DislikedIt really is, I mean I'm scalping. I feel like a guy who used to eat filets at Lugers having to eat fast food. Sure it's all beef, but goddamn.Ignored
This was funny!!!
wow!!!
u really made me smile!!!
iiivb
Walk the Talk from a fun loving discretionary trader 46 replies
You talk the talk I walk the talk 8 replies
DislikedIt really is, I mean I'm scalping. I feel like a guy who used to eat filets at Lugers having to eat fast food. Sure it's all beef, but goddamn.Ignored
DislikedIt really is, I mean I'm scalping. I feel like a guy who used to eat filets at Lugers having to eat fast food. Sure it's all beef, but goddamn.Ignored
DislikedFirst pics of BWR's ski weekend released...
http://community.planetjh.com/blogs/...hment/350.ashx
http://agoldenworld.files.wordpress....-yard-sale.jpg
http://www.cybersalt.org/cl_images/1...ospitalski.jpg
That's a shame.Ignored
DislikedThat's a good analogy. Kind of reminds me of "me".
But then again "I don't care anymore". As long as I get my daily fix (GJ 100+ Pips). Maybe I should looking at trading AJ along with the daily fix of 100+? what do you think? I'll do some analysis this weekend.Ignored
DislikedThats what I want to hear. More people pessimistic about the economy and housing in general. The more that believe things are bad, the closer we will get to an actual bottom. Of course things could always just languish for years too.Ignored
Disliked
I told that stupid skier not to follow me, he thought he could out ski a snowboarder, chump. I told him to go left, he ended up going right.
Happy Birthday Turtle sorry I'm lateIgnored
DislikedI agree, we need to just take our medicine and get it over with. This languishing scenario you're talking about just leads to boring trading ranges.Ignored
DislikedAJ is good for 100 pips daily as well, sometimes straightup sometimes up/down.
cesar,
From your mouth to god's ears we need a breakout. I'm positive that housing will give it to us. Talked to a friend of mine who's a developer, works in 3 states, mainly NY, NV and FL. He's not bullish at all on this "housing bottom" so we'll see.Ignored
DislikedBottom / no-bottom is 50/50 in the newswires. I just don't care. I'm keeping GJ longs on positive rollover but I'll reverse my position if the stock market (carry trades) break out to the downside.
If they break out to the upside I'm already in the bandwagon. That's what I'm on.Ignored
DislikedA way for me to be proven wrong is for the Dow to break the C point I marked in the triangle, so going long on the break of C (12575 points) and going short at the break of B (12064 points) seems to me a good way of making moneyIgnored
DislikedI agree on the bearish picture. Techis are likely holding the upside until good reasons to resume the uptrend.
I'm just not comfortable with the idea that the breakout will be to the downside. It's been already 6 months of the subprime mess and Dow 12k is not so low a level in the big picture.
For both sides, imo, there has to pop some strong reason either to boost bulls or bears and it feels like the worst is over.Ignored
DislikedI'd argue the opposite. We're in a bear market, so sell the rallies and thus going short around 12500-12545 is the better move with the trade being closed out with a sustained break over 12600.
The overall structure still remains bearish for me under 12800.
Disclaimer: I'm no EW expert.Ignored
DislikedI feel the same way, but still can make some money between 12575 and 12800Ignored
DislikedAgree with cesar, we need something really bad. I've been mulling this housing data and unless its something catastrophic, the market might just shrug it off in favor of clinging to the good news of the MBIA.Ignored
DislikedHi guys,
I know this is FX forum but I thought you guys would be interested since we spend all week making fun of the Dow
If you see there is no interest in this let me know and i'll stop posting. But so far here is my reviewed analysis of the DJI. Been reading all weekend "Applying Elliot Wave Theory Profitably" this is what I came with that justifies the pattern being made by the Dow Jones.
For those that don't know anything about Elliot Waves the basic is that the market moves in 5 wave cycles. 1, 3 and 5 are impulse waves and 2 and 4 are corrective waves. My understanding of the market is based on my wave count that puts us in the middle of Wave 4 which is correcting a bigger downtrend movement.
Now, about correction waves the author of the book tells us that there are 3 main paterns: ZigZag, Flat and Triangle. The triangle is the only corrective pattern where wave 4 high is allowed to penetrate wave 1 lows.
If my reading is correct this happened on the 2nd of January where the intraday high of 12785 exceeded the wave 1 lows of 12728. So this should tell us we are in a triangle. Triangles are a movement that are made in 5 waves each comprised of 3 sub-waves. I marked the what I think are the first 4 waves of this triangle and a possibility for the 5th and final wave.
If I am seeing everything clearly (and of course, I'm probably not) by the end of the week we should have reached point E in the triangle and start wave 5 which should take the Dow do somewhere close to 10500 points.
A way for me to be proven wrong is for the Dow to break the C point I marked in the triangle, so going long on the break of C (12575 points) and going short at the break of B (12064 points) seems to me a good way of making money... and of course, look at USD/JPY for possible market correlationIgnored
DislikedIf we get there, and that's a big IF with the data being released this week.
Anyone with estimates on the bottom of this bear market for the Dow?
My first number is ~10000 if the bear market ends this year, but if it breaks that and holds into 2009 the next support on the charts isn't until around 7500.
If we see Dow at 7500, we may see riots on the streets. I still think we'll turn around near 10000, so I'll start some mild accumulation there on any signs of capitulation. If we reach 7500, I'm loading the boat with max leverage and looking forward to an early retirement.Ignored