11/2/04 Intra-day Comments for RJO / Fastbreak visitors
11/02/04
Mid-Day update on GOLD -
December Gold
(GCZ04) is moving lower today (last off almost $5 per contract). I talked
about GOLD in my report (Monday Nov. 1 2004)
last night. I provided a graph highlighting the bearish indications that
support my current bearish outlook in Gold. Regarding the price
structure, we currently have a bearish "M" formation which is a
technical pattern derived from price. Supporting this is another indicator
derived from the COT data (which is totally unrelated to price - that's what
makes the COT so powerful). Remember, to get the most use from
the COT it is very important to combine the COT with certain price derived
indicators and/ patterns. I have studied and researched this for 10 years!
I am confident that I now have the optimum blend of COT derived indicators and
price derived indicators! However, I am still working on yet NEW measures
and indicators too! If you become a member today and I add new indicators
tomorrow, as long as your membership status is good (paid on time and to date)
you will not pay a dime more! That's always been my promise and commitment
to fellow traders!
GOLD
is currently triggered as a SELL selection via our core UCL/LCL indicator (IMPA
or COT indicator as discussed). This means its a sell selection, although
not officially complete as a short-sell setup yet. However, there have
been several early entry points now. We had an early entry via the
Reverse Plunger that recently formed (captured on our charts and listed in the
automated plunger report). In addition we have the "M" structure
at the current price top in gold as well. Both the plunger and the
"M" pattern provide logical stops for early entry points (with lower
monetary risk)! All of this was known yesterday and in the days before
that as well. In fact I've been discussing this situation in my reports
over the last couple weeks now via the IMPA sell and RP during October. We
also know that October tends to be a tough time (fearful time) in
equities. Any fear that drove Gold prices a little higher during
October may be coming out of this market now as October was an extremely calm
month for equities! You know my position regarding equities too. I
am bullish as I have made clear (via a potential Q4 rally regardless of who wins
the election, it doesn't matter as long as it proceeds calming and
properly). And guess what, equities are higher again today as well!
I discussed Gold in last night's report as well, pointing out the Reverse
Plunger, "M" structure and IMPA sell selection.
Are you ready to begin an education in advanced Upperman Trading Strategies?
As you have now seen yourself, these strategies are unique. And most importantly, THEY WORK. Look at gold for example, my outlook was provided in last night's report. Now look what has happened today.
This IS a unique service. The majority of other trading services like this are typically second sourcing BAR-CHART price charts or pasting (adding) their opinions to Gecko price charts using common public indicators (support and resistance and common stuff like that). But let me ask you this, Where else do you see "IMPA" indicators applied? No place else but here! Why? Because I created the IMPA myself and I do not and will not share these indicators with any other software distributors. Yes I am shellfish in that I won't share them with big software distributors. However, I don't just keep them all to myself either. I know that successful trading is NOT 100% about any indicator or system. That's why two people trading with the exact same indicators can have totally different results. PEOPLE are the final element to success in this business. Furthermore, regardless of what many will try to lead you to believe, the fact is there isn't always a trading opportunity! Thus, successful traders are NOT constantly trading. There are times when there are no trades and we must be patient (spending some time doing other things). I choose to provide this service so that I do NOT go looking for trades all the time (because real opportunities in the market may not occur every single day). However, my experience has been that the opportunities cycle (like everything else). Recently we've had many opportunities with the plungers for example.
Successful traders have learned TWO
very important skills (critical to success in this business).
1 - We know how to recognize the opportunities (using the right indicators
and measurements)!
2 - We are willing to WAIT for these opportunities and thus avoid trading for the sake of trading!
OPPORTUNITY
KNOCKING:
Both GOLD and SILVER are listed in my weekly IMPA report (Sunday's report)
as IMPA SELL SELECTIONS. This is the FIRST criteria for an IMPA sell
setup. GOLD also posted a REVERSE PLUNGER in recent weeks which continues
to hold (marking the TOP). This RP created an early entry point for
selling short GOLD in recent weeks. Incidentally it is now last down $8 an
ounce (basis Dec). Furthermore, Silver is sharply lower today and it too
is an IMPA SELL with a recent Reverse Plunger (RP). In fact Silver posted
a REVERSE PLUNGER on the SAME DAY GOLD DID! The RP marks the TOP in
Silver prices too. Someone asked a question about the arrows on the lower
x-axis of our daily trend/swing price graph. These are actually carrots
(that's what I refer to them as anyway in case you read about that in an older
report or on the manual). Anyway, these carrots show where ALL plungers
have formed over the last 161 trading days! This is an excellent history
for plungers (and its available in every market). You will see here below
that SILVER has an excellent history regarding successful plungers over the last
161 trading days (see graphs below). Now if this doesn't show you the
power of these two strategies (IMPA and the plunger) I really don't know what
will.
I am going to provide both the UCL/LCL graph for Silver and the daily trend/swing price graph for Silver below. The UCL/LCL graph is the first one and it shows the IMPA sell selection (which is where the red line reaches the lower LCL). The daily trend/swing graph contains the RED and BLUE carrots along the lower x-axis which show the recent plungers (Joe, I hope this helps)! Don't worry if this gives you goose bumps (it still does that to me also, and I have been working with this data for 10 years now)! Wow! Lets look at Silver now together shall we.
Folks I don't care what anyone else offers me for these indicators. I am
going to keep them private. They are mine and I have been perfecting them
for years! I don't know if I'll be offering this service forever
(doubt it actually) but for now I do not have any immediate plans to stop
assisting people. This is what I do and the bottom line is that I like it
and I know I am good at it. I may not be a good "web site
creator" as I don't have all the fancy bells and whistles on my website and
on these pages. I am sure Bar-chart, or Gecko have much fancier websites
and teams of sales people working them. That doesn't matter to me as
I know those services are designed for the public. They are not designed by
individual traders who are focusing on unique cutting edge strategies (that may
not sell well because they are not as easy to learn as other indicators that
have been around for years). I challenge you to look at other services
(some you may be using). How many are re-packaging indicators and
strategies that have been around for years (fib retracements, support and
resistance and all the stuff that works great in hindsight). How many have
taken the time (10 years) to build an entirely unique family of indicators
(unique and proprietary via their own software)?
Everyone
of our studies and graphs are proprietary and thus generated from MY OWN
programming and my own software! No one else has these indicators because
I created them myself and have not shared them with any of the public software
(and again I don't plan to have them incorporated in any other software).
If you are really ready to look at the markets in a very unique fashion, using
our COT and Price derived indicators then I recommend you join today and I truly
recommend you signup for the 1 year membership so I can send you a 12 hour
workshop video which will help you understand and appreciate every unique
feature of MY very unique (one of a kind) service!
More samples -
This example shows how we combine our daily trend/swing graph with our
proprietary de-trended study. We have daily trend/swing graphs in all 45
markets and each one of these is accompanies by a de-trended study positioned
directly under the daily trend/swing graph! The de-trended studies are
proprietary as well and were introduced in 2003!
All daily graphs and price studies are updated each evening before my report
with the daily price changes (via open outcry data)! Any corrections in
the data are managed by our software (the data is constantly maintained to the
highest degree of accuracy). We currently maintain well over 1000
unique graphs and studies covering 45 markets in detail. The graphs and
indicators are kept up-to-date via our software and servers so you do not need
to worry about loading software or managing ROLLS. We do it ALL for
you! When you are ready to experience the entire service and access
everything in the VAULT - Simply signup and we will provide you with your own
username and password.