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  • #49,261
  • Dec 10, 2008 9:54am Dec 10, 2008 9:54am
Quoting mikkom
The drop was mostly because of oil. It's very interesting that reserves were much smaller than expected and we still got this very big drop [in oil prices].
I know.. I know
The best thing that can happen to you is to find out where you're wrong.
  • #49,262
  • Dec 10, 2008 9:56am Dec 10, 2008 9:56am
A break of H4 support at 951 would target sub 1.29 and add more weight to yesterday`s candle pattern.
  • #49,263
  • Dec 10, 2008 9:59am Dec 10, 2008 9:59am
Quoting knuckledrag
Aaaa OK like aaaa sure
..... is just watching TV.
  • #49,264
  • Dec 10, 2008 10:03am Dec 10, 2008 10:03am
Still long, just a retrace.
Look how it bounced perfectly off the 61% fib
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  • #49,265
  • Dec 10, 2008 10:05am Dec 10, 2008 10:05am
I'm going to shut down for now - call it a day perhaps. Good luck traders!
  • #49,266
  • Dec 10, 2008 10:11am Dec 10, 2008 10:11am
Quoting TIckerShuffl
I'm going to shut down for now - call it a day perhaps. Good luck traders!
this market is screwed.
  • #49,267
  • Dec 10, 2008 10:13am Dec 10, 2008 10:13am
Quoting andys0506
Still long, just a retrace.
Look how it bounced perfectly off the 61% fib
I agree andy, time isn't up for this to turn around, I gotta admit I thought that was an impressive retracement.
  • #49,268
  • Dec 10, 2008 10:15am Dec 10, 2008 10:15am

for those who have a strong heart ....


if we return to 2986...


short 2986 with initial financial stop at 3045


1. target : 2956(for half position)
if hit 2956 then set stop at entrypoint for the 2. half
2. Target let it run for a while

The best thing that can happen to you is to find out where you're wrong.
  • #49,269
  • Dec 10, 2008 10:17am Dec 10, 2008 10:17am
12:15ish New york time is when this puppy should top, unless we see extensions. is that what you get andy?
  • #49,270
  • Dec 10, 2008 10:18am Dec 10, 2008 10:18am
There is still one very important release coming out today (although it's marked only mid impact on front page), us budget balance.

I personally think that predicted -176B is too little but we'll see.. This will be a very high impact news release if the deficit growth rate gets bigger than previous month.
  • #49,271
  • Dec 10, 2008 10:25am Dec 10, 2008 10:25am
Quoting Hissst
12:15ish New york time is when this puppy should top, unless we see extensions. is that what you get andy?
The 138 extension of yesterdays move is at 3078 which would take us to a daily range of 175 pips which sounds about average

Why is 12:15 significant?
  • #49,272
  • Dec 10, 2008 10:28am Dec 10, 2008 10:28am
They must free some of the steam from time to time!
  • #49,273
  • Dec 10, 2008 10:52am Dec 10, 2008 10:52am
Seems like volumes are evaporating. Need to wait until US budget is brought to shape...
  • #49,274
  • Dec 10, 2008 10:53am Dec 10, 2008 10:53am
Quoting andys0506
The 138 extension of yesterdays move is at 3078 which would take us to a daily range of 175 pips which sounds about average

Why is 12:15 significant?
That's what I get with the phimatrix and wave counting.

I get a solid target at 3077, It's gotta move to get there in my time frame though, we'll see what this crazy market gives me, maybe I won't be in on this one. the market has not seen my model it seems.
  • #49,275
  • Dec 10, 2008 10:55am Dec 10, 2008 10:55am
Short from 1.30 but close my short It's Market,4th time hit 1.30 and back go UP, Anyone here short @1.30?
  • #49,276
  • Dec 10, 2008 10:56am Dec 10, 2008 10:56am
btw, oil is back where it started before the drop. I was expecting it will be back but it got back up much faster than I thought. This might signal bottom in crude.
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  • #49,277
  • Dec 10, 2008 10:59am Dec 10, 2008 10:59am
Quoting mikkom
btw, oil is back where it started before the drop. About as expected but it got back up much faster than I thought. This might signal bottom in crude.
The oil had me too there...
  • #49,278
  • Dec 10, 2008 11:02am Dec 10, 2008 11:02am
Quoting Hissst
That's what I get with the phimatrix and wave counting.

I get a solid target at 3077, It's gotta move to get there in my time frame though, we'll see what this crazy market gives me, maybe I won't be in on this one. the market has not seen my model it seems.
My take profit is at 3075
  • #49,279
  • Dec 10, 2008 11:06am Dec 10, 2008 11:06am
Back from lunch...amazing resilience.

hmmm

Too many wildcards, but my broad thesis holds up.

Pussied out again...

If i was real smart I would have hit it on the dip, but alas I am just a average joe trying to make a buck - without losing 2.
  • #49,280
  • Dec 10, 2008 11:07am Dec 10, 2008 11:07am
The next candle for M15 and M30 should tell us if it's going up some more or if it's gonna start bouncing back? Ya think?

3080 looks like the previous high on 11/21.
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