"If The Fool persists in his Folly he will become wise." - William Blake
- #128,701
- Aug 5, 2009 5:02pm Aug 5, 2009 5:02pm
- Joined Apr 2009 | Status: Live and learn. | 25,160 Posts
- #128,707
- Aug 5, 2009 6:53pm Aug 5, 2009 6:53pm
- Joined Oct 2008 | Status: sideline is a position | 105,124 Posts
those who can, do. those who cant, talk about those who can
good day, traders.
i dunno. S&P, dow, stoxx, nikkei, all of them down for the last couple of days now (?), but no significant downward movement. i even see commodities in red (although im not quite sure how low they went... haven't checked their charts yet). two major US data released 10 hours ago should've pushed the price lower by now. but we're still stuck with a ranging price.
maybe the bulls are really raring to go? a trend line in the daily charts was legitimately broken. maybe the bulls are just waiting for another "green day" before making that big run.
whatever... i hope we all catch the green pips.
i dunno. S&P, dow, stoxx, nikkei, all of them down for the last couple of days now (?), but no significant downward movement. i even see commodities in red (although im not quite sure how low they went... haven't checked their charts yet). two major US data released 10 hours ago should've pushed the price lower by now. but we're still stuck with a ranging price.
maybe the bulls are really raring to go? a trend line in the daily charts was legitimately broken. maybe the bulls are just waiting for another "green day" before making that big run.
whatever... i hope we all catch the green pips.
- #128,710
- Aug 5, 2009 7:17pm Aug 5, 2009 7:17pm
- Joined May 2009 | Status: step into liquid | 3,459 Posts
I lost my cable and internet connection about 10 minutes before the 10 am news release. I was steamed, it threw my whole trade plan off. It was restored about 3 hours later or so. 
Looks like I didn't miss anything.
Looks like I didn't miss anything.
- #128,711
- Aug 5, 2009 7:30pm Aug 5, 2009 7:30pm
- | Joined Jun 2009 | Status: Yes, big Bear with a Bull mask | 11 Posts
I lost my cable and internet connection about 10 minutes before the 10 am news release. I was steamed, it threw my whole trade plan off. It was restored about 3 hours later or so.
Looks like I didn't miss anything.
After a while I realized that it (could have been) a chance to learn to control my temper while trading (something I battle with all the time), its the "child" in me taking over the "adult" which is not strong enough yet!
Like I said, I really "feel" for you! "Trading in the Zone" is a good book for this.
- #128,712
- Aug 5, 2009 7:32pm Aug 5, 2009 7:32pm
- Joined May 2009 | Status: step into liquid | 3,459 Posts
- #128,715
- Aug 5, 2009 7:47pm Aug 5, 2009 7:47pm
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
From what I see on the daily chart, my bias is for short, although I have not placed a trade. Can it break the upper sub-trend line and go for the 45's, 46's or even the 47's and more? Sure it can. Will it though? Who know's? If a gun was at my head, I'd say short until the lower sub-trend line, and then see what happens from there on. The reason I'd favour short is because we are (more or less) at the upper sub-trend line limit's and because of the past 2 days doji like candles. But.....I will wait and see
5c
5c
Doing what you like is Freedom. Liking what you do is Happiness.
- #128,716
- Aug 5, 2009 8:01pm Aug 5, 2009 8:01pm
- Joined Sep 2008 | Status: Married - 5 Wives | 14,713 Posts
The Thief of Wall Street
- #128,717
- Aug 5, 2009 8:07pm Aug 5, 2009 8:07pm
- Joined Jan 2005 | Status: Grizzled Member | 848 Posts
Someone just said "if a gun were to my head". I think that's a good way to really think of direction sometimes. If a gun were to my head, I'd say short. Just me. I've been saying that for days though. Thank goodness there's not a gun to my head.
There's always money in the banana stand.
- #128,718
- Aug 5, 2009 8:40pm Aug 5, 2009 8:40pm
- Joined Sep 2008 | Status: Married - 5 Wives | 14,713 Posts
The Thief of Wall Street
- #128,719
- Aug 5, 2009 9:07pm Aug 5, 2009 9:07pm
- Joined May 2009 | Status: Re-member | 6,497 Posts
good day, traders.
i dunno....
just hogs and cheeps
- #128,720
- Aug 5, 2009 9:14pm Aug 5, 2009 9:14pm
- Joined May 2009 | Status: Re-member | 6,497 Posts
Someone just said "if a gun were to my head". I think that's a good way to really think of direction sometimes. If a gun were to my head, I'd say short. Just me. I've been saying that for days though. Thank goodness there's not a gun to my head.
This is why we have strict money management rules, so I don't really care if I lose. In fact I like losing because then I know I am one step closer to winning
blablabla...
