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  • #288,061
  • Sep 1, 2010 10:26pm Sep 1, 2010 10:26pm
Quoting Srikanth
just a correction is going on before the london open... US session ultimately lift things up to the sky..
gravity
those who can, do. those who cant, talk about those who can
  • #288,062
  • Sep 1, 2010 10:27pm Sep 1, 2010 10:27pm
Quoting manojsai
promise a boring day in range 2800-2780 untill it decide to beakout.

to be off the track the smark money/sharks always moves in group.buy they buy in group and sell they sell in group.
was checking some articles on shoal behavior and found this one on fishes.

Critical Population Density Triggers Rapid Formation of Vast Oceanic Fish Shoals

Nicholas C. Makris,1* Purnima Ratilal,2 Srinivasan Jagannathan,1 Zheng Gong,2 Mark Andrews,2 Ioannis Bertsatos,1 Olav Rune Godø,3 Redwood W. Nero,4 J. Michael Jech5

[i]Similarities in...

Im down with that mate. Fibs work around the same thinking.
'Collective consciousness' is so ingrained its almost imperceptible.
We 'think' we all think uniquely, but the truth is, very few think outside the square at all.
Ever heard of the 100th monkey syndrome? It's worth a look. On an Island in Malaysia somewhere a long time ago, an isolated tribe of monkeys were shown by a professor how to wash their potatoes before eating them.
After the 100th monkey had learned this, other tribes on other isolated Islands automatically started to do it too...
There seems to be a point at which a singularity of focus accelerates in magnitude to the point that it becomes a natural part of the 'Collective consciousness'.
We traders do exactly the same thing it seems. In fact, I doubt there is a system in creation that doesnt behave in that way.
Its all intimately connected.
  • #288,063
  • Sep 1, 2010 10:35pm Sep 1, 2010 10:35pm
Resistance either way.
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  • #288,064
  • Sep 1, 2010 10:39pm Sep 1, 2010 10:39pm
Quoting longshot_nl
Resistance either way.
we may have a head fake to 2858 then lower to 2632 and beyond. we got a bullish wedge building since 2855.. but strong resistance at 2858.. so a d top is not out the question and more likely. unless the wedge breaks lower before higher..
those who can, do. those who cant, talk about those who can
  • #288,065
  • Sep 1, 2010 10:42pm Sep 1, 2010 10:42pm
sell opportunity.
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  • #288,066
  • Sep 1, 2010 10:48pm Sep 1, 2010 10:48pm
spsantos,buai
Fibs sometime work as self fullfilling prophecy and same to for S/R lines ending in two zero (2800 etc)

i rest my case with two quotes from two 18 th centuary thinkers

Lebon
"The most striking peculiarity presented by a psychological crowd is the following: Whoever be the individuals that compose it, however like or unlike be their mode of life, their occupations, their character, or their intelligence, the fact that they have been transformed into a crowd puts them in possession of a sort of collective mind which makes them feel, think, and act in a manner quite different from that in which each individual of them would feel, think and act were he in a state of isolation."

Charles Mackay's "Extraordinary Popular Delusions and the Madness Crowds
A crowd, as I define it, is any group with a common purpose or interest. The intelligence of the crowd is not the average intelligence of the individuals. The individual sinks to the level of the crowd, which is quite separate from, and below the intelligence of the individuals

may explain why the market sometime move irrationally and away from fundamental signals.
  • #288,067
  • Sep 1, 2010 10:51pm Sep 1, 2010 10:51pm
Quoting gatorinla
we may have a head fake to 2858 then lower to 2632 and beyond. we got a bullish wedge building since 2855.. but strong resistance at 2858.. so a d top is not out the question and more likely. unless the wedge breaks lower before higher..
I had some trouble fitting 2858 into a chart.
But how is this?
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  • #288,068
  • Sep 1, 2010 10:52pm Sep 1, 2010 10:52pm
Morning
The best thing that can happen to you is to find out where you're wrong.
  • #288,069
  • Sep 1, 2010 10:59pm Sep 1, 2010 10:59pm
Quoting Driver55
Morning
Morning
  • #288,070
  • Sep 1, 2010 11:01pm Sep 1, 2010 11:01pm
Quoting longshot_nl
sell opportunity.
that ship may have already sailed.
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those who can, do. those who cant, talk about those who can
  • #288,071
  • Sep 1, 2010 11:01pm Sep 1, 2010 11:01pm
http://www.bloomberg.com/news/2010-0...uch-worse.html

Its just stupid stuff like this that makes me laugh...

If inventories and other data is at historic lows... then the value of those companies should be too genius! Sorry but laying half of your workers may made you more efficient and brought good Q2 earnings but that doesn't raise your value since your potential has just dropped accordingly.

Put a spin on it.. instead of thinking the data can't get much worse... the headline should be that the market is overvalued!
  • #288,072
  • Sep 1, 2010 11:03pm Sep 1, 2010 11:03pm
Quoting gatorinla
we may have a head fake to 2858 then lower to 2632 and beyond. we got a bullish wedge building since 2855.. but strong resistance at 2858.. so a d top is not out the question and more likely. unless the wedge breaks lower before higher..
oh this is what hes saying
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  • #288,073
  • Sep 1, 2010 11:12pm Sep 1, 2010 11:12pm
Quoting longshot_nl
oh this is what hes saying
i cant say im a fan of lines especially during consolidation. but here is a few..
but it will do whats its gonna do..i say 2858 but its a big one and 30 pips above i will call good also..
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those who can, do. those who cant, talk about those who can
  • #288,074
  • Sep 1, 2010 11:21pm Sep 1, 2010 11:21pm
Quoting gatorinla
i cant say im a fan of lines especially during consolidation. but here is a few..
but it will do whats its gonna do..i say 2858 but its a big one and 30 pips above i will call good also..
ok.. hows this?
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  • #288,075
  • Sep 1, 2010 11:22pm Sep 1, 2010 11:22pm
The retail masses are clamoring for a buy on E/U. Enough to make ya think. We might have got the overshot >.2820 in the New York session and that's all there was. But, hey, I'm long too.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #288,076
  • Sep 1, 2010 11:23pm Sep 1, 2010 11:23pm
Quoting longshot_nl
ok.. hows this?
Holly sh... its got some nice confluince i must say...
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  • #288,077
  • Sep 1, 2010 11:36pm Sep 1, 2010 11:36pm
Quoting The Fool
The retail masses are clamoring for a buy on E/U. Enough to make ya think. .
gives some food for thought ,sharks dont like it, maybe even a sharp down spike to 2750/2744 area to flush the stops if they really want to take it north and what if the spike down is for real ???.
i am yet to pick a position,
  • #288,078
  • Sep 1, 2010 11:42pm Sep 1, 2010 11:42pm
Quoting longshot_nl
ok.. hows this?
beautiful. if we draw enough one may be right. i trust levels more. a simple place at a infinite point in time. tl follow a watch. sometimes you have to stretch time. i use them but i want something else to back them up.
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those who can, do. those who cant, talk about those who can
  • #288,079
  • Sep 1, 2010 11:47pm Sep 1, 2010 11:47pm
gotta watch out for that gold fever - you see 150-pip move in London yesterday after watching a whole lotta dojis and the tendency is to think omg do it again!

we probably squeak along now in a 60-pip range until NFP...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #288,080
  • Sep 1, 2010 11:50pm Sep 1, 2010 11:50pm
Quoting gatorinla
beautiful. if we draw enough one may be right. i trust levels more. a simple place at a infinite point in time. tl follow a watch. sometimes you have to stretch time. i use them but i want something else to back them up.
I don't know what levels you are talking about. Murrey levels? Resistance levels? Fib levels?
I like lines because if a prediction is hit 2 dimensional spot (time and value) its seem to me a better trade then a one dimensional level, a level.
But again, i don't know much about your levels.
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