You don't need me giving you the whole story of today, you saw it happen. Some support levels fell to levels which may lead us to lower prices, my guess maybe to 10K Dow
Surely a 90% downside volume day, they are getting closer together.
My Bear bottom indicator fell to 37.62. VIX SOARED to over 31, another spike could lead to better chance of rally attempt.
I suspect FED will try something tomorrow, after which I will reasess, or if downer follow thru in AM
Long day for me, that's all I got. I hope I was able to save even one person from taking any huge hits here, my blog now 4.5 yrs old....and that Head and SHoulders pattern did as I suspected no?
D
Subscribe to:
Post Comments (Atom)
6 comments:
ROSY, I HOPE YOU MADE MONEY TODAY, THERE WERE OPPORTUNITIES ON BOTH THE LONG AND SHORT SIDE OF THE MARKET, WHEN IT LOOKED LIKE YOUR HEAD AND SHOULDERS WASNT ATTRACTING FOLLOW THROUGH ON THE DOWN SIDE, LONGS UP TO YESTERDAYS RESISTANCE AREA AT THE 1240 AREA WORKED WONDERFUL, AN HOUR LATTER WHEN THERE WAS NO FOLLOW THROUGH TO THE UPSIDE, OFFERED SHORTS, VALIDATING YOU HEAD AND SHOULDER PATTERN, IT IS ALL ABOUT FLEXIBILITY, AND READING THE TAPE. YOU HAVE TO BE WILLING TO BE WRONG ON ANY INTIAL OR ONGOING DECISION MAKING PROCESS. NOT A NATURAL INCLINATION FOR SURE, BUT VITAL IF ONE IS GOING TO SURVIVE IN THIS BUSINESS, YOU CAN SEE THAT IN THE STYLE OF TRADING THAT I DO, ARE YOU STILL IN PAL?
Steve, you are missing the point entirely....your question asked should be am I insolated from this bloodbath, have I done well in protecting my assets?
IT isnt always about MAKING money...HOW BAD DOES CASH LOOK WITH DEFLATION ALL AROUND?
WELL YOU TELL ME? WHAT YOUR GOALS? WHY TALK ABOUT TA, IF YOUR NOT GOING TO TRADE? IF YOU CANT TAKE A TRADE BASED ON YOUR OWN TA BEFORE THE OUTCOME OCCURS, IS YOUR TA WORTH ANYTHING? IT IS NOT ABOUT PROTECTING YOUR DOLLARS, ITS NOT ABOUT MAKING MONEY, IT IS ABOUT EXECUTION.
SKK,
My blog isnt about ME or YOU, there all kinds of readers on my blog so cover lots of dif topics and when I talk about TA its not for someone who makes tons of trade per day, they dont need me....there are tons of people who with a little help get the bigger picture and do not mock TA at times that is all you have.
When you actually put money where your mouth is...let me know
My prediction is NO matter how hard you try, you cannot simulate how you will react when REAL money is being used....for now, please dont critisize me for experiencing the mkt in my own terms as well as protecting the money I already have!
Ruseel of 83 yrs old has always said "in abear mkt, everyone loses, the winners are those who lose the least"
D
BEEN THERE DONE THAT ROSY, YOU DONT GET IT, ITS NOT ABOUT THE MONEY, WILL THERE BE SLIPPAGE? ABSOLULTY, IF YOU DONT THINK THAT WHAT I DO IS CRITICAL, I DONT KNOW WHAT TO TELL YOU, OTHER THEN YOU WILL HAVE TO FIND YOUR OWN PATH, AND PAY EXPENSIVE DUES AS HAVE I, IF YOU DONT SIMULATE AFTER THE GREAT ADIVSE OF PEOPLE LIKE DR BRETT, YOU ARE IN FOR A RUDE AWAKENING, BEEN THERE AND ALSO DONE THAT, REMEBER, I WAS PUTTING MY MONEY WHERE MY MOUTH WAS BEFORE YOU EVEN KNEW WHAT FUTURES OR TA WAS. END OF DISCUSSION. GOOD TRADING TO YOU.
I AM SORRY ROSY, DIDNT MEAN TO CRITIZE YOU, PLEASE DONT LOOK AT IT THAT WAY, JUST TRYING TO SHARE MY EXPERIENCES, AS I HAVE BEEN TRADING REAL MONEY FOR MANY YRS. THIS BUSINESS REQUIRES CONSTANT LEARING AND REINFORCMENT OF PHYSCOLOGY ON A DALIY BASIS, AND I MEAN DAILY IF NOT HOUR OR MINUTE BY MINUTE. KEEP UP YOUR GOOD WORK AS WILL , AND WE WILL BOTH SUCCEED! SSK
Post a Comment