It'd be interesting to see if the Indians ask for more money. Cheap labor in China is just to the north.
I've never been a bigger believe in Fib retracements per se. I don't know if retracements can ever be so precise. But I believe in a more macro type of "fibonacci retracement"; ie, entire countries retracing. That's what's happening in the US right now. It's an iron law of economics that countries can't stay on top forever. You'd think they could. But human nature has never changed and never will. And human nature contends that the 2nd and 3rd generations of great wealth never work as hard as our parents. The life cycle of the US has hit the maturing stage. All the signs are there. Fiat money supply exploding, over extended militarily, arrogance, bloated government, high debt levels, huge trade imbalances, deterioration of our education system (kids who can't read or write now get promoted to a higher grade level because "we don't want to hurt their feelings", if thats not a sign of a country at its apex, I dont know what is). Whether we slide into the abyss or not is up for debate. But there will clearly be some "down waves" in our fib retracement levels in the decades to come. It's tragic that most people in this country are so ignorant of the countries finances. Printing money has never created true wealth. Eventually, this will all catch up with us.
indian jobs are safe at the moment. call centers need strong english language skills. other jobs in india are too white collar. china's niche is slave labor paying slave wages and working insane hours.
btw, great thread guys. i have enjoyed hearing the different viewpoints without the mudslinging. granted waggie tried to go there....trendtrader stayed on subject and just reinforced his position. GOOD JOB..there is hope for ET after all.
=========== Trendfader i remember your nickname; Havent checked lately but Morgan Stanely some quarters makes more on Discover card division than trading /investment; thats why some give Rebecca[Becky] Quicks friend , a four legged dog ,a credit card. Actually, contrary to poplar belief $xau uptrends [gold & silver uptrends ] do NOT necessarily mean DIA, SPY, QQQ downtrends.
Bro... for what it's worth I've lost all respect for your desperation moves to enhance your obvious short positions. I've got friends with their retirements in stocks, and I have some also. Greedy short pr*cks like you and hedge fund hotshots make me p*ke. Let the so-called free market talk.... and shut the F up. It's going your way... so why not shut up and collect your dough! Please don't PM me anymore... got it! IcE p.s. I have lots of calls sold, and long puts also in an effort to outperform in these toughs markets. But overall... I'd rather see the USA economy get stronger not weaker. A concept you obviously can't understand
Anyone that profits on the short side has now become greedy or a prick? In this business u have know how to play both sides of the coin. Believe me when we are on the verge of starting a new bull market or some type of a major rally in specific sector I will be the first one here on ET making the bullish argument. Do you honestly think I am trying to convince people to short here on ET.. because they have the ability to move the market in my favor. One hedge fund can move the market more than every member here on ET combined. I dont think the really big players hang around ET reading how to trade stochastic pops with Jack Hershey and company... or find out how they can get cheaper commisions and bitch about their brokers. --MIKE
Trend, I'm interested in hearing how you determine that "smart money is unloading profits and shorting into strength." Do you use an indicator and if so, will you share it with us? DS
I live in NYC and I speak to a few hedge fund players... also if u look at volume dsitribution patterns like OBV, Oneil follow through days.. u will see the markets especially the nasdaq is very poor.