When I read threads like these it makes me wonder if anyone knows what a trend actually IS!!! Trading counter-trend is a losers game that will give you some large wins, but never enough to make up for the losses.
I thought it was the other way around: 1. Trend following systems: a lot of small losses, few big wins. 2. Counter-trend systems: a lot of small wins, few big losses.
It depends on which trend you trade, short term, intermediate, or long term, or all three. If I am a short term trader I will buy a stock when the intermediate and long term are trending up and the short term is down. If I am a long term trader I will buy when the long-term trend is up, the intermediate is down, and the short term is up. This will allow for some pretty good moves.
I don't remember the post, but someone said pending housing sales data can be months old. How current were this morning's data? Also, how much do people want to believe builders who say that housing has bottomed? $HGX and builders are about flat with their pre-10AM prices. Looks like optimism to me, misguided or otherwise.
How can PENDING sales data be month's old?!! These are sales figures where contracts have been signed but not finalised...so in essence, sales about to happen (a forward indicator) http://www.nasdaq.com/econoday/repo...ing_home_sales/year/2007/yearly/05/index.html