02/10/2003 21:02:28 EST   User [gary fullett] joined forum from 198.63.240.97 02/10/2003 21:02:38 EST   it is ok - nice to have to refer to and read -something else to reinforce what you are learning here 02/10/2003 21:02:53 EST   Hi Gary! 02/10/2003 21:03:05 EST   Hi beau! 02/10/2003 21:03:07 EST   MM thanks - we are really getting a lot out of it 02/10/2003 21:03:12 EST   hi mm 02/10/2003 21:03:41 EST   mmaker, we would all be trying to talk at same time - lol 02/10/2003 21:03:48 EST   lol 02/10/2003 21:03:49 EST   User [ssid] joined forum from 66.182.17.90 02/10/2003 21:04:02 EST   Does the CD teach in easy to follow steps? 02/10/2003 21:04:55 EST   we think so - lots of good information - we printed it off to study 02/10/2003 21:05:16 EST   meg did u look at the CD yet? 02/10/2003 21:05:18 EST   hi all...................happy monday......................i seem tb stuttering 2nite 02/10/2003 21:05:34 EST   hi sid 02/10/2003 21:05:37 EST   Hi Sid - meg left you to clean kitchen? 02/10/2003 21:05:47 EST   User [kris] joined forum from 64.229.131.121 02/10/2003 21:05:55 EST   yes - we are enjoying the new information to study Gary! 02/10/2003 21:06:01 EST   Hi Kris! 02/10/2003 21:06:09 EST   good evening all. 02/10/2003 21:06:10 EST   i can handle it 02/10/2003 21:06:12 EST   User [JohnH] joined forum from 68.101.12.27 02/10/2003 21:06:19 EST   I cooked dinner 02/10/2003 21:06:20 EST   hi there 02/10/2003 21:06:27 EST   did u have any questions on it? 02/10/2003 21:06:29 EST   lol - same here 02/10/2003 21:06:33 EST   good 2 02/10/2003 21:07:39 EST   The phases are helpful - not any questions yet - but soon 02/10/2003 21:07:48 EST   Will you ever go over the counting in the point & figure 02/10/2003 21:08:23 EST   I will beaubc 02/10/2003 21:08:28 EST   great 02/10/2003 21:08:29 EST   but it wont be for awhile 02/10/2003 21:08:40 EST   the reason is .. 02/10/2003 21:08:51 EST   most will not do p and f 02/10/2003 21:09:07 EST   because they would rather do charts and not point and figure 02/10/2003 21:09:12 EST   so i dont emphasis it 02/10/2003 21:09:23 EST   if I wanted to more about point & figure that Wyckoff uses where wud I look 02/10/2003 21:09:23 EST   but i will have a class on it to familaize yourself with it 02/10/2003 21:09:35 EST   we have barcharts and we are having problems setting up a chart P & F 02/10/2003 21:09:58 EST   it is a tad differnt today then when wyckoff did them 02/10/2003 21:10:04 EST   but i will explain it 02/10/2003 21:10:11 EST   ok 02/10/2003 21:10:14 EST   same here, meg but if p&f used maily to measure next move, i will use the zack method 02/10/2003 21:10:15 EST   great 02/10/2003 21:10:22 EST   mainly 02/10/2003 21:10:32 EST   I don't understand Zack's method! 02/10/2003 21:10:37 EST   brb 02/10/2003 21:10:41 EST   whats the Zack method 02/10/2003 21:10:46 EST   the thumb and forefinger method 02/10/2003 21:10:47 EST   What is the Zack method? 02/10/2003 21:10:50 EST   right mm 02/10/2003 21:10:53 EST   buy support sell resistance 02/10/2003 21:11:23 EST   thanks, ron - zack measures cause using what ron said 02/10/2003 21:11:37 EST   I will explanin that for u 02/10/2003 21:11:47 EST   zack got it from me as a rough guestimate 02/10/2003 21:11:47 EST   User [ichard] joined forum from 24.120.11.190 02/10/2003 21:11:55 EST   on how to determine the cause for a move 02/10/2003 21:11:56 EST   hey ichard 02/10/2003 21:12:09 EST   User [ichard] left forum. 02/10/2003 21:12:14 EST   remeber last week I talked about traidng ranges 02/10/2003 21:12:18 EST   good going, gary! takes work out of it 02/10/2003 21:12:19 EST   y 02/10/2003 21:12:21 EST   y 02/10/2003 21:12:25 EST   y 02/10/2003 21:12:25 EST   where can I learn more about Zack method? 02/10/2003 21:12:26 EST   horizonatal trading ranges 02/10/2003 21:12:45 EST   well we take the sideways cause of the TR 02/10/2003 21:12:49 EST   and turn it vertically 02/10/2003 21:12:57 EST   and this will giive u a rough guestimate 02/10/2003 21:13:17 EST   User [Richard] joined forum from 24.120.11.190 02/10/2003 21:13:17 EST   interesting - thanks Gary 02/10/2003 21:13:21 EST   but i thought P&F wasn't done on a daily basis 02/10/2003 21:13:23 EST   2 inches cause horizontally is 2 inches vertically 02/10/2003 21:13:29 EST   so zacks used his giner and thumb from there 02/10/2003 21:13:38 EST   p and f 02/10/2003 21:13:42 EST   doesnt involve time 02/10/2003 21:13:54 EST   lol 02/10/2003 21:13:56 EST   it involves price 02/10/2003 21:13:57 EST   so how does it refer to time 02/10/2003 21:14:03 EST   sounds difficult 02/10/2003 21:14:10 EST   or price moves 02/10/2003 21:14:15 EST   i was giving u a guestimate wuthout p and f 02/10/2003 21:14:40 EST   i can show u a more acucrate way with point and figure down the road 02/10/2003 21:14:50 EST   ok 02/10/2003 21:14:51 EST   Would you use that as an estimate for your target? 02/10/2003 21:14:55 EST   thanks 02/10/2003 21:15:05 EST   yes 02/10/2003 21:15:11 EST   u r welcome 02/10/2003 21:15:18 EST   thx 02/10/2003 21:15:24 EST   so we talked on wyckoff 02/10/2003 21:15:28 EST   the 3 principles 02/10/2003 21:15:34 EST   the wyckoff wave and trading ranges 02/10/2003 21:15:37 EST   right? 02/10/2003 21:15:40 EST   y 02/10/2003 21:15:40 EST   y 02/10/2003 21:15:44 EST   y 02/10/2003 21:15:50 EST   does anyone know what the topic i meantioned last week for today? 02/10/2003 21:15:55 EST   y 02/10/2003 21:15:57 EST   meg knows 02/10/2003 21:15:58 EST   y 02/10/2003 21:16:02 EST   joc reations tr 02/10/2003 21:16:03 EST   okay I am all ears 02/10/2003 21:16:16 EST   reactions 02/10/2003 21:16:18 EST   reaction 02/10/2003 21:16:29 EST   was it reaction? 02/10/2003 21:16:33 EST   hmmmm 02/10/2003 21:16:39 EST   okay 02/10/2003 21:16:49 EST   she types faster than i do 02/10/2003 21:17:01 EST   then I have 2 topics for tonight and u can choose which one and i will do the next one next week:) 02/10/2003 21:17:09 EST   I can do reactions strenghth and weaknesses 02/10/2003 21:17:11 EST   k 02/10/2003 21:17:20 EST   ok 02/10/2003 21:17:28 EST   or I can talk on spring upthrust JOC and breaking of th ice 02/10/2003 21:17:38 EST   reactions please 02/10/2003 21:17:42 EST   since I may have mentioned 2 topics last week 02/10/2003 21:17:44 EST   the second pls 02/10/2003 21:17:52 EST   reactions 02/10/2003 21:18:01 EST   okay reactions this week 02/10/2003 21:18:09 EST   to tell u how to see strenghth and weakness es 02/10/2003 21:18:26 EST   it is a topic that I would want to save for later in the beginners class 02/10/2003 21:18:28 EST   but it imp 02/10/2003 21:18:32 EST   so i wil do it tonight 02/10/2003 21:18:38 EST   and if it is a tad ahead of u 02/10/2003 21:18:50 EST   u can revieew and ask questiosn down the raod okay 02/10/2003 21:18:56 EST   ok 02/10/2003 21:18:57 EST   k 02/10/2003 21:19:02 EST   k 02/10/2003 21:19:05 EST   k 02/10/2003 21:19:08 EST   k 02/10/2003 21:19:15 EST   also I will be giving a book out tonigght 02/10/2003 21:19:19 EST   at the end of class 02/10/2003 21:19:20 EST   User [Lacey] joined forum from 68.53.128.11 02/10/2003 21:19:22 EST   k 02/10/2003 21:19:50 EST   okay 02/10/2003 21:19:53 EST   Reactions 02/10/2003 21:20:00 EST   this is very important part of wyckoff 02/10/2003 21:20:08 EST   as a matter of fact one of the most imp topics 02/10/2003 21:20:15 EST   because it is the size of the reaction 02/10/2003 21:20:23 EST   that dtermines strenghth or weakness 02/10/2003 21:20:29 EST   demand or supply 02/10/2003 21:20:32 EST   buying or selling 02/10/2003 21:21:20 EST   now I am goin gto talk a tad on volume in this class tonight 02/10/2003 21:21:27 EST   there is alot to volume and price action 02/10/2003 21:21:34 EST   but I wnat u to get familar with it 02/10/2003 21:22:08 EST   I will show u examples in charts as wella s we go on 02/10/2003 21:22:46 EST   User [Kent] joined forum from 172.192.227.93 02/10/2003 21:23:01 EST   but tonight I will take a theoritcal appraoch to get my point accros 02/10/2003 21:23:06 EST   lets take soybeans 02/10/2003 21:23:16 EST   as our example 02/10/2003 21:23:26 EST   when u get to support 02/10/2003 21:24:17 EST   and I am talking mostly about horizonatal support 02/10/2003 21:24:26 EST   I will talk about support 02/10/2003 21:24:37 EST   but the same is true about resiatnce just the opposite okay? 02/10/2003 21:24:43 EST   y 02/10/2003 21:24:45 EST   k 02/10/2003 21:24:46 EST   so i dont have to go over both scenrios 02/10/2003 21:24:46 EST   y 02/10/2003 21:24:47 EST   k 02/10/2003 21:24:48 EST   User [maurice] joined forum from 205.254.241.104 02/10/2003 21:24:52 EST   k 02/10/2003 21:24:55 EST   k 02/10/2003 21:25:17 EST   Hello all. 02/10/2003 21:25:24 EST   Hi Maurice 02/10/2003 21:25:24 EST   hi maurice 02/10/2003 21:25:29 EST   okay 02/10/2003 21:26:06 EST   u know what I will ask the question for the book now 02/10/2003 21:26:27 EST   since i was going to type something but i think i want to ask a q on it first sonc eit is imp 02/10/2003 21:26:31 EST   since 02/10/2003 21:26:35 EST   are u ready? 02/10/2003 21:26:38 EST   y 02/10/2003 21:26:38 EST   y 02/10/2003 21:26:40 EST   y 02/10/2003 21:26:40 EST   k 02/10/2003 21:26:41 EST   y 02/10/2003 21:26:46 EST   simple q but imp 02/10/2003 21:26:56 EST   y 02/10/2003 21:26:59 EST   y 02/10/2003 21:27:10 EST   y 02/10/2003 21:27:11 EST   what is the differnce btween horizonatl supports and reistance lines and sloping ones 02/10/2003 21:27:11 EST   y 02/10/2003 21:27:17 EST   trend 02/10/2003 21:27:19 EST   that is the q 02/10/2003 21:27:22 EST   slopes shouw trend 02/10/2003 21:27:24 EST   trend if sloping 02/10/2003 21:27:30 EST   sloping mean change of direction 02/10/2003 21:27:33 EST   trend is sloping 02/10/2003 21:27:53 EST   horizontal shows support and resistance 02/10/2003 21:27:56 EST   horizontal show demand and supply, slopes trend 02/10/2003 21:27:58 EST   corrdoesnt a BC and SC tell trend? 02/10/2003 21:27:58 EST   sloping lines follow trend - horizontal show creek and ice 02/10/2003 21:27:59 EST   trend lines show overbought, oversold areas 02/10/2003 21:28:02 EST   that si sloping 02/10/2003 21:28:03 EST   indicates a possible ending of the trend 02/10/2003 21:28:14 EST   horizontal shows support/res 02/10/2003 21:28:28 EST   when you go outside of the parallel lines 02/10/2003 21:28:30 EST   maurice said it right!!!!! 02/10/2003 21:28:30 EST   no 02/10/2003 21:28:46 EST   but he won last weeks book 02/10/2003 21:28:52 EST   so i will ask again later :) 02/10/2003 21:29:03 EST   maurice please repeat what u said 02/10/2003 21:29:08 EST   blushing 02/10/2003 21:29:16 EST   Sloping lines refer to the underlying trend while horizonal resistance and support lines refer to possible trouble in ythe direction of the price 02/10/2003 21:29:21 EST   yea, maurice! 02/10/2003 21:29:38 EST   way to go Maurice 02/10/2003 21:29:42 EST   horizontal lines show supply and demand, sloping lines show trend 02/10/2003 21:29:46 EST   horizonatl lines show demand and supply 02/10/2003 21:29:54 EST   good job m 02/10/2003 21:29:57 EST   horizonatl shows more of a trend 02/10/2003 21:30:01 EST   thanks maurice 02/10/2003 21:30:02 EST   why is this imp to wyckoff 02/10/2003 21:30:09 EST   because to wyckoff 02/10/2003 21:30:19 EST   we want to see reactions to support or reisatnce 02/10/2003 21:30:19 EST   we want to buy support ans sell resistance 02/10/2003 21:30:37 EST   to show how demadn or supply shows up 02/10/2003 21:30:48 EST   the more of a reaction from support or reisatnce 02/10/2003 21:30:52 EST   the greater 02/10/2003 21:31:00 EST   the cm shows an interest 02/10/2003 21:31:57 EST   lets say beans are at 400 support 02/10/2003 21:32:02 EST   horizonatl support 02/10/2003 21:32:14 EST   and has horizonatl resistance at 440 02/10/2003 21:32:20 EST   can u picture this 02/10/2003 21:32:22 EST   ice at 400 02/10/2003 21:32:23 EST   y 02/10/2003 21:32:24 EST   y 02/10/2003 21:32:26 EST   y 02/10/2003 21:32:26 EST   creek at 440 02/10/2003 21:32:27 EST   y 02/10/2003 21:32:28 EST   y 02/10/2003 21:32:34 EST   y 02/10/2003 21:33:08 EST   okay 02/10/2003 21:33:17 EST   so we should expect a reaction from 400 02/10/2003 21:33:22 EST   and a reaction from 440 02/10/2003 21:33:31 EST   becayse that is the TR 02/10/2003 21:33:43 EST   y 02/10/2003 21:33:48 EST   y 02/10/2003 21:34:01 EST   so we get to 400 02/10/2003 21:34:13 EST   and the market rallies the next day to 415 02/10/2003 21:34:19 EST   the volume is about 20k 02/10/2003 21:34:36 EST   the next day we rally to 420 02/10/2003 21:34:43 EST   and the volume is about 15 k 02/10/2003 21:34:53 EST   price will slide 02/10/2003 21:34:57 EST   is this what one would expect with price action and volume 02/10/2003 21:35:08 EST   is this effort meeting result? 02/10/2003 21:35:08 EST   y 02/10/2003 21:35:14 EST   50% 02/10/2003 21:35:16 EST   y 02/10/2003 21:35:23 EST   y 02/10/2003 21:35:30 EST   good thats right!!! 02/10/2003 21:35:43 EST   does everyone see this? 02/10/2003 21:35:51 EST   y 02/10/2003 21:35:52 EST   y 02/10/2003 21:35:53 EST   y 02/10/2003 21:35:53 EST   y 02/10/2003 21:36:00 EST   y 02/10/2003 21:36:03 EST   y 02/10/2003 21:36:07 EST   y 02/10/2003 21:36:09 EST   y 02/10/2003 21:36:23 EST   great 02/10/2003 21:36:43 EST   so would u say the reaction from support was good? 02/10/2003 21:36:47 EST   y 02/10/2003 21:36:49 EST   y 02/10/2003 21:36:49 EST   sos 02/10/2003 21:36:55 EST   y 02/10/2003 21:36:55 EST   not a sos 02/10/2003 21:36:55 EST   y 02/10/2003 21:36:57 EST   week 02/10/2003 21:37:03 EST   we are in a TR 02/10/2003 21:37:03 EST   weak 02/10/2003 21:37:04 EST   avg 02/10/2003 21:37:09 EST   k 02/10/2003 21:37:24 EST   a 20 cent rally in 2 days is weak? 02/10/2003 21:37:29 EST   tell that to the shorts 02/10/2003 21:37:34 EST   lol 02/10/2003 21:37:39 EST   lol 02/10/2003 21:37:40 EST   it moved up 20 cents in 2 days of a TR 02/10/2003 21:37:48 EST   thats good action 02/10/2003 21:37:59 EST   now the next day 02/10/2003 21:38:05 EST   the market moved from 420 02/10/2003 21:38:09 EST   <---------doesn't know beans 02/10/2003 21:38:13 EST   to 416 02/10/2003 21:38:22 EST   and the volume was 10 k 02/10/2003 21:38:30 EST   good 02/10/2003 21:38:39 EST   the next day the market broke to 410 on 10 k again 02/10/2003 21:38:51 EST   so in 2 days 02/10/2003 21:38:55 EST   retracing 02/10/2003 21:39:06 EST   normal 02/10/2003 21:39:10 EST   the market broke 10 ceents on 10 k volume each day 02/10/2003 21:39:14 EST   sow? 02/10/2003 21:39:19 EST   so far i gave u 4 days 02/10/2003 21:39:25 EST   no SOW 02/10/2003 21:39:32 EST   volume was lower on pullback 02/10/2003 21:39:32 EST   ok 02/10/2003 21:39:37 EST   i am Not talking SOS SOS tonight 02/10/2003 21:39:42 EST   SOW 02/10/2003 21:39:46 EST   I am talking rwactions 02/10/2003 21:39:55 EST   I knwo u have had this info from other classes 02/10/2003 21:40:02 EST   lower vol and smaller ranges on downside is good 02/10/2003 21:40:07 EST   but in thsi beginners class u know Nuttin" 02/10/2003 21:40:19 EST   ain't that the truth! 02/10/2003 21:40:23 EST   u dont know JOC no springs 02/10/2003 21:40:24 EST   sorry 02/10/2003 21:40:27 EST   till I go over it 02/10/2003 21:40:29 EST   User [pat] joined forum from 63.164.20.59 02/10/2003 21:40:39 EST   hi pat 02/10/2003 21:40:42 EST   hi everyone 02/10/2003 21:40:44 EST   this would imply that demand is starting to take over supply 02/10/2003 21:40:47 EST   i want to go over these terms 02/10/2003 21:40:51 EST   like u never heard them 02/10/2003 21:40:54 EST   u know alot 02/10/2003 21:40:59 EST   but i want to walk u thru them 02/10/2003 21:41:15 EST   so we pullback 10 cents 02/10/2003 21:41:25 EST   was the volume increasded or decreased? 02/10/2003 21:41:30 EST   decreased 02/10/2003 21:41:34 EST   decreased 02/10/2003 21:41:35 EST   d 02/10/2003 21:41:47 EST   light vol compared to what we had on reaction from support 02/10/2003 21:42:08 EST   right 02/10/2003 21:42:22 EST   what does this 4 days of action tell u? 02/10/2003 21:42:26 EST   price action and volume? 02/10/2003 21:42:30 EST   there is demand 02/10/2003 21:42:33 EST   bullish 02/10/2003 21:42:40 EST   bullish 02/10/2003 21:42:42 EST   demand is over comign supply within the TR right? 02/10/2003 21:42:44 EST   testing for demand 02/10/2003 21:42:45 EST   y 02/10/2003 21:42:49 EST   y 02/10/2003 21:42:55 EST   400 is good support 02/10/2003 21:43:01 EST   the rally was faster and on more volumme than the break right? 02/10/2003 21:43:06 EST   y 02/10/2003 21:43:08 EST   y 02/10/2003 21:43:09 EST   y 02/10/2003 21:43:17 EST   y 02/10/2003 21:43:44 EST   y 02/10/2003 21:43:47 EST   do u all see that the rally was better then the break? 02/10/2003 21:43:51 EST   y 02/10/2003 21:43:52 EST   y 02/10/2003 21:43:53 EST   y 02/10/2003 21:43:56 EST   y 02/10/2003 21:43:57 EST   y 02/10/2003 21:44:04 EST   y 02/10/2003 21:44:06 EST   so the reaction from support was good 02/10/2003 21:44:15 EST   so if one is bullish 02/10/2003 21:44:23 EST   the reaction to the downside should be limited 02/10/2003 21:44:26 EST   and on less volume 02/10/2003 21:44:32 EST   to show less supply or selling 02/10/2003 21:45:57 EST   i will go over more complex scenerios as we go on 02/10/2003 21:46:05 EST   but i want to go over basic reaction 02/10/2003 21:46:10 EST   good lesson 02/10/2003 21:46:22 EST   that way when i discuss reactions thuesday thur thrusday u will know 02/10/2003 21:46:41 EST   please note we are still in a TR 400-440 02/10/2003 21:46:47 EST   so nothing has been proven yet 02/10/2003 21:47:12 EST   why is this important to see if demand or supply is eveident in a TR 02/10/2003 21:47:33 EST   we want to get a tip off 02/10/2003 21:47:34 EST   to know whether to buy or sell? 02/10/2003 21:47:40 EST   if we will get a break of support 02/10/2003 21:47:45 EST   or a rally above resiatnce 02/10/2003 21:47:53 EST   to determine direction of breakout 02/10/2003 21:48:16 EST   if we feel it will break thru support we want to be there before the funds get there 02/10/2003 21:48:20 EST   we want to be with the cm 02/10/2003 21:48:25 EST   right dca 02/10/2003 21:48:44 EST   so markets are alwasy testing support and reisatnce 02/10/2003 21:49:01 EST   and we se this all the time by the reactions from precived support or reisatnce 02/10/2003 21:49:20 EST   the greater the reaction from support 02/10/2003 21:49:25 EST   is 2 fold reason 02/10/2003 21:49:26 EST   1) 02/10/2003 21:49:29 EST   to catch weak shorts 02/10/2003 21:49:47 EST   2) for the longs NOT to get long at a good price 02/10/2003 21:49:58 EST   if the market stays at the lows 02/10/2003 21:50:03 EST   this allows buyers to buy 02/10/2003 21:50:08 EST   do u think the cm wants that? 02/10/2003 21:50:14 EST   n 02/10/2003 21:50:15 EST   y 02/10/2003 21:50:16 EST   n 02/10/2003 21:50:25 EST   n 02/10/2003 21:50:37 EST   n 02/10/2003 21:50:44 EST   n 02/10/2003 21:51:02 EST   cm sells res & buys sup 02/10/2003 21:51:04 EST   he dsoesnt like company 02/10/2003 21:51:12 EST   so he doesnt want u to buy when he buys 02/10/2003 21:51:18 EST   when a market goes stright down 02/10/2003 21:51:21 EST   u dont want to buy 02/10/2003 21:51:24 EST   u r scared 02/10/2003 21:51:30 EST   who do u think steps in? 02/10/2003 21:51:32 EST   the cm does 02/10/2003 21:51:34 EST   cm 02/10/2003 21:51:39 EST   not a 1 contract buyer 02/10/2003 21:51:48 EST   there has to be a change of leadersip 02/10/2003 21:51:54 EST   from strong hands to weak hands 02/10/2003 21:52:02 EST   and vice versa 02/10/2003 21:52:08 EST   so when the market breaks hard 02/10/2003 21:52:14 EST   weak longs get out 02/10/2003 21:52:17 EST   and they sell 02/10/2003 21:52:18 EST   cm plays both 02/10/2003 21:52:19 EST   who buys? 02/10/2003 21:52:25 EST   cm 02/10/2003 21:52:26 EST   the cm buys the weks longd 02/10/2003 21:52:28 EST   longs 02/10/2003 21:52:59 EST   the cm must be looking at that silver 02/10/2003 21:53:15 EST   that is what markets are all about 02/10/2003 21:53:17 EST   right? 02/10/2003 21:53:21 EST   y 02/10/2003 21:53:22 EST   r 02/10/2003 21:53:23 EST   y 02/10/2003 21:53:26 EST   y 02/10/2003 21:53:28 EST   from in the know to those who know less 02/10/2003 21:53:32 EST   y 02/10/2003 21:53:33 EST   we all cant be long 02/10/2003 21:53:41 EST   we can in this class 02/10/2003 21:53:48 EST   but not the whole world right :)LOL 02/10/2003 21:53:53 EST   lol 02/10/2003 21:54:01 EST   sshh! 02/10/2003 21:54:02 EST   " 02/10/2003 21:54:06 EST   so the cm constanly tests and retests markets 02/10/2003 21:54:07 EST   lol 02/10/2003 21:54:11 EST   and he does this many ways 02/10/2003 21:54:16 EST   brb 02/10/2003 21:54:21 EST   but buying to push up prices to sell 02/10/2003 21:54:23 EST   and vice versa 02/10/2003 21:54:32 EST   he tries to disguise his intention 02/10/2003 21:54:56 EST   did u ever see "news " atricles that says 02/10/2003 21:55:04 EST   cargil bought today :? 02/10/2003 21:55:10 EST   n 02/10/2003 21:55:11 EST   n 02/10/2003 21:55:16 EST   n 02/10/2003 21:55:24 EST   yes u do 02/10/2003 21:55:27 EST   u see it every day 02/10/2003 21:55:34 EST   it says cargil bought 500 corn 02/10/2003 21:55:36 EST   in the charts 02/10/2003 21:55:39 EST   or sold 500 corn 02/10/2003 21:55:47 EST   that is people in the pit 02/10/2003 21:55:53 EST   that say they saw cargil buying 02/10/2003 21:56:03 EST   but can u rely on that cargil is long? 02/10/2003 21:56:10 EST   no of course not 02/10/2003 21:56:12 EST   n 02/10/2003 21:56:17 EST   ????????? 02/10/2003 21:56:19 EST   because they want u to knwo what they want u to know 02/10/2003 21:56:39 EST   so they say they are buying 02/10/2003 21:56:47 EST   in rality they may want to sell to get short 02/10/2003 21:56:51 EST   reality 02/10/2003 21:57:01 EST   thats disguising 02/10/2003 21:57:12 EST   disgusting too lol 02/10/2003 21:57:24 EST   :) 02/10/2003 21:57:26 EST   name of the game 02/10/2003 21:57:31 EST   nobody said they had to play nice 02/10/2003 21:57:51 EST   disguising 101 02/10/2003 21:57:58 EST   lol 02/10/2003 21:58:09 EST   they bid up prices 02/10/2003 21:58:12 EST   the pit see this 02/10/2003 21:58:17 EST   so the pit buys right? 02/10/2003 21:58:28 EST   and when the pit buys they can sell at a great price 02/10/2003 21:58:28 EST   heh heh heh 02/10/2003 21:58:28 EST   y 02/10/2003 21:58:29 EST   02/10/2003 21:58:36 EST   they play this game every day@!!!! 02/10/2003 21:58:45 EST   they bluff like cards all the time 02/10/2003 21:58:54 EST   they dont like company 02/10/2003 21:59:03 EST   this is how they catch the public and the pit 02/10/2003 21:59:07 EST   if cargil buys 02/10/2003 21:59:14 EST   and u see this in the pit should u buy? 02/10/2003 21:59:21 EST   n 02/10/2003 21:59:24 EST   u dont knwo what they are doing in the cash market 02/10/2003 21:59:24 EST   n 02/10/2003 21:59:26 EST   n 02/10/2003 21:59:29 EST   n 02/10/2003 21:59:29 EST   02/10/2003 21:59:33 EST   or on the option market or spreads do u 02/10/2003 21:59:42 EST   so u never really knwo thier postion 02/10/2003 21:59:46 EST   and thier intention 02/10/2003 21:59:55 EST   so dont listen to news watch charts 02/10/2003 22:00:12 EST   so back to reactions 02/10/2003 22:00:17 EST   when a market gets to support 02/10/2003 22:00:23 EST   it is the price action and volume 02/10/2003 22:00:28 EST   that is KEY 02/10/2003 22:00:29 EST   User [JohnH] left forum. 02/10/2003 22:00:35 EST   what if the market 02/10/2003 22:00:47 EST   rallies 02/10/2003 22:01:03 EST   from support and the volume was light 02/10/2003 22:01:09 EST   wait 02/10/2003 22:01:10 EST   what does this say? 02/10/2003 22:01:19 EST   instead of heavier like we said before 02/10/2003 22:01:19 EST   get short 02/10/2003 22:01:23 EST   still equilibrium between demand and supply 02/10/2003 22:01:24 EST   but the reactionw as good 02/10/2003 22:01:26 EST   no sellers 02/10/2003 22:01:30 EST   cm b 2&s1 02/10/2003 22:01:32 EST   weak reaction 02/10/2003 22:01:32 EST   right beauc 02/10/2003 22:01:39 EST   the reaction was good 02/10/2003 22:01:52 EST   all u know is that the reaction was good 02/10/2003 22:02:04 EST   BUT 02/10/2003 22:02:10 EST   no sellers enetered 02/10/2003 22:02:15 EST   this means 02/10/2003 22:02:22 EST   that is is probably short covering 02/10/2003 22:02:28 EST   rather than demand 02/10/2003 22:02:29 EST   supply is drying up 02/10/2003 22:02:43 EST   differnt from the eariler scenerio 02/10/2003 22:03:17 EST   volume and price action should be constant 02/10/2003 22:03:24 EST   so we wait until next day to see reaction? 02/10/2003 22:03:24 EST   if u dont get that it is a red flag 02/10/2003 22:03:37 EST   or the next day or 2 02/10/2003 22:03:55 EST   my point is u r judging price action and volume to dtermine demand or supply 02/10/2003 22:03:59 EST   yes the reaction wa sgood 02/10/2003 22:04:03 EST   but if volume was light 02/10/2003 22:04:04 EST   User [Lacey] left forum. 02/10/2003 22:04:10 EST   did the cm buy alot of contracts? 02/10/2003 22:04:15 EST   n 02/10/2003 22:04:15 EST   n 02/10/2003 22:04:16 EST   n 02/10/2003 22:04:19 EST   no 02/10/2003 22:04:21 EST   n 02/10/2003 22:04:23 EST   n 02/10/2003 22:05:10 EST   right 02/10/2003 22:05:18 EST   so if he couldnt get long for a move up 02/10/2003 22:05:35 EST   why would he mark up prices? 02/10/2003 22:05:37 EST   he wouldnt 02/10/2003 22:05:48 EST   couldn't? 02/10/2003 22:06:03 EST   well if volume is light 02/10/2003 22:06:09 EST   and there were few sellers 02/10/2003 22:06:12 EST   ok 02/10/2003 22:06:18 EST   how can he buy if sellers were scare? 02/10/2003 22:06:27 EST   got it 02/10/2003 22:06:44 EST   so u got 2 scnernerios 02/10/2003 22:06:49 EST   price action similar 02/10/2003 22:06:54 EST   but volume lighter 02/10/2003 22:07:08 EST   and it means 2 diff things probbaly 02/10/2003 22:07:29 EST   now if volume was heavy like 50 k 02/10/2003 22:07:37 EST   and the market went from 400 to 405 02/10/2003 22:07:43 EST   what does this say? 02/10/2003 22:07:50 EST   small move 02/10/2003 22:07:58 EST   thats true but... 02/10/2003 22:07:59 EST   a tug of war 02/10/2003 22:07:59 EST   red flag 02/10/2003 22:08:04 EST   supply being asborbed 02/10/2003 22:08:04 EST   cm is buying up supply and maintaining support 02/10/2003 22:08:05 EST   it says there is willing sellers 02/10/2003 22:08:07 EST   demand 02/10/2003 22:08:27 EST   I mean demand 02/10/2003 22:08:28 EST   the reaction from support was weak 02/10/2003 22:08:33 EST   so there is willing sellers 02/10/2003 22:08:59 EST   this could be a SOT remeber from thursday 02/10/2003 22:09:07 EST   but I wont go over this here 02/10/2003 22:09:08 EST   y 02/10/2003 22:09:16 EST   but the reaction from support was weak 02/10/2003 22:09:39 EST   for our conversations 02/10/2003 22:09:47 EST   this means wekness 02/10/2003 22:10:11 EST   so when we get a good reaction from support this generally means demand 02/10/2003 22:10:22 EST   the greatrer the reaction from support 02/10/2003 22:10:25 EST   the more demand there is 02/10/2003 22:10:29 EST   and on a retest 02/10/2003 22:10:51 EST   u may want to buy 02/10/2003 22:11:01 EST   agter u see demand 02/10/2003 22:11:06 EST   u want to see the reaction 02/10/2003 22:11:08 EST   to buy 02/10/2003 22:11:25 EST   buy st 02/10/2003 22:11:40 EST   so u are always looking for how markets react to support or resiatnce 02/10/2003 22:11:44 EST   the greatrerer the reacter 02/10/2003 22:11:44 EST   User [Joe K] joined forum from 172.168.7.250 02/10/2003 22:11:49 EST   that is why it is the safest wyckoff trade, demand has already shown itself 02/10/2003 22:11:53 EST   the MORE meaningful the support or resiatnce is 02/10/2003 22:12:01 EST   yes kent 02/10/2003 22:12:05 EST   Scoot Zacky ! Hey guys, ladies 02/10/2003 22:12:09 EST   we will go over that in the future 02/10/2003 22:12:16 EST   hey Joe 02/10/2003 22:12:17 EST   Hi Joe 02/10/2003 22:12:27 EST   hi joe 02/10/2003 22:12:29 EST   No Zacky ! 02/10/2003 22:12:31 EST   lol 02/10/2003 22:12:32 EST   zack not here - class almost over, joe -hi 02/10/2003 22:12:36 EST   so what we want to see 02/10/2003 22:12:46 EST   is reactions from precived support 02/10/2003 22:12:59 EST   this is how we see on a rteest if that support is gong to hold or not 02/10/2003 22:13:06 EST   but the strnghth of demand 02/10/2003 22:13:18 EST   the greatrer the reactrion 02/10/2003 22:13:27 EST   the more significant the support or resiatnce 02/10/2003 22:13:41 EST   and we can tell this strenghth or wekaness by price action and volume 02/10/2003 22:13:50 EST   the committement by the cm 02/10/2003 22:14:11 EST   depth of Spring or Upthrusts 02/10/2003 22:14:13 EST   :) 02/10/2003 22:14:27 EST   I am talkign about reactiosn tonight joe 02/10/2003 22:14:42 EST   if a market takes 5 days to rally 10 cents 02/10/2003 22:14:45 EST   dang already in the corner 02/10/2003 22:14:49 EST   that may or may not be a good reaction 02/10/2003 22:14:49 EST   :( 02/10/2003 22:14:50 EST   But 02/10/2003 22:14:56 EST   if it rallies 10 cents in 2 days 02/10/2003 22:15:11 EST   u can see that this reaction was better than the first one i told u right/ 02/10/2003 22:15:18 EST   y 02/10/2003 22:15:22 EST   r 02/10/2003 22:15:22 EST   y 02/10/2003 22:15:23 EST   y 02/10/2003 22:15:23 EST   y 02/10/2003 22:15:24 EST   02/10/2003 22:15:32 EST   y 02/10/2003 22:15:32 EST   it is the price and the time it takes to get there is what i eamn by reactions 02/10/2003 22:15:48 EST   sometimes the reactions are greatrer at diffenrt areas 02/10/2003 22:15:51 EST   in other words 02/10/2003 22:16:02 EST   400 to 410 in beans may be a good reaction 02/10/2003 22:16:15 EST   but if beans were at 800 and went to 810 02/10/2003 22:16:20 EST   ther eis probbaly a diffnerce 02/10/2003 22:16:33 EST   same 10 cents 02/10/2003 22:16:39 EST   BUT differnt levels 02/10/2003 22:16:44 EST   % wise 02/10/2003 22:16:54 EST   markets have greater reactions at higher levels generally 02/10/2003 22:16:58 EST   right dca 02/10/2003 22:17:10 EST   200 pointts in the dow today is more sig 02/10/2003 22:17:15 EST   then when the dow was at 11k 02/10/2003 22:18:04 EST   must run, nite everyone 02/10/2003 22:18:07 EST   I will go over sitsuations about reactions and price in charts as we go on 02/10/2003 22:18:08 EST   User [Ron] left forum. 02/10/2003 22:18:16 EST   n r 02/10/2003 22:18:18 EST   but the main point tonight 02/10/2003 22:18:28 EST   was to see how fast a market reacts 02/10/2003 22:18:38 EST   the strenghth of the rally the volume 02/10/2003 22:18:42 EST   and price action 02/10/2003 22:18:52 EST   the stronger the reaction 02/10/2003 22:18:54 EST   form support 02/10/2003 22:18:59 EST   the greater the demand 02/10/2003 22:19:07 EST   and the more sig that is probbaly is 02/10/2003 22:19:11 EST   the wekaer the reaction 02/10/2003 22:19:18 EST   that means that demand isnt evident 02/10/2003 22:19:27 EST   so that is a reg flag 02/10/2003 22:19:41 EST   test 02/10/2003 22:20:04 EST   sometimes 10 cent sis good demand 02/10/2003 22:20:10 EST   sometimes 6 cents is sig 02/10/2003 22:20:22 EST   it depnds on where u r recting from 02/10/2003 22:20:41 EST   did tonight help? 02/10/2003 22:20:44 EST   any questions? 02/10/2003 22:20:45 EST   y 02/10/2003 22:20:47 EST   yes 02/10/2003 22:20:51 EST   y 02/10/2003 22:20:53 EST   do u understand reactions? 02/10/2003 22:20:57 EST   y 02/10/2003 22:20:58 EST   y 02/10/2003 22:20:59 EST   y 02/10/2003 22:20:59 EST   ty 02/10/2003 22:21:00 EST   y 02/10/2003 22:21:01 EST   yes 02/10/2003 22:21:03 EST   y 02/10/2003 22:21:03 EST   and how imp they are 02/10/2003 22:21:08 EST   and what it means? 02/10/2003 22:21:12 EST   y 02/10/2003 22:21:14 EST   y - applying them is another thing but good lesson tonight - thanks, gary 02/10/2003 22:21:19 EST   y 02/10/2003 22:21:24 EST   that takes time but u will MM 02/10/2003 22:21:26 EST   thx gary 02/10/2003 22:21:30 EST   thanks gary good stuff 02/10/2003 22:21:32 EST   y, thanks gary 02/10/2003 22:21:32 EST   thoery is eay 02/10/2003 22:21:37 EST   making money harder 02/10/2003 22:21:39 EST   easy 02/10/2003 22:21:46 EST   I will send charts tooorow 02/10/2003 22:21:47 EST   thx gary 02/10/2003 22:21:50 EST   easy for you to say 02/10/2003 22:21:53 EST   and we will use this as we go on 02/10/2003 22:21:55 EST   lol 02/10/2003 22:21:57 EST   thx g 02/10/2003 22:22:00 EST   ko, thanks Gary; gotta go. cu tomorrw. Nite all 02/10/2003 22:22:07 EST   User [Len] left forum. 02/10/2003 22:22:09 EST   :) 02/10/2003 22:22:11 EST   have a great night see u tomoorow :) thank u 02/10/2003 22:22:12 EST   goodnight all - see you tomorrow night 02/10/2003 22:22:14 EST   User [gary fullett] left forum.