User [gary fullett /24.240.192.12] joined forum on Tue Oct 10 21:00:22 EDT 2000
<gary fullett> hi zack
User [nagual /209.214.7.50] joined forum on Tue Oct 10 21:00:40 EDT 2000
<Zack> <Hi Gajust beat yu :)
<gary fullett> u win the prize :)
User [chris /12.83.1.213] joined forum on Tue Oct 10 21:00:54 EDT 2000
<nagual> good evenig guys
<Zack> Hi Nagual, Chris
<chris> hi everyone
<gary fullett> how is everyone tonight
<Zack> How was the volume today Nagual ?
<nagual> but this move i wont give it longer than friday to correct
User [lmarsh /12.14.197.167] joined forum on Tue Oct 10 21:03:15 EDT 2000
<nagual> 5k
<Zack> Gary, have you heard from Amos? Is he O.K. over there ?
<gary fullett> yes he is I spoke with him today
User [Mark /206.117.248.113] joined forum on Tue Oct 10 21:03:51 EDT 2000
<Zack> Hi lmarsh, Mark
<gary fullett> amos is a tad nervuos I think but he is okay
<Mark> Hi all
<gary fullett> I dont know if you all heard
<lmarsh> hello all
<gary fullett> but a classmate
<gary fullett> was murder last thursday
<gary fullett> I htink you all know him as Mr J
<Zack> Abdsolute shocker :(
<Mark> seriously?
<gary fullett> it was and it was quite sad
<gary fullett> yes Mark
<lmarsh> yes, tragic
<Mark> very sad
<nagual>
<gary fullett> he was a manager of a used car store
<gary fullett> and he denied a 17 yr old punk credit
<gary fullett> and the boy stabbed him
<gary fullett> in Loiusana
<gary fullett> did you all recieve the charts today?
<lmarsh> any idea on the age of his children?
<lmarsh> yes, got charts
<nagual> he was 62
<chris> y
<Mark> yes
<gary fullett> yes young man
<Zack> I'll miss his input Gary. He was a good man :(
User [Terry W /166.72.177.97] joined forum on Tue Oct 10 21:06:53 EDT 2000
<Mark> yes agree zach
<gary fullett> I sent the nasdaq chart today
<gary fullett> as there is alot going on in the stock amrket today
<Terry W> hi all
<lmarsh> hey Terry
<gary fullett> Hi terry
<Mark> hi terry
<Zack> Hi Terry
<gary fullett> he was a god man and he knew wyckoff
<gary fullett> good man
User [Guest /24.7.3.63] joined forum on Tue Oct 10 21:08:04 EDT 2000
<gary fullett> Now I have to fly solo :)
<gary fullett> any questions on wyckoff
<Zack> Looks like Yahoo took a hit after hours. Nas. will probably open lower in the morning
<gary fullett> markets , or in general?
<gary fullett> yhoo have earning?
<Mark>
<Zack> 1 cent higher than expected
<nagual> nas will retest 3000 soon
<gary fullett> okay
<gary fullett> questions?
User [frank /63.160.52.216] joined forum on Tue Oct 10 21:09:29 EDT 2000
<gary fullett> I want to start with the nasdaq
<gary fullett> Hi frank
<gary fullett> nice to see you
<Zack> Hey Frank
<Mark> hellofrank
<lmarsh> hi Frank
<gary fullett> I let the class know about mr J
<gary fullett> how tragic and senseless it was
<frank> hi gary, zack, marsh,mark
<nagual> hey frank
<Terry W> I missed about mrj
<gary fullett> Mr J was murdered by a punk kid last thursday terry
<gary fullett> he was a wonderful man who contributed alot here
<Terry W> terrible
<frank> this country is getting like vietnam, the minute u start to like some they are gone, real bummer
<Terry W> where did he live?
<gary fullett> he was one of the orginlas of this chat
<gary fullett> for about 2 yrs
<gary fullett> louisana
<gary fullett> he was a knowledgable person and a good man
<gary fullett> he helped me alot about markets too
<Mark> very true
<Mark> always open to ideas
<nagual> He used to be a teacher before
<lmarsh> yes, he was very smart, and a friend
<frank> we dialogued daily during the trading day trading stratigies
<gary fullett> frank you were probably the closest to him outside this class
<frank> y
<gary fullett> so my condolences to you as well
<frank> thanks
<gary fullett> I only spoke with him on the phone several times
<frank> y
<nagual> I propose 1 minute silence in His Memory
<Zack> Same here Frank. I only knew him for a little while but he sure had my respect
<gary fullett> but he gave me alot of places to look for things
<gary fullett> yes I agree with nagual
<lmarsh>
<Zack> agree
<gary fullett> okay
<nagual> yes
<gary fullett> I know some of you
<gary fullett> and some of you I dont know
<gary fullett> but I feel that we come to class 6 hours a week
<gary fullett> and that we all have a bond
User [Scrooge McDuck /206.71.97.87] joined forum on Tue Oct 10 21:17:50 EDT 2000
<chris>
<gary fullett> a bond for all of us to understand markets
<gary fullett> and hopefuly be better educated
<gary fullett> and thus become better traders
<gary fullett> and I want to help everyone here
<Mark>
<gary fullett> as well as learn from you
<gary fullett> and have a dialogue so we can all trade better
<gary fullett> and beat the markets
User [Scrooge McDuck] left forum on Tue Oct 10 21:18:57 EDT 2000
<gary fullett> Mr J was loyal and true to this class
User [Zack /206.71.97.87] joined forum on Tue Oct 10 21:19:09 EDT 2000
<gary fullett> so it took me back a bit when I heard this
<gary fullett> but we have his memeory
<frank> His daughter wanted every one too know
<gary fullett> how is she doing Frank?
<Mark>
<gary fullett> well lets start with the Nasdaq
<nagual>
<gary fullett> there are several points here
<Zack> to Frank--I work at home so I can spend a lot of time watching but not full time
<frank> very well considering her family was ripped too schreads
<frank>
<frank>
<frank> and her mother may not make it either
<gary fullett> she had a heart attack didnr she?
<Mark> they were married a long time?
<frank> y, massive
<frank> y
<gary fullett> I can imagine the shock
<gary fullett> remeber when poeple were day trading stock
<gary fullett> in the begiining of the yr
<frank> y
<Zack> Gary, usage question please
<frank> y
<gary fullett> as the nasdaq was skyrocketing
<gary fullett> please ask zack
<Zack> If you want to send a private message to someone can you just check the private square on the board?
<Zack> Or do you have to use the < > marks
<gary fullett> yes highlight thier name
<gary fullett> and click on private
<gary fullett> go to the right
<gary fullett> click on and highlight thier name
<gary fullett> then click the private button
<gary fullett> to send private email
<nagual> and dont forget to undo private to go back to regular chat
<gary fullett> so everyone thought daytrading stocks was the "thing to do:
<Zack> OK Got it
<Mark> yes, easy money
<gary fullett> well look at march of this yr
<nagual> i was one of them
<gary fullett> look at the highest volume
<Mark> make money i hope nagual?
<gary fullett> please Note this is a weekly chart
<nagual> lost money eventually
<gary fullett> see the wide range and heavy volume on that wekely in march?
<lmarsh> y
<gary fullett> this to me was a buying climax
User [Guest /24.7.3.63] joined forum on Tue Oct 10 21:29:18 EDT 2000
<Mark> definitly
<gary fullett> it was excessive euphoria
<gary fullett> look at the weekly ranges
<Mark> ranges were huge
<gary fullett> yes can u see this.?
<lmarsh> y
<Mark> y
<gary fullett> then look 2 weeks later
<Terry W> y
<gary fullett> the market had a break
<gary fullett> look at that volume on that break
<gary fullett> still pretty heavy
<Guest> Ms Cohen spooked it
<gary fullett> who?
<Guest> A B cohen
<gary fullett> abbey cohen?
<Guest> y
<gary fullett> okay
<gary fullett> thought that is what u meant
<gary fullett> look what happened after that break
<gary fullett> the market rallied
<gary fullett> to over 4k
<gary fullett> so the nasdaq went to about 5 k
<chris>
<gary fullett> then broke to about 3 k
<gary fullett> then rallied about 50 percent back to 4
<Mark> this is distribution?
<gary fullett> then the market formed a trading range
<gary fullett> with about 4100 as resisatnce
<gary fullett> and about 3200 support
<gary fullett> but thta was not so well definned yet
<gary fullett> but the sideways move fom april to now
<gary fullett> is all distribution
<gary fullett> why do I say this ?
<gary fullett> because in march it appears to be a BC
<gary fullett> and if it was
<gary fullett> then the rally that we had
<lmarsh> getting ready to start new trend?
<gary fullett> was distribution after the BC
<gary fullett> and the sign of weakness
<gary fullett> couild test
<gary fullett> 2600
<gary fullett> the previous highs back last oct
<gary fullett> I drew this line
<gary fullett> I thought today that the amrket would test yesterdays lows in the s and p
<gary fullett> and hold and rally
<gary fullett> but I was wrong
<gary fullett> this market is now in alot of trouble
<gary fullett> as we are now Lower for the whole yr!!!!!
<gary fullett> so u see the BC
<gary fullett> then sign of weakness
<gary fullett> the retest and the range
<gary fullett> the market building cause as distribtuion
<gary fullett> and now more weakness ?
<Zack> It's one of the biggest bubbels I've ever see--from a valuation point of view. Time to come back to reality?
<gary fullett> do u see htis action
<gary fullett> I think so zack
<Mark> agree zack
<gary fullett> and the stocks are prob still overvakued
<Mark> earnings count,
<gary fullett> eventaully in stocks
<gary fullett> it boils down to earning
<lmarsh> oh yeah
<Zack> What earnings?
<gary fullett> and the dont have the earnings to justify the large PE
<Mark> right
<chris>
<gary fullett> earning over the past few months
<Zack> The more Amazon lost the higher it got :)
<Mark> pe's have been way out of line even for growth stocks
<gary fullett> treu zack
<Mark> last year
<nagual>
<gary fullett> we dont talk alot obout stocks
<gary fullett> but I think it is approapite now
<Mark> market behavior is interesting, and I am glad we are
<gary fullett> it is important
<gary fullett> to talk about stocks now
<gary fullett> because if money come out of the stock market where do u think it will go?
<nagual> I think it could go down to 2000
<lmarsh> commodities!
<nagual> commodities
<Mark> bonds, mutual funds
<Terry W> hard assets
<Mark> real estate trusts
<gary fullett> I think all those places
<gary fullett> money has to go soemwhere
<gary fullett> and if it leave stocks it will be diversified in lots of other places
<gary fullett> I sent charts that we in consolidation
<gary fullett> so we can see if they break out
<gary fullett> as money leaves stocks
<gary fullett> so if the 290 area doent hold
<gary fullett> I think 2600 will be tested
<gary fullett> but lots of stocks wont recover
<gary fullett> on the next rally
<Mark>
<gary fullett> do u see this action in the nasdaq?
<gary fullett> any questions
<gary fullett> the point is on the weekly it appears to be a BC
<gary fullett> and then a sign of weakness
<Terry W> why is sow before distribution?
<lmarsh> it is interesting
<gary fullett> that is a tip off to other CMs that the next trading range will be distibition
<gary fullett> and Not accumaltion
<gary fullett> sometimes the break from the BC isnt as large so it dones qualify as a sign of weakness
<gary fullett> But in this case
<gary fullett> with the price action and volume
<gary fullett> I think the BC
<gary fullett> and the sign of weaness happened within a month
<Mark>
User [Guest] left forum on Tue Oct 10 21:49:32 EDT 2000
User [Kurt /209.208.29.162] joined forum on Tue Oct 10 21:49:47 EDT 2000
User [Guest /24.7.3.63] joined forum on Tue Oct 10 21:49:51 EDT 2000
<nagual>
<Kurt> hi everyone, sorry I'm Late
<gary fullett> great question Terry
<gary fullett> does that help
<Mark> hi kurt
<gary fullett> Hi kurt
<Kurt> hi
<gary fullett> any questiosn on th nasadq
<gary fullett> it looks clear to me
<Terry W> October crash?
<Mark> good chart to show bc
<Mark> and volitility
<gary fullett> I hope it is clear
<lmarsh> good job
<gary fullett> I mentioned to someone about a month ago that the nasdaq was weak at that time
<gary fullett> it is differnt from the s and P though
<gary fullett> and I thought then it would get to the 2900 area
<gary fullett> on a retest
<gary fullett> watch other markets if peopel come out of the nasdaq
<Guest> for the short term we are about to have some support @ 3150
<lmarsh> got to leave , see y'all tomorrow. & thanks. nite
<Zack> Gee Gary, Friday the thirteenth coming up--Black friday for the Nasduck ?
<gary fullett> night lmarsh thanx
<Mark> good night lmarsh
User [lmarsh] left forum on Tue Oct 10 21:54:31 EDT 2000
<Mark> just for me zack
<gary fullett> could be interesting zack never look at the calander
<Mark> laast tax extension
<Guest> lol zack
<gary fullett> watch other markets if peopel come out of the nasdaq
<Mark> time to ummm, face the music
<nagual> friday is full moon also
<gary fullett> Rap music lol
<Zack> Oh-Oh
<gary fullett> r u a werewolf nagual?
<Mark> in any case, where do you think the money will go gary?
<gary fullett> Im trying to figure that out mark :)
<gary fullett> I think markets that are consolidatig now will break out to the upside
<gary fullett> and I am trying to find those.
<Zack> Some could move into the old Gold market. It used to be famous for that
<gary fullett> I would think the metals would benifit
<gary fullett> they have been going sideways
<gary fullett> for a long time
<Zack> It wouldn't take much--very thin market relatively speacking
<Terry W> gold if dollar breaks also
<chris>
<Mark> do you think the institution money will end up more in the widows and orphans stock?
User [Henry /209.99.126.16] joined forum on Tue Oct 10 21:57:14 EDT 2000
<gary fullett> could well be
<Mark> i have a hard time believing alot of new money will come in to futures
<gary fullett> I think that commodities will get some maybe bonds
<Mark> because it is perceived as riskier
<Mark> actually is not in my view, only higher leverage
<Zack> Riskier than the dot.com's ?
<Mark> not to me zack
<Zack> 90% losses not risky?
<gary fullett> well I dont think lots of money will come into commodities
<gary fullett> but they will get some
<Mark> actually is not in my view, only higher leverage
<Mark> dot coms are not risky to short
<gary fullett> but some of billions is alot
<Mark> agree gary
<Mark> surprised there has not been more casual traders come in
<Mark> then whine when they lose there money , and cmplain about the lack of margin requirements
<gary fullett> remeber the futures markets though fairly large
<Mark> huge in dollars
<gary fullett> just a piece of sand on the beach to stocks
<Mark> yes
<gary fullett> so 1 percent infused into commodties will have an impact
<Mark> ahaa
<Mark> see the point you are making
<Mark> agree
<gary fullett> that is why
<gary fullett> one must watch sideways action
<gary fullett> as the stock amrket moves
<gary fullett> and other markets are sideways
<gary fullett> it will lead to a move
<gary fullett> sideways building cause.
<Guest> commodities are good for trading not for leaving money in
<gary fullett> very true guest
<gary fullett> but money can go from commodity to commodity
<Mark> very fluid
<gary fullett> questions on nasadq or the discussion of money flow?
<Guest> whoever have retirement account in stocks will not start stading futures
<Guest> trading i mean
<Zack> I can't imagine the money flow into other commodities if even a small part of the S&P moves into them
<gary fullett> why not zack?
<Mark> you mean cattle trading is not as sexy as dotcoms zack?
<gary fullett> metals bonds?
<Zack> The volume in $$ in the S$P is so huge
<nagual>
<gary fullett> true very treu
<Terry W> remember, these futures have cash markets also
<Guest> because of 1 contract cost, s&p
<gary fullett> that is right terry good point
<Zack> I would think that all the physical Gold & Silver could be taken up bu a small % of the S&P volume
<gary fullett> it wont take much money to move them zack
<gary fullett> brb 1 minute please
<Kurt>
<Zack> If delivery on the metals were taken--the price would be out of this world.
<Guest> looking back to last year worries on naz, so small...
<Zack> Bunker boys tried it in Silver--forced the exchange to change their rules
<Mark> ? zack
<Zack> Old story Mark--
<Zack> bunker brothers took delivery of Silver in order to corner the market
<nagual> now coffee !!! just kidding
<Zack> Silver went to 50.00
User [Joe K /172.167.130.79] joined forum on Tue Oct 10 22:10:59 EDT 2000
<Mark> the hoarding scheme
<Joe K> Whats Up Wyckoff Pups !
<Zack> Hey--it's petro Joe
User [sherri /207.112.162.131] joined forum on Tue Oct 10 22:11:31 EDT 2000
<Mark> hey joe
<Joe K> Ya mean Sugar smack Joe !
<Joe K> ouch !
<Joe K> lol
<Zack> Hi Sherri
<sherri> hi
<gary fullett> sorry
<gary fullett> im back
<Kurt>
<Joe K> Who's that coffee guy in the corner ?
<Joe K> lol
<gary fullett> okay
<gary fullett> next chart
<Joe K> Anyway, whats subject ?
<gary fullett> coffee
<gary fullett> hey sherri and Joe
<gary fullett> coffee is interesting here
<sherri> gary........is it true that MrJ got killed?
<gary fullett> as it has been recently
<gary fullett> though slow it maybe ready soon
<gary fullett> yes it is very sad sheri
<gary fullett> we talked about him tonight
<gary fullett> and gave him a moment of silence
<sherri> sorry...just got a e-mail...........
<gary fullett> that is okay
<sherri> bye now
<gary fullett> we are all brethern here
User [sherri] left forum on Tue Oct 10 22:14:46 EDT 2000
<Joe K> Sorry I missed that, he will be missed and remembored
<gary fullett> coffee
<gary fullett> has been range bound from
<gary fullett> 6400 area
<gary fullett> to 7750 area
<gary fullett> 8400 not 6400
<frank> good night
User [frank] left forum on Tue Oct 10 22:15:48 EDT 2000
<gary fullett> what is interesting
<gary fullett> is that
<gary fullett> the market has alot of neg news
<chris>
<gary fullett> and refuses to break
<gary fullett> the volume is light
<gary fullett> but as I said many many times
<Mark> accumulation I think here
User [Guest] left forum on Tue Oct 10 22:16:56 EDT 2000
<gary fullett> if a market doesnt react the way the trend is
<Kurt>
<gary fullett> after a while
<gary fullett> the trend may change
<gary fullett> well coffee seeems to be doing this
<gary fullett> the ice area
<gary fullett> is at the 7750
<Mark> it has to at some point
<gary fullett> if we get underthat
<gary fullett> we can trade 7100
User [Henry /209.99.126.16] joined forum on Tue Oct 10 22:18:27 EDT 2000
<Terry W>
<Mark> do you think that will happen with the support it has gotten at 77 to 79?
<gary fullett> henry hit enter every few minutes so u dont get kicked out
<Henry> ok
<gary fullett> I think that th 7830 area
User [Scrooge McDuck /206.71.97.87] joined forum on Tue Oct 10 22:19:50 EDT 2000
<gary fullett> has been tested about 4 times now
User [Scrooge McDuck] left forum on Tue Oct 10 22:20:00 EDT 2000
<gary fullett> and today the amrket acted well
User [Zack /206.71.97.87] joined forum on Tue Oct 10 22:20:09 EDT 2000
<gary fullett> so it appears thjat we can trade back to the 8225 area
<gary fullett> this light volume to me means
<gary fullett> that the shorts are comfortable being short
<gary fullett> and that they dont want to sell more either
<Joe K> One thing that concerns me here Gary
<nagual> and there are 3700 short in funds alone
<gary fullett> the market breaking
<Mark> they will stay short until there is a specific action to not be short?
<gary fullett> last week was attempted on light volume
<gary fullett> right mark
<gary fullett> but as I said to u all last week
<gary fullett> that friday rally of 700 points
<gary fullett> with in creased volume was significant
<Mark> initial sos?
<gary fullett> if we get above that high we can trade ice at 8900
<nagual> 29sept with 12k volume
<Henry>
<Joe K> When the market is in a range, the Cm seeks too move it, well we still havent got a SC, or a nice spring yet , nor have we a big news event for CM too rally arround, however we do have 3 months of accumulation
<Mark> we may not get a sc here
<Joe K> true
<gary fullett> very well said joe
<gary fullett> it may be a rounded botom
<gary fullett> rare but possible
<Mark> think it will just drift down
<gary fullett> there are severla scernios
<Mark> until there is a reason to rally
<gary fullett> as I said
<gary fullett> 1 a break of the ice at 7750
<Mark> the momentum down is small now
<gary fullett> then it will go into preliamry support
<gary fullett> then a rally back to 7750 area
<gary fullett> then a selling climax
<gary fullett> or
<gary fullett> we can raly above 8500 area
<gary fullett> then go toice at 8900
<gary fullett> back to 85 then a rally to over a buck
<Zack> Looks like a "stand aside" untill we see more clues to direction
<gary fullett> but the friday rally 2 weeks ago is very very significant to me
<gary fullett> becaus eit was a rally with wide range and good volume
<gary fullett> needs to see demand
<gary fullett> u r right zack
<gary fullett> a more conserative approach
<gary fullett> is to wait for demand
<gary fullett> then a retest
<nagual> or play iy with tight stops
<gary fullett> ideally a raly to 8900 then a retest to 8500-8400
<gary fullett> U can trade it intradday
<gary fullett> with 100 point stops or so
<gary fullett> but needs demand to prove the up
<gary fullett> and even after demand u can buy
<gary fullett> only on the retest
<gary fullett> for safety reasons
<Mark> yes
<nagual> retrace 50% to 8350/8400 from 8900
<Joe K> Fundamentally we have 3 things that could make a case for demand, Stocks report mid Oct, showing decrease for first time this year, Retention getting serious, and dry weather
<Mark> estblish a support area for stops?
<gary fullett> thank you nagual
<gary fullett> under 7800 mark
<Joe K> CM may use any of these too spark something
<Mark> right
<gary fullett> good point Joe
<gary fullett> very good point
<Joe K> need to break 85 on good volume for me to get long
<gary fullett> that is a good level
<gary fullett> a swell
<gary fullett> as well
<gary fullett> watch the volume
<gary fullett> and price action over the next few days could be very important
<nagual> watch out for friday might top this small rally
<Henry>
<gary fullett> nagula do u have a commnet on coffee?
<Joe K> I watch my Nagual meter too !
<Mark>
<Joe K> lol
<Mark> agree joe
<Zack> Why Friday Nagual?
<Mark> when he gets amped for coffee prices i will too
<Joe K> yup
<Kurt>
<chris>
<nagual> watch around oct 23 to move up again
<nagual> either thursday or friday but i dont think any later.The reason is a secret!!LOL
<gary fullett> lol
<Joe K> lol
<nagual> cycles of everything in the Universe
<Henry>
<gary fullett> this range will lead to a mve
<gary fullett> and no other market move slike coffee when it moves
<nagual> then either sideways or down and then around 23rd october to move up again
<Terry W>
<Joe K> Well Silver maybe from what I hear
<Joe K> :)
<Zack> So what are you saying Gary? Make like a "boy scout" and be prepared?
<gary fullett> yes always be prepared in this buinsess
<Joe K> sounds like a plan Zack
<nagual> watch it like a fox
<nagual> that is what i do everyday everyminute of the trading coffee day
<Joe K> If I know you Nagual, I'll just bet you never left the trenches
<Joe K> lol
<nagual> no
<Joe K> see, I knew it
<nagual> it is my only business
<Joe K> I know, and I've seen what you can do
<gary fullett> a coffee trader huh ?
<Joe K> You have nerves of steele
<Zack> Sounds like it might be time for a bull spread?
<Joe K> seriously
<nagual> let us get the market to trend and we will do beauties
<Joe K> agree
<gary fullett> do u think march options are thew way to play it nagual?
<nagual> it could be good
<Joe K> He's a Futures man !
<Joe K> lol
<gary fullett> is ther ea seasonality for coffee?
<Mark> me too, but not in coffee
<Zack> Too little time left in the Dec. Nagual?
<gary fullett> coffee can move folks
<nagual> i dont rely on that.I am more of ashort time trader
<gary fullett> the more sideways more cause Larger the move
<gary fullett> so coffee is basing
<gary fullett> and has a 4 month trading range
<Joe K> I think Coffees seasonals are right now and in the frost season, if your looking long
<gary fullett> meaning when it moves it will be large
<nagual> yes,little time.But if i were buying calls dec i rather paymore money like at the money or so
<gary fullett> so u have the support and resisatnce in coffee
<gary fullett> and it needs to bewatched at those critical numbers
<Joe K> I will say this, withen 3 years, there will be an absolute fortune opertunity too be made in coffee again
<Joe K> watch the cycles
<nagual> in one year we had made good money
<Mark> agree joe, definitly
<Zack> Yeah Joe but the premium on three year options is probably pretty high :)
<nagual> lol
<Mark> lol zack
<Joe K> lay low until you see it coming
<nagual> way out of the money
<Joe K> and you will
<gary fullett> they dont call him java joe for nothin"
<Mark> all the cm's have to be tipped off
<Mark> like the friday gary spoke of
<Mark> ? weeks ago
<Mark> initial support
<Joe K> Well it boils down too many fundamentals in coffee, but the ranges can be seen with Wyckoff
<Mark> yes
<gary fullett> the ranges now can be seen in coffee
<Joe K> but its tricky here
<Joe K> Cm wise
<gary fullett> just range bound here
<nagual> and even like the one now you can make money here and there
<gary fullett> but it il move
<Joe K> yes
<Joe K> right Zack ?
<Joe K> lol
<Kurt>
<Zack> :)
<chris>
<gary fullett> for the CM to move it\
<Joe K> Zack I think Silver is getting funky
<gary fullett> prob to what Joe said
<gary fullett> questions on coffee
<gary fullett> I do want to mention silver
<nagual> watch carefully rains after 15oct,that is very important
<gary fullett> dry now huh nagual?
<nagual> news are creeping in little and fear you can sense
<gary fullett> as we talk about before silver has a nice trend line
<gary fullett> from 485
<gary fullett> then 489
<gary fullett> then 492
<gary fullett> so far all those supporta held
<gary fullett> to u see that?
<gary fullett> and the resisiatnce has held as well
<gary fullett> th market is in a trangle
<gary fullett> or pennant
<gary fullett> see this ?
<Zack> Silver is being squeezed into a tighter and tighter triangle. It will break one way or another soon. Inclined to think upwards but needs demand
<Terry W> y
<nagual> why the trending lines and nort horizonta?
<gary fullett> higher lows lower highs
<gary fullett> great q nagual
<gary fullett> I got tired of horionatl lines lol
<gary fullett> actaully
<gary fullett> this market is not range bound that way
<gary fullett> there is not a horizonatl floor or support
<Mark>
<gary fullett> or a horizontal resistnce or ceiling
<gary fullett> the trendlines seem to be a better indicator of what the amrket is doing
<gary fullett> not many times does this happen this way
<gary fullett> but markets are markets
<Zack> Gary, there is if you use a downward slopping channel from last Feb.
<gary fullett> and need to be judged by it own charateristics
<Zack> Almost perfect channel
<Henry>
<gary fullett> in this case lower highers
<gary fullett> and higher lows
<Joe K> 500 is horizontal sugnificance i think
<gary fullett> I would say within 2 weeks
<gary fullett> this market will break out
<gary fullett> 502 to me is important
<gary fullett> then 508 then 523
<gary fullett> support 492
<gary fullett> then 488 then 495
<Joe K> yup
<gary fullett> watch the volume at thse points i mnetioned
<nagual> it is both ascending and descending triangle
<gary fullett> and the reactions from these areas
<gary fullett> correct nagual
<nagual> so it is tricky
<Joe K> I've notice lots of spikes in Jan, any reason why ?
<gary fullett> this MUST be watched for a move
<gary fullett> not that i know of Joe
<Mark>
<Joe K> wow nagual it is
<Kurt>
<gary fullett> I think 508 is key
<Joe K> maybe false breakout, like a snail, and boom
<gary fullett> above it we can fly
<Zack> At 5.08 the down channel is definetely broken
<Joe K> gary notice any abnormal volume or demand recently dail session wise
<gary fullett> not really Joe greta point though
<Mark> most are on sidelines waiting
<gary fullett> if i do this will mean an impending move
<gary fullett> the funds wait
<gary fullett> for a break out
<gary fullett> when it does break out volume will pick up big time
<Joe K> or probably like me, shaking off the dust on my 525 dec call lol
<gary fullett> funds are trend followeres and breakout traders
<nagual> yes
<Henry>
<Zack> From the looks of the chart I would say that a move will occuer in a very short time frame
<gary fullett> so watch volume and price action
<gary fullett> at key points
<gary fullett> the metals will give u a large move
<Joe K> i hope so zack, it would be very nice
<gary fullett> within 2-3 weeks I think zack if not sooner
<nagual> i agree on 3 weeks
<nagual> o2 2 1/2
<Zack> I agrre--within two weeks
<Joe K> 10 days here !
<Joe K> lol
<gary fullett> before the election huh?
<gary fullett> lol :)
<Joe K> lol
<Zack> October 27, at 11:00 A.M.
<Joe K> they need some possitive news, energy is gonna kill em winning any hearts
<nagual> that is zacks secret
<Joe K> thanks zack
<Zack> New Moon :)--all is cycles Nagual :)
<gary fullett> I htink u can be lightly long here
<gary fullett> above 508
<gary fullett> i think definetly in my mind
<Joe K> as long as i dont get that teasing stuff, 507, 509, close 505
<Mark>
<gary fullett> 2 closes abovve 508 will be important
<Kurt>
<Joe K> agree
<gary fullett> I want to mention energies for a moment
<gary fullett> The market to me is getting cloase to monthly resisatance
<Mark> time to go for me, see you all later
<gary fullett> bye mark thanx
<Mark> ty gary
<Joe K> gary do springs occur in markets that have just came back up recently
User [Mark] left forum on Tue Oct 10 22:59:30 EDT 2000
<gary fullett> sometimes
<Joe K> any Lumber views
<Henry>
<Joe K> SC ? at all
<gary fullett> I think lumber if it gets abob 241 bullish
<Joe K> k
<gary fullett> crude oil can test 40 bucks
<gary fullett> gulf war highs
<gary fullett> needs more cause or trading range in lumber
<gary fullett> watch OJ
<Joe K> like to see Ho at 120-130
<gary fullett> that market may have had a SC
<gary fullett> u may see it tonight :)lol
<Joe K> lol
<gary fullett> 10250 tonight
<Henry> lol
<Joe K> cool
<gary fullett> I wil discuss energies tomororw in more detail
<Joe K> I think Natural Gas will be up very soon
<Joe K> ok sorry
<gary fullett> i just wanted to mention a sentence or 2 now
<gary fullett> thats okay Joe talk aways LOL :)
<Joe K> sugar thoughts
<Joe K> growling
<gary fullett> whew they got me there
<gary fullett> i thought ice was at 1000-1019 area
<gary fullett> and when it didnt break hard the other day
<gary fullett> it loked like it was abosrobing some upply
<gary fullett> supply
<Zack> Might Sugar just have been a prelim
<gary fullett> I was wrong here
<gary fullett> it went to new highs today
<Zack> on it's way up?
<gary fullett> but weekly high is 1103
<gary fullett> then 1111
<gary fullett> couldbe zack
<gary fullett> I wouil think that if sugar breaks tomorrow it could be a retest of rresisatnce at 1070
<nagual> good nite all
<Joe K> night hombre
<Zack> nite Nagual--thanks
<Kurt> nite naual
User [nagual] left forum on Tue Oct 10 23:05:19 EDT 2000
<gary fullett> so tomoorow will be important
<gary fullett> it could be an upthrust above 1070
<gary fullett> and stopped at weekly resistance at 1103
<Joe K> got me plenty wondering
<gary fullett> but the amrket acts well
<gary fullett> better than I thought cost me today though
<gary fullett> I will get em
<gary fullett> lol
<Joe K> good
<Zack> lol
<Henry> lol
<Joe K> send em my love too
<Joe K> lol
<gary fullett> dont like NYers taking my money :)
<Joe K> agree
<Joe K> anyone but ny
<Joe K> lol
<gary fullett> or from NC
<gary fullett> any other questions tonight?
<Joe K> they get plenty as it is
<gary fullett> commnets
<gary fullett> market ideas
<Joe K> Gold ?
<gary fullett> ect,,
<Joe K> quicky
<gary fullett> I think gold above 277 will retest 282
<gary fullett> bove that I think294
<gary fullett> will react with silver can bbe very bullish
<Joe K> close today for front month gold ?
<gary fullett> 25710
<gary fullett> 27510
<Joe K> 77 ya mean
<Kurt> have to go guys, nite and thanks gary
<Joe K> ok
User [Kurt] left forum on Tue Oct 10 23:08:42 EDT 2000
<Zack> Thanks Gary. Nite.
<Henry> gotta go ... thanks gary..
<gary fullett> well I will see u all tomororw night
<Joe K> Thanks Gary and all
<gary fullett> same bat time same bat station
User [Zack] left forum on Tue Oct 10 23:09:13 EDT 2000
<gary fullett> good night all
User [gary fullett] left forum on Tue Oct 10 23:09:21 EDT 2000