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  • #169,301
  • Dec 7, 2009 8:44am Dec 7, 2009 8:44am
Quoting vinesh2
Still looking at this 168906
if weekly closes below it, bears are on - as I mentioned before, too
  • #169,302
  • Dec 7, 2009 8:46am Dec 7, 2009 8:46am
Hellow, where I can watch Bernanke speak life?
  • #169,303
  • Dec 7, 2009 8:47am Dec 7, 2009 8:47am
Quoting psiholog
We have officially broken to the downside for the first time in....around 8 or 9 months. This is majestic!

Why is it important though? Because one could assume this is the beggining of a reversal (too premature in my opinion). Others will say it is December, with the low volume that surrounds this time of year, whatever happens throughout December doesn't affect the long term picture significantly.
Well played young Jedi. Well played.

This is why I may be liquidating my long position soon. But I haven't decided yet particularly because it is December and the reasons you mentioned.
Not all sins are created equal
  • #169,304
  • Dec 7, 2009 8:48am Dec 7, 2009 8:48am
Quoting Allanuk
i`m long at 4795.....profit not sure and stop will watch and bail if looks like i`m wrong direction
do i take my profit now or wait to see what this 4 hour candle brings me......set loss at break even now anyways..so get up there!!
  • #169,305
  • Dec 7, 2009 8:52am Dec 7, 2009 8:52am
Quoting Allanuk
do i take my profit now or wait to see what this 4 hour candle brings me......set loss at break even now anyways..so get up there!!
No i`m out thats me for the day.....4818 - total profits are 36,16,23 not bad because since 11am uk time this is been difficult to judge!
  • #169,306
  • Dec 7, 2009 8:54am Dec 7, 2009 8:54am
Quoting Allanuk
No i`m out thats me for the day.....4818 - total profits are 36,16,23 not bad because since 11am uk time this is been difficult to judge!
Talking to yourself now I see. Time to renew the prescription??
Not all sins are created equal
  • #169,307
  • Dec 7, 2009 8:55am Dec 7, 2009 8:55am
Quoting Jay Walker
Talking to yourself now I see. Time to renew the prescription??

yeah sometimes i better response you know what i mean...harry!
  • #169,308
  • Dec 7, 2009 8:57am Dec 7, 2009 8:57am
Quoting Jay Walker
Talking to yourself now I see. Time to renew the prescription??

The best thing that can happen to you is to find out where you're wrong.
  • #169,309
  • Dec 7, 2009 8:58am Dec 7, 2009 8:58am
Quoting Allanuk
yeah sometimes i better response you know what i mean...harry!
No I don't. It's probably better that way.
Not all sins are created equal
  • #169,310
  • Dec 7, 2009 8:58am Dec 7, 2009 8:58am
I can't imagine Ben even suggesting they will raise rates. For what? Inflation is in check, we're still losing jobs, and the weak dollar is benefiting the US. Maybe they want treasurys to appear more attractive? But my opinion is that the rates will stay low for a long time.
  • #169,311
  • Dec 7, 2009 8:59am Dec 7, 2009 8:59am
Quoting Jay Walker
No I don't. It's probably better that way.
whatever.....
  • #169,312
  • Dec 7, 2009 8:59am Dec 7, 2009 8:59am
Here is an intresting article...

"S&P 500 options to protect against declines in stocks over the next year cost 22 percent more than one-month contracts, the highest since 1999, data compiled by London-based Barclays Plc and Bloomberg show. "

http://www.bloomberg.com/apps/news?pid=20601087&sid=aWR6YjdVs0s4&@#$%&!=6
  • #169,313
  • Dec 7, 2009 9:00am Dec 7, 2009 9:00am
Ok, currency traders think fed will raise sooner, therefore stronger USD. I get that. But what is up with stocks? They continue to be strong, when clearly an intrest rate hike would hurt them. Any suggestions?
  • #169,314
  • Dec 7, 2009 9:00am Dec 7, 2009 9:00am
Quoting Jay Walker
Talking to yourself now I see. Time to renew the prescription??
so it is never boring

good day mates...
  • #169,315
  • Dec 7, 2009 9:01am Dec 7, 2009 9:01am
Its back after Friday it came back DAX moves and SP500 up -> € moves up..... yippie so I dont need to look for another job.

PS just kidding with the job part
Trade on your own risk Plan your trade&trade your plan dont be a
  • #169,316
  • Dec 7, 2009 9:01am Dec 7, 2009 9:01am
Phisdog we are on the same page. However, I am not jumping on guns till we see a weekely close below the trendline. Also, we should be on the look out for a false break. So I would think for a strong break to happen we need to two weeks of consistent close below 1.48 level
  • #169,317
  • Dec 7, 2009 9:02am Dec 7, 2009 9:02am
my lines still holding the price. now watching. today's result +85 pips so far. details on my blog for everybody as always.
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  • #169,318
  • Dec 7, 2009 9:17am Dec 7, 2009 9:17am
Quoting Protogenos
I can't imagine Ben even suggesting they will raise rates. For what? Inflation is in check, we're still losing jobs, and the weak dollar is benefiting the US. Maybe they want treasurys to appear more attractive? But my opinion is that the rates will stay low for a long time.

The rest of world is extremely pissed at US right now. Weak USD is hurting economies all over the world (but helping US). This will be a good test to see if we have an independent Fed. Political pressure from Obama and friends is likley high to throw the dollar a life line and get Asia and Europe's bitching off his back. Best intrest of US right now is continued weak dollar. We will see if the Fed is truly independent or not.
  • #169,319
  • Dec 7, 2009 9:19am Dec 7, 2009 9:19am
Quoting vinesh2
Phisdog we are on the same page. However, I am not jumping on guns till we see a weekely close below the trendline. Also, we should be on the look out for a false break. So I would think for a strong break to happen we need to two weeks of consistent close below 1.48 level
In other words, forget December, any significant trading resumes in January. My thoughts exactly, especially since any major trendline usually gets retested to prove it has become a strong level of Support or Resistance (resistance in this case). Add on top of that the high spreads we may experience like last year, best to just take a break for all of December, enjoy the holidays haha.
Different opinions highly valued, ignorant to slander.
  • #169,320
  • Dec 7, 2009 9:20am Dec 7, 2009 9:20am
Quoting Allanuk
whatever.....
Good call exiting at 1,4818.
The short Euro rally seemed to be triggered temporarily by US stocks; still, 1110 seems to be good resistance for S&P, so everybody pulled back before Helicopter Ben clears the waters ahead (or will he?).

And don't mind our witty fellow Jay Walker.
I think he didn't read the 1st rule of the forum ("Respect thy trader") or he's too smart for the rest of us who do a little inner dialogue.

Cograts for your wins today.
Muddy waters indeed, except the big move down in the morning.
I lost 40 pips but I managed to recover and got back at my day's BE.

Long live discipline and money management.
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