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Wall Street close watch

  • #61
  • Jan 21, 2008 12:52pm Jan 21, 2008 12:52pm
Quoting cesarnc
We saw
yeah, and in a big way

i can feel the tension in the air, something major is brewing!
Relax and be happy.
  • #62
  • Jan 21, 2008 1:12pm Jan 21, 2008 1:12pm
Quoting merlin
yeah, and in a big way

i can feel the tension in the air, something major is brewing!
Let's see how the US come tomorrow. Dow Futures is -500 points (-4.25%) pointing to 11,600
  • #63
  • Jan 21, 2008 1:19pm Jan 21, 2008 1:19pm
Quoting merlin
im thinking that tomorrow being a holiday will have some sort of consequence. if we see selloffs around the world tonight, and NY isnt open for trading, that could be a recipe for disaster!
So far you're spot on! Early last week I moved my long term mutual funds back into cash. Glad I did.
  • #64
  • Jan 21, 2008 1:21pm Jan 21, 2008 1:21pm
Check this guy out.. Scroll and click on video under "Folks this is what happens when you do not have a plan... Warning the language in this video is strong... Please don't let this happen to you"... http://swingtradingtheforex.blogspot...1_archive.html
Check Mate GAME OVER
  • #65
  • Jan 21, 2008 1:37pm Jan 21, 2008 1:37pm
Quoting bunton
Check this guy out.. Scroll and click on video under "Folks this is what happens when you do not have a plan... Warning the language in this video is strong... Please don't let this happen to you"... http://swingtradingtheforex.blogspot...1_archive.html
That was grand! Thanks for validating my last post.
  • #66
  • Jan 21, 2008 1:44pm Jan 21, 2008 1:44pm
This is what causes some to jump off bridges.. Not funny but please trade with a plan and get out when it goes wrong. I feel sorry for the guy and his 30K loss, but the market cares less about what it takes and what it gives.
Check Mate GAME OVER
  • #67
  • Jan 21, 2008 2:14pm Jan 21, 2008 2:14pm
Quoting bunton
This is what causes some to jump off bridges.. Not funny but please trade with a plan and get out when it goes wrong. I feel sorry for the guy and his 30K loss, but the market cares less about what it takes and what it gives.
The internet has given us tremendous opportunity, along with making it easy to max out charge cards and fritter away retirements. Getting our capital into the market is easier than ever and you don't even need much. But actually trading it is the same as it always was--very risky and potentially devastating.

We're used to being protected at many different levels: insurance, retirement plans, seatbelt laws. The "It can't happen to me," stance is a poor attitude to take in this arena. Whoever trades without a plan and thinks "It can't happen to me," is exactly who it will happen to, and usually very quickly.

Yes, in the real world, this does make people jump off bridges. How do you tell your wife you just blew your life savings? The video is a powerful dark comedy. Excellent! I hope everyone watches it.

Trade sensibly all.
Bill
  • #68
  • Jan 22, 2008 3:36am Jan 22, 2008 3:36am
Quote
``It's possible that with the amount of stimulus we've seen coming from the Fed, and the talk of a stimulus package, that this ends up being a fly-by'' slowdown in growth, said Jonathan Lewis, a founding principal at Samson Capital Advisors LLC in New York, which manages $3.8 billion.
---
Two-year Treasury yields of less than 2.5 percent indicate government securities are peaking after seven months of gains, said Gary Pollack, who helps oversee $12 billion as head of fixed-income trading at Deutsche Bank AG's Private Wealth Management unit in New York.
``That fully prices in a recession,'' he said. ``It would be a very mild and short recession if one does occur.''
From http://www.bloomberg.com/apps/news?p...nSA&refer=home




PHEW, huh! ;P
That was a short recession! Over before it began!

Or maybe he meant crash landing?


I wonder how much these people get paid to both say and report this ;p

Opinions anyone? (I am b-o-r-e-d and this was just too great in wording not to post)

I think they forgot to say that everything is contained, too
Trust price. Know yourself.
  • #69
  • Jan 22, 2008 3:45am Jan 22, 2008 3:45am
Quoting bunton
Check this guy out.. Scroll and click on video under "Folks this is what happens when you do not have a plan... Warning the language in this video is strong... Please don't let this happen to you"... http://swingtradingtheforex.blogspot...1_archive.html
I still can't believe some people not only trade without stop losses, but also advocate and encourage it as well.
(People that know how to hedge so that they can counter-trade with profit are excluded from this statement)

Same goes for money management. How can you lose 100% if your MM forbids you to risk more than 5%?

Really, a simple ruleset can save you so much pain..and more than just 6 minutes worth.

Scariest part for me was having a major deja vue seeing the guy's behavior...just that it definitely wasn't being upset about 100% loss..but every % is a painful % initially

Scary, scary...well, at least it shows that no amount is asking too much for education - if it costs you $5000 to learn how to prevent this kind of $30k / 100% loss, then it's still $25k saved, isn't it
Trust price. Know yourself.
  • #70
  • Jan 22, 2008 7:04am Jan 22, 2008 7:04am
Today is the day.

Question is whether or not carry trades have it already priced in. I'm sidelined.
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  • #71
  • Jan 22, 2008 7:29am Jan 22, 2008 7:29am
.75 emergency cut intervention, nuclear holocaust on carry trades and exotics, gold, majors / USD...

300 pip futures spike, half of it faded so far...question is how the dust will settle..
Trust price. Know yourself.
  • #72
  • Jan 22, 2008 7:51am Jan 22, 2008 7:51am
..and futures are red again.

Well well. Today will be one heck of a mess
Trust price. Know yourself.
  • #73
  • Jan 22, 2008 8:58am Jan 22, 2008 8:58am
wow these are exciting times to be a trader!! the panic snowball is now out of control, even bernanke cant stop it with a 75bp cut

we are now getting into the territory where the people who bought stocks in 2006 are sitting near breakeven or at a loss. they too should be adding to the seller snowball.

i live for this stuff!!!!!!!!! :
Relax and be happy.
  • #74
  • Jan 22, 2008 9:06am Jan 22, 2008 9:06am
Quoting merlin
wow these are exciting times to be a trader!! the panic snowball is now out of control, even bernanke cant stop it with a 75bp cut

we are now getting into the territory where the people who bought stocks in 2006 are sitting near breakeven or at a loss. they too should be adding to the seller snowball.

i live for this stuff!!!!!!!!! :
Well, at least this Fed cut factor is now out of the woods. It's now up to the markets...
  • #75
  • Jan 22, 2008 9:09am Jan 22, 2008 9:09am
Quoting cesarnc
Well, at least this Fed cut factor is now out of the woods.
ok pollyanna LOL
Relax and be happy.
  • #76
  • Jan 22, 2008 9:26am Jan 22, 2008 9:26am
This is how I see S&P 500 support levels:
Attached Image (click to enlarge)
Click to Enlarge Name: SPXmonthly.PNG Size: 34 KB
  • #77
  • Jan 22, 2008 9:54am Jan 22, 2008 9:54am
...what a day...
its just money
  • #78
  • Jan 22, 2008 10:05am Jan 22, 2008 10:05am
Headlines with Dow -140 is "Markets begin to recover"

-140 slump is a rally

  • #79
  • Jan 22, 2008 10:42am Jan 22, 2008 10:42am
Quoting SeekingLight
I've taken this opportunity to demo-sell DJI futures at 12.000 just to see whether the chart still works regardless of the cut

Like I said, I want to see today's close...

Needing to cut this much is bad enough; cutting this much and having 0 effect will annihilate confidence completely.

Wonder how the next 4 weeks go.
Isn't that kind of like looking back at the past and saying I would have bought here and sold here. If money is not on the line it is always a lot easier to place a trade. The object is to make it easy to trade when money is on the line.
  • #80
  • Jan 22, 2008 2:09pm Jan 22, 2008 2:09pm
Next move from Fed
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