You have to also remember that the market does not follow logic
and predictability to the day. If I had followed my gut
instinct months ago, I would have shorted and lost much more money
than one day where it gapped the wrong direction on Friday.
Also, one day does not make a reversal or a trend, so either follow
your strategy for trading to the tee here or wait on the sidelines
until a trend develops.
Geesh, some of you guys are unbelievable......Matt/Steve have
clearly stated what they expect and it is just sour grapes if you
didn't listen......I've been trying to short this market for a few
weeks and didn't listen to Matt/Steve........Had I listened I would
have been in a better position but like someone posted earlier I
may finally be right with my short positions.....or not.....I am
learning to take smaller and smaller positions as opposed to going
all in with one trades......spreads out risk for a swing trade
imo......cheers all.
It's still too early to make any definitive conclusions about
the market. Over the past 7 days the primary indexes have
experienced two markedly bearish sell offs BUT they managed to
recover and have yet to break down. The one thing that I've
stated recently is that the risk reward near these levels is not
something that I find attractive for swing longs (I have cited many
reasons including some above). However, that does not mean the
market cannot probe higher. As traders return to their desks
next week, we will see how they react to last weeks developments.
For now, I suggest we keep an open mind and focus on trading
the best setups.
The dollar is weak again tonight which is helping to lift the
futures higher - this has been pattern lately on Sunday
Evenings.
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You have to also remember
Your statement
Posted by jacob on 29th of Nov 2009 at 12:21 am
You have to also remember that the market does not follow logic and predictability to the day. If I had followed my gut instinct months ago, I would have shorted and lost much more money than one day where it gapped the wrong direction on Friday. Also, one day does not make a reversal or a trend, so either follow your strategy for trading to the tee here or wait on the sidelines until a trend develops.
Jacob
Geesh, some of you guys
Posted by bullau on 29th of Nov 2009 at 01:31 pm
Geesh, some of you guys are unbelievable......Matt/Steve have clearly stated what they expect and it is just sour grapes if you didn't listen......I've been trying to short this market for a few weeks and didn't listen to Matt/Steve........Had I listened I would have been in a better position but like someone posted earlier I may finally be right with my short positions.....or not.....I am learning to take smaller and smaller positions as opposed to going all in with one trades......spreads out risk for a swing trade imo......cheers all.
Can't wait for the weekend report.
Quick Comments
Posted by steve on 29th of Nov 2009 at 01:41 pm
It's still too early to make any definitive conclusions about the market. Over the past 7 days the primary indexes have experienced two markedly bearish sell offs BUT they managed to recover and have yet to break down. The one thing that I've stated recently is that the risk reward near these levels is not something that I find attractive for swing longs (I have cited many reasons including some above). However, that does not mean the market cannot probe higher. As traders return to their desks next week, we will see how they react to last weeks developments. For now, I suggest we keep an open mind and focus on trading the best setups.
The dollar is weak again tonight which is helping to lift the futures higher - this has been pattern lately on Sunday Evenings.