Or options expiration day, I would love this long.
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- #3,646
- Sep 20, 2008 5:31am Sep 20, 2008 5:31am
- Joined Apr 2007 | Status: Trader | 1,522 Posts
Lumesh - this is what I was talking about in my earlier post by the way - hope it helps
http://www.actionforex.com/action-in...2008091960819/
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thanks for the link BillyRay, i was looking for something like that. I was wondering what time did the Paulson announce his actions because on FF the announcment time was way later than the actual move happened...
it is very important to keep up with the news all the time, otherwise there were technically couple of levels to go short but most of those levels were rejected this time.
If i'm allowed to ask some more
how do you determine the bias using COT? i was interested in that a while a ago when reading a thread here on FF that one person made his decisions based on COT with amazing results (don't know how true was that)...the thread is here if you want to check it out:http://www.forexfactory.com/showthread.php?t=56670
He uses extreme levels in COT to predict reversals in price...
take care,
lumesh
- #3,648
- Sep 21, 2008 10:41pm Sep 21, 2008 10:41pm
- Joined Apr 2006 | Status: Trader | 1,459 Posts
thanks for the link BillyRay, i was looking for something like that. I was wondering what time did the Paulson announce his actions because on FF the announcment time was way later than the actual move happened...
it is very important to keep up with the news all the time, otherwise there were technically couple of levels to go short but most of those levels were rejected this time.
If i'm allowed to ask some more
http://www.forexfactory.com/showthread.php?t=56670
He uses extreme levels in COT to predict reversals in price...
take care,
lumesh
The equity markets went nuts after the short selling ban on financials - we were watching overnight CME S&P futures and the exchange actually shut down trading until the open when they hit their limit of 5%. As a result of all this buying you saw all risk-related pairs (carry pairs) basically go through the roof, taking the root pairs right along with them. At the same time we were seeing huge swings in crude, just adding to the boiling pot.
Paulson's announcement was really made the night before, and his press conference was more or less an affirmation of what was discussed the previous night, with people expecting a little more color, which actually never really came to the degree some were expecting.
In terms of the COT data, its lagging data from the week before, and extremes can definitely help determine reversals, though I dont find them incredibly accurate. Ive seen that thread you pointed at and call me a skeptic but if it seems too good to be true, well....I dunno; I havent read it in entirety but from what I have I would stay defensive. Here are some links to free cot charts:
http://www.freecotcharts.com/charts/AD.htm
http://www.timingcharts.com/
hope this helps...
