according to carl futia, noted lindsay/wychoff expert

... the correction is over! watch closely with me, folks. today's close and tomorrow's open could be BLAST OFF! (george lindsay was the first great daycounter, part of my approach.) comments?

Edited by humble1, 02 February 2009 - 03:46 PM.

since the prevailing trend is down, then the "correction is over" idea YOU have is more likely accurate prevailing trend prevailing trend prevailing trend

Edited by hiker, 02 February 2009 - 03:52 PM.

disagree: trend is UP since 11/21.

humble, if I may ask.. when did you go long and what adjustments have you done to your long positions lately? More importantly, do you have enough $ left to add and would you add on a break out or break down?

Humble, you know I love you like a brother, but can you post a stop loss level at which you change your mind -- a close below SPX 740, for example? Or is it a case of bullishness without regard to s/t price level? Right now, I'm bearish unless SPX crosses above 848 and then I'd re-think it.

Edited by Slothrop, 02 February 2009 - 04:04 PM.

dc/slo: i have explained all that many times and i don't mind you asking but i will give you the quick answer: all my major position buying was done within the 10/10/08 bar where i covered shorts and went long. i have nothing on margin. i have plenty of money left but am all in for this particular bet. there will be no stops but neither will there be add-ons. my major positions are leveraged through well known mutual and etf funds. but, let me tell you this: it is the bears/shorts who should be worried. they are about to be SKINNED ALIVE!!!!!!!!!!!!!!!!!!!

Edited by humble1, 02 February 2009 - 04:06 PM.

there will be no stops but neither will there be add-ons. my major positions are leveraged through well known mutual and etf funds.

Okay humble one.....leveraged longs, no stops. Assuming that even you are not omnicient, then it follows that there is at least some chance that you could be wrong. Right? Do you have any exit strategy in case this doesn't work out as you expect? Just asking because, since you post your market outlook here every single day, we are probably entitled to the rest of the picture. Thanks Bro. D

there will be no stops but neither will there be add-ons. my major positions are leveraged through well known mutual and etf funds.

Okay humble one.....leveraged longs, no stops. Assuming that even you are not omnicient, then it follows that there is at least some chance that you could be wrong. Right? Do you have any exit strategy in case this doesn't work out as you expect? Just asking because, since you post your market outlook here every single day, we are probably entitled to the rest of the picture. Thanks Bro. D

Lets see...Bearish all the way from 2003 to 2007 according to what I read here...SO...I guess he's gonna remain bullish all the way into the 600s...Just ignore them posts....No value in them....Just waste of bandwidth...Lots of wind blowing and cheerleading

IYB - you may be interested in Doug's chart set (well known to TT old timers) -

see his Jan 31 blog post -

http://patterntrading.blogspot.com/

Edited by hiker, 02 February 2009 - 04:32 PM.

humble, This market is very humbling. Once you think you have it figured, it changes on you. Our ETF alert went short last Wed and covered today. Now I am bullish for about a week. I have to refigure all the time. Can you? Or all you always bullish and what time frame? That is just as important. I am generally bullish, but... have we reached the bottom yet... I don't think so, but I could be forced to change my mind. Can you?