Why are you playing technicals, when the whole market movement is fundamentals (news) related? P.S.: I apologize for making sense...
There is text floating around that this Debt-Ceiling compromise is a "big win" for the president and the democrats. Not in ten thousand years. I can tell you that for every democrat in existence, that there is no taxing of people that make huge amounts of money, is probably the number one thing that gets their blood boiling. I say, raise EVERYONE's taxes 1%, no loopholes, no nothing. 1% !!!! If we had gotten the deal we have now, with that tax raise, it would have not just been a win for the president and the democrats, it would have been the only sensible way to achieve a reduction of the debt without adversely affecting economic output, growth, and jobs. I know tea-party and reps will say, "not another dime out of my pocket to pay for more inane social programs". But if you cut social programs and raise taxes, the money raised from taxes perforce will be used to reduce debt and other constructive purposes. Besides, I don't understand why there can't be a clause that says that money will be used to build infrastructure, education, reduce the debt, etc. In any event, mark my words, it is a matter of time before higher taxes happens, and on the way the stubbornness will only cause more harm then good if we just realized that there is only one medicine that fixes our ailments. We are moved to action only from great pain or great love. It is the human condition.
From fundamental (xFV) trader to technical analyst to psychologist, to philosopher.... I guess you have all the bases covered!
Nitro, would you back a bad trader? With your money, your life savings, with everything you have, would you back a bad trader? Simple question...yes or no. If I gave you a guy that has lost money every year for let's say, 50 years. Would you back him?
I would. That guy is a goldmine. A CONSISTENT loser is a reverse trader's wet dream. Are we talking about Nitro??? He should have taken a vacation until this debt business gets solved. There is no point in messing with TA, when the news dominates the market....