Even Waggie will disagree with you on this. We both believe markets chop around prior to major economic reports.. especially fed meetings, unemployment, and inflation data. To say that fundies dont matter at all.. is very short sighted. I am not even gonna debate this because its idiotic. Regarding saying that I dont trade... i can easily put that issue to rest. PM me your email and I will email u a snapshot of my trades today. --MIKE
When good news is bad news and bad news is bad news, it means the market is NOT trading on the news released. Anybody with a brain knows that inflation has been alive and well regardless of the doctored numbers. Same thing for jobs. I NEVER stated that the fundamentals do not matter. Can't you read? I would want to see the REAL fundamentals improve before this market can go up. Like the job picture really improving, the heavily debt load decreased, savings going up and the consumption on credit cards seriously curbed. I'm stating that the released economic reports and the earnings are not real fundamentals looked at by the market. Noone really believes them and it seems to be all cheap money effects. Todays inflation report is probably the first time the truth about rising prices has finally somewhat surfaced. And what, this was a horrible trading day without any real direction or volume.
MECRO now that u recieved my trade log for the YM.. I hope u and Waggie stop bashing me about not really trading. I never stated on ET that I do huge size (millions) and I always acknowledged that although I consider myself a fulll time professional trader... I am no where near super trader.. or guru. --MIKE
For someone that is on record as having stated that they do not use "cute little charts" . . . I find it interesting that all Trend Fader talks about these days are the 200 day and 50 day moving averages, as if he just finally discovered these most "watched" technical indicators. Go figure. :eek:
Before this, all he talked about was the VIX. Nowadays, you never even hear a peep out of him about the VIX. What will it be next month? NYSE Member Short Sales? CBOE Put/Call Ratio? Who knows. Who cares.
Dude the VIX is my favorite indicator and u have to learn how to use it properly. Just using it the way u do.. is nonsense. Read up on Larry Connors and his methods. Waggie just to make u look like a dumbass yet again.. I have a funny factoid to share with ET. On 4/23 Vix hit new multi year lows.. and according to Connors methods was at super extreme levels firing all sorts of short signals. 2 days later on 4/27 Waggie starts this thread about some economic data and starts hyping.. ra ra ra about how the numbers are so great... http://www.elitetrader.com/vb/showt...=31883&perpage=6&highlight=idiot&pagenumber=1 Following this.. less than 10 days later dow drops over 500 points. Enough said! --MIKE