the market will open big because of Gustav but we all know the s&p is trading at 25 times earnngs and the street will sell this rally. market is'nt in the basement because of Gustav so it ain't gonna sustain a rally because of Gustav. short the strength....
It was a nice call and also reinforces a BAD habit, which is trying to guess what will happen. If you can do this everyday, I will retract my statement. On a similar note, I noticed that the Vix was only very slightly down while the market (ES) was up 20pts. I thought this was very strange, Vix should have been down much more. Anyways, market did come in a lot. The world makes sense again
i only make those calls when its obvious to me,which is maybe once or twice a month. as far as individual stocks,i am much better and usually pick one or two pre-mkt and go with one or perhaps both and get out very quickly and then shut down my computer. otherwise i sit patiently for a set up and if i see nothing, i simply DON'T TRADE...
very correct, ny hood is astute you can't predict EVERYDAYS price action but some days price action are very pattern like, so it rings a bell instantly.
remember the most important thing i said: :i sometimes sit patiently for a set up and if i see nothing,i simply don't trade". damn it, thats discipline........seriously,thats what i do.