weekend charting elevator week 7th may, page-14

Risk Management is more paramount in this times and for that reason I think its better to have a cool head and avoid the hype.

I have included the meaning of systemic risk below
In finance, systemic risk is the risk of collapse of an entire financial system or entire market, as opposed to risk associated with any one individual entity, group or component of a system.[1][2] It can be defined as "financial system instability, potentially catastrophic, caused or exacerbated by idiosyncratic events or conditions in financial intermediaries".[3] It refers to the risks imposed by interlinkages and interdependencies in a system or market, where the failure of a single entity or cluster of entities can cause a cascading failure, which could potentially bankrupt or bring down the entire system or market.[4] It is also sometimes erroneously referred to as "systematic risk".

http://en.wikipedia.org/wiki/Systemic_risk

Now the warning bells were there for this to occur, but that is little comfort to those who unfortunately were still in positions.
When ever this happens to me I just asses the trade Im in from where it is and then make the decisions.

I am not around much this weekend but will have a read Sunday night and if I see a chart that I can explain this method on I will.

Heres my decennial chart, and for those who dont understand, its the average of every year ending in 0 since 1930 and that gives me a road map guide to follow in the markets, its more of an overview, but very hadny to know.




The 2nd chart is relating to the square of 458 which always had a price of importance at 5038 and a date of 10 May 2010, when price was hit I acted upon it and thought, what if we get a low around 10 May. Now I sit back and wait for higher swing bottoms






Yesterday I spent some time in Brisbane at the Medina with 10 like mind traders, we watched and discussed the market and then went for lunch together.
There was no hype just good discussions and thoughts on trading in and out of this situations. Yet I looked through a lot of threads from yesterday and saw a totally different view, filled with hype of the situation.

Have a great weekend and just analyse your positions as you always do, the goal posts may have changed in the last week, but boring and cool heads prevail in this situations

I certainly don't give a rip what has happened, I like to get the plan ahead worked out

Have a great weekend all

Regards
Rob