Discussion in 'Chit Chat' started by sub0, Oct 22, 2009.
What the hell happened today!
The title is sarcasm, right?
We be traders! Just go with the flow!
LOL. of course it's manipulated.
what does "go with the flow mean?"
oh, so go with the "trend"?
if u really knew what the future trend was you would be rich and not posting on this board. that's like saying "go with the institutional traders and get in after them and out right before them." it's stupid talk
i make very little trading...i just do it part time.
of course big firms can push the market around and create so much "noise" that retailers generally get whipped out.
that is their business model
and they are obviously better at it than us.
deep pockets is key.
No question about manipulation. Look at WFC, the cause for the huge drop yesterday and now over $30. The same analyst said that WFC and MS announced good earning and later said to sell WFC.
The only way for them to steal shares (stop orders) is to say nasty things.
To me, most of the earnig reports were very good. Many beat handily. If things are so so bad there is no ways earnings could be this good. GOOG PNC COF AMZN AAPL JCG EW FCX ..stocks from all sectors.
So many big guys with big money know how to manipulate.
Just buy low on stocks with good fundamentals and we will make money. Just don't buy high and sell low on panicking....
Surely you did not think we are all Sunday School Teachers.
No doji says go with the flow? tell me no doji what was the flow today and when did you detect it?i know some very good traders today that lost 50k plus shorting the first few hrs as it sure looked like we'd fall back down especially after that wicked reversal yesterday setup up a very bearish chart pattern. it easy to look in the rear view mirrior. AS FAR AS GOOD EARNINGS YOU MIGHT NEED SOME FACTS. YES APPLE,GOOG AND A FEW OTHERS HAD SOME GOOD #'S. BUT THE VAST MAJORITY OF EARNINGS ARE DOWN SUBSTANTIALLY YEAR OVER YEAR AND REV'S A DISASTER. you're being taken in by the hype. the avg earnings down 20% and the avg rev's down 15% so far this qtr. if thats good ok
AmEx reports 22 percent decline in 3Q profit
Dow cuts costs and turns profit; outlook cautious
MMM EARNINGS AND REV'S DOWN 10%
COFS EARNINGS DOWN 20%
Right about 12:30 was pretty bad news for shorts.
If you were watching EURUSD (and we all know the mkt is being driven up by a falling dollar) it was itching to explode upward all day and finally did so at 2pm.
As a general matter, everybody should know by now that shorting this market without a close stop (or God forbid without any stop at all) is suicide.
Same thing that's been happening for the past seven months - going on eight months now.
I was testing my ATS all morning, so I wasn't watching the market, but it looks like the first half hour was a reasonable move to the short side.
Losing $50K isn't a problem if your average win is $100K or better, so I've no idea in isolation if the person(s) you're referring to simply got stopped out of a trade per their pre-trade plan, or if that was someone who let a winner turn into a loser and then was unable to give up until the pain became too intense.
I'm very much a beginner and I struggle daily with too much hesitation in trading my setups, because I tend to have a bias. So going with the flow is something I've been working on a lot.
Fortunately the ATS in development is basically me without those nasty discretionary habits such as missing opportunities and cutting winners short.
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