Dow risen up over 1,000 points in 3weeks with barely a 35points pullback along that upmove!!! :eek: :eek: What the hell is behind this move??
Yes, the PD system exploited the underlying price drivers of this move awhile ago and is still riding higher-- http://www.elitetrader.com/vb/showthread.php?s=&threadid=247038&perpage=6&pagenumber=375
Anything that causes price to move. News, underlying demand, large players, govt intervention, then for the short term-- the book or DOM. surf
I learned a long time ago to stop asking why and just try to profit from the move. Whatever explanations we will find, most probably will be wrong anyway.
Yes, i had meant does anyone have any guesses on what the specific factors are taht are casuing this extreme strength in the dow TODAY though??
so how exactly did you profit as a trader? it's 6% move in 3 weeks without any pullbacks you can't profit as a trader here . 6 % is insane in3 weeks for any day trader you can just buy and hold but it's impossible to beat the index now
Let me state for the record that this is the best post I have seen in a long time. And incredibly true. And very relevant for any trader of any stripe - be it automated, point-and-click scalper, swing trader, whatever. I personally know some very, very wealthy traders who have no fucking clue why the market is behaving as it does. I would venture to say that most of the successful independent traders that I personally know of fall into this category. Their psyches and ego feedback mechanisms are so mature and refined that as long as they are making money they could care less. They are not market opinion narcissists. To them, the market is what the market is. My guess is that the few that watch CNBC do it for the "tail" and not the talking heads.