Smart Trades Update 10.7.11 S&P, SPY, QQQ, Nasdaq, Bonds, TLT

[MisterE103]

Bill I guess there's no pullback coming, the WS casino ran the S&P up 30 points on disappoiting kicking the can down the road comments from Merkel / Sarkozy and an EU insolvent bank having to be disected to remove it's cancerous parts. Todays move was yet again the hand behind the curtain forcing a brief, sharp rally (Short covering) combined with the GS / MS bots walking it up. Do you see a pause / pullback or just further 15 -30 point updays on further short covering rallies?

[T1systems]

@MisterE103 My service does live updates. For example on 10.7.11 I called for the decline to find support at INX 1150 (actual low 1150.26). Today 1190 was the call (actual low 1190.58 so far). It's impossible to produce and upload videos in a timely fashion intra-day. I would love to give everyone on YouTube personal free advice, but alas I must work for a living. Moreover, the more detailed free info I share, it seems the more hate-mail I receive.....so why do it?

[T1systems]

@T1systems "Today 1190 was the call (actual low 1190.58 so far)...." fwiw, that may still be just "a" or even the beginning of a larger decline. I haven't decided yet. NDX very close yesterday to "A=C" off the August low. Again, the details are available through my service at Smart Trades Dot Com.

[ghoshdd]

@T1systems

Thanks Bill.. It is completely my opinion.. Why you don't provide 1 or 2 weeks free promotional offer of your service so that we can decide more practically about joining in your paid service..Again it is purley my opinion..Thanks

[T1systems]

@ghoshdd Thanks for the suggestion. I've considered doing that, and at some point I probably will. The problem is the process of adding, removing, and tracking new (free) subscribers is time consuming. Moreover, I've provided 136 free samples in the form of videos as it is. I make no claims of profitability,....

[T1systems]

@ghoshdd I make no claims of profitability, but as an example, if you had bought one ES contract at the worst price possible after the 10.4.11 video any time on 10.4.11, you would have been up 100 ES points ($5000) near the close on Friday 10.14.11. Your worst possible draw-down would have been less than 14 points. That one trade would have more than paid for my service for 10 years..... and it was off the *free* video.

[T1systems]

@ghoshdd One of my competitors charges $39 for a "two week trial". My service updates daily and intraday, his only three times per week. I deal with inquiries 24-7, getting emails on Saturday night, and eventually my free video counts end up on competitors sites / channels with zero acknowledgement nor compensation. I'm not complaining, but asking for some small compensation for sharing 40 years of work and experience is not unreasonable IMHO.

[pipercolt1963]

Either way we're looking at a pullback here. Thats the best rendition of that sideways pattern I've seen from the stream.

[T1systems]

@pipercolt1963 I'm not clear what you mean please? FWIW, although I favor some corrective-small pullbacks along the way, I favor 1230-1280 and then a "pullback".... Even then, as always, I'll let the market confirm the pattern (and my humble analysis) rather than assuming I'm right before we even get there. #1 dumb thing I see: analysts imposing their ideas on markets rather than letting the market's patterns tell the story.

[MisterE103]

Thanks Bill. Btw I've heard it said from 2 reliable inside sources that the WS crooks (GS, MS, JPM, etc.) buy and sell on total insider trading (Leaked key earnings, economic data, black swan events like the S&P downgrade, EU news) and only the rest of us schleps try and beat the odds using t/a. Remember about a year ago news came out that the major WS firms made windfall profits as their trading in a 30 or 60 day period was perfect, not a single loss in any of the firms during that period.

[T1systems]

@MisterE103 Yes, I agree. There has always been internal corruption in the markets. BTW, I posted the CNN-S&P story on the CNN discussion board and my post was censored by CNN. The fact of the insider leak doesn't surprise me at all, but that S&P shared the fact with treasury, treasury shared it with CNN, CNN aired it, and *NO ONE* (not Fox News, nor the Tea Party, no one) found anything wrong with it is telling. The *entire* media and political system is corrupt as well as WS.

[zeuthuk]

@MisterE103 In terms of intra day news a bank trader told me institutions pay alot to receive the news first, assuming by electronic means hence I don't trade news events as those guys are usually there first.

[T1systems]

@zeuthuk I never trade into reports, but sometimes 5-10-15 minutes after the report, after the shakeout, it's trade-able.

[zeuthuk]

@T1systems I know a few traders who do the same, leave the institutions to their games.

[Andronichuk]

Hi Bill, take a look at Silver sometime... looks like a very clear ABC that is coming to an end with one more dip... before a major rally sets off to new historic highs

Personally I am looking to buy up a hell of a lot of physical silver if/when we see one more dip, most likely to go around the $25/oz area.

[T1systems]

@Andronichuk I agree Max. Nice call, although it could be "A" of an even bigger ABC. Nonetheless, I agree, it should be a buy. Gold can also be counted as an expanded flat, Bonds may be peaking (nice 1.62 x A), and DX may be at a 1.62 x A on a smaller scale. A lot of pieces fit. Again, nice call, and thanks for your input.

[Andronichuk]

@T1systems The major difference with silver is: unlike Gold, it hasn't burst through it's historic High (around $50)... if/when it does, it could sky-rocket (Inflation adjusted historic high is $137!)

Gold's inflation adjusted historic high of the 80s is around $2200... comparing the two metals, Silver is vastly undervalued :)

[T1systems]

@Andronichuk My point about Gold was that assuming it's decline is also corrective that supports your silver count (no intention to compare them). That said, assuming the current decline is a "4", an extended "5" equal to "3" targets 65 or so, 1.62 x "3" is about 92, and 2.62 x "3" is near 132. I agree silver may be a buy, I'll wait and see about 137. Even an extended 5th tends toward equality when "3" itself is extended.