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Technical Analysis Fallacy

  • #8,241
  • Edited 9:26am Jun 29, 2009 9:14am | Edited 9:26am
wow,wow, scared the living daylights out of me.

preparing level 5 again.
come to papa.........baby.

at this rate, I could get the same cadallac arrested like micky el got.

its gonna be a long long week.
  • #8,242
  • Jun 29, 2009 9:27am Jun 29, 2009 9:27am
Looks like a dead cat, or a posture before jumping off cliff.
But, if no jumping after this posture, I'll surrender
  • #8,243
  • Jun 29, 2009 9:36am Jun 29, 2009 9:36am
Quoting fti
wow,wow, scared the living daylights out of me.

preparing level 5 again.
come to papa.........baby.

at this rate, I could get the same cadallac arrested like micky el got.

its gonna be a long long week.
carefull la ,
dont want hrt attack n all
can fight another day , if today no good


observation wise , dow pushing dollar ...
To Live is the rarest thing in the world , Most people exist , that is all
  • #8,244
  • Jun 29, 2009 9:38am Jun 29, 2009 9:38am
Quoting maheswara
carefull la ,
dont want hrt attack n all
can fight another day , if today no good


observation wise , dow pushing dollar ...
recovered level 4
losses taken, down level 2

squaring out now.


losess booked, finished for the week.
gotta rest, toomuch durian+losses.
cu.
  • #8,245
  • Jun 29, 2009 9:40am Jun 29, 2009 9:40am
The Sun is rising--- look at 3 kings.
  • #8,246
  • Jun 29, 2009 9:42am Jun 29, 2009 9:42am
Quoting imjscn
The Sun is rising--- look at 3 kings.
no thanks, gotta rest.
regards
  • #8,247
  • Jun 29, 2009 9:43am Jun 29, 2009 9:43am
Quoting fti
recovered level 4
losses taken, down level 2

squaring out now.


losess booked, finished for the week.
gotta rest, toomuch durian+losses.
cu.
hopefully book not too bad ,
u r a pro la , however bad will always recover ,
rest well sir
To Live is the rarest thing in the world , Most people exist , that is all
  • #8,248
  • Jun 29, 2009 9:45am Jun 29, 2009 9:45am
A secret source said ECB is going to hold rate for months to come.
  • #8,249
  • Jun 29, 2009 9:49am Jun 29, 2009 9:49am
Quoting fti
no thanks, gotta rest.
regards
Ok, I'm out too. Let's fight another day. Good night!
  • #8,250
  • Edited 11:51am Jun 29, 2009 10:16am | Edited 11:51am
OK, long the E/Y at 134.55. Man, had to wait long enough for this one. Let's see if it can develop some legs. Will take +10 or +30 which ever comes first. Not going to get greedy at the beginning of the week.
OK, now out and finished for the day. Good trading to everyone
  • #8,251
  • Jun 29, 2009 4:28pm Jun 29, 2009 4:28pm
Quoting imjscn
Hello lilpip, would you please post a picture? Thanks in advance!
Thats one of the things I want to learn how to do, I have a buddy whos done my computer work as far as any downloads etc.
However, I need to practice if you can give me directions Ill attempt it.

If your unable to go back and review the 5 min. chart Id strongly suggest getting a demo account with a broker where you can for reviewing purposes. I couldnt imagine trying to learn without being able to do so.
  • #8,252
  • Edited 5:11pm Jun 29, 2009 4:36pm | Edited 5:11pm
the NY session sure did not want to climb above e/u 4095 area friday, sunday, monday or about 3 weeks as far as that goes, I get the feeling will know soon enough on what she wants to do.
Will see what tonite brings.
scouts in @ 93 .
1x 85 and off the table @ 71, wife wants to go to dinner.
Scout still in as I will be able to rescue him if I have to.
  • #8,253
  • Jun 29, 2009 6:33pm Jun 29, 2009 6:33pm
Good Morning, dear fti and all !

@lilpip: I can locate the bars you mentioned on my chart. But not sure if I "see" them
To upload a pic here, do these things:
1. With the chart open, press "PrintScreen";
2. Open Paint program from Start menu;
3. Paste ;
4. Crop the pictue to remove other things around the chart;
5. Save as jpg, or png or gif instead of the Paint default bmp file;
6. When post message here, click "Manage Attachments" to upload;
(you can also upload the pic to a hosting site, then post it here, but that's an advanced version for you )
  • #8,254
  • Edited 8:10pm Jun 29, 2009 7:55pm | Edited 8:10pm
Quoting imjscn
Good Morning, dear fti and all !

@lilpip: I can locate the bars you mentioned on my chart. But not sure if I "see" them
To upload a pic here, do these things:
1. With the chart open, press "PrintScreen";
2. Open Paint program from Start menu;
3. Paste ;
4. Crop the pictue to remove other things around the chart;
5. Save as jpg, or png or gif instead of the Paint default bmp file;
6. When post message here, click "Manage Attachments" to upload;
(you can also upload the pic to a hosting site, then post it here, but that's an advanced...
lilpip:

See if these suit you:

Free screen capture software:
http://www.mirekw.com/winfreeware/mwsnap.html

Free external image host:
http://photobucket.com/

The advantage of using a external image host over the attachment from this forum engine is that you can embed images among your texts rather then showing them below your text.
  • #8,255
  • Jun 29, 2009 8:37pm Jun 29, 2009 8:37pm
Back from dinner, between giving the kids their needed attention it looks like Ill be in rescue mode and flipping around to head north.

thanks for instruction on how to give screen shot, Ill attempt when freed up.
  • #8,256
  • Edited 10:34pm Jun 29, 2009 10:10pm | Edited 10:34pm
hmmm... I don't think flip up from here is a good idea.... say... it's already on range top, and volatility is decreasing.... Plus, we'll have July 4th and NFP soon.

My guess on the time to break this range---Thursday, Pre-NFP;
  • #8,257
  • Jun 29, 2009 11:45pm Jun 29, 2009 11:45pm
Hi ALL,
the squeeze continues.
Wonder who and whats behind it all.
Its BIG.

How are you all doing?

regards
  • #8,258
  • Edited 12:30am Jun 30, 2009 12:17am | Edited 12:30am
Quoting imjscn
hmmm... I don't think flip up from here is a good idea.... say... it's already on range top, and volatility is decreasing.... Plus, we'll have July 4th and NFP soon.

My guess on the time to break this range---Thursday, Pre-NFP;
Marked in red is dangerous thinking. You never really know where the top is. The rest is ok analysis.

If you are feeling toppish , so can the market makers, he made it that way. give him a paper reason to trap you and he will, create a short looking potential and sweep against you.
I don't like to think top and bottoms , only interim hills and valleys , it keeps my nose clean mostly.

regards

I had been checking on whats happening in the markets lately, getting no answers except lots of BS about risk appetite increase, and half yearly book value defense.......and the sorts, some talking about higher oil prices and stock prices.

The parts about the stock prices firmness tickles me a little.
It is percieved that the usd is doing a balancing act vis a vis stock prices. And if the weakness of the the usd is truly doing that , then it would seem that the equities are rallying without real improvement on the ground and real economic growth. If this was the case , doesn't it imply that the rally is rigged. If this is the case beware of the bear bubble within. Somehow seems (ward 13) investors likes creating bubbles. Now where's my pin. how;s about selling equities into the big bang day, thats a rigid idea, but the reporting suggested it.

regards
  • #8,259
  • Edited 12:42am Jun 30, 2009 12:24am | Edited 12:42am
Good day, fti,
Not much has happened during Asia, saw some long position squaring around Tokyo lunch time.

On the talking market, some intelligence saw ECB printed more money than Fed,--- "An opinion piece from the Times Anatole Kaletsky out today argues that the ECB's activities, including its massive liquidity injection from last week, in which over EUR 440 billion was lent in 1-year funds, mean that the ECB has extended more credit than even the US Fed and that the ECB's extension of credit directly to banks is perhaps more risky than the Fed's massive issuance of debt. Effectively, much of the money lent to European banks has gone straight to the purchase of government debt in countries like Greece, Spain and Ireland - a sort of roundabout QE."

On the another side of the talking market, they see Fed rate will stay low. 4Cast just sent an article of "Money velocity could fall further, dampening inflation risks".

Another thing China said yesterday they'll slow down metal purchasing.

Despite what they say, I sent a short scout early in the moring at 1.4110

Another article to confuse our mind: China warm up with USD
http://www.weeklystandard.com/Conten...ybhwl.asp?pg=1
  • #8,260
  • Jun 30, 2009 12:32am Jun 30, 2009 12:32am
Quoting fti
Marked in red is dangerous thinking. You never really know where the top is. The rest is ok analysis.

If you are feeling toppish , so can the market makers, he made it that way. give him a paper reason to trap you and he will, create a short looking potential and sweep against you.
I don't like to think top and bottoms , only interim hills and valleys , it keeps my nose clean mostly.

regards
Yes, Sir! I gave myself a big warning signal about the topish/bottomish BS. Another scorpion to fight against!
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