Kenny's Elliott Waves Blog @ Traders Day Trading - Latest Comments

Re: David Banister: Is it safe to start buying Gold Stocks yet?

David Fraser — Wed, 18 Apr 2012 14:34:44 -0000

Firstly, in spite of what Dave Banister at ATP churns out, this is his "CORE" position performance year todate:

He holds a total of 6 stocks which between them have lost an average of 73.9% over the last 12 months (not including the 100% he lost on SBAY in Q2 2011)

DAVE’s CORE holdings year todate.

GAS
cn - 27%

SA
cn - 50.6%

BNG
cn - 30.2%

EW cn - 20%

KLH cn - 33.7% (Dave wrote Feb 22nd: “this is my #2
personal position”

TIC cn -26.4%

Now understand, this terrible performance is on top of his disastrous -300% shorting of the S&P500 at the end of December 11 when he forecast this index would plunge below 1200. Plus, he lost big money on: SSRI, ERY, TZA, TVIX, P, RIMM, ZNGA, CROX, SODA, MEMS, CVV, NUGT, CEN cn.

He only buys incredibly high beta stocks that are thinly traded or near fraudulent Chinese IPO’s. Yet still, he’s lost a lot of money in a rising market! His last few trades were: ZNGA Mar 21 @ $13.30. Now 11.30 (-15.%). MEMS Mar 26 @ $4.80. Now -$3.82 (-20.2%). MITK Apr 3 @ $8.30. Now $6.60 (-20.48%).

He never declares the exact amount of potential max positions his portfolio can hold at any one time (it's almost as though he doesn't understand that a partner can't invest more than 100% of the money he has (excluding leverage). He just keeps on saying BUY NUGT
@ $14 today (Apr 18th) now $13.22 and the seesion isn't even over yet!

What we can say is that during the period Jan-March he held his 6 core stocks and added a max 3 MRM trades (all loss making). Then 2 weeks ago he capitulated and just kept on buying every ultra-high risk Chinese company he could find (P, DANG, ZNGA). He did
this when the S&P500 broke 1414 cash.

He now is long approx 10 positions on top of the 6 core. So just dividing 100% by 16 gives a avg holding size of 6.25%. Now we know 37% has fallen -32% this year alone. Plus, during the best start a year in decades, he only had 18% extra invested- all of which
except 1 trade was loss-making. So bottom-line, year todate this guy has destroyed around 15% against a market for high beat stocks that is UP 22%.

Take a look at 2 of his recent MRM trades: CEN .cn and MEMS. If you can, call up a chart of each and just look where he bought these shares:

MEMS on March 26th at a price of $4.80 it is now around $3.80.

Cen.cn on March 1st at a price of $20.3. it is now $16.

More importantly, look at his timing on the charts...

If you care about your money, stay clear of this chump. On the best quarter for decades, he’s down heavily in both “core” and trading with no strategy to get his clients out of trouble.

Re: S&P 500 Elliott Wave Analysis 21 Mar 2012

Kenny — Thu, 05 Apr 2012 15:25:25 -0000

2 x 'a' in price

a) 1267.06 - 1158.66 = 108.4 x 2 = 216.8
c) 1202.37 + 216.8 = 1419.17

The actual high at the time of posting this chart was 1414.....now up to 1422.38

Re: S&P 500 Elliott Wave Analysis 21 Mar 2012

mrhagerty — Thu, 05 Apr 2012 14:08:48 -0000

So help me understand this better. When you say that 'c' is 2x 'a', does this apply to the vertical distance to the 1418 line? Because the sheer length of the 'c' leg in clearly longer than 2x 'a'.

Mike

Re: S&P 500 Elliott Wave Analysis 21 Mar 2012

Kenny — Wed, 04 Apr 2012 09:44:43 -0000

Hi Mike. As always, there are a number of possible wave counts and you can see more of my charts in the forums. It will probably make a lot more sense once you see the larger counts.'c' is currently 2 x 'a' so it is well within the margins. http://financial-trader-online...

Re: S&P 500 Elliott Wave Analysis 21 Mar 2012

mrhagerty — Tue, 03 Apr 2012 19:05:13 -0000

I'm new to EW, but I noticed in the above wave count alternatives where waves a, b begin . . this would make the 'a' wave a corrective in a down phase (bec it ascends on the 'a'). But wouldn't an inverse corrective have to follow a down phase? And the charting to the left of your chart window is an impulse up.

That does follow what appears to be a double bottom, but I'm having trouble seeing the wave between Nov and mid Dec (up) other than an impulse wave. Also, if a and b are possibles for a corrective, this would make the adjoining 'c' wave incredibly long compared to normal expectations of conforming to the scale of the corrective legs.

What are your thoughts, Kenny?

Mike

Re: City Index £150 Trading Credit

Kenny — Sun, 31 Jul 2011 11:26:46 -0000

Yes, it is advertised as a 'Trading Credit' .....trading funds are required to be held in the account to cover the margin liabilities on a spread bet.

I think they have designed it this way to stop folks simply signing up to claim a £150 bonus and walking away.

It is still a great offer as the extra Trading Credit allows you to deposit £150 less capital than would otherwise be needed to achieve the same size of trades.

Re: City Index £150 Trading Credit

Matt — Sat, 30 Jul 2011 08:37:39 -0000

As far as I understood from T&C you can not withdraw this £150 bonus

Re: SP500 Technical Analysis Update

Kenny — Tue, 26 Jul 2011 07:10:01 -0000

Hi The Simple Trader, sorry I did not see your comment earlier.

Yes I agree, technical analysis is the only way to go. Everything we need to know is in the charts.

Please do come and join the discussions in our new forums.....

http://financial-trader-online...

Re: SP500 Technical Analysis Update

The Simple Trader — Mon, 25 Jul 2011 08:00:15 -0000

The fact that the US government cannot agree on how to resolve their impending default will continue to lead markets lower until that is resolved. Could this be the catalyst for declines (head and shoulders)? Maybe. I'm a technical analyst which means I'll always let the market decide future prices and follow where it goes...........

Re: SP500 Elliott Wave Analysis

Kenny — Thu, 30 Jun 2011 15:15:44 -0000

Hi Jerry, yes it is a server problem I think.....he hasn't barred you mate :-)

Please do visit us in my new forum pages..... http://financial-trader-online...

Re: SP500 Elliott Wave Analysis

Jerryo1314 — Thu, 30 Jun 2011 15:04:12 -0000

Speaking of over laps! If we can turn down into close can you forgive the over lap?
J

Re: SP500 Elliott Wave Analysis

Jerryo1314 — Thu, 30 Jun 2011 15:01:35 -0000

Hi Kenny,
Is Khalsa server down ?

I get account suspended message.
Jerry O

Re: Traders Day Trading Forum - Stock Market Trading Forums

Kenny — Mon, 20 Jun 2011 14:29:56 -0000

Hi folks,

This is just a quick note to let you all know that I have
now launched a brand new forums section.

I have had a number
of requests, and as part of the ongoing development of the ‘Traders Day Trading’
site, I am very pleased to announce the creation of a new Forums section, the ‘Financial
Trader Online’

The Financial Trader Online is the new much improved Traders
Day Trading forums where users also have the facility to create their own group
forum, get their articles published, or even create their own blog pages....all
within the Traders Day Trading website.

Forums Link http://financial-trader-online...
Blogs Link http://financial-trader-online...
Articles Link http://financial-trader-online...

I will explain more at a later date. Meanwhile, I would
appreciate it if you could please take a few moments to register and create
your own profile page so that you can become part of our new community today.

As this is a brand new feature, we will no doubt come across
a few issues that need to be resolved so please do not hesitate to use the
contact form on the website, or contact me by email if you experience any problems
or come across any issues that are still outstanding.

Re: Khalsas Free Friday 17/06/2011

Jerryo1314 — Fri, 17 Jun 2011 16:26:12 -0000

Thanks to you to Kenny..
K must have had a little more than pizza, since he never returned. lol

Re: Khalsas Free Friday 17/06/2011

Kenny — Fri, 17 Jun 2011 16:04:02 -0000

ggg...12 hours ago since I first said 1271.31 was the big deal for the close today..... ;-)

http://blog.tradersdaytrading....

they scraped it in by the narrowest of margins.....still makes no difference really....but good fun anyway :-)

Re: Khalsas Free Friday 17/06/2011

Kenny — Fri, 17 Jun 2011 15:35:04 -0000

BTW......Thank you very much once again to K for the analysis today.....it is appreciated as always.

Folks, please remember that khalsa has very special one off 60% Discount offer for Kennys Elliott Waves Blog visitors!

K is offering Kennys Elliott Waves Blog visitors a special discount of 60% to his "Full Works" subscription service.

http://www.khalsaspad.com/

Take advantage of K's regular offer of one weeks Free trial, and then gain full access to all of Khalsas subscription services for only £40 for your first months subscription.

This offer is exclusive to Kennys Elliott waves Blog visitors, to claim it all you need to do is register over at http://www.khalsaspad.com/ and quote Kennys Elliott Waves Blog to claim your 60% exclusive discount .

Re: Khalsas Free Friday 17/06/2011

Kenny — Fri, 17 Jun 2011 15:34:20 -0000

Nice bit of intraday volatility but it is still fighting with 1271 for the close....

Re: Khalsas Free Friday 17/06/2011

Kenny — Fri, 17 Jun 2011 15:20:29 -0000

Fwiw..Khalsas Free Friday will have a new format next week so stay tuned.....

Registered users to Kennys Elliott Waves Blog will receive further info by mail in the next few days.

Re: Khalsas Free Friday 17/06/2011

Kenny — Fri, 17 Jun 2011 15:14:26 -0000

The RSS feed for each disqus comments thread is located just below the comments box

Re: Khalsas Free Friday 17/06/2011

Kenny — Fri, 17 Jun 2011 15:13:23 -0000

Yes mate, the page needs to be refreshed......alternatively there are also various RSS feeds that can be used.

Re: Khalsas Free Friday 17/06/2011

Kenny — Fri, 17 Jun 2011 15:10:47 -0000

LOL....no need to get worried...I'm not saying we are going to 1706

...It was the file number for the chart but the URL did not work so I added it to the blogpost

Re: Khalsas Free Friday 17/06/2011

hogster — Fri, 17 Jun 2011 15:00:14 -0000

1706?

Re: Khalsas Free Friday 17/06/2011

Jerryo1314 — Fri, 17 Jun 2011 14:53:52 -0000

I think the email option is the answer. My internet is too slow to understand what is going on.
Thanks I'' tell her.
J

Re: Khalsas Free Friday 17/06/2011

Jerryo1314 — Fri, 17 Jun 2011 14:39:15 -0000

Do you keep refreshing this site to see latest posts?
Hope that is clearer

Re: Khalsas Free Friday 17/06/2011

Kenny — Fri, 17 Jun 2011 14:20:12 -0000

Added a new grey circle to the the S&P500 chart since they have been working out quite well.

I have posted that chart at the bottom of K's analysis in the blog post just above.