There being an FO Mockit C meeting today, my unconscious subconscious found itself singing Gilbert and Sullivan in the shower: "Big black block! Short sharp shock!" ("The Mikado") That immediately reminded me of John Adams' "The Chairman Dances" from "Nixon in China". Fancy Greenspun dancing!
Most if not all are experiments. Are you really studying Jack's method like others of his followers do? Couldn't believe it. Otherwise, how do you know his method doesn't work? Probably the whole game would be if you tell a very large number of people something as ambiguous as possible, particularly in this industry, "There is always someone among all learners would find (or make) it works pretty well for a certain period of time." Of course, you know statistics better than I do.
Odd. I am a decrepit senile garrulous old man, not unlike Jack, only 13 years younger. Therefore I don't know anything you don't know. I published my travels with Jack last year here under several of my sixteen other aliases. I discovered what worked (at least for me) and improved it for NQ trading. That is why you will see me simultaneously praise and calumniate him. I encourage other gullible people to take that ride because I do so love watching people fall off of bucking broncos.
patients my friend, patients. What every "they" are planning to do with the market can not fully change the path of our precious Gold positions. Just ignore it and relax, buy more at the lower price!!!!! If you make it to 2017 you will be a happy man.
Well, well, what have we here? A double toppy in the oil daily, AND a double toppy in the price of oil per ounce of gold. Does it mean anything? If I think so, probably not. On a personal note, I just spent nine days in a trendy bar in Tribecca, eavesdropping on the conversations of supposedly hot-shot traders in Manhattan. Not to worry, amateurs. The pros aren't such hot stuff. Most of what I heard was how cold their wives are, how great boinking their mistresses is, and how they're agonizing about moving out of the city, or back in. I hope their pocketbooks are inflated, because their egos certainly were. I myself am back to scalping oil plays for the odd tick for a few days.
Just so you'll know SOMEBODY on ET actually TRADES (we SO rarely see execution reports), here's one for a cowardly little scalp of NQ based on QM action. I worked double shifts for ten days assuring that America stays rich, and now I am drunking it off. That little scalp paid for today's White Star.
Would someone please 'splain to a simple country boy why rates went UP when oil went DOWN? I dropped out of ECON 101 when I got to the random walk theory. I may be a drunk, but I know that the markets aren't.
Someone explained it this simplistic way for short term intraday trading, as a rule of thumb only. If the market goes up strong, money supposedly flows from the bonds (bond sell off) into the market as the preferred investment. When bonds are strong, the reverse is true and the market sells off. Interest rates being inverse to the price of bonds, when the market goes up, interest rates likely rally and bond prices fall. Recently, the market has been keyed on the price of oil, so when the the price of oil dropped today, the market went up. As a result, supposedly money then flows from the bond market (a sell off in the price of bonds) into the market and results in a small increase in the interest rates. Which occurs first is the chicken or the egg question. But today it appears the catalyst was the drop in oil prices I'd be interested in hearing from some Econ experts with a better explanation.
Kow. OMG! I asked a silly question and got a serious answer! OK, so it works that way intraday, but fundamentally in the long term lower priced oil should mean lower inflation, an improved current account, a healthier domestic economy (as long as it is south of inflationary), and lower rates. Where does the crossover occur between funds flow and fundamentals? Of course it is all academic to me, as my ADD perspective is minutes, as you can see from the scalp I posted. When you are a dying man, your perspective becomes Keynesian and there is no long run.