullett> and we havent built cause so this market to me will fail in this area
<gary fullett> but good demand shown
<gary fullett> buy no cause
<gary fullett> but
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<gary fullett> see this?
<Jeff Z.> y
<Zack> Yes, for the first time
<Capt> Yikes! that is a big AR
<gary fullett> well it went to resisatbce
<gary fullett> at ice
<gary fullett> sometimes they are more than what u would think like coffee
<gary fullett> there is No set rules u must watch market action
<gary fullett> and volume
<gary fullett> dont use tricks
<Will> what about resistance at 64 in may/june?
<gary fullett> watch market action
<gary fullett> in december?
<Will> No,I was trading the October contract,sorry
<gary fullett> i see this resistnce at the 6250 6300 area
<gary fullett> oh i didnt send it will
<gary fullett> trade dec
<gary fullett> more active
<gary fullett> Oct is a bad month
<gary fullett> resiatnc i at this area
<Will> Why?
<gary fullett> on the automatic rally
<gary fullett> the ice is at these levels
<gary fullett> from june
<gary fullett> I am running short on time
<gary fullett> so lets get to gold
<gary fullett> gold
<gary fullett> is at support at the 28050 area
<gary fullett> needs to take out 288 area to make a move higher
<gary fullett> zach ui had a correction on gold?
<gary fullett> okay I will continue
<Frank>
<gary fullett> gold has been in arange from
<gary fullett> 280
<gary fullett> to 296
<Zack> Yes. The chart you sent out shows Jn 6 @ 282. Should be low of 286
<gary fullett> this is an area
<gary fullett> that will lead to a move
<gary fullett> either accumaltion or distribution
<Will> sorry which month?
<gary fullett> aug
<Will> thanks
<gary fullett> okay thank u
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<gary fullett> hmm
<gary fullett> I will have to see what went wrong
<Zack> 280.6 is correct support
<gary fullett> thank u
<gary fullett> so gold to me had demand last yr
<gary fullett> and eairler
<gary fullett> this yr
<gary fullett> so i think
<gary fullett> this isaccumaltion
<gary fullett> but we need to see more demand
<Zack> y
<gary fullett> so i think the amrket needs to get above
<Nagual>
<gary fullett> 288 to be bullish
<gary fullett> if the market trades under 280
<gary fullett> the market will probaly sell 10 bucks lower
<gary fullett> and this may be dsitribution
<Zack> agree
<Nagual> sorry i had to step out for a minute
<gary fullett> let the market actions tell u the next diirection
<gary fullett> okay Nagual
<gary fullett> so watch those area
<gary fullett> watch the volume and price action
<JOE K> GaryGold is kinda moving like Coffee
<gary fullett> I am soory i went thru the last 2 charts
<gary fullett> fast I wanted to get to 3 other charts tonight ran short on time
<Will> gold charts could use some coffee!
<gary fullett> questions?
<JOE K> lol
<Zack> Is there enough "cause" built up in the metals?
<gary fullett> yes
<gary fullett> meatal have the most casue
<gary fullett> of all the amrkets here
<gary fullett> markets
<gary fullett> but when it will move NO ONE knows
<Zack> agree
<JOE K> Gary quotes Beans and Gold ?
<JOE K> lol
<gary fullett> in a trading range u neer ever know when it will break out
<gary fullett> gold down 80 cents
<gary fullett> beans down 3
<JOE K> thanks bud
<gary fullett> so u try to see if it accumaltes or distributes within the range with stops
<gary fullett> and when it breaks out and u identifyied it right
<gary fullett> bingo
<gary fullett> like coffee
<gary fullett> copper
<gary fullett> silver important lebvel
<gary fullett> 508
<gary fullett> vlosing basis
<gary fullett> but I think 511 should be a beter level
<gary fullett> to reach
<gary fullett> cloasing
<gary fullett> cloasing
<gary fullett> closing
<gary fullett> yikes
<gary fullett> copper
<gary fullett> perfect wyckoff
<chris>
<gary fullett> though I have no on ein it ;(
<Zack> Slipery Silver :)
<gary fullett> the low
<gary fullett> in early april
<gary fullett> sellig climax
<gary fullett> then a large AR
<gary fullett> sideways action
<gary fullett> a braeak back to support
<gary fullett> at the 7950 area
<gary fullett> and now has resistance
<gary fullett> at 8550
<gary fullett> look at the lines i drew
<gary fullett> I will go over this chart in detail On Thusday
<gary fullett> as it requires more talk
<gary fullett> and it is late
<Capt> Gary I noticed that the "selected News" has started. Reports on the drought --Hot weather--Not abel to feed livestock was on national news tonight. Talking about Col.and ignoring the rest of the wheat belt etc. cm is building his case! Me thinks
<gary fullett> so i dont want to short change u
<gary fullett> I do think the CM is accumalting grains here
<gary fullett> and I think that
<Zack> I don't see the volume for a selling climax on the Copper chart. Was it in a prior contract month?
<gary fullett> he will be building cause
<gary fullett> but cant rally the market with bearish news yet
<gary fullett> but I think he will
<gary fullett> yeah it was in pril on the july chart zach
<gary fullett> april
<Zack> thanks
<Will> Copper seems kinda seasonal.
<gary fullett> seasonal up now?
<gary fullett> isnt copper used in housing alot?
<Will> Oops yeah!
<gary fullett> then in the last 4 months housing down why the rally?
<Will> Not sure.
<gary fullett> dothat is why I said u cant watch news
<gary fullett> if u watched news u sold copper due to housing
<gary fullett> but the chart said UP
<Will> are supplies down?
<gary fullett> I am sorry I was quick with those charts
<Capt> Don't you listen to the News Gary it's the mines they are opening up and shutting down on a regular bases :)
<gary fullett> what mines?
<gary fullett> mines and yours :)
<gary fullett> dont know will
<Capt> copper
<gary fullett> oh :)
<gary fullett> I will get back to those charts on thursday
<gary fullett> I have to visit my dying aunt in the hospital
<gary fullett> tomorrow afternoon
<Capt> If you listen to the news you get brain pain
<gary fullett> I amy be late for class but i will be here
<Will> Sorry to hear that Gary!
<gary fullett> no one should go any ytounger she is 97
<Will> agree!
<gary fullett> I amybbe her 30 min late or so or i may beon time depneds on trafiid
<gary fullett> traficc
<gary fullett> traffic
<JOE K> Gary Excellent class
<Frank> very6 good class tonight gary condolences on the aunt
<gary fullett> I try
<Zack> Thanks Gary. I'm beggining to see the light at (for me) the long dark tunnel.
<gary fullett> I try
<Will> Great class ,thanks
<gary fullett> good I hope it help
<Nagual> thanks Gary
<gary fullett> all classes will be like this
<chris> great class thanks
<Frank> gn
<Capt> Thanks Gary
User [Frank] left forum on Tue Jul 18 22:57:31 EDT 2000
<gary fullett> nagual thank u for coming as well as snapper he left
<gary fullett> I will see u tomoow
<Will> see you guys in the mines!
<gary fullett> any question first though?
<Will> n
<gary fullett> okay good night
<Capt> n
<chris> n
<Will> nite!
<gary fullett> see u tomorrow hopelly I will beo times
<gary fullett> good night
<Will> k
<Nagual> nite gary
User [gary fullett] left forum on Tue Jul 18 22:58:16 EDT 2000