Here is another train wreck floating out there in the macro, is there any room in maiden lane for our friends across the pond http://finance.yahoo.com/q/bc?s=AIB&t=6m&l=on&z=l&q=l&c=
Good to see you are still with us...thought you might have cried 'uncle'....or you not fully loaded? NiN
Small loss for the day of .75. I got in a little late long, the market did not seem to want to go up any further, so I rather take the loss now then let it hit my stop.
Are speeches like this one ever streamed online? I was aware of the speech thanks to the economic calendar at Bloomberg, but I did not know where to tune in if I would actually watch it. Thanks!
ammo tends to be a bit early -- which is probably one of the reasons he gravitated to the style of trading he uses. IMO we are just beginning to work through a topping pattern - so he may have to deal with another higher high or two. Next week's jobless claims might be the spark for a pullback. Companies don't like to fire during the holidays because it hurts morale of the remaining workforce -- so any company with plans to fire this quarter is doing it now or has already done it and it hasn't shown up in the data yet. Edit: another reason is to get the people off the books before all the paid holidays kick in.
I haven't dropped in on this thread for a while, but the market appears dead now, so here's my two cents. I find Ammo to be one of the most disciplined professional traders I've ever been privileged to follow. His trading isn't random, nor is his risk management. He's demonstrated here that he knows when to cut 'em loose quickly. Just when I believe I've mastered patience and discipline over a long stretch, I have a day like today with way too many (non)trades, chopped to death switching time frames, missing the big picture as a result, unable to shift gears and let price tell me the tale, one mistake after another and now sitting on a losing day for no valid reason other than the human factor: me. One place where my discipline remained fully intact, though, was risk management. It was impeccable and it limited the loss to -$250, just a cost of doing business (badly ).