Today's action

Discussion in 'Trading' started by jerryz, Aug 8, 2006.

  1. jerryz


    shows why people say don't predict. first you have to predict the news correctly. even if you did that correctly, you still have to predict the market's response to the news correctly.

    today, the fed did not raise rates but the market is still going down.

    did anyone predict this in advance?
  2. It all depends on your time horizon, positions and outlook.

    Don't know if you know this or not, but the markets will be here tomorrow, next week, next month and next year. Today's action is but a grain of sand on the beach.
  3. It's actually even more complicated. Even if you correctly predicted a) the news, b) the market reaction to news, you would still probably be stopped out of the short position on the initial spike up that happened today before the big move down.
  4. ===================


    No but Bear Stearns sugested a bear move, before it happened[CNBC said] Seldom watch CNBC except fed rate times, premarket,/Rick Santelli ,Art Cashin

    SPY ,ES emini had & has had some nice bull & bear moves [past week,including today,] closed,regular market hours] below 5 day resistance:p
  5. everyone on et makes money up down or flat. there were so many jigs to crush a speculator today it ain't funny
  6. McCloud


    I second that!

    Today's winner: media!!..... for doing a great job creating suspense and anxiety among the "crowd" on such a "typical" event!!

    Interesting how many threads have been created on this in the past few days!! :eek:
  7. jerryz


    uh why do you seem to assume that i was adversely affected by today's action?

    don't know if you know this or not but the market was here yesterday, last week, last month, and last year.

  8. I have it on good authority that the market did not actually exist last year. In fact, neither did the good authority.
  9. It was easy enough to think that regardless of what the Fed did the market would tank, especially in the go flat senerio. No comes the economy slowdown and the shitty earnings next quarter, or two. Was it tradeable? Perhaps by those with more nerve than me. I always stand aside on days like today cause the whipsaws are just to much for me. I'm sure some gutsy traders made a ton.
    #10     Aug 8, 2006