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  • #127,621
  • Aug 2, 2009 11:15pm Aug 2, 2009 11:15pm
Quoting toshi
143 is looking like an only child, an ugly one at that.
No body seems to wants 143. If longs bail out from 143, several times now
in the past 2 weeks, does it not elude of retest of lows, atleast to confirm 140 ?

Don't remember who said, "..for markets to go higher it requires buying.
But, for a market to drop, all it takes is a lack of buying....


I am part of this team of perverts ...

Let us be green
  • #127,622
  • Aug 2, 2009 11:21pm Aug 2, 2009 11:21pm
Quoting toshi
143 is looking like an only child, an ugly one at that.
No body seems to wants 143. If longs bail out from 143, several times now
in the past 2 weeks, does it not elude of retest of lows, atleast to confirm 140 ?

Don't remember who said, "..for markets to go higher it requires buying.
But, for a market to drop, all it takes is a lack of buying....
not only that but today`s 1.43 rejection happened on solid volume while the run-up happened on almost no volume at all and it kinda smells like a mark-up to pick up some sells. also check out the daily beaish macd divergence that has been going on since 1.4336
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #127,623
  • Aug 2, 2009 11:37pm Aug 2, 2009 11:37pm
Quoting toshi

If 143 is an ugly child, does that mean 138 is a naughty little girl ?
Here to illustrate:

This is 143:
Attached Image
  • #127,624
  • Aug 2, 2009 11:37pm Aug 2, 2009 11:37pm
And this is 138
Attached Image
  • #127,625
  • Aug 2, 2009 11:39pm Aug 2, 2009 11:39pm
Quoting toshi
And this is 138
man u are always on high...

good morning all...market shall touch pivot in 2 hours.
  • #127,626
  • Aug 2, 2009 11:40pm Aug 2, 2009 11:40pm
toshi LOL whats with the pic...
  • #127,627
  • Aug 2, 2009 11:43pm Aug 2, 2009 11:43pm
Quoting trading801
toshi LOL whats with the pic...

She's a naughty lil' bitch. That's why her pic is going wiggy. See what I mean ?

138. I'm gonna try to keep it in my pants........


Quoting Alihuzaifa
man u are always on high...
I wish I was.......
  • #127,628
  • Aug 3, 2009 12:01am Aug 3, 2009 12:01am
Quoting gatorinla
if we bounce now in a crappy (if weak bounce) bounce look for a top around 49 or 60.5/61.. scalpers bounce only
so far bearish personality..even though 23.6%/75.4% depending how you pull your nutz was the low we bounced from... franky time soon.. bulls got us this high and i cant see them giving up without a fight. i thought 61 was a given.. but 49 is a big number where it sits in history..maybe just the quiet before the storm. i closed tp at 49.
those who can, do. those who cant, talk about those who can
  • #127,629
  • Aug 3, 2009 12:03am Aug 3, 2009 12:03am
Quoting gatorinla
100 ... considering doing it for 24 entry sl 22 tp 29.5... 24 is mt target but with spread my entry would be 25.. with normal spread my my sl would actually be 3 pips or 1.5%.. my tp would be 4.5 pips or 2.25%
bbl i got this one pending on auto..taking a break
those who can, do. those who cant, talk about those who can
  • #127,630
  • Aug 3, 2009 12:10am Aug 3, 2009 12:10am
One thing that has been impossible to ignore this entire time the past 3 months
is market has positioned itself rather long and in a rather lop-sided way.
COT is getting ridiculous. When's the last time you've seen this kind of bias ?

Nimble bears have been able to score 200, 300 pips or more selling tops
when and where the opportunities presented themselves during that time.

Even though the "sure money" was on the long side, the fast money was made on the short side.

Now what ? Again, can not ignore the upward bias. A breach of 140 ~ or so with conviction
is key to a reversal. How else can it happen ? Else we sell the strength, buy the dips
and wait for a breach.

I will not allow myself to get caught long in here. I'd rather sell the strength
with a protective stop than to trust that this trend is solid. Any buying I would entertain
would have to be from lower levels. Even that makes me queasy.

Here: look at this pic. Don't it look bullish ? Man, makes you wanna go out and buy some, huh ?

Nope. I don't think it's ready to go anywhere yet. Not too far anyway.
1 or 2 % more either way won't change the landscape. There's a 6 handle range anyway.
Now, if we start looking at a 10 or 12 handle move in a short span of time,
that's a different story.
Attached Image (click to enlarge)
Click to Enlarge Name: arrow.PNG Size: 39 KB
  • #127,631
  • Aug 3, 2009 12:18am Aug 3, 2009 12:18am
Dubai house prices tumble 50%
  • #127,632
  • Aug 3, 2009 12:25am Aug 3, 2009 12:25am
Quoting Alihuzaifa
Dubai house prices tumble 50%
Over what period?
The Thief of Wall Street
  • #127,633
  • Aug 3, 2009 12:25am Aug 3, 2009 12:25am
Need a reason to sell ?

Here's a bunch of bullshit indicators.

I do use the pivots, though. However, nothing trumps price. The price is what I pay attention to.

Here's the action since Asia open, as we go into the 1st trading session of this new week/month for Europa.

Yes, I'm trading on the surface of Jupiter's moon. Wanna fight about it ?
Attached Image (click to enlarge)
Click to Enlarge Name: bs.PNG Size: 40 KB
  • #127,634
  • Aug 3, 2009 12:31am Aug 3, 2009 12:31am
Quoting Chicky
Over what period?
LESS THEN 5 YEARS
  • #127,635
  • Aug 3, 2009 12:35am Aug 3, 2009 12:35am
Quoting Alihuzaifa
LESS THEN 5 YEARS

wow
  • #127,636
  • Aug 3, 2009 12:36am Aug 3, 2009 12:36am
Quoting Alihuzaifa
LESS THEN 5 YEARS
Oil = $140........House in Dubai = 100%

Oil = $70.........House in Dubai = 50%

Is it that simple ? I would not think so.

any more so than house in america, house in england, etc.
but, doesn't crude play a greater factor in dubai when
it comes to the value of other assets, since oil is what
drives the local economy ?

Then again, Northern California Coast has a completely different
economic model and they're down 50% too in even shorter period of time.
Has the price of Cabernet wine dropped lately or the cost to fix your PC ?

How about Southern California ?
Has the price of Hollywood hookers gotten any cheaper?
You know I know the answer to that one.
  • #127,637
  • Aug 3, 2009 12:37am Aug 3, 2009 12:37am
UAE is just a bubble without any solid foundation...its just a hype
  • #127,638
  • Aug 3, 2009 12:45am Aug 3, 2009 12:45am
Quoting toshi
Oil = $140........House in Dubai = 100%

Oil = $70.........House in Dubai = 50%

Is it that simple ? I would not think so.

any more so than house in america, house in england, etc.
but, doesn't crude play a greater factor in dubai when
it comes to the value of other assets, since oil is what
drives the local economy ?
Dubai has no oil. They exhausted their reserves in 1992. All developments revolve around tax free trading zone because it offers common market to countries that have no bilateral trade due to their differences.
The Thief of Wall Street
  • #127,639
  • Aug 3, 2009 12:57am Aug 3, 2009 12:57am
I think its time to hold on to our hats.
The Thief of Wall Street
  • #127,640
  • Aug 3, 2009 12:58am Aug 3, 2009 12:58am
Quoting Chicky
I think its time to hold on to our hats.
sure baby hold on...bearish tsunami on the way
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