Tonight's newsletter you say 'the market is starting to get tired
and may need a rest'.
Why does a manipulated market with 29 up Mondays(statistically
isn't that telling) need a rest
or do you believe this is actually a free and fair market and so
just needs a breather?I think
the answer to this question is very important.
If it is manipulated then really no reason to take a breather.A
breather would give the shorts opportunity to cover which doesn't
seem to be the name of the game here .
The Daily RSI (see daily SPX chart below)is telling us that the
market is tiring as it is now diverging from price. The SPX
"may" be carving out an ending diagonal (see 15 minute chart
below).
All I said was that the market was getting tired, that's it,
don't over think things and get too into conspiracies. OK so let's
use the logic that the market is manipulated, even manipulated
markets take a breather. The pullback from Jan - early
Feb was just over 100 SPX points from 1150 - 1045, that was a
pretty good and hard fast pullback - that wasn't a tiny
pullback. Just because a market may be manipulated doesn't
mean it can't pullback.
Anyway, the market still has a good chance at going up to 1225 -
1230 unless it breaks some major supports. My comment last
night was just pointing out the obvious, the market is not running
away right now and Longs are not running away either, they are
giving good day trades but many are not following through well, was
just an observation.
the fact that my simple statement of saying that the market is
getting tired caused such a stir still shows much much emotion
there is on this board about the market. Be like Spock from
Star Track, suppress that emotion :)
?? Trade and don't over think it, when you get a nice
move, take profits, don't' get greedy, be disciplined. The
market has been very profitable the last 2 months by playing
breakouts and taking profits and moving on to the next one -
rinse/wash/repeat. When the 60 min index charts are oversold via
stochastics you can keep runners for longer, when stochastics are
overbought, take profits more quickly etc.
cut the emotion
out, too much emotion here, we need more Vulcan's here from
Star Trek
As bears have been inticed by drops, to place more capital at
risk, I think a correction /breather would not give bears a chance
to "cover" but embolden bears to increase their bets and leverage
(probably me too), just saying.
Matt/Steve ,others ..all thoughts welcome..
Posted by hurricanemalta on 27th of Apr 2010 at 04:07 am
Tonight's newsletter you say 'the market is starting to get tired and may need a rest'.
Why does a manipulated market with 29 up Mondays(statistically isn't that telling) need a rest
or do you believe this is actually a free and fair market and so just needs a breather?I think
the answer to this question is very important.
If it is manipulated then really no reason to take a breather.A breather would give the shorts opportunity to cover which doesn't seem to be the name of the game here .
All thoughts welcome.
that's why I made the
Posted by matt on 27th of Apr 2010 at 11:37 am
that's why I made the comment about the market getting tired in last nights newsletter, so you can see why today.
hurricanemalta: The Daily RSI (see daily
Posted by steve on 27th of Apr 2010 at 09:37 am
hurricanemalta:
The Daily RSI (see daily SPX chart below)is telling us that the market is tiring as it is now diverging from price. The SPX "may" be carving out an ending diagonal (see 15 minute chart below).
All I said was that
Posted by matt on 27th of Apr 2010 at 09:21 am
All I said was that the market was getting tired, that's it, don't over think things and get too into conspiracies. OK so let's use the logic that the market is manipulated, even manipulated markets take a breather. The pullback from Jan - early Feb was just over 100 SPX points from 1150 - 1045, that was a pretty good and hard fast pullback - that wasn't a tiny pullback. Just because a market may be manipulated doesn't mean it can't pullback.
Anyway, the market still has a good chance at going up to 1225 - 1230 unless it breaks some major supports. My comment last night was just pointing out the obvious, the market is not running away right now and Longs are not running away either, they are giving good day trades but many are not following through well, was just an observation.
the fact that my simple statement of saying that the market is getting tired caused such a stir still shows much much emotion there is on this board about the market. Be like Spock from Star Track, suppress that emotion :)
so how do we make
Posted by 11111 on 27th of Apr 2010 at 09:26 am
so how do we make money?
?? Trade and don't over
Posted by matt on 27th of Apr 2010 at 09:36 am
?? Trade and don't over think it, when you get a nice move, take profits, don't' get greedy, be disciplined. The market has been very profitable the last 2 months by playing breakouts and taking profits and moving on to the next one - rinse/wash/repeat. When the 60 min index charts are oversold via stochastics you can keep runners for longer, when stochastics are overbought, take profits more quickly etc.
cut the emotion out, too much emotion here, we need more Vulcan's here from Star Trek
As bears have been inticed
Posted by steveo on 27th of Apr 2010 at 04:46 am
As bears have been inticed by drops, to place more capital at risk, I think a correction /breather would not give bears a chance to "cover" but embolden bears to increase their bets and leverage (probably me too), just saying.
Hi Steveo..I get your logic..entice them to bet AGAIN and then force them to cover later at a NEW HIGH..lol!
Posted by hurricanemalta on 27th of Apr 2010 at 04:52 am
Title: Manipulated? Of course it's manipulated.
Posted by brophy on 27th of Apr 2010 at 07:00 am
Of course it's manipulated. Always has been.
It doesn't mean you can't make money...But who is "they" or "them"?