LOL, then kill me softly, CF.. ROTFLMAO Thanks, still a long way to go, problem is I can't judge the energy of the session, might be that I aimed too low (21090, Fib 0% since 7/08, plus 20 pts), only to find that the move ran out of puff; well, HSI is having a 3% day, maybe it's just me, huh? Thanks for that, the initial bust did find support at 7/08 close, and I only realise that after letting it retrace, and it did retrace well, got ready to bail out; but kept reminding myself that the trade was going the same direction with the session, and decide to stay in, and go with another move to the low. If I could judge the energy of the session then I would get out on the first low; and save myself some white hairs The late session "continouation" (roughly 2/3 of the session time pasted), works the both ways, on a bullish session it behave the same, finding support to go for more. My guess is with local retails (biased to long), when the session is bullish, we get more mileage..
Nice one Will, I made a few this morning. Of course I happen to be still digging out of the HSI hell hole.......
Navy training. hmmmm, I was on a submarine. That qualifies me as being crazy. Thats how I can do it,,....by being nuts
Will, 700 point drop, I haven't been watching it that long but that seems like a huge drop. Whats your thoughts?
700pt is for sure a nice move for HSI, especially in Summer... BTW, Will, how much of this chunk you've got today?
Reason, On TA side, it's just an continue move on the downward channel since early May. It drops that hard, I guess it's to kill the resent aggressivness On the fundamental side, I think the economy is going down to hell (IMHO); Fed, ECB and Finanicals start to run out of lies, so we might be seeing some hard times to come. Also China ended the resent bounce off support last week, with their major banking stocks listed on HKEX, and especially 2 on the HSI and 1 on the HHI, it's just right. On the peak last year, they were valued like Jap banks in the 80s (ie P/E >60)