User [gary fullett /204.233.213.78] joined forum on Wed Jan 23 21:00:35 EST 2002
<Zack> What browser are you using when you have problems??
<Kenny> mine does that sometimes
<gary fullett> good evening
<George> hi gary
<Zack> Hey Gary
<gary fullett> how is everyone tonight
<Holland> good
<Ray> fine
<Kenny> Hi Gary
<Jairo> good. hi gary
<George> ie 6.0
<scott> summer here in fl gary
<Ray> And you, Gary?
<Ray> Did you have a hard day?
<gary fullett> well thank u
<Ray>
<maurice>
<Holland>
<gary fullett> normal day here
<George> good
<Ray> Normal day here too. ie. hard day :)
<gary fullett> lol
<maurice> A normal 20 hour fay? lol
<Zack> Busy day for me--short staffed--had to cover some extra bases :)
<gary fullett> thats good
<gary fullett> only 4 bases
<George> Gary i was looking at cocoa and we are going thru the 9 phases of dis on it as well as oats
<Zack> More in my ballpark GAry :)
<George> it is
<gary fullett> lol
<Kenny>
<gary fullett> i would agree
<George> I just can't put the teaching down
<George> when i get home
<gary fullett> the cd discs will help
<gary fullett> goes into alot of detail that I cant go into
<George> yes defenitely
<George> can't spell tonight
<Kenny> its great
<gary fullett> lots o schematics
<gary fullett> I cnat type any day
<gary fullett> cant LOL
<Ray> Gary, is there some way to donate the money from this to a Wyckoff project of some sort?
<George> good thing i have my dictionary close by
<Zack> Looks like everybody else will have some work to do to catch up with you George :)
<gary fullett> before I begin any questions?
<gary fullett> by presidents day george will know all of wyckoff
<gary fullett> and will be taching class
<George> lol
<Ray> Of course, I have questions!
<gary fullett> by the way wyckoff couldnt type on a computer either
<gary fullett> I knwo that for a fact
<gary fullett> so we are in good company
<Zack> LOL--only used an abacus eh ??
<maurice> lol
<gary fullett> yep
<Ray> How about a typewriter?
<gary fullett> drew lines in the sand
<George> I learned knowledge is power information is how you get it
<gary fullett> maybe he used one not sure
<gary fullett> yes geoerge
<gary fullett> q ray?
<Ray> If you see a buy, like a good retest of a JOC, but the markets (Index for stocks) are headed down, do you buy the retest, or wait until the markets (Index) turns up?
<gary fullett> that is a great great great q
<Ray> Sorry to talk about stocks, but I don't know if it's the same as comodities.
<gary fullett> thats fine ray
<Ray> You don't mind?
<gary fullett> Nope
<Ray> Thanks
<gary fullett> the answer would be that u should buy that stock
<gary fullett> becuase the market may rally for a time
<gary fullett> before it heads down again
<gary fullett> so uiu may reach your objective on a reation rally and make money
<gary fullett> so if u see a wyckoff trade u should take it
<scott>
<gary fullett> that si why i like to trade commodties ray
<gary fullett> because u dont have a situation like that
<gary fullett> where the general market
<gary fullett> or a sector is down
<gary fullett> buit u wish to buy a stock
User [greg /209.216.171.104] joined forum on Wed Jan 23 21:11:06 EST 2002
<gary fullett> and in commodties
<gary fullett> u can sell as easy as buy
<greg> hi all
<gary fullett> but not in stocks
<gary fullett> hi greg
<Ray> Yes, going short is a drag!
<Zack> Plus you still have a lot of "irrational exhuberance" in a lot of stocks :)
<gary fullett> does that make sense ray?
<gary fullett> does that help?
<gary fullett> lol
<Ray> yes, it does.
<Ray> thanks!!!!
<gary fullett> esepcailly a retest of creek
<gary fullett> it is the safest buy for u
<gary fullett> also
<George>
<gary fullett> u should determine your cause
<Holland>
<Kenny>
<gary fullett> so if u have cause for a stock
<gary fullett> of 4 bucks
<gary fullett> in a downtrend
User [Wally /66.218.6.39] joined forum on Wed Jan 23 21:12:51 EST 2002
<George> Zack which browser do you use?
<gary fullett> U must get out
<gary fullett> becuase
<George> hi wally
<gary fullett> the general market may take it down
<gary fullett> so your cause should tell u when to liquidate
<Wally> hi guys!
<gary fullett> hi wally
<Ray> I only go short when I think it's a disturbition phase.
<maurice> hi Wally
<greg> hi wally
<Ray> in case the cm takes it down, I'm on the correct side.
<gary fullett> good:)
<gary fullett> great q though
<greg> gotta go, got company tonight, c u all tomorrow
<gary fullett> short and sweet
<gary fullett> hmmm
<greg> :)
User [greg] left forum on Wed Jan 23 21:14:54 EST 2002
<gary fullett> somehting I said huh :)
<George> night greg
<Ray> But I am finding that too many times I just get scared out of the trade, and then watch it run after I'm out.
<gary fullett> george too late
<gary fullett> lol
<George> i see
<gary fullett> thats okay rya thats a good habit
<gary fullett> money monagement
<Zack> Ray--when you get scared you may want to consider tightening up your stop rather then geting out
<Ray> Yes, I suppose you are right, because if I stay in, it just get worse.
<Zack> Providing you are at break even or better
<Wally> I hate stops
<gary fullett> u will find the longer u trade the faster u run
<Zack> You won't survive for long without them Wally :)
<gary fullett> if u think u r wrong get out
<Wally> they always cost me money
<Ray> Yes, Zack, I am finding out that is is important to get in AT the resistance, and not wait to see if it's going to go.
<Ray> or support
<Zack> Wally---the first rule in commodities is ---SURVIVAL
<Kenny> but without them they will cost alot more
<Wally> I know, I do have mental stops
<gary fullett> good wally
<gary fullett> mental is good
<Zack> Without stops you better have a haair trigger and the guts to pull out fast when it starts to go against you
<Wally> right!
User [steve /165.247.11.2] joined forum on Wed Jan 23 21:19:01 EST 2002
<George> hi steve
<Ray> Yes, Zack, I use mental stops also, and I guess I got to many guts, because I get out to soon sometimes.
<gary fullett> hi steve
<steve> hi george an dgary
<Ray> :)
<gary fullett> I know great traders that use mental stops
<gary fullett> and do well
<gary fullett> and I know great traders who place stop s and do well
<gary fullett> whatever your niche is
<gary fullett> if u use mental stops
<Zack> Gary gave a good talk on the proper use of stops a while ago---check the archives for that session
<gary fullett> U MUST be dispilined
<gary fullett> sometimes u may leta postion
<gary fullett> go against u more than u want
<gary fullett> but thinking that u will be rigght
<gary fullett> so risking more sometimes is okay
<gary fullett> if the longer term
<gary fullett> u feel that u r right
<gary fullett> does that make sense/
<gary fullett> but the good thing about getting out with a loss
<gary fullett> is that U CLEAR YOUR HEAD!!!!!
<Kenny> no1 rule never trade with out a stop
<Ray> Yes, Gary, I did that today. Tommorrow we'll see if I was smart or dumb! :)
<gary fullett> so either a mental stop or one in the pit should be used
<George>
<gary fullett> kelly great point
<gary fullett> ken
<Holland>
<gary fullett> not kelly
<gary fullett> Kelly never has great points ::LOL
<Kenny> lol
<Ray> I'm send her an email with that quote on it!
<gary fullett> :)LOL
<gary fullett> she will see it in the archives :)
<Zack> Oh I don't know GAry--I can think of a couple of good points about Kelly :):)
<Ray> Gary, can we discuss Kelly tonight?
<gary fullett> when u get a chance let me know LOL
<gary fullett> sure we can
<gary fullett> go ahead ray
<Ray> I don't know a thing, I'm waiting for the teacher.
<gary fullett> lol
<gary fullett> okay
<gary fullett> any other questions?
<Holland> Don't know kelly but she did a good job on the CD.
<gary fullett> did u like the way the cd came out holland?
<George> Gary when are you going to put your picture on your web site?
<gary fullett> I thought she did a great job
<gary fullett> u dont want to see me
<gary fullett> U barely want to hear me
<Wally>
<George> lol
<gary fullett> I look the way I type
<gary fullett> I can tell u what I look like and u dont need to se a pic okay
<gary fullett> if anyone is interested
<George> k
<Holland> 6'3'' 220# ?
<gary fullett> NOOOOOOOOO
<gary fullett> not close
<Zack> Put Kelly's picture on the site---I'm sure she is better looking :)
<gary fullett> anyone watch the show Seinefeld?
<gary fullett> Mush better
<maurice> y
<gary fullett> Much not mush
<Kenny> y
<gary fullett> I look like one of the charaters
<gary fullett> in fact I was asked for autographs
<Zack> George?
<gary fullett> as I walked the street
<Ray> George's father.
<gary fullett> so I sign ed it that
<gary fullett> what about george
<gary fullett> he is here :)
<Ray> the character in Singfield
<Zack> From the show?
<gary fullett> Yes I look like george
<gary fullett> Yep zack wins the pointy hat
User [shrooms /199.174.168.174] joined forum on Wed Jan 23 21:27:27 EST 2002
<gary fullett> now u dont need a pic
<gary fullett> hi shrooms
<gary fullett> okay
<gary fullett> any other q
<Ray> This is one I've had for a while, but never ask.
<Holland> Gaybwhen you talk about Wyckoff you sound like you are 6'3"
<gary fullett> why not 6 ' 4
<gary fullett> okay ray please
<Jairo> :p
<Ray> I can't get the copy to work
<Wally>
<gary fullett> what copy?
<steve>
<Ray> You are always saying that price should react good
<George> be right back
User [George] left forum on Wed Jan 23 21:29:26 EST 2002
<Ray> but what should I expect if the reaction is NOT good.
<gary fullett> the trend to contunue
<gary fullett> i will explian
<Wally> good
<gary fullett> about reactions tonight
<gary fullett> okay
<Ray> I would love to hear it.
<gary fullett> i had several q on that from clients the last few days
<gary fullett> and u will
<gary fullett> tonight is wyckoff principles
<maurice>
<Holland> jump across the river with point and finger charts?
<gary fullett> 1 minute please
<scott>
<Wally>
<gary fullett> then we will begin
<gary fullett> I will talk on reactions
<gary fullett> and what to look for okay
<gary fullett> this will be good for u
<gary fullett> so take good notes :)
<Ray> thank god for archives!!:)
<gary fullett> lol
<gary fullett> okay lets begin
<maurice> Thank Kelly for archves
<gary fullett> firrst u must keep in mind time frames
User [George /65.69.98.176] joined forum on Wed Jan 23 21:34:02 EST 2002
User [steve] left forum on Wed Jan 23 21:34:09 EST 2002
<gary fullett> that si importan
<Kenny>
<gary fullett> and u mut keep perspective
<George> gary are you bald also?
<gary fullett> not fully
<gary fullett> must
User [steve /165.247.11.2] joined forum on Wed Jan 23 21:34:39 EST 2002
<George> i checked out the seinfeld web page just now
<Wally> bald is beautful
<gary fullett> lol
<gary fullett> in a down trend
<gary fullett> supply is eveident
<gary fullett> right?
<gary fullett> or selling
<Wally> y
<gary fullett> so it is demand that Must prove itself for strenghth
<gary fullett> lets say
<gary fullett> beans are in a down trend
<gary fullett> last weeks high was 440
<gary fullett> the low this week was 420
<gary fullett> so far so good?
<Ray> yes
<George>
<gary fullett> the market is breaking back to support at 420
<gary fullett> we know supply is evident
<gary fullett> but we know 420 is a retest of support right?
<Wally> y
<Ray> y
<scott>
<Kenny> y
<George> y
<George> would you say this is a retest of sc
<gary fullett> I am talking about a trading range
<gary fullett> 440-420
<George> k
<gary fullett> so we get to 420
<gary fullett> the volume isnt heavy or light
<gary fullett> then the market picks iup volume
<gary fullett> and the market rallies to 430
<gary fullett> so on the rally the volume picks up
<gary fullett> is this bullish or bearish
<gary fullett> mind u we havent taken out 440 yet
<Ray> bullish
<Wally> bullish
<Jairo> bullish
<maurice> could be either
<George> bullish reaction from support
<George> demand has surfaced
<gary fullett> correct
<gary fullett> maurice right to a degree
<gary fullett> but not where I am going here :)
<maurice> k
<gary fullett> okay
<gary fullett> so the volume picked up on the rally
<gary fullett> but we havent approached the 440 ressiatnce
<gary fullett> the market now pulls back
<gary fullett> volume is okay
<gary fullett> not to heavt not to light
<gary fullett> we get the the 422 area
<gary fullett> the market has increase volume agian
<gary fullett> about the same as we got to when we just retested 430
<gary fullett> and now the market rallies to the 427 area
<gary fullett> and begins to encounter resiatnce
<gary fullett> but the voluem was similar
<gary fullett> is this bullish or bearish?
<Ray> bearish
<gary fullett> we reacted off of support again
<George> bullish
<gary fullett> ray wins :)
<Ray> Supply is her
<Ray> here
<maurice> the market went higher, this is bullish
<gary fullett> we made a lower high
<scott>
<George> hooray for ray
<gary fullett> with the same volume that we had when we went to 430
<gary fullett> so the same voluem didnt give us the same reaction
<Ray> Send the check to: Ray.....
<gary fullett> this means deamdn is waning
<George> ok i see
<Kenny>
<gary fullett> I said before te trend was down
<gary fullett> so it is DEMAND or BUYING
<gary fullett> that must prove itself
<gary fullett> we made a lower high
<gary fullett> t that is what a downtrend is
User [Mega /67.80.35.57] joined forum on Wed Jan 23 21:47:23 EST 2002
<gary fullett> a lower high
<gary fullett> Hi mega
<gary fullett> so the fact
<Mega> hi all
<George> going to corner 2 minutes high sticking 4 minutes cross checking
<gary fullett> we didnt take out resiatnce at 430
<George> hi mega
<gary fullett> with the same volume bearish
<Mega> and a broken nose to boot...
<gary fullett> which wyckoff principle is this?
<gary fullett> lol
<Ray> We don't go to the corner if we are wrong, we would spend to much wasted time in the corner if we did.
<Wally> ?effort result
<Jairo> effot vs. result
<gary fullett> yes.........
User [Mega] left forum on Wed Jan 23 21:49:05 EST 2002
<gary fullett> the same effort gave us a less result
<Holland>
User [Mega /67.80.35.57] joined forum on Wed Jan 23 21:49:26 EST 2002
<gary fullett> so the reaction from support
<gary fullett> wasnt as good after the retest
<George> Gary are you talking about preliminary sup.?
<gary fullett> Nope
<maurice>
<Jairo> horizontal support in a trading range
<gary fullett> I am just talking raction
<gary fullett> correct
<gary fullett> I am talking reactions
<Ray> So what can I expect to happen now? Back down to support?
<George> I'm too sleepy to think
<gary fullett> okay
<gary fullett> so we go to 422 area
<gary fullett> and the volume begins to increase on the break
<gary fullett> what does this tell u?
<gary fullett> by the time we are done tonight u will lnow about reactions
<steve>
<Ray> Demand is showing
<gary fullett> No opposite ray
<gary fullett> supply is showing
<Wally> the lower reaction tells us the supply is increasing
<gary fullett> as the market Now is brwaking on heavier volume
<gary fullett> with a bad reaction form 422 support
<gary fullett> right wally
<gary fullett> this means that the 420 area
<gary fullett> probbaly will be broken
User [George /65.69.98.176] joined forum on Wed Jan 23 21:53:22 EST 2002
<gary fullett> but u would have known this by the last reaction from 422 to 427
<Mega> not to interupt, I missed which market you are discussing..
<scott>
<Ray> okay
<gary fullett> no markets tonight mega
<Wally> hypothetical trading range between 420 and 440
<gary fullett> wyckoff principles
<gary fullett> effort vs result
<gary fullett> now about reactions
User [George] left forum on Wed Jan 23 21:55:26 EST 2002
<Mega> ok.. was searching for something trading around 422...
<gary fullett> so we see that the amrket isnt reacting from support like it did originally
<gary fullett> from 420 to 430
<gary fullett> the supply just increased
<gary fullett> after the demand failed to materialize aftre the retest
<gary fullett> so the reaction from support
<gary fullett> at first was decent
<gary fullett> but then afer another retest
<gary fullett> the reaction wasnt as great
<gary fullett> the cm would see this
<gary fullett> relaize demand is waning
<gary fullett> and a breaking of the ice will occur under 420
<gary fullett> dont forget I said the trena was down
<gary fullett> trend
<gary fullett> now lets say the rally went to 436
<gary fullett> instead of 427
<gary fullett> so the market did make a higher high above 430
<gary fullett> but it didnt take out resiatnce at 440
<gary fullett> is this bullish?
<Holland>
<Wally> y
<gary fullett> yep
<gary fullett> a higher higher
<gary fullett> and on a retest
<gary fullett> demand showed
<gary fullett> up
<gary fullett> lets say we retest 440
<gary fullett> and the voluem now begins to wane
<gary fullett> what does this teel u?
<gary fullett> tell
<maurice> demand is not coming in
<Ray> demand is not here.
<Wally> demand waning
<Holland> downdown
<gary fullett> even though the reaction from 420 was good
<Ray> will not make it through 440
<gary fullett> the market still hasnt proven itself
<gary fullett> why?
<maurice> need more cause
<gary fullett> because we are in a DOWNTREND!!!!!!!
<Zack> What time frame GAry---LOL
<gary fullett> lol
<gary fullett> get the banner
<gary fullett> because demand MUST prove itself in a downtrend
<gary fullett> and so far
<gary fullett> yes we got a good reaction BUT
<Wally> so you would expect greater volume as approach 440
<gary fullett> the market still needs to rally above previous highs
<steve> 4309
<gary fullett> at 440 we know that is ressiatnce
<Wally> for demand to prove itself
<gary fullett> I would expect a fight there
<gary fullett> if I see 440 appraoached
<gary fullett> and voume in creasing
<gary fullett> I know the fight is there
<gary fullett> Now what do I expect to see?
<gary fullett> on the retets of 440 resiatnce?
<Wally> ?
<maurice> lo price range, heavy volume
<Ray> JOC?
<scott>
<Ray> at least a break out for a bit.
<steve>
<gary fullett> I want to see the REACTION
<Kenny>
<gary fullett> from the 440 area
<gary fullett> if we b reak hard and volume increases
<gary fullett> this is support at the top of the range
<gary fullett> if the market stays at the 437-438 area
<gary fullett> on increased voume after 440 is hit
<gary fullett> what does this say?
<Mega>
<Ray> still demand, but supply also.
<gary fullett> it says the supply is being absorbed
<Ray> demand has stopped the retracement from 440
<Wally> did you mean support at top of range?
<gary fullett> why/
<gary fullett> because the REACTION FROM RESIATANCE
<gary fullett> is poor
<gary fullett> that means that the increase in volume
<gary fullett> is being absorbed by willing buyers
<gary fullett> how do I knwo this>?
<gary fullett> because the markets isnt breaking!!!!!!!
<Ray> price will not go up.
<gary fullett> no ray price will NOT go down
<maurice> or down
<gary fullett> if i appraoch ressiatnce
<gary fullett> I expect the market to react
<gary fullett> right?
<gary fullett> if that reaction from resisatnce isnt great
<gary fullett> someone is supporting the market to keep it from breaking
<gary fullett> who do u think that is?
<Ray> That's easy, the CM of course.
<gary fullett> :)
<gary fullett> it isnt johnny 1 lot
<gary fullett> someone is selling
<gary fullett> the market isnt breaking
<gary fullett> what does this tell u
<Zack> Awwww--that lets me out :)
<Holland>
<gary fullett> me too zack
<Wally> that resistance will probably be broken on next rally?
<gary fullett> yes
<Wally> great!
<gary fullett> the fact u had deamdn from support 420
<gary fullett> and the fact u r Not reacting from ressiatnce at 440
<gary fullett> tells u demand is over taking supply
<Zack> CM preparing for possible JOC
<Wally> demand proved itself
<gary fullett> YES YES YES
<gary fullett> because market is going up on decent volume
<Ray> The CM is buying all he can, so he's about ready to take it up
<gary fullett> and isnt reacting from resisttance
<gary fullett> he is buying hte selling or supply right ray
<gary fullett> U can tell this BY the markets REATION!!!!!!!!!!!
<gary fullett> it reacted well off of support
<Ray> HEY! I'm 3 out of 8. kind of like my trading!
<gary fullett> and didnt react from resisatance
<gary fullett> :)
<gary fullett> do u see the differnce in the 2 examples
<gary fullett> /
<gary fullett> ?
<Wally> very helpful
<Ray> yes.
<maurice> y
<Jairo> y
<gary fullett> I will not leave u tonight without u knowing how markets react :)
<gary fullett> dont forget
<gary fullett> the trend was down
<gary fullett> so supply was evident
<maurice> So this was a reversal?
<gary fullett> Now the market is showing demand
<gary fullett> because buying is now over taking demadn
<gary fullett> this move from 420 to 440
<gary fullett> could be a sign of strenghth
<gary fullett> could be maurice
<Wally> you can have a sign of strength inside of trading range?
<gary fullett> so it is how quick
<gary fullett> and volume
<gary fullett> and price action
<gary fullett> from percived support/or resiatance
<gary fullett> is how u gauge the strenghth or weakness of a market
<gary fullett> yes u can wally
User [shrooms] left forum on Wed Jan 23 22:16:33 EST 2002
<Wally> news
<gary fullett> if it takes u 2 weeks to go from 440 to 420
<gary fullett> and 2 days to go from 420 to 440
<gary fullett> I didnt see that wally the word news:)
<gary fullett> 2 days to rally 20 cents
<gary fullett> and 2 weeks to break 20 cents
<gary fullett> is this strenghth or weakness?
<Jairo> strength
<Ray> strength
<Kenny> strenght
<Wally> st
<steve> st
<gary fullett> yes
<gary fullett> why?
<Wally> you call this sos
<gary fullett> because the rally is sharper than the break
<gary fullett> the path of least resisatnce is Up not down
<Mega>
<gary fullett> the reaction is stronger on rallies than breaks
<gary fullett> the market is in a hurry to rally
<gary fullett> and not in a hurry to break
<Ray> demand has appeared big time.
<gary fullett> it is onw of the sos wally yes
<gary fullett> as u get the CD
<Wally> tks
<gary fullett> we will be able to go into more advance
<gary fullett> wyckoff
<gary fullett> Like there are 3 types of springs
<gary fullett> I talk about a spring in general
<steve> oh No you will lose me
<gary fullett> no way steve :)
<gary fullett> we will get everyone to spedd
<gary fullett> speed
<Zack> That was a terrific explanation on "reaction"Gary--should be printed out and kept by all of us--thank you
<gary fullett> no one will be left behind
<gary fullett> just like the army
<Wally> right Zack!
<Ray> A very good idea, Zack
<gary fullett> so what is important about reactions/
<Kenny> yes
<gary fullett> It is the speed
<gary fullett> magnitude
<gary fullett> and volume that is important
<gary fullett> as I say many mnay times
<Holland>
User [scott /63.243.54.120] joined forum on Wed Jan 23 22:24:05 EST 2002
<gary fullett> so when U see support
<gary fullett> and u se ressiatnce
<gary fullett> it is the REACTION
<gary fullett> from these areas
<gary fullett> that is ioporantant
<maurice>
<gary fullett> Not that it is support or ressiatnce
<gary fullett> wyckoff said
<Zack> Hmmmmm---seems to me I've heard that once or twice before somewhere :)
<gary fullett> it isnt that it is support or ressiatnce
<gary fullett> but what happens at those points
<gary fullett> because supports and resiatnce get broken all the time BUT
<gary fullett> the reactiosn will tell u ytrend
<gary fullett> and will tell u strenghth
<gary fullett> or weakess
<gary fullett> all amrkets hit support and ressuatnce
<Wally> I have always thought of reactions as just the adjacent bars, not the lower highs and lows. this helps me see a larger picture of reaction.
<gary fullett> do u know what seperates wyckoff from it
<gary fullett> because we know to watch for the QAULITY
<gary fullett> of support resistance
<gary fullett> most people just look at support ressiance
<gary fullett> peope think they understand volume they DONT
<gary fullett> we know about effort vs result with volume
<gary fullett> if a market rallies on higher volume
<gary fullett> they say bullish
<gary fullett> I say I am not so sure
<gary fullett> why
<gary fullett> what was the price range
<gary fullett> if the amrket had higher volum
<gary fullett> but price action was poor on the rally
<gary fullett> most people will say bullish
<gary fullett> I say bearish
<gary fullett> why
<gary fullett> because the heavier volumem didnt
<gary fullett> make the market REACT well
<gary fullett> what does this tell me/
<gary fullett> it tells me someone is selling
<gary fullett> and making the range not as large as somesome bulllish wpuld like
<gary fullett> so someone is selling the increased volume
<gary fullett> how do u think that is?
<gary fullett> effort 9 volume )
<gary fullett> effort ( volume)
<gary fullett> vs result (price action)
<gary fullett> the cm is elling
User [kz yamaha /66.19.1.89] joined forum on Wed Jan 23 22:30:09 EST 2002
<gary fullett> do u understand
<steve> hi Kz Yamaha
<gary fullett> Most will say market higher increased volume
<gary fullett> Bullish
<kz yamaha> hi steve
<gary fullett> Not alwasy true
<Ray> Gary, in our example, would you buy at the 420 support?
<gary fullett> yep
<gary fullett> and if the reaction wasnt good GET OUT!!!!!!
<Zack>
<Ray> Okay, I got it
<maurice> ok
<gary fullett> the lessor the reaction from support the more bearish the amrket is
<Mega>
<Wally>
<gary fullett> same thing on the upside
<scott>
<gary fullett> markets shoudl react from horizonatl support or resisatnce
<gary fullett> If no, thIs is RED FLAG
<gary fullett> so must correlate
<gary fullett> volume vs price action
<kz yamaha> Hi Ray
<gary fullett> how often do u correlate volume vs price action?
<gary fullett> hi KZ
<kz yamaha> hi gary please continue
<Zack> Continually
<Wally> right
<gary fullett> all the time
<gary fullett> not just intraday
<gary fullett> not daily nor weeklt
<gary fullett> BUT all the time all the time frames
<gary fullett> this concept
<gary fullett> tells u trehghth and weakness of a market
<Jairo>
<gary fullett> why is this important
<gary fullett> because
<gary fullett> the amrket is alwasy
<gary fullett> I mean always
<gary fullett> testing and retesting it self
<gary fullett> the cm will buy 100 contracts
<gary fullett> sell 75
<gary fullett> at a small loss
<gary fullett> to see which side gets absorbed better
<Jairo>
<gary fullett> he is teating and probing the market
<gary fullett> this is very very imporyant
<gary fullett> what they do and thier role
<gary fullett> do u understand?
<gary fullett> please stop me if u dont
<Ray> yes
<Kenny> y
<Wally> are the number 100 and 75 contracts important?
<Wally> why not 100 and 100
<Wally> poor question?
<gary fullett> they arent important
<gary fullett> just arbitary numbers
<Wally> ok
<gary fullett> he will buy and sell
<gary fullett> and lose money to probe the market
<Ray> Ask, and be a fool for 10 minutes, don't ask and be a fool for life.
<Kenny> probing the market
<Wally> great Ray
<scott> lol
<Wally> the cm can still fake us out with this action can't he?
<maurice> not if we are alert lol
<gary fullett> yep wally
<gary fullett> that is why U must watch volume and price action all the time
<gary fullett> an all time thing
<gary fullett> not an occasional thing
<gary fullett> so if u see price action and volume not correlating
<gary fullett> this is a RED flag
<Wally> are you saying the cm can't cover his tracks in the price and volume?
<gary fullett> and not the flag of former russia
<gary fullett> well u can see volume right?
<gary fullett> can u see price action right?
<gary fullett> so if u know how to nterprt it
<gary fullett> u will think ike the cm
<gary fullett> if u cant see what he is doing
<gary fullett> he makes more money
<Wally> good point, thanks
<gary fullett> rsi adx
User [Holland /64.240.52.232] joined forum on Wed Jan 23 22:45:10 EST 2002
<gary fullett> are tricks
<gary fullett> they are lagging indicators
<Zack> He does leave footprints Wally---Wyckoff is all about reading those footprints to try to follow the CM's intentions and go with him--not against him
<gary fullett> volume and price action happen in front of your beautiful eyes
<gary fullett> if u are good enough to see his intentions great he doesnt care
<gary fullett> But for most everyone
<gary fullett> he gets em
<gary fullett> with exp u can think more like the cm
<Wally> you are getting poetic
<gary fullett> I didnt mean it
<gary fullett> but it sounded good huh
<Wally> please be sure this evening gets on the archive
<gary fullett> there is more to reactions
<Ray> yeah, it did!
<gary fullett> but I wnated to generalize tonight
<scott>
<maurice> Thanks gary, that was a great class tonight
<gary fullett> I hoped it helpe
<gary fullett> helped
<Holland> Thanks and good night.
<maurice> good nite all, c u tomorrow.
User [Holland] left forum on Wed Jan 23 22:48:26 EST 2002
<gary fullett> are there questions on anyhting tonight?
<gary fullett> please ask
<Ray> As the song says, "I can see clearly now"
<gary fullett> if u arent clear on anything
<gary fullett> :)
<gary fullett> stevie wonder ray>?
<scott> thx gary, nite all
<Ray> You explained it very well, I have no questions.
<gary fullett> tomorrow will will talk on spreads
<gary fullett> and misc
<gary fullett> I ddint do that well
<Zack> Thanks very much Gary--was an excellent class---take care everybody and goodnight
<gary fullett> thanx zack
<Jairo> thanks, Gary. night all
<gary fullett> okay I will see u all tomorrow night if no more questions
User [Zack] left forum on Wed Jan 23 22:49:32 EST 2002
User [maurice] left forum on Wed Jan 23 22:49:34 EST 2002
<Kenny> thank gary nite all
<Wally> good night
<gary fullett> good night all have a safe evening :)
User [Jairo] left forum on Wed Jan 23 22:49:40 EST 2002
<gary fullett> i hoped it helped
<Ray> Good night Gary
User [Kenny] left forum on Wed Jan 23 22:49:45 EST 2002
User [gary fullett] left forum on Wed Jan 23 22:49:47 EST 2002