User [gary fullett /172.159.202.71] joined forum on Mon Jul 24 20:55:27 EDT 2000
User [Guest /209.16.79.99] joined forum on Mon Jul 24 20:56:53 EDT 2000
User [Guest] left forum on Mon Jul 24 20:56:58 EDT 2000
User [nagual /209.214.0.7] joined forum on Mon Jul 24 20:57:18 EDT 2000
<gary fullett> hey nagual
<gary fullett> rough day today
<nagual> hello guys
<gary fullett> how are you?
<gary fullett> nagual how are u?
<nagual> fine after the beating
<gary fullett> yeah me too
User [Zack /207.168.128.57] joined forum on Mon Jul 24 20:58:52 EDT 2000
User [Capt. /24.24.35.63] joined forum on Mon Jul 24 20:58:54 EDT 2000
<Zack> Hi all
<gary fullett> that was rough I didnt expect it to retrace all the way
User [frank /63.160.52.215] joined forum on Mon Jul 24 20:59:25 EDT 2000
<nagual> with these gap openings is not easy even to apply stops
<gary fullett> I should havebeen aware that the the way the market broekr from 12
<gary fullett> thru 103 was a tell tale sign
<gary fullett> impossible
<gary fullett> to place stops
<nagual> nobody knows is hard
<Zack> Coffe I assume?
<nagual> i'm still in there
<gary fullett> hind sight is 20-20
<gary fullett> but tomorrow will be critical
<gary fullett> market needs to show demadn form the 8240 area if tested thopugh I htink they will be higher tomorrow
<nagual> the close how wasit in your view
<gary fullett> yes zack
<gary fullett> interesting close
<gary fullett> I felt that the market tried to accumaulte
<gary fullett> after opening much lower
<gary fullett> if u sold the opening at 8700
<gary fullett> you didnt realy make any money
<gary fullett> so the news shorts will get out on a higher opening
<gary fullett> That is what I want to talk about tonight
<nagual> what about the CM in this action
<gary fullett> about opening ranges and how amrket behaves after the opening
<Zack> k
<gary fullett> I believe that we had demand from the 8400-122 rally
<gary fullett> and that this sharp pullback
<nagual> so is this looking like building cause now
<gary fullett> is to shake the longs out
<gary fullett> if the 8200 area is held YES
<gary fullett> I dont have alot of support under 80 cents
User [Guest /209.16.79.99] joined forum on Mon Jul 24 21:03:57 EDT 2000
<gary fullett> so to me this area
User [Guest] left forum on Mon Jul 24 21:04:21 EDT 2000
<gary fullett> Must be held to say that this was demand in which I thought
<gary fullett> so tomoorow to me is critical
<gary fullett> if we open steady we can raly
<gary fullett> if we open lower they will sell
<nagual> steady meaning what
<gary fullett> if they open at todays low I think we rally
<gary fullett> 100 points either way
<Zack> Expected Volume?
<gary fullett> i a market that is bearish
<gary fullett> short term
<nagual> 14300
<gary fullett> when the market opens higher
<gary fullett> the pit will sell
<gary fullett> why is that?
<gary fullett> well the reaon is
<gary fullett> that
<gary fullett> people who couldnt sell a weak close
<gary fullett> will sell in the morning
<gary fullett> becuas e they have buy signals
<gary fullett> the only ones long coffee
<gary fullett> are people that are stron hands
<gary fullett> strong
<gary fullett> so if the market opens the pit ill have a tendency to sell
<gary fullett> if the opening holds a raly will ensue
<gary fullett> this is for all markets
<gary fullett> in a market that has been short term bearish
<gary fullett> u DONT
<gary fullett> wasnt to see a higher opening
<gary fullett> u want to see a LOWER or STEADY opeing
<gary fullett> and SEE DEMAND
<gary fullett> do u undersatnd this>?
<nagual> lower than the close?
<gary fullett> the opposite is treu in a bullish amrket
<Zack> k
<gary fullett> yes nagual
<gary fullett> it is important to what I said
<gary fullett> about market psychology
<gary fullett> about openings
<gary fullett> so please take a minute and see if u understand
<gary fullett> that is why grains failed today
<gary fullett> they are generaly bearish
<gary fullett> sharper opening was sold
<frank>
<Zack> So if we see lower or steady, we should look for good volume to confirm
<gary fullett> when a market is bearish DEMAND MUST proive it self
<gary fullett> Not supply
<gary fullett> because supply is evident becasue the market went down
<gary fullett> good volume and a rally yes zack
<gary fullett> when a market is bullish supply MUST prove it self
<nagual> so coffee might be getting trapped between 80 and 120 range
<gary fullett> in a bearish market Demand or buying Must prove itself
<gary fullett> if it does it will be very bullish
<gary fullett> becasue 80 is the bottom of the range
<gary fullett> and 120 is the top of the range
<gary fullett> and if the support holds this means the
<gary fullett> market is building cause of accumaltion
<gary fullett> trading ranges
<gary fullett> are for biding time'
<gary fullett> in prparation for a maove
<gary fullett> a market that will be a very large move soon is Silver
<nagual> so how coffee's action today look in reference tom this theory
<Zack> agree
<gary fullett> longest sideways action of all commodities to me
<gary fullett> support in coffe to me needs to be bought
<gary fullett> 8200 area -8500
<gary fullett> should be support and should be bought
<gary fullett> under 79 cents the amrket can trade 74
<gary fullett> to em
<gary fullett> coffes volume
<gary fullett> was about 14 k today correct?
<nagual> 14300
<gary fullett> what was the volume Friday?
<gary fullett> I will walk thru this
<nagual> 9 something
<gary fullett> thursday?
<nagual> 12
<gary fullett> okay
<Zack>
<gary fullett> what does this say
<gary fullett> it says that supply came in today
<gary fullett> but held above support at 8240
<gary fullett> correct?
<gary fullett> folks I am talking coffee
<gary fullett> but it doesnt mean that it only relates to coffee
<nagual> with good volume
<gary fullett> I am talking wyckoff principles
<gary fullett> so supply or selling came in
<gary fullett> and the market didnt break support
<gary fullett> correct?
<nagual> yes
<Zack> y
<gary fullett> who do u think bought that supply?
User [Mark /206.117.248.124] joined forum on Mon Jul 24 21:17:38 EDT 2000
<nagual> CM
<Capt.>
<Zack> cm
<Mark> Good evening
<nagual> but how do i know for sure it was CM
<gary fullett> u dont nagual
<gary fullett> otherwise we would be on an island
<gary fullett> tomorrow u will know
<gary fullett> hello mark welcome
<Mark> hi, thanks for the e-mail
<gary fullett> someone did right nagual
<gary fullett> u r welcome anytime
<gary fullett> anyone can call or write me
<gary fullett> what did coffee open up today at
<nagual> tomorrow will tell if demand is present?/
<Mark> 90
<gary fullett> I want to talk about strenghth and weakness class
<gary fullett> I am using coffee but u can relate this to any market
<nagual> 89 and then 87
<gary fullett> okay 89 was a phantom tick
<Mark> right
<gary fullett> first trade was 87
<gary fullett> 8700
<gary fullett> what was the close>?
<nagual> 8630
<gary fullett> correct
<gary fullett> if I sold the opening how many points did I make?
<nagual> basically non
<gary fullett> CORRECT
<gary fullett> that is My point
<gary fullett> what was the trading range of the day
<gary fullett> not incliding the gap?
<Mark> but if you recognized the shakeout, and got out after shorting?
<nagual> 460
<Mark> easier said than done of couorse
<Zack>
<gary fullett> yes amrk
<gary fullett> mark
<gary fullett> actaully the range really was 260 points to me
<gary fullett> 8700 to 8440
<gary fullett> because it traded here all day
<nagual> right
<gary fullett> I have a question
<gary fullett> why the snall range?
<gary fullett> small
<nagual> indecision?
<gary fullett> with heavy volume
<gary fullett> small range
<gary fullett> right
<gary fullett> 14 k was higher volume in the last 3 days
<Capt.> because Cm wanted to control yhe market not let it get away from him
<gary fullett> we said that right
<gary fullett> the range was smaller
<gary fullett> the days actaul trade
<gary fullett> capt that is part of it
<gary fullett> so smaller range heavier volume
<gary fullett> the market had very "bearish news" right
<Mark> testing support?
<gary fullett> why did they sell it more
<gary fullett> yes Mark
<gary fullett> who controlled the range
<gary fullett> and who biught the selling or supply?
<gary fullett> dont side with me
<gary fullett> think iof it rationally?
<gary fullett> was it 1 lot and 2 lot traders that created volume
<Mark> the demand side bought the support
<Mark> no way
<gary fullett> and kept the range small and in control?
<gary fullett> hen who bouight the supply and who controlled the trading range today?
<Zack> CM. Only one with that kind of control?
<gary fullett> me buying 1 c0ntract
<Mark> cm kept selling
<gary fullett> zack I think so
<Mark> to test support?
<gary fullett> class does this make sense?
<gary fullett> that the CM bought
<Mark> no
<Zack> y
<gary fullett> or someone with money bought
<gary fullett> or does this sound like BS?
<Capt.> well i think I alrady said that the cm was in there
<gary fullett> it is a very important concept of wyckoff
<gary fullett> I agree capt
<Zack> I would say it's logical and probably the best guess
<gary fullett> I just want everyone one to see this
<Capt.> k
<nagual>
<gary fullett> yes we can only
<gary fullett> follow larg e money and people in the know
<gary fullett> someone bought today
<gary fullett> I can guarantee it was the CM
<gary fullett> No one can
<gary fullett> But it seems that someone bought as the market went lower
<gary fullett> lets say I am right
<gary fullett> and the cm bought btwween the opening anf the low
<gary fullett> from 8700-8440
<gary fullett> does he have a profit or a loss?
<Capt.> profit
<nagual> profit
<Mark> pretty much even
<Zack> Doesn't matter. Setting up for a bigger move
<Mark> to profit
<gary fullett> mark did u write me today and did u get my resose if u did?
<Mark> a set up move
<Mark> yes i did
<gary fullett> small profit
<Mark> and i ordered the first Wyckoff book
<gary fullett> it was meant to be private sorry
<Mark> no prob at all
<nagual>
<gary fullett> so the cm bought and is going home a small winner
<gary fullett> abd the poele who sold Hoping today was a gap up
<Mark> today, and he also has the market befuddled?
<gary fullett> did they make or lose money from the opning
<nagual> o
<gary fullett> market tend to go where they cause the most pain
<gary fullett> and today I feel that is what happened
<gary fullett> if peopel who are weak shorts
<gary fullett> sold today will small accounts
<gary fullett> if the market opens 600 higher tomorrow
<gary fullett> what do u think thye will do?
<nagual> cover
<Zack> Get out
<gary fullett> yes
<gary fullett> good
<gary fullett> u can tell alot abut markets demand
<gary fullett>
<gary fullett> support
<gary fullett> and resisatnce supply
<gary fullett> by drawing
<gary fullett> horizonatl
<gary fullett> lines as in a floor and a ceiling
<gary fullett> 8200 flor
<gary fullett> 120 ceiling
<gary fullett> Most techs
<gary fullett> dont do this
<gary fullett> this is a Big tool for wyckoff students
<gary fullett> the opening range
<gary fullett> is important
<gary fullett> as it seperates the winners from the losers
<gary fullett> as the amrket takes a direction
<gary fullett> evn though coffee
<gary fullett> was sharly lower
<gary fullett> to me it settle above where it traded most of the day
<gary fullett> important last line
<gary fullett> the market went sideways for about 5 hours today
<Mark> sorry
<gary fullett> this means something
<Mark> had to leave for a minute
<Mark> yes
<Mark> mostly beans, sometimes cows
<Zack>
<nagual>
<gary fullett> so this sideways action was preapration
<gary fullett> for a pending move
<gary fullett> since I thought coffee had demmand
<gary fullett> and Now supply came in
<gary fullett> what do u think has to prove itself now
<Zack> Demand
<gary fullett> Right
<Capt.> yep
<gary fullett> where would expect demand to come in
<nagual> 82/87
<gary fullett> right
<gary fullett> 8200 area
<gary fullett> thru 87
<Zack> Above former resistance (94-96?)
<gary fullett> that would be resistance zack correct
<gary fullett> previous support becomes resisatnce
<gary fullett> and vice versa
<Zack> So why would demand come in a lower price range?
<gary fullett> Imentioened many times
<Mark> accumulation?
<gary fullett> the CM buys breaks
<gary fullett> sells rallies
<nagual> IS THIS 94/96 resistance target for Cm to sell/
<gary fullett> so when the market breaks who buys
<gary fullett> a portion nagaul
<gary fullett> if they are longer term bulloish they will hold some
<gary fullett> do u understand why i said the CM buys supports and sells resistance
<gary fullett> because funds sell broken support
<gary fullett> and buys broken resisatnce
<nagual> BUT EVERYBODY THOUGHT MAJOR SUPPORT WAS AT 96 AREA
<Mark> what the cm wants them to do
<gary fullett> yep and that is why we tested 84
<gary fullett> nagaul
<gary fullett> to wash the eople who bought 94-96
<gary fullett> right Mark
<gary fullett> if I said that the CM buys support
<gary fullett> doesnt it make sense that they bought today control
<gary fullett> the range
<gary fullett> as the funds sold under support
<gary fullett> funds got a sell signal under 9400 today
<gary fullett> the heavy volume u saw in coffee today was created by funds
<gary fullett> they sold broken support
<gary fullett> as I just nmentioned
<gary fullett> as Nagual said EVERYONE THOUGHT 94-96 was support
<gary fullett> even Me
<gary fullett> funds sell new lows
<gary fullett> CM buys breaks
<gary fullett> does this make sense to u?
<Capt.> y
<Mark> yes for the cm it does
<gary fullett> right mark
<Zack> y
<gary fullett> we dont have money like the CM
<gary fullett> but we can try and track
<gary fullett> them
<gary fullett> nagaul
<Mark> so we try to go along for the ride
<gary fullett> said what did I expect tomorrow
<gary fullett> and I said with the action today I think highr
<gary fullett> Mark that is all we can do.
<Mark> yep
<gary fullett> question does the CM lose money ?
<gary fullett> of course they all do
<Mark> frequently in smaller amounts
<gary fullett> but in the long run they make the market
<Mark> in the longterm.........
<Zack> Short term--yes. long term no
<gary fullett> we all lose money and make bad trades
<gary fullett> but the good traders amke it back
<Mark> so we small traders try to go along with the big moves set up by the cm
<nagual>
<Mark> ?
<gary fullett> I think that is the basis of wyckoff
<gary fullett> and the composite man
<gary fullett> do u know 100 percent what the composite man ( cm) is
<gary fullett> and his role
<Mark> no
<gary fullett> this is the backbone to wyckoff
<Zack> Sum total of the movers and shakers
<gary fullett> the composite man IS NOT ONE PERSON
<gary fullett> it is the culimaination of all the great minds of the worls
<gary fullett> yes zack
<gary fullett> goldman sachs
<gary fullett> goeorge soros
<gary fullett> warren Buffet
<gary fullett> tudor jones
<gary fullett> richrad dennis
<gary fullett> Cargil
<gary fullett> ect...
<gary fullett> they are poele "in the know"
<gary fullett> they will know more tan we will ever begin to know
<nagual>
<gary fullett> so we watch their intentions
<gary fullett> they try to disquise it
<gary fullett> but we can track thru VOLUME and PRICE ACTION
<gary fullett> they control the news
<gary fullett> that is why we cant trade th news
<Mark> thats for sure
<gary fullett> yes news is like gasoline on a fire
<gary fullett> it willa cclerate a move
<gary fullett> but the market has prepared itself before the news hit
<gary fullett> that is why i mnetioned silver
<gary fullett> why cant silver move up or down sinificantly?
<Zack> Acumulation time
<Capt.> CM isn't ready yet
<gary fullett> right
<gary fullett> he cant move a market up or down sigficantly
<gary fullett> without :news"
<gary fullett> coffee is easy to mve lots of "news"
<Mark> until momentum is built, or acumulation?
<gary fullett> Not silver
<gary fullett> so it remains in a range
<gary fullett> watch the market action price actiona dn volume in silver
<gary fullett> for a pending move
<Zack> Don't we need a selling climax first?
<gary fullett> why zack?
<gary fullett> we are at the bottom of a range
<Zack> Shake out the weak longs
<gary fullett> ah very good :)
<gary fullett> we have a range from 523-495
<gary fullett> so if we fo under 495 then abobe 500
<gary fullett> what is this?
<Mark> drop to 450?
<Zack> Spring?
<gary fullett> if we go to lates say 490
<gary fullett> then go bove 500
<gary fullett> Yes Zack
<gary fullett> a spring of the 495-523 range
<gary fullett> to me if silver gets above 511
<Zack> Yeah. I got one right :)
<gary fullett> it ill trade at least 523
<gary fullett> :)
<gary fullett> mark
<gary fullett> if the market goes under 495
<Mark> then shake out the longs, yes?
<gary fullett> and doesnt rally abobve it
<gary fullett> ys 450 isnt out of the question
<gary fullett> yes mark
<gary fullett> do u think weak longs are still in coffee?
<Mark> no way
<Zack> n
<nagual>
<Mark> maybe even moderates
<gary fullett> correct
<Mark> are out
<gary fullett> so either
<gary fullett> the weak shorts are right
<gary fullett> or the strong longs are right
<Mark> longs are i would think
<Mark> pain earned
<gary fullett> I would tend to agree mark
<Mark> like i said, still in 1a
<Mark> early part
<gary fullett> that is why i think tomorrow in coffee is critical
<gary fullett> to the overall trend here
<Zack> I'll keep yu company Maark
<Mark> thanks zack
<gary fullett> becaus ethe range, price action and volume today
<gary fullett> do u see how we worked thru that?
<Zack> y
<nagual>
<gary fullett> by watching the volume pricea ction
<Mark> do you think another heavy volume day? or are alot of coffee traders pretty well shaken out?
<gary fullett> I think that if anyone is long from that last rally
<gary fullett> and didnt get out
<gary fullett> they have stops under 80 cents
<Mark> braver souls than me
<Mark> or at least alot deeper pockets
<Zack> Wow. Big draw down
<gary fullett> if the market doesnt go there there arent many stops
<gary fullett> right
<gary fullett> but who has larger ockets than the CM
User [frank /63.160.52.215] joined forum on Mon Jul 24 22:04:45 EDT 2000
<Mark> one thing i have learned the hard way, is that moderate stops are a disaster
<Zack> Not me :)
<Capt.> coffee frank
<gary fullett> what do u mean Mark>?
<gary fullett> it is about coffee
<frank> thks
<gary fullett> but all amrkets trade like thsi
<gary fullett> I just want to work thru the days action
<Mark> either use tight stops for position, or loose stops and ride out the shakes
<Capt.> right
<Mark> not coffee, just in general
<gary fullett> tend to agree woith u mark
<gary fullett> please note
<gary fullett> wyckoff
<Mark> i have stopped out , barely, more times than i would care to admit
<gary fullett> did not BUY 1 support price
<gary fullett> o sell 1 resiatance price
<gary fullett> they buy an area
<gary fullett> so when I say beans has support
<gary fullett> at th 457060 area
<gary fullett> 457-460
<gary fullett> I dont say buy 460
<gary fullett> if th amrket action dictates
<gary fullett> a lower entry point
<gary fullett> I let the market tell me.
<nagual>
<gary fullett> by the way immentioned to u that the opening range
<Mark> i think that maybe a selling climax is being set up in beans............
<gary fullett> was the high or the low of the day
<gary fullett> I think we had that mark
<Zack> Gary isn't it a good idea to wait untill opening range before entry?
<Mark> sorry
<gary fullett> we just had the automatic rally
<gary fullett> of 35 cents
<Mark> yes?
<gary fullett> dont be sorry struggle with me
<gary fullett> YES ZACK
<gary fullett> I never enter an order during the opening range
<gary fullett> wait a few min after the opening to place
<gary fullett> the opening range in coffee 8700-8900
<gary fullett> high was opening range
<Capt.> is that the first twenty min. in your mind Gary or what?
<nagual>
<gary fullett> about the first 20-30 minutes
<Zack> Precious metalls seem to take about 30 min to settle out
<gary fullett> it is deu to the pit trying to get direction of the day
User [Mark] left forum on Mon Jul 24 22:12:35 EDT 2000
<gary fullett> the pit trders buy above the opening range
<Capt.> it didn't take them long to make up their minds in beans today!
<gary fullett> and sell under the opening range
<gary fullett> well immentioend that 474 was critical in beans
<gary fullett> had clients sell the opning today
<gary fullett> opened up tad above reisstance
<gary fullett> beans are interesting
<gary fullett> I mentiend that they could have a spring under 450
<gary fullett> and go to the 440-443 area
<gary fullett> they sis
<Capt.> well iwas right behind them :)
<gary fullett> Now they are having the AR
<gary fullett> after the move to 440
<nagual> sorry about spring is what?
<gary fullett> the went from 443 to 479
<gary fullett> 36 cent move :)
<gary fullett> what is half way back?
<gary fullett> 461?
<Capt.> yes
<gary fullett> expect 457 -461 to hold
<gary fullett> if this was the AR
<gary fullett> and now a retes
<gary fullett> is it possible that it can retest 443?
<nagual> yes
<Capt.> yes but doubt it
<gary fullett> of couse look at coffee
<Zack> y
<gary fullett> Capt great point
<gary fullett> hat was my poitn about coffee
<gary fullett> I didnt expect
<gary fullett> the move to retrace everyting
<gary fullett> it is
<gary fullett> it did
<gary fullett> how does one know?
<gary fullett> THEY DONT
<gary fullett> they may lie and say they do in hinsight
<gary fullett> but beleive me KNW one knows
<gary fullett> beans may or may npt
<gary fullett> coffee may and DID retest the whole move
<gary fullett> well a clue in coffee
<gary fullett> was that they has weak closes
<gary fullett> in hindsight yes
<gary fullett> nd if thy weather was cold
<gary fullett> never would have bought
<Zack> Sure, but all we can do is to try and stack the odds in our favor
<gary fullett> so that is why I say buy support sell reisstance
<gary fullett> because one nver knows
<gary fullett> the CM may buy support and lose money
<gary fullett> as he buys the other support
<gary fullett> if the cm biought this break in coffee
<gary fullett> is he making money or losing money?
<gary fullett> yes Zack
<gary fullett> he is losing money
<gary fullett> so if long he will condct a rally back to the 122 area
<nagual> if he bought at 96 he's loosing
<gary fullett> YEs
<gary fullett> but was 96 the right area to buy
<gary fullett> ?
<gary fullett> in hindsight NO
<gary fullett> but to me it had to be bought
<nagual> no because it was not the bottom
<gary fullett> how did we know it wasnt?
<gary fullett> we didnt
<gary fullett> but if the market goes to 122 and retestd
<nagual> 8249\0 had been
<gary fullett> did the CM make money or lose money?
<Zack> Hindsight is always 20-20 :)
<gary fullett> right
<gary fullett> i put myself on the Line everynight with u
<gary fullett> and try to understand and struggle like u do
<gary fullett> many times I am wrong
<nagual> so the cm has several suports as the price goes down to buy
<gary fullett> but after alomost 20 yrs in the biz
<gary fullett> losing makes u stronger
<gary fullett> YES NAGUAL
<Zack> Boy I must be strong :)
<gary fullett> he buys all the way down
<gary fullett> and sell all the way up
<gary fullett> me too zack :)
<Capt.> I don't want to get any stronger!
<nagual> if they wrong on first support woluld they sell what they got?
<gary fullett> one thing is for sure
<gary fullett> every sucessful tader
<gary fullett> has gortten killed in the markets
<gary fullett> felling stronger everyday!!! a song by Chicago
<gary fullett> great q
<gary fullett> Nagual
<gary fullett> they answe ids NO
<gary fullett> why do i say this
<gary fullett> because lets say the cm bought
<gary fullett> at 103
<gary fullett> then 96
<gary fullett> then 87
<gary fullett> then 82
<gary fullett> and sells the retest at 122
<gary fullett> did he make money
<gary fullett> ?
<Capt.> y
<nagual> y
<gary fullett> but at one point he was ut 10 cents
<gary fullett> 20
<Zack> Are you suggesting that CM is a scale trader?
<gary fullett> yes of curse he is
<gary fullett> but a scale trader :knowing"
<gary fullett> he is right
<gary fullett> do u think he bought silver when it ent to 650?
<Zack> n
<gary fullett> or beans at 590?
<Capt.> n
<gary fullett> o course not
<gary fullett> do u think be bought beans at 445 450 area?
<Capt.> y
<Zack> y
<gary fullett> who do u think sold under 450 area?
<nagual> scale down manner he did
<nagual> weak shorts
<gary fullett> right
<gary fullett> and who are the weak shorts
<nagual> small specs
<gary fullett> yep
<gary fullett> do u want to trade like the small specs?
<gary fullett> or buy when everyone sells
<Capt.> nooooo
<Zack> Nope. To "strong" already
<gary fullett> I will prove a point
<gary fullett> crude oil
<gary fullett> why did it go so high>?
<gary fullett> it went high to slow the economy
<gary fullett> higher gas
<gary fullett> peopel drive less
<gary fullett> and spend less
<gary fullett> why is it going down
<gary fullett> Now
<gary fullett> hint :)
<gary fullett> election time
User [jim /172.140.133.4] joined forum on Mon Jul 24 22:31:14 EDT 2000
<nagual> it accomplished its commitment
<jim> hihi, all:
<Zack> Hi Jim
<jim> long time no see.
<nagual> strong gap up in coffee pit wouldn't sell it?
<jim> is gary coming back, anyone knows?
<Zack> Nagual. Is the Gan line still showing support?
<jim> well, I shall see you all tomorrow. Bye.
User [jim] left forum on Mon Jul 24 22:36:32 EDT 2000
<Capt.> he didn't say nite so his puter mustof acted up
User [Gary Fullett /172.134.195.182] joined forum on Mon Jul 24 22:36:45 EDT 2000
<Gary Fullett> sorry
<Gary Fullett> got knocked out
<Capt.> whew we were missing ya
<Gary Fullett> did u get what I said about eh crude>?
<Zack> Welcom back
<Capt.> yep
<Gary Fullett> thanx
<Gary Fullett> so the Cm knows the news
<Gary Fullett> and can manipulte it
<Gary Fullett> who do u thik was selling as the amrjket was rallying
<nagual> Gann wasteep at about 65 degree not holding now it was at 96 support with that steep slope slope
<Gary Fullett> he doesncare to be losing 1k
<Gary Fullett> to make 10 k
<Gary Fullett> okay
<Gary Fullett> so a gann line was 96?
<nagual> with the trend that we had yes
<Gary Fullett> nagual?
<Gary Fullett> so 96 hould have been bought as well with Gann right?
<nagual> yes
<Gary Fullett> sometimes as I said we are just wrong
<nagual> but it was to steep
<Gary Fullett> the cm..us poor traders too
<Capt.> Feel better :)
<Gary Fullett> we have too,s and try to do what we can with them
<Gary Fullett> I talked about the Cm tonight becasue I want u all to know his role
<nagual> trading coffee you never stop being shocked
<Gary Fullett> it is impoirtant to know intention short term intermediate term long term
<Gary Fullett> very very true Nagual
<Gary Fullett> coffee big risk big rewards
<Gary Fullett> nature of the beast
<Gary Fullett> tomorrow I will talk energies
<Gary Fullett> coffee
<Gary Fullett> grains crb
<Gary Fullett> silver prob
<Gary Fullett> any other markets u wish to discuss?
<Zack> Gold?
<Capt.> Markets to watch this week Gary? silver, coffee and????
<Gary Fullett> ah monday that is right
<nagual> pits do not sell strong up gaps?
<Gary Fullett> silver at 495
<Gary Fullett> gold at 276
<Gary Fullett> coffee at 8200-80
<Gary Fullett> silver above 511
<Gary Fullett> gold above 288
<Gary Fullett> beans at 457
<Gary Fullett> C$ at 6855
<Gary Fullett> all imprtant levels to me
<Gary Fullett> yes they do nagual
<Gary Fullett> but they will reverse quickly if they are wrong
<Capt.> Thanks
<Gary Fullett> they sold coffee on a big down gap'
<Gary Fullett> there are many time frames with wyckoff
<Gary Fullett> intraday daily weekly mnthly
<Gary Fullett> so watch your times frames when u trade
<Gary Fullett> can expect a large move from a 5 minute chart
<Gary Fullett> cant expect that is
<Gary Fullett> any other questions? tomorrow chart intnsive with littlee wyckoff priciple
<Gary Fullett> I will show the principle
<Gary Fullett> o the charts
<Gary Fullett> instead of formally
<Gary Fullett> questions? please?
<nagual> what is a spring ?
<Capt.> none here
<Gary Fullett> okay I will see u all tomorrow :) have a great night..
<Gary Fullett>
<Gary Fullett>
<Gary Fullett>
<Gary Fullett>
<Gary Fullett>
<Gary Fullett>
<Gary Fullett> a spring
<Gary Fullett> just under the wire :)
<nagual> right
<Gary Fullett> is when a market has a trading range
<Gary Fullett> like coffee 80-120
<Gary Fullett> that range
<Gary Fullett> and goes under 80
<Gary Fullett> to say 76
<Gary Fullett> then closes above 80 cents
<nagual> ok
<Gary Fullett> this is acalled a spring
<Gary Fullett> it is designed to get the sell stops out
<nagual> the same market day?
<Gary Fullett> the opposite is an upthrust
<Gary Fullett> it would be if coffee went above 120
<Gary Fullett> nd closed under it
<Gary Fullett> generally yes Nagual
<Gary Fullett> but many time 2 maybe three
<Gary Fullett> unuausal to be 3
<Gary Fullett> but 2 more common than 2
<Gary Fullett> than 3 sorry
<Gary Fullett> generally 1
<Gary Fullett> sometimes 2
<Gary Fullett> rarely 3
<Gary Fullett> does that help?
<nagual> y
<Gary Fullett> make sense>?
<Gary Fullett> it is designed to get the weak longs out
<Gary Fullett> so the cm buys them
<Gary Fullett> like beans under 450
<nagual> that's why i have my stopss mentally
<Gary Fullett> went to 443
User [joe k /152.175.38.217] joined forum on Mon Jul 24 22:50:37 EDT 2000
<Gary Fullett> stops hit weak longs out
<Gary Fullett> 36 cent rally
<Gary Fullett> sometimes I get mentla when I trade too nagual
<Gary Fullett> mental
<joe k> hey everybody
<Gary Fullett> I watch action
<Gary Fullett> so very impoirtant
<nagual> too late joe
<Zack> Your late Joe
<Gary Fullett> I agree nagual oabout the mental thing but many cant do that
<nagual> i know
<Gary Fullett> great q nagual
<joe k> computer problems
<Gary Fullett> do u know the diff between a spring and upthust?
<nagual> yes
<Gary Fullett> it is a talent :)
<Zack> y
<Gary Fullett> great they are the same but oposite
<Gary Fullett> spring thru support
<nagual> iknew it but not the terminology
<Gary Fullett> upthrust thru resistance
<Gary Fullett> they all took it from wyckoff :)
<Gary Fullett> cheaters :)
<Gary Fullett> watch beans tomoorw
<Gary Fullett> on this retest
<Gary Fullett> of 457
<Gary Fullett> hey Joe what do u know
<joe k> what did yas say about coffee
<Zack> Joe. Too bad you wern't here. Gary showed us a sure fire way to make scads of money in coffee tomorrow :);)
<Gary Fullett> drink more
<joe k> crying
<Zack> lol
<Gary Fullett> shhh dont tell him
<Zack> Mums the word
<joe k> trader down
<Gary Fullett> I know one thing for sure
<nagual> i will for another bottle of glenlivett
<Gary Fullett> they steal coffee bags and that creates a shortage
<joe k> dand you guys
<Gary Fullett> good stuff nagual
<joe k> dang
<joe k> fine, I'll just get out my Ken roberts manual
<nagual> or buchanans 18 year
<joe k> :)
<joe k>
<Gary Fullett> u gen do Joe
<Gary Fullett> :)lol
<Gary Fullett> the man with the hat
<Zack> And the cigar
<joe k> I get it from Gary
<Gary Fullett> with your money
<Gary Fullett> from me?
<nagual> Cohiba
<joe k> Gary secretly loves Ken Roberts
<Gary Fullett> I love those
<Gary Fullett> have a bix :)
<Gary Fullett> in the humidor
<Gary Fullett> box
<Gary Fullett> Julia roberts
<joe k> has a 6ft poster of Ken Roberts at home
<joe k> lol
<Gary Fullett> well if there a re no therquestions
<Gary Fullett> I will see u all tomorrow night
<Zack> Yeah and throws darts at it for tomorrows trades
<Gary Fullett> with charts in hand
<joe k> question
<Gary Fullett> please java oe
<joe k> what did yas say about coffee ?
<joe k> :)
<Capt.> He, he he :)
<Zack> Thanks Gary. See you tomorrow
<joe k> cant blame me for trying
User [Zack] left forum on Mon Jul 24 22:59:02 EDT 2000
<Capt.> Got to go good night to all
<nagual> nite all
<Gary Fullett> support at 82-80 should be higher
User [Capt.] left forum on Mon Jul 24 22:59:28 EDT 2000
<Gary Fullett> night all
User [Gary Fullett] left forum on Mon Jul 24 22:59:37 EDT 2000