I learned more more in the last three days about crowd psychology, the way the markets react to news, the time it takes traders to react to news and how it plays out, and how a market trades STRICTLY on news, than I have ever learned about anything else in trading. Truly educational. Next time a market like this one comes along, I am going to clean up. I can't wait. nitro
I don't think we get these markets often enough to draw any real conclusions about crowd psychology, but I wish we did. We had an event that was worldwide in scope and attention with immediate feedback and progress reporting. For the last few weeks, when the tick passed the 4 digit mark or the ES popped 5 - 7 handles, all you had to do was turn on CNN to find out why. This was easy to read, and far too uncommon. How many times, before the war, had the Dow moved 100 pts in 15 minutes and we had no idea why til hours later, if then? Even then, the media randomly assigns catalysts to market movements. They have to blame the movement on something every single day no matter how small the move.
ktm, I agree with your assesment for the most part - these are once in a decade events. However, I am in no hurry. As far as what the media says about a 100 point DOW move, I don't watch TV while I am trading (I did during the gulf II war,) as I have a spoos squawk running at all times, and having the volume on for both at the same time would probably drive even me crazy. nitro
Ebo, The one that David posted above is good. Some prefer (others hate) http://www.xsquawk.com. They both have free trials. nitro