Sunday, March 21, 2010

TRADING RANGE JEWEL updateI

In a yr like this yr, the best tape readers in the world focus on individual stocks rather than obsess over the direction of the broad market. The whale (Joe) has already talked to us about this subject and Clif droke in his latest article posted today talks about Tape reading.

Tape Reading


There’s no substitute for good, solid market analysis when it comes to stock trading. Fundamental analysis is important, too, but for traders with a short- to intermediate-term outlook, being able to “read the tape” is a skill worth its weight in gold. Watching the flow of trading volume in a stock in relation to its price level can provide a major edge in buying and selling at the right time. The great advantage the tape reader enjoys over other traders who don’t use a scientific approach is that the tape reader can decide which side of the market affords the best opportunity for profit. By process of elimination, the tape reader either gets in at the commencement of a price movement or else waits for the first reaction after the move has started. As the famous market technician Richard Wyckoff observed, “Tape reading gets you in at the beginning, keeps you posted throughout the move, and gets you out when it has culminated. It has made fortunes for the comparatively few who have followed it.” It was for the purpose of distilling tape reading to its essence that I wrote “Tape Reading for the 21st Century” in 1999. Now in its third edition, this book explains the basics of tape reading in layman’s terms. The book uncovers the mechanics of tape reading and provides the most essential rules and guidelines for understanding volumes and how they can be used to predict stock price movements. This book is unique in that it also explains how “tick” charts can best be utilized for micro-term trading along with volume analysis.

http://news.goldseek.com/ClifDroke/1269176400.php

http://www.clifdroke.com/books/book05.mgi

http://news.yahoo.com/s/ap/20100318/ap_on_bi_ge/us_bonuses_for_regulators;_ylt=Ane1w9P7AnhFFDGwzVCxgBmzvtEF;_ylu=X3oDMTNlZDA4Z2JnBGFzc2V0A2FwLzIwMTAwMzE4L3VzX2JvbnVzZXNfZm9yX3JlZ3VsYXRvcnMEY2NvZGUDbW9zdHBvcHVsYXIEY3BvcwMzBHBvcwMzBHNlYwN5bl90b3Bfc3RvcmllcwRzbGsDZ292dGJhbmthdWRp

26 comments:

  1. Step it up, I need more challenging material and people to interact with. Move up to the next level beyond this, then I engage with you on that level. I feigned interest so far, time to hit me with something harder. Put out something that you have never been able to have anyone answer, and see if I have a response on it.

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  2. anon.. so far all my challenging materials have been answered by the best and you are not it.
    Jim

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  3. And Jim, how do you know me from a fence post? Outside of you leeching for answers with nothing to add outside of kissing anonymous people's a_ses.

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  4. I know all the regulars and it's easy to spot a troll who posts as anon. This site is not for you, go fuck yourself coward.
    Jim

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  5. Post your picks "Jim". Not after the move occurs but before and give the entry and exit.

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  6. How about we end this by saying we are in a bad mood and move forward from there. Do you think this market favors that?

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  7. I never give my picks to any one on public boards since it's not your fucking business, I have more courage than you since I do not post as anon. Only a coward posts as anon.
    Jim

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  8. You thought the first post was ego it was not. I'm not a troll. Go to MB's for that. I want people to be successful. Don't try to draw me in on some kind of online fight with someone I don't know.

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  9. The regulars post their id here, let me guess you are afraid to mention your id and that's why post as anon.
    Jim

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  10. No, that's not the reason. I read the site but it has to remain anonymous. I made a post here several months ago the same way, it has to remain that way. Jim, you are reacting so something that you do not need to. I do not want to get into a confrontation with you. I put that message out there and it was not meant to be insulting. Don't escalate this into something when it does not need to be that way, it was not what I posted that for.

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  11. I do not give a fuck who you are, there are three people here I listen to and you are not it.
    I never take any one who posts as anon serious.
    Jim

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  12. And who are the three you listen to here Jim. I know Kliguy38 and Joe are two of them, who is the third person?

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  13. Analyze is the third one.
    Jim

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  14. Go back to SKF board, that's where you belong.
    Jim

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  15. You seem like a good person Jim, and like I said I have no reason to fight with you. Maybe you have had a stressful night and are not feeling well. Let me stress one more time, I do not want to fight with you or anyone here.

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  16. post your id and there is no problem, you will not be taken serious unless you post with your id, this board is not for anons.
    Jim

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  17. I respect your opinion Jim, and I will not bother you or this site any more. I wish you continued success and you will not hear from me again. I mean that and am sorry if I made your evening uncomfortable. I also extend that to this board as well.

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  18. If you are sincere and want to communicate then post your id like all the other regulars do, refusing to do it shows fear.
    Jim

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  19. I agree Jim, fear makes a fool out of everyone. I have to drop off now but I wish you success. I am aware of Kliguy38, Joe, and Analyze. They certainly seem to have intelligence like Mozart and do not miss often. I often wonder how people can come up with predicting SPY and market direction to the decimal point, I have never seen anyone who can do that like these people.

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  20. Because of the regulars especially Joe whom I have been following for over a yr I have done very well in the market. I do not need any one else when I have the best.
    Jim

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  21. Joe probably has an IQ over 180, his proteges of Kliguy38 and Analyze are not exactly dumb either. You are in good hands. Joe is more experienced and reigns in the enthusiasm of Kliguy38 and Analyze. Kliguy38 loves the thought of betting with the Fed like a casino and beating the stacked odds, Analyze is so absorbed with being the best technical analyst on the planet that it may be a distraction to him. Joe brings them back to earth, so follow him and pay attention to his two proteges since they have their moments of brilliance. Gotta drop, good night.

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  22. Anon, one of the purposes of Kli's board is to have people start critically thinking and preparing for the end of the Grand Super Cycle, while trying to guess the what the insiders at central banks are planning and the impact on overall portfolios and the occasional discretionary vegas trading positions. The trading bones and occasional free cans of Alpo are literally a loss leader in term of time and resources.

    If you wish to contribute in facts or analysis that can be tracked and back tested to an id, you are welcome. If you are trolling for attention the SKF board or Daneric's board is better suited for your interaction style.

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  23. All,

    Is anyone getting long oil at these levels, or expecting a strong and furious rally in precious metals in the near term?

    I've heard some interesting...analysis...about concessions the US is making or has recently made to some of our Frenemies, and the nut of it is oil must go much higher from here if we are to continue to expect cooperation on a broad scope of policy issues which affect our financial markets, economy, and military capabilities. Among them, I heard oil has developed and will continue to share an inverse relationship with the 2014 Sochi Olympics.

    Further, add Sochi as a possible black swan event around the time everyone here expects long term cycles to head down...the kind that could trigger a world war. One everyone should be paying close attention to instead of obsessing over Iran. It didn't seem plausible when I heard this but I trust the folks I heard it from.

    I guess there are any number of ways to push oil up further to $100+ from here, but I don't know which are trade-able. Am I wrong to assume a better trade is to get heavier into miners if we get a bit of a pullback the next week or two?

    fab

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  24. Great analysis fab...and yes add to core but don't lose 50% cash position...if miners remain in down trend then it could extend for several months....either way long term you won't get destroyed. Red is spot on with what this blog is about and that is why he posts here period.

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  25. At work tonight and will participate if I have a computer that lets me out......hehehe. See ya.

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  26. Lets get drunk and post.

    Anyway I am sober.

    I have been following PU gridirons for the last couple of weeks and having success.

    I have a small position in AUY at the moment and I think I will sell the open tomorrow any opinions.

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