normally these huge down opens start a new trend upward.Im talking a longer term trend like 6 months to 2 years. however, they cant be bought on the first few days. we may go down 1% or so to shake some more people out, but those of you looking for a crash are misguided. just a thought blackguard
sentiment is becoming locked... very early..in the session.. AIG news....spreading to prime mortgages.. multiple salvos of negative news..
this environment ,lately, conditions one to always buy the dip of some sort............until it stops working. i was going to post this last night & should have being that it looks like i`m jumping on the band wagon.....not so. this problem is much deeper than a couple of European banks......this game is so full of lies until it starts leaking from the woodwork.some people don`t understand what LTCM was capable of doing & how it would have crippled our economy until a complicated bailout was orchestrated & almost did`nt happen......& that was one hedge fund.
The markets have been giving very clear bias signals the last few days. By entering trades only in the direction of the larger frames, one would be doing very well indeed. I hope that folks have been able to let their profits run during each trade or at least have expanded their profit targets. --On a side note, I have not found the place to get long positionally yet, so I remain on the sidelines for position trading. --Good trading to all!--Please use close stops (outside the noise) and let those trades run to maturity! Day traders paradise right now. If you can't make money during these times,it may be time to change professions.
Just out of curiosity that entry seems to be in the middle of nowhere, just below yesterdays lows and the middle of the pivots? What you seeing?