Oldtent Archives 2007 - 2008

Wait a minute…..I have a lot of addresses here…you should package up some blood pressure medicine and ship it out to the tenters before you go to bed.

funny you should ask about crude. there was a 5 point rpw up just before it rallied from $90.00 to $140. if crude makes a new low for this move, it will create a rpw up.

going to bed.

rno

Underwear fights aside[which can get ugly] take a look at Cosmic Trains post earlier..the prudent bear article sums up pretty well in a decent grouping of charts ,just what the heck J6 is in for….I sent it to some of the stragglers in my family ..yeah like they will believe or understand it…..I feel strange….I am down here and they are up there….It is not so much who is right or wrong…..but the fact is that if they are wrong…they might not get a second shot at protecting themselves.

A picture is worth a thousand words…. I’m a duck’n right now….let me know when the coast is clear…

Irish is right in his 23:28 pm post.  Look what happened to these unsuspecting friends who got caught in the underwear crossfire, not a pretty picture:

You know very well that you could be resposible for and attempted suicide with your explanation of rpw. Fully …don;t go near the white light..stay away from the light…..

….How about Oil …any RPW action ?….its wild !

forgot to mention that you should look at the 60 minute chart of the yen. notice the stab down for the stops. very typical of a reversal day.

rno

…Please delete

You see how well we can come to attention on this board in short order. My regards too all involved..and quick footed Fully.

Dusty a food fight would be ok, but just think if somewhere in the flinging of things you got hit with an unlaundered pair of Goldballoons ammunition. Wow, that would be considered an escalation of hostilities. You might have to haul out the belt sander.

a reverse point wave is formed when a formation is created similar to a broadening top or bottom. i will describe a bottom. a rpw at the top is simply reversed.

point 5 is the low day
point 3 is lower than point 1 but higher than point 5
point 4 is higher than point 2.

a seven point rpw is another high from point 5 (point 6) then another low below point 5 (point 7)

look at the yen chart. point 7 made tonight, point 6 is high of aug 21, point 5 is low of aug 15, point 4 is the high of aug 13, point 3 is low of aug 11, point 2 is high of aug 7, point one is the low of aug 6.

several strategies can be used for entry, exit and stops. the highest percentage is to enter on a close above the high of the low day. sometimes the risk is way too high because the stop should be a significant distance below the low of 5 or 7. look at december silver. the stop would be $2.00 away.

i cheated on the entry point tonight on a british pound. the rsi w/divergence indicates a bottom is near. the 7 point on the yen also indicates the same. the rsi on the usd index is almost off the chart. grains are in rally mode while the usd index is up. one (grains or usdx) will turn soon. we also have a h&s in the making in the gold and a rpw in the silver. they also slammed some of the markets just after the opening and didn’t take out the lows within the first two hours. i was able to enter with a stop at about $250. loss and a potential $5000. gain. i like those odds.

the hard part of the rpw is to get in with acceptable risk. sometimes you get a reversal on the point 5 day and the market trades back to 50% of the bottom days range. it’s very common to get a h&s bottom with the left shoulder being point 3 and the head is point 5.

hope this helps.

rno

I concur lets not go down that path.

….the concern is a “Mini Reigious war “…could result ….many people have a lot of energy invested in their religious beliefs

….So we should not continue down that path…

….Golden Maples…..you out there ?

I ABSOLUTELY agree with your point of view in regards to your previous posts. However, I have to go along with Fully in that this is not the place to express those viewpoints. Somebody (have no idea who) is going to take exception to your thoughts and a huge food fight will ensue. I just don’t like to see that here. It always results in bad feelings and a poster of two gone from the Tent.

Respectfully
Dusty