[Grey1]

Originally Posted by BrianNC »

Was there any particular news that caused that sudden drop?

Brian,, That was a technical drop and not a news related,, The technical reason is known as multiple exhaustion and the warning came yesterday with 3 major companies beating and still market exhausting ,,, This is the theory in advanced TA

1) Trend continues till all major time frames get OB/OS ( weekly, daily ,monthly),, This is called cycle analysis.
2) Exhaustion occurs when news has little effect on trend( yesterday 3 major companies beat and market sold off from high ). This is not a reversal
3) Second exhaustion starts with a strong rally next day or with in 5 days,,
4) Market corrects and retraces back at least 10%

At least this is the theory ,,,

Are we going to retrace 10% ?

PRO RALLY
a) we have santa clause rally ahead of us
b) 70% of comapies are beating (EBAY MISSED tonight )
c) no sign of rate increase this side of the year

PRO RETRACMENT
a) techncial exhaustion
b) Roubini warning on double dip recession and 11% unemployment into early JAN
c) stocks ahead of market ,,

Conclusion ,,, I would intra day trade to be on the safe side and no more swing till we have further evidence to decide,, This means despite the fact that stocks such as CAT,AAPL,,YHOO,SNDK ,INTEL .GOOG are awesome long swing but because of the uncertainty surrounding the market the risk can be un justified. Also historically OCT is correction month so lets put OCT behnid and see what happens

Hope this helps

Grey1

[Grey1]

Originally Posted by Kiwi »

Actually. In the terms you set it is a totally relevant reply.

And if you really don't want to hijack the thread you will accept that Brownsfan and I disagree with you and we think that we know enough to be right whether you think we are or not (note that shouting is impolite).

If you really wish to debate the topic feel free to start another thread explaining why you (I was so tempted to capitalize that) are right (and again). Then someone might feel the desire to refute that ... or not.

Thank you for your reply. I understand you two gentlemen disagree but that is fine ..I am also very pleased that you know enough to be right. Good for you ,,

Grey1

[BrianNC]

Originally Posted by Grey1 »

Thank you for your reply. I understand you two gentlemen disagree but that is fine ..I am also very pleased that you know enough to be right. Good for you ,,

Grey1

Why don't you start a new thread on exactly what you are talking about? I would like to see what you are saying as compared to the others. Post a link here though. I don't get out of this thread too much so I probably wouldn't see it.

[hunnybunny]

Subterfuge, sorry you had a bad day

Originally Posted by bathrobe »

do you trade European futures only? Or do you also you look at Asian futures since you are in Singapore?

Chris

It makes sense for me to look at the Asian stuff as they're in my timezone but they're not as widely-followed (?) ... and as a novice, i wanted to learn how to trade, so i thought i would look at what you good folks trade alongside you, as that would be the best way to learn to see trades through your eyes in as real-time a fashion as possible.

I hope to be smart enough to pick up some of the the wisdom so abundant at TL Your trade blotter's impressive, Chris.

Grey1, it's always nice to have another person on the thread and another point of view ... but i guess you came off sounding a little .. unfriendly earlier? Congratulations on your nice gains.

It would be super if everyone here got along famously because you're a brilliant lot, obviously ... and i look forward to reading all your contributions

I have a Brent Crude chart on a trade i took and have a few questions i was hoping some of you would be kind enough to answer .. and was wondering whether to post that here or at Thales's "reading charts in real time" thread. I hope it's not too much of an imposition

Thanks very much, all, as always!

[hunnybunny]

Oh, and Brownsfan, clearly i wasn't watching the Russell as closely as i thought Thanks for pointing out that its range was actually wider than the other indices.

[brownsfan019]

Originally Posted by hunnybunny »

Oh, and Brownsfan, clearly i wasn't watching the Russell as closely as i thought Thanks for pointing out that its range was actually wider than the other indices.

In terms of $, it is wider. And for me, that's all that I care about - $. And going the path of least resistance.

[Grey1]

Round 1

Grey1 wins $430
I might lose the next 10 rounds though so far so good as the man said falling from a high rise building

Grey1

[Grey1]

salsa time hence this is my final P/L.. Deposit for a cabbage
My code had problem eliminating the noise to day hence the loss...
Peak was around $800 and loss around $300..

Net profit + $142

No trading 2morrow hence no posting my p/l