ACTS Money Machine

11 Commonplace Market Views: True or Myth?
by Susan C. Walker

Do you believe that earnings drive stock prices and that it’s enough to simply beat the market? Better think again, once you read how Elliott Wave International debunks these market myths. Read More

BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0730.ET
World and  US Markets/Futures are mixed-Flat.
QQQQ/SPY are currently Trading at 44.63 / 110.17 . . .
QQQQ is outpacing SPY again .. especially with the good HP numbers out.
The US-Dollar is Up Strong overnight to well over 80 now.

The Opening will depend heavily on the Big BMO Reports due out. . . . the Markets are a little Over-Bought now, so I wouldn’t be surprised by a small pull-back today . . . an Up day would bode well for the Bulls.

There are lots of Big Economic Events out today.. starting at 0830.ET

NOTE: . . Subscribers .. please check your PayPal email for your new account specs to the new Members’ area.

AMC Commentary

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Bob Prechter’s “Conquer The Crash”: Eight Chapters For Free

BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0715.ET
World Markets are Mixed-Flat and  US Markets/Futures are Down larger than usual.
QQQQ/SPY are currently Trading at 43.38 / 107.43
The US-Dollar is Up Big .. well above 80.5 now.

It’s looking like we’re heading for a Down Opening .. but we still have big news out at 0830.ET that could easily change that. . . . However, it is key to note that the Bullish enthusiasm from yesterday is not spilling over into today .. we’re seeing weakness early on in pre-market … and even in Gold (1081), where the 1080 level is key Support.

There are several Big Economic Events out today.. starting at 0830.ET

AMC Commentary 

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How A Bear Can Be Bullish And Still Be Right
By Nico Isaac

In recent months, Elliott Wave International President Bob Prechter has become something of a household name. In the final two days of August 2009 alone, Bob was mentioned by several news outlets from MarketWatch to the New York Times. The claim to his “fame”– Read More.

BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0730.ET
World Markets are Up Big and US Markets are Up strongly right now.
QQQQ/SPY are currently Trading at 43.34/ 109.45
QQQQ Resistance is at  43.61, then 43.80, then 44.14, then 44.68, then 44.92
QQQQ Support is at 43.40, then 43.17, then 42.8x, then 42.3x

Use these levels to look for turn Signals and Targets .. or the lack of them for continued follow-through.
I am leery of the strong Open we are looking to have now . . . make sure there is follow-through higher and a breaking of Resistance that Holds before loading up on Long Up positions. … as a Bear, I will be looking for weakness during the Open to Short … but will not fight continued Strength in order to do it.
Be  sure to check back here tonight for my Commentary on today’s action.

There are some Economic Events out today starting at 0745.ET.

Precious Metals are Up over 1% and  the US-Dollar is Down right now.

AMC Commentary

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Carb Rotation Diet . . . this is the one I used to lose 18-pounds in less than 1-month!

More than 130 banks will have failed by the end of 2009. Is Your Bank Safe?
By Gary Grimes

By the end of 2009, more than 130 banks will have failed. Most depositors will have little clue their bank was even at risk. Worse yet, the string-pullers in Washington are doing everything in their power to hide information about the safety of your bank from you. Learn what you can do now to protect your money.  Read More

BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0630.ET
World and US Markets are mostly Down slightly.
QQQQ/SPY are currently Trading at 44.03/ 110.40
QQQQ Resistance is at 44.68, then 44.92
QQQQ Support is at 44.14, then 43.80, then 43.61, then 43.40, then 43.17, then 42.8x, then 42.3x

Use these levels to look for turn Signals .. or the lack of them for continued follow-through.
Subscribers, read what I wrote last night and look at the Annotated Charts I posted then for guidance.
Use any break-outs of Friday’s Range as well.

There are some Big Economic Events out this morning starting at 0830.ET .. be watching for them!
They will have a big effect on the Open and early Trading.

Metals and Energy Commodities are Down while the US-Dollar is Up right now.

Yesterday we got some weakness .. the pull-back we’ve been waiting for … now is the time to see how Strong the Markets are .. or not!

Also, don’t forget that this is Options Expiration week . . Friday is the end of November options.

AMC Commentary

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Guide to Swing Trading!

The Bounce Is Aging, But The Depression Is Young
By Bob Prechter

BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0710.ET
Far East Markets are Up some while Europe is mixed-Flat . . . the US Markets/Futures are Down Slightly.
QQQQ/SPY are currently Trading at 43.44 / 109.37
QQQQ Resistance is at 43.75, then 43.8x
QQQQ Support is at 43.17, then 42.90, then 42.6x

There are a few Economic Events out this morning starting at 0745.ET . . Retail Sales numbers followed by some Treasury Auctions and Fed Speakers . . . not much to affect price action once a Trend is established after the Open.

It’s not looking like there’s any follow through for the Open after yesterday’s Big run higher … good news for this Bear! . . . depending on the Retail Sales numbers, I am expecting a slight rise at the Open followed by some Down movement . . . watching for Signals at the start of an intra-day Trend that will tell us how Strong it might be. (how long it might last)

AMC Commentary

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NASDAQ Profits !!

How to Prepare for the Coming Crash and Preserve Your Wealth
By Susan Walker

BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0720.ET
Far East Markets are Up Big while European Markets are mixed around unchanged . . . US Markets/Futures are Up slightly.
QQQQ/SPY are currently Trading at 42.40 / 106.94
QQQQ Resistance is at 42.78, then 43.17, then 43.86
QQQQ Support is at 41.80-42.00, then 41.50, then 41.2x, then 40.9x, then 40.6x

There are Economic Events out throughout the day, but the Big one is out BMO this morning at 0830.ET . . so be careful! I will, and I highly recommend to, not be Trading today unless something outrageously Strong shows up. It will be a wild and unpredictable day … especially with the Plunge Protection Team (PPT) very active. Most people are Bullish right now .. another sign that the Top might be near .. just waiting for a trigger.

The DOW jumped 203.82 points yesterday, closing at 10,005.96. NYSE volume was lower on the rally at 86 percent of its 10 day average. Rallies are occurring on declining volume and declines are arriving on rising volume. That is a bearish formula and one we would expect to see around tops. Half of the trading days the past few weeks have seen moves above 100 points. Increased volatility, even large up days, is also something common around significant tops.
So, I am still Bearish .. even with a small Up-move today . . . but am really looking to start loading up on Down positions.  If we get a Strong Reversal Down Signal during the Open and it stalls after hitting Resistance, then I will probably start picking up QQQQ/SPY/MSFT Put Options in my Trading accounts .. as well as QID/SDS positions in my Retirement accounts . . otherwise I will just Relax and wait until next week.

AMC Commentary 

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the Ultimate Trading System!
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Gold: What’s REALLY Behind the Record Rise, Bull or Bubble?

BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0720.ET
World Markets are Down Big and US Markets/Futures are Down slightly.
QQQQ/SPY are currently Trading at 42.25 / 105.95
QQQQ Resistance is at 42.4x, then 42.70 – 42.90, then 43.15-43.30, then 43.70 – 43.80
QQQQ Support is at 42.20, then 41.85, then 41.7x, then 41.6x

There are Big Economic Events out this morning starting at 0700.ET and then 0830.ET . . pay attention to them and be careful!

I’ll be looking to Bank Profits on my Short Microsoft (MSFT) as well today .. like I did very Profitably last week. . . as always, I’ve used PUT options to accomplish my Down position (Shorting).

I see a weak Opening this morning, but always watch out, using our Model/System, for a Bounce . . . I am Bearish over the near-term, but the masses are still Bullish and can rally the markets quickly on dips if they see fit . . . and the Smart Money is all too happy to sell to them at slightly higher levels.

Don’t forget to check out my Long-Term Charts and Vote for me at the bottom of the page.

AMC Commentary

Now that was a nice day! . . . I’ve been calling for a Top during this entire recent consolidation .. look back at most of my Annotated Charts for the past two weeks. . . Anyway, now that we had a Big Down day, what’s next . . .

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Online Trading for Financial Freedom!

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Here are my thoughts on Trading this coming week . . . including lots of Annotated Charts as proofs:

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The Industrials fell 21.61 points Friday. The NASDAQ 100 fell 3.92 points Friday, closing at 1,662.49. The Russell 2000 fell 3.55 points Friday, closing at 580.20. The HUI Amex Gold Bugs Index fell 2.79 points Friday, closing at 394.74. November Gold rose to 1003.7. Silver fell to 16.22, while December Oil fell to 70.33. The Dollar fell 0.19 to 77.05. Bonds were flat at 122^09. The VIX rose 0.41 to 28.68.

The Labor Department reported Friday that Unemployment for September rose to 9.8 percent. One out of ten Americans who are seeking work, are out of work. If laid off full time workers settling for part-time work are included, the unemployment rate in the U.S. is now up to 17 percent. If we include discouraged workers who are no longer seeking employment (they are not included in the Labor Department’s unemployment figures), then the unemployment figures rise to 10.1 percent and 17.3 percent.

The problem is getting worse, and evolving into a crisis of Family Household income. Consumers account for 70 percent of all spending, of GDP. The Labor Department reported Friday that 263,000 more people lost jobs in September, non-farm payroll job losses, but actually the number was even worse than reported because the Labor Department reduced the actual number of job losses by “let’s pretend” jobs that they imagined in their deepest melatonin dreams were created, they think, by start-up businesses to the tune of 34,000. The actual number of non-farm jobs losses were 297,000 if you ignore this fantasy and get real. The U.S. needs to add 150,000 new jobs each month to simply accommodate population growth. So the short-fall from break-even in September was actually closer to half a million jobs. Even government jobs fell 53,000 in September.

At this moment, 36 million Americans are on Food Stamps. One out of every six jobs in the U.S. feeds off the Health Care Industry. One sixth of our Gross Domestic Product is spent on sickness, either prevention, detection, treatment, or insurance. Is this a formula for prosperity in any nation?

BMO Commentary

Go through the Morning Checklist to see how the Markets are currently doing and what Economic Events may affect the Markets today.

0707.ET
World and US Markets/Futures are Down somewhat .. about 0.6%.
QQQQ/SPY are currently Trading at 42.05 / 105.20
QQQQ Resistance is at 42.50, then 42.6x, then 43.0x – 43.20
QQQQ Support is at 41.90 – 42.0x, then 41.40 – 41.60, then 40.80 – 41.00

There are Big Economic Events out this morning starting early and continuing all morning . . so watch out!

Stocks are forming patterns that warn the Bear Market that started 2 years ago is about to unveil its next destructive move down . . . so,  I am still looking to Short QQQQ Rallies as opposed to Buying Dips .. especially for any Holding of longer than a few hours . . . I see a major Drop coming soon … sometime within the month of October. … Use last night’s Chart-3 for break-out guidance.

Yesterday’s Market Action:

Stocks ended mixed Wednesday, after a roller coaster day. The Industrials fell 133 points early, then recovered all the losses mid-day, before closing down 29.92 points. The day’s price action formed a classic Hammer Candlestick pattern, which looks like a cross or “t.”
The NASDAQ 100 rose 1.32 points Wednesday, closing at 1,718.99. The Russell 2000 fell 6.17 points Wednesday, closing at 604.28. The HUI Amex Gold Bugs Index rose 7.95 points Wednesday, closing at 418.65. October Gold rose back above 1,000, to 1,006.8. Silver rose to 16.65, while December Oil rose to 70.43. The Dollar fell 0.40 to 76.72. Bonds fell 8 ticks to 121^12. The VIX rose 0.42 to 25.61.

AMC Commentary

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Download Your Free Credit Crisis Survival Kit

Before it became the worst credit crisis since the Great Depression, the credit crisis used to be an arcane topic discussed only in financial publications. Now, it’s on every computer, television screen, and front page of every newspaper in the world.

It may have you worried about what you can do to get through it with your personal finances still intact. What can you do about it?

These are my Notes on the current state of QQQQ and a Plan for Trading on Monday . . .

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