Globex 11-07-08

Good morning all! First a couple of comments.As you see, my 923 number was hit during last nights globex action.Im so proud of many of you for keeping an open mind and trying to work with , and understand my 'Kools tools'! Really, im flattered. Ifeel like Vo,Margie, and wsj are making tremedous progress. Yesterday was particularly difficult for me since the cycles were very hard to identify accurately due to many bars with the same high or low in close proximity, bars with a high next to abar with the candle body and close higher and so on . Always hard to know which one to use! Anyway, we were able to identify the daily low (within a couple handles from quite a distance away) and know that it had the liklyhood of being a 'decent'(meaning a lot of handles , not just 3-5) one.

hey kool u wrote earlier that we will make a top on Thursday but it came day early and also u wrote that 13 and 17 will be the next leg up till end of dec or till Jan...

do u still think market gonna sell off early next week.

if 912 fails target is 908.00

i am leaning towards short side but waiting for kool to confirm.. dont want to jump...

es @ 915.50

why failure of 912 lead to 908??

Well, i tried to warn everyone about the closing ticks over plus800 a few days ago, but everyone was so 'bullish' im not sure to many paid attention. Now weve declined basis the dow the largest 2 day setback since Oct.20th 1987! Over 11% on the s&p500 in just 2 trading sessions! And ive tried to raise concern because of the 45 day cycle due the end of next week! WE'LL SEE WHAT DEVELOPS!

formation of MA pattern on 1 min chart...

M pattern followed by lower A.. right now its forming "A" by making lower low...but this pattern tends to fail

Hey Kool;

I make projections off of the 1 2 3 4 5 10 13 15 30 60 min. bars.
Would you mind saying which times from your experience hit their
target the greatest % of time? I am using a different tool other
than what you use. I wanted to see if there is a common thread with
projections.

Thanks

SURE, RED, i find that in general, the larger the time frame used, the more 'slop' or error (plus or minus) possible . Makes sense really. For the most part ,in my scalp trading i use a 1 min. chart and a 5 min chart. Once in a while ill use a 15 min chart.

Akola , i still believe a decline is going to come next week! Since we have declined the most in 2 days since the oct crash, a rally for a day or even 2 is always possible, but in a bear market anything is possible. TAKE NOTE THAT THE ALL IMPORTANT JOBS REPORT COMES OUT AT 8:30 TODAY! And its expected to be very negative.

Hey Kool, also took a look in the sky and we are just a few days off a Full Moon

Strange things happen on Full Moons. Like Lows and Highs :)

Just my 2 cents for what its worth.

Thanks for the education I have been following with great enthusiasm

regards

FWIW the lowest projection I have for today is 904.75. The rule is this projection
must be taken out before a turn; this has happened. However; I have a projection from
yesterday @ 866.50 which is also a weekly S1 that is still active. Now the question is do we go get that
area? Time will tell.