Tag Archives for " Elliott Wave "

0 Don’t Tinker with Trading

When used as a verb, tinker has the following definition: attempt to repair or improve something in a casual or desultory way, often to no useful effect.

When I was younger I would have several successful trades or weeks, then get hit by a big loss or several losses and I would immediately start to tinker with my trade setups and indicators.

This of course immediately messes with your head and doesn’t help. I was reminded of this as I watched golf this weekend. Continue reading

0 Here We Go Again

Jobs, jobs and more jobs. On Friday the jobs report exceeded expectations so the market exploded higher. This was just the opposite of what happened in June. You do have to wonder what the heck is going on.

And the number is…

Did someone in the Labor Department leave out something in June? Did they add it back in for July? Who knows.  All I know is that the stock market went up and the SPX now sits a whisker away from an all-time high.  The DJIA is a little further away and the NYSE Composite is even further away. Continue reading

0 Bull’s Last Stand

Little Big Horn Battlefield

On this day in 1876 several hundred men, led by an overly confident Lt Colonel George Armstrong Custer, U.S. Army, rode into an area in what is now southern Montana near the Little Big Horn river.

They engaged an Indian village there and grossly underestimated the strength of their opponent. They ran into several thousand, very unhappy Lakota Sioux and Cheyenne Indians.

In what is now known as Custer’s Last Stand, Lt. Colonel Custer and about 210 of his men, were completely overwhelmed and wiped out.

In the mid-1980s I read a very detailed account of this event in a book called “Son of the Morning Star: Custer and the Little Big Horn” by Evan S. Connell. It was very good.

Bull’s Last Stand

As I thought about Custer’s Last Stand, I thought about the stock market this week and the events surrounding the “Brexit” vote in the UK.  I wondered if the market’s eruption in bullish enthusiasm on Thursday, might have been the bull’s last stand. Continue reading

0 Netflix | Say Hello to Mr Bear!

0 Nike | It’s Been a Nice Run

In this short video I look at the long-term weekly and daily chart of Nike (NKE) to see what the Elliott Wave picture is telling us.