Proof of pure unadulterated genious

LORD JAMLA

Member
98 9
Shall I stick my head on the line. Hmmmmmm yes I shall.
This is the last bit of divine inspiration I shall be giving away for some time, so do take heed of it.

Buy as much Dow and FTSE futures as you can since this shall by an extremely bullish week. For EW enthusiasts, and this is proof that Lord J can perform the analysis, we are about to begin either wave 2, or more probably wave C of an expanding flat on most major stocks and indices. 3,600 on FTSE and 8,000 on Dow fits Fibonacci retractment levels perfectly as does the time ratio.

Hence, the much feared 'Battle of Baghdad' shall be dominated by the Allies and all the fears you have read in your papers will prove to be unfounded, at least for this week.
 

julesrules

Member
60 0
technical analysis, is not going to be woth anything this week. For pure unadulterated genious you should have been up at 1am going long on eur/usd as i was i did the exact same last week and made a great return.
 

LORD JAMLA

Member
98 9
Hi Jules, so are you saying that the Dow is going down this wekk?? Or you simply don't have a clue where it is going?? I don't need to wake up at 1am to make money from the markets - I can make money from them at any time. I've told you where there going, now you tell me and we'll see who the genius is
 

wysinawyg

Active member
186 1
I'll happily plump for it going down on the week since your post.

In any case I thought you though EW was a load of cobblers.

wysi
 

catsdad100

Junior member
33 1
With the US down 170 pts as I write, and all the FTSE stocks hammered today, I do find it hard to picture this great rally, but I have been wrong before !
Oh, by the way, Lord J, Shepherd is spelt this way not your way !
 

frugi

1
1,827 126
Sorry to rudely butt in but does anyone know where to find free software or a website where I can overlay Fibonacci targets on a chart, ideally over time (left to right) as well as over price (up and down)? Stockcharts used to have an excellent annotation tool but they are charging for it now and don't cover UK stocks anyway.

Cheers.
 

LORD JAMLA

Member
98 9
Jonny, why am i bankrupt, I was long FTSE @ 3616 and Dow @ 7965, come back tommorow and see how much i've made, for the record wysinawg is saying it will be lower this week. Watch me make a clown out of him
 

Mr. Charts

Legendary member
7,370 1,194
What a shame people can't be nice to one another.
Rudeness, like an over-weening ego, never gets you anywhere in the long run.
 

julesrules

Member
60 0
i made 960 pips profit by getting up at 1am

regarding the DOW, i couldnt possibly speculate on what the dow will do over the week, it is impossible to tell.
but i knew once the market opened the euro/usd would rise, thus giving me a profit of 960 pips.
 
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wysinawyg

Active member
186 1
<i>Jonny, why am i bankrupt, I was long FTSE @ 3616 and Dow @ 7965, come back tommorow and see how much i've made, for the record wysinawg is saying it will be lower this week. Watch me make a clown out of him.</i>

OK 7965 seems a fair enough point to go from.

Just to clarify my view on a down week is based on the recent high failing to breach any other recent clear high. I wouldn't trade from here but on the basis that it looks like a clear down trend I'm happy to put the odds of a fall at over 50%.

wysi

(the actual entry I picked was short on the DAX at 2640 about a week ago with a 112 point stop and a 250 point target, but the Dow chart is fairly similar and doesn't have IMHO a clear indication of a change of the down trend recently and whilst I'd pick a 250 point target there are probably decent odds of it extending below this)
 

rglenn

Well-known member
379 4
I am not as clever as most people on this board!

But I tend to agree with Jamla on this one.

It does appear that the bottom for the Dow now is around the 8000 mark , FTSE 3600, Dax2400.

Though there will be a small break below these figures it won't last very long in my own opinion.

Shorting below these figures I don't think will give up many points.

All the best to everyone - may the enlighten ones claim the ultimate prize!!
 

jpwone

Well-known member
254 3
I feel it is going to take some very good news to push the dow out of the downward channel it is in.

Lets beare in mind that the recent economic data has been poor to bad. This has been overridden/masked by war concerns and war news. Once the war news starts to take on a 'war news again' feeling then the market will start to look at the underlying fundementals properly again.

Having said that, I think the new US tactic of sending in a couple of divisions of journalists could be the surprise weapon no-one was expecting. They could be in the process of flash-gunning, videoing and interviewing the Iraq forces to a complete standstill. Nope, can't be that because they seem to be doing that to their own side.

The bottom line is that good news/rallies are still being sold into and the market is still reacting badly to bad news, rumour and even no news. Late last week the market shook off 50 points in minutes on the report of a large explosion in Kuwait. It turned out to be a gas bottle in someones kitchen. This is a very nervous market and nervous markets become cautious markets.

The recent move upwards in the market was partly attributed to the Bush tax plan/credits. These are to be withdrawn or postponed now to pay for the war. Lets have a guess what that has done to the next set of consumer confidence figures.

Nope, there could be some short term pushes up and there could even be some significant gains based on positive news from Iraq but the bear market still has the reins on this one from my point of view.

JPWone
 

RogerM

Established member
752 6
FWIW - when the moment to go long comes, it will feel totally wrong, as it did before the massive pre-war rally, and as shown by divergence in the range of market breadth indicators in AIQ, demonstrated in the "short term ftse bottom thread". For EW officianados, the pre-war rally was the "A" wave, we may be at or close to the bottom of the "B" wave, which should then be followed by a "C" wave up. This will probably only exceed the recent high by a small margin, and then it will be back down again to new lows. As always, peeps will give all sorts of "war" reasons for whatever happens.

Today we saw both the S&P and the ftse hit the 50% retracement of the rally. The 50% retracement of the ftse cash was 3580, and the index turned at 3581. Have we seen the bottom of this retracement? Who knows, but I took the precaution on Friday of closing my short April 4025 calls, having seen the premium almost halve in 2 days. I would have done better to wait until today, but I'm only interested in the easy money that is just there to be picked off the table - not the hairy stuff.

May I also support Mr Charts plea that we should be nice to each other. Life is too short for unnecessary conflict!
 
 
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