YEAH Voltaire - been waiting for the move for months now and finally today the gap seems to be closing. Bring it on I say
The whole system has got to be allowed to collapse before it can rebuild. History has proved that since time aeons ago.
Heli Ben's next stimulus package will not work - no more than the last one did. Australia is in a good postion but it is only relative to the rest of the world. If our export markets start to implode then what do we have to offer??? Absolutely nothing.
It will only make the whole system worse.
Look I just trade what I see before me - but look at it realistically - the trend is down with short term counter trends.
Sorry all you bulls.
Just take a look at the opening vol. this morning on the SPI. What a spike. short covering for sure but spikes are really dangerous whether they be on the top or the bottom. Yes it went up then down, then up all day.
You think it is the shorters being burned. Just think about it - they maybe shorted all the way down and were just closing out for a great profit. It does not mean they lost - it more than often means they won???? Get it???
They they rush in again and buy up big time on the low and ride the bugger all the way up and when all the bulls think they are going to miss out they pile in and the shorters sell to them again??????
Hello is anyone out there.
They are probably buying and selling from themselves and picking up the profit in between.
All I can say is - be careful.
I don't want to be a bear. I want the universe to prosper like you would not believe but you have got to see that the world economies are absolutely crap. There is no good news out there. Stimulus packages do not work. I'm going to stop right here.
Just read your charts, look at the support and resistance lines and work with your channels and make your decisions accordingly and do not be influenced by what others tell you like the likes of Craig James etc.
The charts never lie. Watch the vol. on lows and highs. This morning was a no brainer for the longs.
I have always lost when I have thought others knew more than me. Now that is not to say that I know more than anyone else ......all it says is that I deviated from my really simple plan and got dissuaded from following it by the thoughts of others.
Work out your plan, plan your trade and trade your plan.
The current trend is lower highs and lower lows. That is bearish.
From the 2007 high to the 2009 low we have retraced to the 50% level and we have FAILED. This is not a bullish chart.
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