Aside from the economic numbers, a lot of small hedge funds need to mark to market their trades on month end for profit cuts, etc. Thus they will be very protective on their open positions if they have made enough money for the month. Just part of the market dynamics to consider
This baggerlord must be a freakin' genius. About a month ago he was a beginning trader and kissin' JR's butt for sharing his setup. A couple of weeks later he's managed to trade breakouts, retracements, v-reversals and S/R pivots. Well, that covers about every move you can think of. Great job! we'd better listen to what this guy has to say, because he's on his way to fame and fortune.
Look, I know I am new. But I am also consistantly making money in what everyone is saying are very difficult market conditions. I don't claim to be a genius, or even smart, but I can follow directions. All I am doing is using what I have learned on this message board. You bet I was kissing JR's ass, the guy had a major role in turning me from a guy that was blowing out his account over and over into a guy making 2k+ a month off one contract. His method is pretty simple and pretty damn effective. Don't you think just maybe it is possible for a new guy to become a decent trader pretty quick when he has the experience of lots of people to learn from? I have spent at least 6 hours a day for the last few months doing nothing but studying charts, reading books, and studying the methods of others. That is outside of the trading I have done. I have also been working 50-60 hours a week to finance my losses, but this is no longer an issue so I dropped one of the jobs. You guys can kiss my ass and call me a newB all day long, but the bottom line is I am making money, and it is because I have put in the time.
Another reason I am ahead of the curve(at least I think I am). You may remember a month or so ago I posted that I would exchange trading lessons for chess lessons. The response from that was very positive. I received insights into the methods of 6 different traders, all of whom seemed to be pretty good. A few of them chatted with me and told me their trades in real time. Very enlightening...