http://www.elitetrader.com/vb/showthread.php?s=&threadid=64965&perpage=6&pagenumber=2939 like I said shorts better cover the Feds going to intervene again, then its curtains. blackguard
there very well could be & that`s why i`m trading the short side evenhtough the current trend seems to be up. key dates i`ll be trading around & up to are: 8/28 fomc minutes 9/5 beige book 9/18 policy statement feds in a tight spot & trying to create the hope of a cut out of thin air,just like they do dollars....i`m just not buying it.the fed is terrified of stagflation....hi inflation/no growth....at least they better be because that should be their primary concern which is to fight inflation & support the US$....not lenders,hedgies,banks & stock market investors & i feel they are doing a mojor injustice to many by being so called saviors. obviously i don`t know when or if they`ll rip it & spread it down but i`d like to have a piece of it when they do.small size until i see a blow off top/gap set up to sell into. looks like i missed my gtc sell at 69.75 by a tic.
It was a classic 61.8% fib retrace vertigo3, sorry, I was too busy sitting in my trade to reply to you earlier. Good trading,
market is looking like it has gap like tendencies fo tomorrow to the upside......i`m cancelling my sells & am looking for 80 as a reaction point.....that will be the line in the sand.....intermediate term for me.
How did everyone feel about the reads on price action, it seemed to correlate well on the outcome. Reading price action on multiple screens and windows gets mentally fatiguing after a few hours. I love doing this so much, I forget to sleep well and only call it quits when I start falling asleep at the screens or wife tells me shes going to smash the screens. Anyways I hope everyone fared well. It was evident that early on, there was a player breaking stops and then filling size. But once the Banks using the discount windows news came out, this player seemed unsure of what to do, but gained composure, after looking at the other macro markets, which didn't indicate implied selling pressure. Chris
...agreed, thanks to everyone ... I have been away from the computer for a few days is apex82 on vacation?