S/R Emini Journal

Betcha fifty cents it's going to the upside.

 

LOL...Looks like you might be right. I been typing and not watching. Not gonna be doing anymore trades today so I guess it doesn't matter though. Sure would help my options trade if we kept going down though.

 

If you are a volume watcher though it looks to be running out of steam right now. Don't know how much faith you can put in that though because all of a sudden a big buyer could come in and change the whole thing.

 

KISS ...

just wait a minute, there are plenty of ways to make that option trade profitable

 

Yep, I am weighted more on the call side anyway. They were cheaper.

I did see the crossover on the 20/60 MA. Maybe this will the upside Romik has been seeing and wanting to happen. If you are looking in here Romik, good call. Hope you make your steak money for the day.

 

Well it looks like we may have bounced off of resistance for now. Will it be up or down from here? Million dollar question...

 

Jimmy,
If I would have been looking at the 15 minute chart like I was supposed to I would have seen that the continuation pennant I was talking about earlier was to the upside ant down. I guess I was wanting to find a reason for it to go down sooooo bad for my option play that I was blind about what the chart was telling me. Live and learn I guess. That is why these type of forums are great.

Thanks,
4re

 

Yep

 

Here is a good tidbit of information. Some of it is no real surprise but some is kind of surprising.


More Rate Hikes Coming?




In a strange twist from just last month, USA Today reports that “a number of economists” expect the Fed to keep raising rates after it hikes its Fed funds rate to 5.25 percent this week.




The paper says that economists at UBS, Lehman Bros., and Bank of America think that the Fed will raise rates when it next meets in August and perhaps again before the year is out.




You’ll recall that in the beginning of June, there was widespread talk that the Fed would pause its rate cycle. But after several warning shots fired by Fed chair Ben Bernanke and co., talk has turned to how many rate hikes are left.




“There’s enough of a pickup going on (in inflation) that it’s a challenge to the Fed,” says Ethan Harris, Lehman Bros. chief U.S. economist to the paper. Harris thinks the Fed will hike rates two more times after Thursday’s decision.




According to a survey by the Bond Market Association taken from June 12-19, the median answer of 20 economists was that the Fed would raise rates once more by the end of 2006.

Some predicted that rates would go as high as 5.75 percent by the end of the year.



But there’s also talk that the Fed will go too far, and will have to make a big reversal next year.

A Reuters poll of 70 economists says that the economy will slow so much that the Fed will be forced to slash interest rates in 2007.



Stay tuned.


4re

Tomorrow could be interesting...

 

Relatively easy to slow the economy by restricting liquidity. Not so easy to go the other way. Just because the Fed increases liquidity doesn't mean people will take it.

That's why they call it 'pushing on a string.'

Anyone remember the names of the economists that Vic Sperandeo talks about in his first book? I want to say one of them was Dutch or German. I forget. Big believer in the Fed keeping their noses out of the markets.