Feel free to tell that to Glenn Neely. http://www.safehaven.com/article/16...e-patterns-and-correlating-trading-strategies
Emotions can cloud judgement and prevent a trader from being creative because the mind can not allow normal thought to occur. Emotions over-ride logical thought. Trend reversals usually occur slowly, in stages as the underlying psychlogy shiftes gears. Why tie up you capital. Wait for the reversal.
technically, it depends on how it is broken. If it loses a minute each day but keeps moving, even less than twice a day.
I'm not a good wave counter. Prechter and Neely both seem to find a lot of wiggle room -- Neely is calling for more sideways than down. Interesting post at http://www.rangetraders.com/blog. I'm a cautious bull.
Ive called every major swing market turn since august. Every time Ive been told "the TREND is clearly ______" If buying in the direction of the trend was the only way to trade, who has been selling on every approach to dow 11k, over the last few weeks? Why, with JPM and GS buying in the SPX pit, all week, couldn't we print 11001 one time??? Exactly 2 weeks ago, i flipped from bullish to strongly bearish This was based on action in Bonds,Vix, Yen, and Dollar. Also, new certainty that Russian/China iran sanctions would pass (preventing a sudden Israeli strike on Iran). 20.00 dollars of every barrel of oil is from speculators betting on that airstrike!. This airstrike has pushed back to 2011 at the soonest. We didnât need Greece to implode, for a crash. As of tonight, bonds and yen futures should be gapping down. Theyâre not. Gold futures are only up 2 dollars over their high. Dollar index is refusing to break 80.00âafter many attempts. Iâm seeing many claims ofâ âThe short side is too crowded !!!!â http://tiny.cc/m79he Its not
I post my Calls on twitter, and stocktwits. I lurk on elite trader, and ticker forums. I always avoided posting on these 2 as much as possible.,for fear of being drawn into some kind of ego based flame war. And here i am defending my ego. Ironic. http://twitter.com/panamaorange
Please tell us all how it is that you KNOW with certainty that JPM and GS have been buying in the S&P pit. You act as if they are not working orders on behalf of customers, let alone are facilitating a large program order for them that necessitates hedging via S&P futures. Get real.