dow down 300. Eur/usd down a little bit...Risk aversion doesn't seem to be as rampant as past weeks. Risk appetite seems to be returning. I still think however, that volatility should return soon and the breakout of this daily channel will not be right away if it is to the upside.
- #49,104
- Dec 9, 2008 12:58pm Dec 9, 2008 12:58pm
- | Joined Nov 2007 | Status: Trader | 2,903 Posts
Anyway good luck people...im going to cook some dinner and will be back tomorrow to either be up, or down... 
- #49,106
- Dec 9, 2008 1:12pm Dec 9, 2008 1:12pm
- Joined Aug 2007 | Status: TARFU... | 7,015 Posts
FUBAR...
- #49,107
- Dec 9, 2008 1:14pm Dec 9, 2008 1:14pm
- Joined Oct 2008 | Status: sideline is a position | 105,202 Posts
those who can, do. those who cant, talk about those who can
- #49,110
- Dec 9, 2008 1:26pm Dec 9, 2008 1:26pm
- | Joined Jul 2008 | Status: Trader | 1,722 Posts
saudis, cheves, iran... crying they cant survive on 40 $ oil.. good.. lets get something else to put in our tank.ans c if they can survive on 25$ oil. let them drink their oil and eat sand...save trillions protecting them and give me a 100 inch plasma flat screen...with the money
AK4X will love it of course because it shows lots of pipelines.
Up or down, gimme a ticket
- #49,111
- Dec 9, 2008 1:28pm Dec 9, 2008 1:28pm
- Joined Apr 2007 | Status: Trader | 2,303 Posts
On August forth.. the day before the EUR started moving down HARD..
DRT was noted saying..
heh.. I've no doubt made bad calls myself when i do pick a direction.. I just thought this one was pretty good heh.. on a Epic Burn kinda level.. heh..
Very reliable indeed heh (sorry for being an ass on this nothing personal.. just ran accross it and thought i would share.. a smile to the end of my trading day..)
But I can tell you that when Euro start to Drop I said " I SEE A HUGE DROP COMING" something like this and I was crucified by some guys
At the time I was not follow my New Trading style.
- #49,113
- Dec 9, 2008 1:38pm Dec 9, 2008 1:38pm
- Joined Aug 2008 | Status: Self-proclaimed psychologist | 3,179 Posts
i think its worth taking a good look at this massive downtrend on the daily charts yet again. note that i use ibfx so your daily candlesticks may open and close differently
since the great fall from 1.6 began we pretty much had a straight line down with few periods of consolidation. this last one month period has been by far the largest. each day we inch closer to that upper wall of the downtrend which in turn creates even more confusion about where we are headed next. todays pa briefly broke to the upside of the current one month old triangle (which could be interpreted as a flag on the daily scale) which suggests we may tap that upper wall any day now. if such an action does take place the most probable target is 1.3300 as that was previous support before we broke through it and became strong resistance on the attempt to break back up. Regardless, if pa continues moving at the rate it has in the last month or so..it could be anywhere from 1 day to 33 days to reach that upper wall (matching the opinion of many of not seeying any strong movement until the middle of january). As fundamentals are a strong issue every day (todays rise of the euro i still cannot explain) it is imperative to hold no bias or adjust it to how pa develops until we either break that massive upper wall or bounce off it or we make a new low. as always...scalping is king for now as a clear direction has not revealed itself. On that note..im off for now..good pippin all...if you play while the market is dead for the next 3-4 hours.
since the great fall from 1.6 began we pretty much had a straight line down with few periods of consolidation. this last one month period has been by far the largest. each day we inch closer to that upper wall of the downtrend which in turn creates even more confusion about where we are headed next. todays pa briefly broke to the upside of the current one month old triangle (which could be interpreted as a flag on the daily scale) which suggests we may tap that upper wall any day now. if such an action does take place the most probable target is 1.3300 as that was previous support before we broke through it and became strong resistance on the attempt to break back up. Regardless, if pa continues moving at the rate it has in the last month or so..it could be anywhere from 1 day to 33 days to reach that upper wall (matching the opinion of many of not seeying any strong movement until the middle of january). As fundamentals are a strong issue every day (todays rise of the euro i still cannot explain) it is imperative to hold no bias or adjust it to how pa develops until we either break that massive upper wall or bounce off it or we make a new low. as always...scalping is king for now as a clear direction has not revealed itself. On that note..im off for now..good pippin all...if you play while the market is dead for the next 3-4 hours.
Different opinions highly valued, ignorant to slander.
- #49,114
- Dec 9, 2008 2:42pm Dec 9, 2008 2:42pm
- Joined Oct 2008 | Status: sideline is a position | 105,202 Posts
There was an excellent article on CBS's "60 Minutes" on Sunday. I had recorded it and just watched this afternoon. Word is the Saudis want oil to "stabilize" at $75/barrel. Anyone can probably still view this decent article at http://www.cbs.com .
AK4X will love it of course because it shows lots of pipelines.
those who can, do. those who cant, talk about those who can
- #49,116
- Dec 9, 2008 3:42pm Dec 9, 2008 3:42pm
- Joined Aug 2007 | Status: TARFU... | 7,015 Posts
FUBAR...
- #49,118
- Dec 9, 2008 4:20pm Dec 9, 2008 4:20pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
lol
What is "near" ?
- #49,120
- Dec 9, 2008 4:33pm Dec 9, 2008 4:33pm
- Joined Aug 2007 | Status: TARFU... | 7,015 Posts
FUBAR...