I wonder if the geniuses who didn't even know that numbers were coming out at 10a, got lucky and pulled one out of their rearends by being short, would have been so quick to post their huge losses if numbers had come out surprisingly good and they had been on the wrong side of that whoosh. Hmmm, for some reason I doubt it.... Too many times I've seen a steady drift before numbers that turned out to be totally wrong, so I personally don't play then. While I miss moves like this morning I never care to be on the wrong side of one of those, been there done that.
09:00] <Brandon> aggressive traders could short the NQ in here This was about 20/30 seconds before the numbers came out. We where trading 80.5. To me it was fairly obvious that no matter what the numbers would be, the market was not going to respond well. Brandon
I learned when I first started out not to trade news or numbers, just trade the charts. The chart told me to short. The chart knows best.
I also felt that the expectation was way to high coming into todays numbers. I was very comfortable being short the ES today just before 10:00. I actually rarely enter trades just before news like this, but today I was ok with my entry.
Wow, incredible. How are those long picks doing? Anyway, I like the idea. Each day, you give a list of longs and shorts. Then, depending how the day goes, you post the list that works. Simply amazing!
To turn a phrase, that's ka-ka doo-doo. 85.0 was the consensus, the numbers came in a whopping 8.4 pts below that to produce the lowest Consumer Confidence numbers in 4 months. I can assure you that if the numbers had come in 8.4 pts above what was expected, to 93.4, then we would have had a screaming whoosh upward, and all the newbie traders like baggerlord wouldn't be proudly talking about "I just trade the charts..." But, then again, as I suggested in my last post, if he had a quick 15 pt loss we probably wouldn't know about it....
Well, given that the setups are above/below the prior days high/low BRCM is the only long trade that did setup (The Gap in CHINA nullified it). So, I would say fairly well. ET would be a lot better of a place if people knew what someone was doing before they started the slams and acting like assholes. But, thats just My Humble Opinion. Brandon
You probably would have, but as anyone who is in the room can attest I very rarely give buys or sells into numbers, but when I do I am right almost all the time. It only happens 8 or 9 times a year though. Brandon