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  • #333,421
  • Nov 26, 2010 7:48am Nov 26, 2010 7:48am
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  • #333,422
  • Nov 26, 2010 7:48am Nov 26, 2010 7:48am
Quoting sisse
Lol, you make me laugh mate....
I just woke-up and all the move had already occurred. I'm not taking any positions at these levels. I still have 6 contracts short from 1.37 area and I will be watching until next week to liquidate before futures expiration. Anybody who trade less than 20 contracts is not a big player to me because the minimum position I take at a time is 3 contracts. Most of my colleagues who are still institutional traders are not working today so I will just wait for next week. My experience with days like these is that, most institutions do not take huge positions even if they trade. I have worked as an analyst @ both Barclays global investors and Bank of New york Mellon so I know what I'm talking about. Anyway good luck with your positions if you already have any trade initiated. Have a great weekend.
Prices are never too high to begin buying or too low to begin selling.
  • #333,423
  • Nov 26, 2010 7:48am Nov 26, 2010 7:48am
Quoting cloggie
Won't be long.
Still around. Third touch off the lows.
  • #333,424
  • Nov 26, 2010 7:48am Nov 26, 2010 7:48am
Quoting taomql4
i think you are gonna get hit--S/L
Should be OK imo, looks like it's preparing to push through this support...
  • #333,425
  • Nov 26, 2010 7:48am Nov 26, 2010 7:48am
Quoting taomql4
i think you are gonna get hit--S/L
thanks again....
Look Sharp/Trade Tight
  • #333,426
  • Nov 26, 2010 7:48am Nov 26, 2010 7:48am
Quoting Ifmyante
Flip flopped to short after Cloggie's sphincter forecast. Out at o3 for a profit.
Much respect Cloggie

My sphincter forecast was based on the long below 3245 as trigger, not on taking a short here, they are 2 seperate decisions, and just flipping direction is a revenge trade, not a thought out setup. Usually by the time you flip, the moment has past and you end up revenging yourself to MC.

If a buy is wrong, it does not automatically mean that a short is right.
  • #333,427
  • Nov 26, 2010 7:49am Nov 26, 2010 7:49am
Spain to start reporting monthly on public debt



With Spain, the problem right now is not so much he public debt as the likelihood that bank debt will eventually become public debt, like in Ireland…Both countries had massive US-like property bubbles
  • #333,428
  • Nov 26, 2010 7:49am Nov 26, 2010 7:49am
Back on the bear again at 15
  • #333,429
  • Nov 26, 2010 7:52am Nov 26, 2010 7:52am
Quoting Ifmyante
Back on the bear again at 15

If you want a mediocre of respect or credibility here, post a chart to substantiate your statement or else it is just toilet paper and a wast of bandwidth.
  • #333,430
  • Nov 26, 2010 7:54am Nov 26, 2010 7:54am
Lets hope the m5 forms a little H&S here for those who just went short.Otherwise, you may have a bit of a DD.
  • #333,431
  • Nov 26, 2010 7:54am Nov 26, 2010 7:54am
Quoting cloggie
My sphincter forecast was based on the long below 3245 as trigger, not on taking a short here, they are 2 seperate decisions, and just flipping direction is a revenge trade, not a thought out setup. Usually by the time you flip, the moment has past and you end up revenging yourself to MC.

If a buy is wrong, it does not automatically mean that a short is right.
Good Morning Mr. Cloggie! How are you? Its raining heavily here in houston, tx after thanksgiving!! So what trade ideas for the next 4 hours!!We have now 5 red 4 hr. candles! It seems sell, sell, sell till what?? 1.2730?? Your opinion please.
  • #333,432
  • Nov 26, 2010 7:55am Nov 26, 2010 7:55am
Quoting pqt
Well, here we are again, close to that 1.33 level from where EU dropped a quick 1000pips during the "Greek drama". So far, the "Irish remake" has been a pretty faithful rip-off (pump and dump) and we are heading into a holiday weekend in the US.
The 1.32-1.33 zone should give EU some respite, but if EU closes the week below 1.32, there is a good chance we can say "bye bye Kansas" again and 1.24 here we come.
Watching closely now!...
  • #333,433
  • Nov 26, 2010 7:56am Nov 26, 2010 7:56am
Quoting behman8850
Good Morning Mr. Cloggie! How are you? Its raining heavily here in houston, tx after thanksgiving!! So what trade ideas for the next 4 hours!!We have now 5 red 4 hr. candles! It seems sell, sell, sell till what?? 1.2730?? Your opinion please.
You will probably find that out if you go back thru the posts. Just look for cloggies entries.
  • #333,434
  • Nov 26, 2010 7:56am Nov 26, 2010 7:56am
Anglo Irish, Allied Irish, Bank of Ireland all downgraded multi-notches by S&P.
  • #333,435
  • Nov 26, 2010 7:57am Nov 26, 2010 7:57am
Quoting cloggie
You are starting to look at what-if scenarios and no longer at bias, that is a big step in the right direction. Ultimately a trader does not give a toss which way, only where once certain criteria have been met. There is logical sequencing in price patterns and movements, just a matter of finding them.
I've been following your posts for the last month or so with considerable awe, and the accuracy of your calls appear to substantiate the claim for a 'logical sequencing in price patterns', yet...I'm somewhat sceptical with the (strict) notion of a logic in this case.

If such logic existed, and was consistent over time, it would be possible to formalise it (to a large extent) and automate it in the form of a computer program and you'd get an automatic trader printing money for you. (Ah well, that sounds a bit like BB ). I am aware advances in automatic trading in general (no I don't know how GS does it), but even GS had massive losses last quarter.

So I believe that what you call 'logical sequencing in price patterns' is (1) a somewhat fuzzy notion of most probable patterns combined with (2) an expertise which allows you to deviate from them, allows you to override the logic if you like, which (3) is not fixed over time.

Just my 2cents, which does not conflict with my liking of the calls...keep 'em coming.
  • #333,436
  • Nov 26, 2010 7:57am Nov 26, 2010 7:57am
For those who still have Shorts:

Check M30, there is a lot of support at 1.3200-1.3215.
  • #333,437
  • Nov 26, 2010 7:57am Nov 26, 2010 7:57am
same pattern over and over...
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  • #333,438
  • Nov 26, 2010 7:59am Nov 26, 2010 7:59am
Breaking news Spain to talk with Eurogroup this weekend
  • #333,439
  • Nov 26, 2010 7:59am Nov 26, 2010 7:59am
Quoting zaphy
I've been following your posts for the last month or so with considerable awe, and the accuracy of your calls appear to substantiate the claim for a 'logical sequencing in price patterns', yet...I'm somewhat sceptical with the (strict) notion of a logic in this case.

If such logic existed, and was consistent over time, it would be possible to formalise it (to a large extent) and automate it in the form of a computer program and you'd get an automatic trader printing money for you. (Ah well, that sounds a bit like BB ). I am aware advances in...
That is one of the problems I have been working on for the past few years, there is a degree of at times just a hunch that overrides the sequencing. My goal would be to automate it and it will probably take me a few more years to achieve that. The work I have done so far in mathematically identifying the trigger and target levels is the first step in that process. That step is not finished yet and it has taken me 3 years to get to this point in just that part of the process.
  • #333,440
  • Nov 26, 2010 8:00am Nov 26, 2010 8:00am
True. Just having one of those days. Tail well between legs. Will wait for proper signals. No more gun jumping
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