Goodmorning guys, anybody got their ears on? No that's CB talk, this is the internet. This market is pissing me off as usual. We make a lower low, lower high and I'm thinkin sell and dang we get a good break down the reverse. Bottom at 795.50. We're right back to where the market broke out this morning. Did we make a top or just expanding a consoldation near the top? The last two times the market hit this level it reverse quickly, but not this time! We had a down trend for about an hour is all. Screw the Bulls. Maybe I am biased in my trading I'm sellin 800
I couldn't take 2points on that last move! 9:25cst. I guess I'm still trying to read the market. Considering the couple of days I only tood 5 ticks. I have to feel this out for quite some time.
Jack Hershey taught me no "bias". Were only in a trade for a few minutes anyway. I just caught the trade on the (YM) from 12570 to 12595 when I bailed out. ( Fast 25 points or $125.00). So I can go home now. snarlyjack
I totality agree with you!!! Going "bullish" or long is very hard for me, cause I am a "bear" at heart. I don't trust the economy or the stock market. But, I watch it very closely and if it even starts to wiggle weird I get out. If I was a "Bull" now, I'd buy a Harley Motorcycle. But I am a "Bear" and chicken of the payments. So I told myself I am going to have to make the money the old fashioned way. I'll trade the heck out of the market. snarlyjack
Well I faded 800 at 11:00 and that worked out well. We made a little double top too. Lookin for more short action, my favorite! I gotta loose the bias! But not right this moment. Fed announcement soon. CNBC has been saying no rate changes. Anything other than that would be news. Does anybody trade the moments after an anouncement? Maybe a pop up when the no rate change is confirmed? We shall see.
Remember ! Section 3:16 of verse 9 of subchapter 5 of the "good book" states that " Thou should be careful on FOMC days"!
And it came to pass on the day so prophesied that all was peaceful until Bernake didst spake... and then did the chosen ones witness a writhing of limbs and gnashing of teeth not seen since the days of Methusaspan