Thought I'd chime in after a few drinks...family occasion and all. Alcohol is good for you -- you feel smart because it kills all the weak brain cells and leaves the good ones to do the thinking. Makes sense really - especially after a few drinks.
Helen Back!?
One of my favourite Young Ones episodes - ah such times, but tell you what I'm really missing.
The up market.
I'm long only, and the down market doesn't affect me too much since I'm mainly DTing. Down markets are just as good as up - I trade right? It's what I do. The fundamental income equation for the year, for the trade, is $ divided by time. And counter trend moves are fast. Instant gratification. Like sex. Or cooking food. A puttanesca trade if you will - cheap quick and tasty.
Down markets are just as good as up. Better for me because the counter trend is to the long side. What cheeses me off is the peurile vituperation that seeks to become the fabric of the thread ( like the reverse metaphor?). And schadenfreude is ugly at the best of times. What is it about a down market which encourages it's expression?
Economic conditions haven't improved since the 2009. Really. And since then, world governments (ie the US) have committed polical and financial atrocities which have undermined the principles of both capitalism and democracy. And the correlation twixt that and the XJO? 3200 --> 6000. Go figure.
And the repetition. Oh Buddha! What a bore!
And how are you shorting this market? If you believe its the end of the world, what shorting opportunities are open to you?
The powers that be will ban the short trade on stocks. CFDs represent the utlimate counterparty risk. And with futures the "segregated account" is not just a misnomer - it borders on fraud.
I rave.
Quickly
Yearly Highs and Lows
Remaining below zero indicating further downside. I'm think that the late August lwo will be tested at some point.
Candles
Bearish Engulfing. Range and volume as per Jakos analysis. Nothing to add there. Any pretensions of a doji reversal or inverted hammer-like candle recently have been canned by todays action.
RSI
Continues down after the recent break of Trend line. Small move today though.
Strength by Rels.
Interesting to see the XEC and XSO so high in the mix. Usually this is a signal of risk-on, though recently, this has toggled from day to day, and this is a characteristic of triangle type formations in the XJO. Having said that, XGD and XUJ are high in the mix too. Signs of risk off trading. No great surprise, the market is directionless- but it's possible to game it. Won't be capitulation until we get runs of risk off.
As I write Europe is mainly red, but greening, and the US futures is midly red.
Lets avoid the repetions eh? I like this game because, on a daily basis. it avoids the same old same old, vieux meme, vieux meme of a normal job.
For madmen only....carrying from Vyvians theme with the cricket bat @Trees
(20min delay)