Oct 10, 2011 - Issue #288

Still about Europe

CNBC & Fox News (FNC) focus on 'Occupy Wall Street' while european banking system is almost ignored. Greece is not going away. The 'problem' is not solved.

Ron Ianieri Mentoring (IONOPTIONS) session described how he determines possible future support/resisitance lines and his unique use of moving averages to look for possible trade set-ups. Stuff you won't read about anywhere else.

If you don't sign up for his next class, you need to ask yourself if you're really serious about becoming a successful trader.

Combine that with MarketClub's 'Trade Triangle' technology algorithms and give yourself a fighting chance. Learn how to separate the BS from what's really important.

Speaking of BS, even the Democrats don't want to vote for Obama's so-called 'Jobs' bill. What does that tell you? If Obama was a stock, buy puts.

Countdown till 2012 elections: 56 weeks.

Heads Up

W. D. Gann, a keen market observer, although not an astronomer, nevertheless, was fascinated by the apparent coincidence of important market 'pivot points' and astronomical dates. Theories exist for estimating time and price of important market turning points but astronomical occurrences are computed with mathematical certainty.

There is no logical reason why these occurrences should coincide yet, empirically, they have.

The 'Full Moon' and 'New Moon', among others, have been cited. Therefore, one might be well advised to be aware of their occurrence. Note: The first 5 business days of 2008 concluded on a 'New Moon' and we all know how that worked out. Coincidence?

10/11 Tuesday - Full Moon (AA reports earnings, just saying).

10/26 Wednesday - New Moon.

During the next two weeks, the following DJ-30 components report earnings. Keep a sharp eye out for possible price swings leading up to 'earnings day' (Subject to revision):

10/11 AA.

10/13 JPM.

10/17 IBM.

10/18 BAC, INTC, JNJ, KO.

10/19 AXP, TRV, UTX.

10/20 MSFT, T.

10/21 GE, MCD, VZ.

Dow score card for the week ending 10/7/11.

DJ-30: 11103.12 +189.74 +1.74%. The Real World (arithmetical) DJ-30: 48.90 +0.84 +1.75%.

UP: 22, Down: 8.

Trends (weekly charts): This is the subjective part.

Rising (Generally Higher Highs/Higher Lows) 5 (+1) 17%:

+*CSCO, +*HPQ, IBM, +*PFE, +*WMT.

Consolidating (Generally Lower Highs/Higher Lows) 22 (N/C) 73%:

+*AA, BA, CAT, CVX, +*DD, DIS, GE, HD, INTC, JNJ, JPM, KFT, -*MCD, +*MMM, -*MRK, MSFT, PG, T, TRV, UTX, -*VZ, XOM.

Declining (Generally Lower Highs/Lower Lows) 3 (-1) 10%:

AXP, -*BAC, -*KO.

+/- denotes change of direction.

* denotes change of category.