WED. 8/16 1:25pm Dow +60 The amazing Rennick has finished gazing into the mighty "Chrystal Ball" and will now speak: "After nailing yesterday's Monster rally and this Mornings very Flat post opening Market action, the mysterious Orb is now NEUTRAL and calling for continued FLAT Market action this afternoon. Rennick will go further out on a limb and predict (on his own) that the Dow will close up 48 points (give or take 12 pts.)" The Amazing Rennick has spoken Rennicks arms cross his powerful chest as with eyes closed he hover-glides out of a door the mystically shuts all by itself.
The "amazing" didn't do too hot this afternoon. Don't you think perhaps it's a little much to refer to yourself in like manner when in actuality all you are doing is passing on the signals from SOMEONE ELSES system/service ? This weeks expiration driven action should be over today. As long as "the boys" have accomplished their objective... Rennick-I'm glad u are making money and are enthusiastic,etc...but...
Actually the up 48 prediction was all mine, The call was FLAT which is another way to say don't trade. The Market was up 70% of it's total right in the opening 10 minutes, plus like you say its options ex. week which tend to stretch out moves when "the boys" are playing games. I'm glad I didn't trade today, it would have been a hard one to make money in. But before you keep getting your panties in a wad , think of me as a local weatherman putting my own spin on what the radar is saying. You stay close kid, I'm the sure you'll get the occasional chance to fire a rotten tomato my way That would be the Amazing Rennick out
Concur, One of the biggest lessons I've learned is knowing when NOT to trade. This is very important. I too am glad I didn't trade today. MS
fwiw: today was rather easy to trade eminis... in the afternoon session Gap-open sessions can resolve their morning action in seemingly endless ways. But gap-open afternoons are highly predictable. They either fail and give at least one solid reversal move (or more) like Monday did, or pull back and then continue the trend move into a final hour-push like Tue & Wed. Directional traders have the easy action past 1:00pm EST on gap-open sessions <i>more often than not.</i> In other words, the vast majority of gap sessions offer biggest and best swings in the final two hours of trading... once the morning gyrations have all sorted out. ** Given a choice to take new trade entries in any two-hour stretch of a day, I'd pick 1:00pm ~ 3:00pm EST for the rest of my career. Long the ES / ER today and held toward the close was yet another example of that. Best Trading Wishes Austin P
excellent thread. i've been really struggling lately trading nq and es --- I'd ideally like to enter once or twice a day, and get a good chunk out of the market. But I find that lately i'd probably be better off buying before market open, set a stop loss of maybe 5-10 points down, and just leaving it alone for the rest of the day. My mental stops are too tight, and I change directions way too much. I am going on vacation for a few weeks, so maybe I just need a break. before this week, it seemed so much easier - i was having a lot easier time riding the entire day without overtrading. Is it in my head, or am I just full of too many bad techniques?
Think it's rather unprofessional to view oneself in such an exalted manner when you are using anothers signals. Perhaps the amazing closingtrend.com service might be more appropriate Mr. Egotistical ! ( _ X _ ). LOL
Rennick has stated multiple times that 1) He is relaying calls from a service 2) He has permission to do so 3) He is adding his own spin on the calls when/where appropriate and most importantly 4) He is not allowed to post the name of the site as it is against ET policy. Hence the "Chrystal Ball" euphemism used throughout the thread and the multiple explanations for doing so I'm not sure what you're getting at?
Thanks Mo, I think the kid is just having fun being a wise guy on the internet. His old man ought to pop him in the back of the head for not having a job. Unless of course he's making money at trading, in which case he probably still needs a smack for being a snapperhead.