Be scared Tuesday?

Discussion in 'Trading' started by pumpanddumper, Jul 23, 2007.

  1. Futures dropping like a rock.

    Doesn't matter up or down, my account just goes down.
  2. Ever since that huge rally a couple thursdays ago the markert hasn't really done anyting.

    The problem with the futures is thet they are a function of each of the major Asian markets and European markets. If the US markets are up in order for the futures to remain level the Asian indexes must rise in correlation with the previous US market gains. Otherwise the futures will decline.
  3. opm8


    What the hell are you talking about? The ES is down 2.75 points.
  4. The usual advice always works for me. When in a bad drawdown:

    1. Trade MUCH smaller, but continue to trade...unless,

    2. Your system or method is showing strong signs of being "broke" (could be difficult to determine this), then stop for a while and take the time to evaluate every trade.

    3. Always be looking for and trying new methods, in a small size at first. You need different methods for different market conditions.

    4. Take a break for awhile to clear your head. It's amazing what new ideas can pop in there, when you are thinking about something else when you are away from the action.

    These kinds of things help me. Keep at it and you will do fine. Good luck. :cool:
  5. That means a big rally tomorrow.
  6. Hope it sells off all day and pick up some bargains....
  7. It's earnings season which should be a strong and jovial time for stocks to rally...they're not. Maybe you should take a strong hint from that that it's not a great time to be dip buying until the trend sets back in motion or is shown to have been stopped. Might help your account from going down if you just wait and see what happens for now.
  8. Today is a great day to test the bulls, we opened with a very rare gap down.

    Lets see just how strong the bulls are, more than likely we get the lunch time drift up, so let the game begin.
  9. Bulls have nothing today...Countrywide's earnings showed how weak the markets are and the dollar's weakness against EVERYTHING isn't going to do much for the bulls today market-wise me thinks.

    Good luck.
  10. US dollar index just broke under 80.00, but thats great right :confused:
    #10     Jul 24, 2007