[Clayton233]

A glossary of the common jargon/lexicon/abbreviations etc

Note: To add a term please don't quote the previous post, instead simply do a "quick reply" including only the term (in bold) followed by a dash and the description.


PL - our fearless leader Pretzel Logic from his Hawaiian command post/bunker

EW - Elliot Wave
TA - Technical Analysis
TL - Trend Line
LD - Leading Diagonal
ED - Ending Diagonal
H&S, H/S or HnS - Abbreviations for Head and Shoulder Pattern
Impulsive, or "a 5 wave" - EW Motive moves that follow a 5 wave pattern that progresses the market in a given direction.
ABC, or "a 3 wave" - EW Corrective moves that follow a 3 wave pattern.


EOD - End Of Day
ROD - Rest Of Day

LOD - Low Of Day
HOD - High Of Day

ST - Short Term
IT - Intermediate Term
LT - Long term

RUT - Russell 2000 Index
TZA - popular triple short ETF of the RUT
TNA - popular triple long ETF of the RUT
ES - E-mini S&P Index Futures (usually ~4 points lower than $SPX)
ES/5, ES/15, ES/120 - ES 5, 15, and 120 minute charts respectively


80>>120 Rule -

If we hit plus 80 on the $INDU we will go to plus 120

If we hit 120 we go back to 80,

this next part has not been working lately

from plus 80 we go then back to 120 and finally to 140 up.
same for down moves

A Katzo! - a big red candle

WWWCI - Wrong Way Wanda Contrarian Indicator - A very strong signal whose name says it all...

"Blimbo Wave" - A term coined by Pretzel Logic that identifies a wave that is in limbo meaning it doesn't really provide any new clues into the market's intentions as it just retraces some portion of the previous wave. Here is the origin of the term in the (sarcastic) words of our fearless leader on May 1st:

Well, if my ST count's right, then the final 5th wave completed of either wave (1) or wave C... although today may have instead seen the completion of Wave "Blimbo," which is a new wave I just invented as part of my upcoming PretzelWave Postulate Hypothesis Theory Thesis, which is my own take on EWT, to be marketed worldwide starting next Thursday between 4 and 5 o'clock.

Blimbo waves are characterized by an extremely high degree of grumbling, which is exactly what we saw today. It also retraced, almost to the *penny*, exactly the amount expected in a Wave Blimbo (Wave Blimbo frequently retraces between 1% and 99.9% of the previous wave -- BOOM! Dead-on hit!), which lends a lot of credence to that view. Probably the clincher though, is that Blimbo Waves are date-specific, and can be expected to occur only on weekdays. I don't think it's coincidental that today happens to be Tuesday. The other details of what to look for in Blimbo Waves will all be revealed in my upcoming book:

The PretzelWave Postulate Hypothesis Theory Thesis Principle Idea Thing

which is scheduled to hit bookshelves everywhere sometime before the sun turns into a red giant. Anyway, it looks like wave 5 of Blimbo finished up at 1415 today.

troll - A bitter, angry and emotional person who floods/spams the forum with obscenities, insults or warrantless attacks


Notable PL'isms -

• "1415 is prolly the high" - ignore the superfluous financial journalism stuff that come after such an announcement and short the market.
  
• "I am getting short and going to bed" - seriously ignore everything else and sell the hell out of the market.
  
• "Trade above/below X level would invalidate the count" - designates where the market should be going, if major trend is down sell at that point and vice versa.
  
• Trade Triggers - posted in PL charts are triggers that, when materially broken are as close to a sure thing you can find in this business. Use them to trade in the direction of the trigger and observe the target.
  
• Blue Box Protocol - despite funny commentary from No Damn Viagra - these areas on a chart are highly accurate target points that can and should be used to trade from only after understanding and confirming the trend that goes with the preceding wave that these boxes are targeting.
  

And the most important 'ism of all:
"NOT TRADING ADVICE!" - take personal responsibility and accountability for your trading, do your OWN analysis/research and confirmations. You care the most about your money, so TRUST NO-ONE when it comes to your financial future!