I’m wary of going long on any close lower than 210.94 here. We may see a leg right back up just like we had on 07/08. But then, price has broken the support it has been finding on the 144 EMA (211.22) we have a bearish Tenkan/Kijun cross on this candle, and price has dropped substantially below the kumo.
The next few hours will confirm or negate the drop (keeping in mind we’re going into the weekend), and we do have support @ 210.25, however. I’m sure if Elijah we’re here he’d say “buy”, and when the next candle opens and moves up 50 pips he’d say “here we go! She’s going UP UP UP! That’s what she does”.
If any correlative relationship holds up we may see further downside after 0930 ET; Fannie Mae and Freddie Mac are going to really weight on the Dow today.
A government bailout or maybe even nationalization of both companies. Their stocks are each getting slaughtered, and are now down another ~40% off of yesterday’s close in pre-market. Not looking too cheery. Oil also spiked to a new high on renewed supply concerns: Nigerian rebel, Shehab-3 missile launches, labor strikes in Brazil, etc. Could be an ugly day.
I was thinking of going long GBP/CHF I was going to short GC earlier but couldnt.
Im still trying to ppick up some more GJ lower. Top one is at 211.70 down to 211.10. Everything I got lower I scalped already.
MAd scalping today wow. I heard fannie squeeling this morning, the government already backs them up so whats a bail out with some more funny money?
In the meantime I am not worried I am going to keep borrowing yen at .5% and holding my NJ and GJ. At least the GJ I can scalp out all day long.
Reggie bred to pearl today, it was his first time, at one point I asked the alpaca if he was stupid but I guess he has never done it before and had a very hard time finding the spot.
didnt you get a chance to get long? I got long all the way down several times only to bail out on the way back up.
Andrew you are a great trader and could be excellent if you just gave up and accepted that the market has a conciusoness, even if you want to think of it as the collective conciousness of all the traders trading at any one given point in time.
My dad told me all about oil a day or so ago. He has been watching oil since before I was born. I still dont understand his gold oil ratio nor have I studied it enough to make a judgement. But as he described oil and its movements over the last 50 years or something, I learned a great deal about the market in general and not so much about the market as about the collective conciousness which is what moves the market. My dad may have spent more time just sitting and watching the market than I have spent breathing.
In any event there is huge psychology in trading. And when I saw GJ sinking
at first I was thinking UGH, but then I got so excited I cannot describe as I bought all the way down spaced smartly apart.
I know for a fact that it cannot keep falling, and at some point it does have to turn around, and what a GREAT chance to get LONG for CHEAPER!
I bought for cheap, and sold for higher, I lost count of how many times I did this today. I may never understand why this lazier easier sure way to make a profit rubs you the wrong way. But I think it may be because you are
much more knowledgeable of a trader than I am, and your skills obviously took a great deal or time, patience, dedication and persistant study.
I know you didnt wake up and suddenly you were a market expert.
I am very different than most people. I am an expert at very few things.
And in ways I am a jack of all trades and master of one or two.
I think the most of Andrew and I appreciate his presence and participation here. Sometimes I wish I was as good of a trader as he was, and maybe I cannot even ever get that good, but I know I could try and I know it would take much time and effort, which I dont have to give right now as I am spread to thin over too many projects, businesses and responsibilities.
And heh 50 pips I wish! I couldnt hold one for that long! But I always try,
I had some tps set today for 60-100 pips but didnt get more than a few dozen at once I dont think.
M2P, I like your 15’ chart with the 50/200. I can see from checking back, how it fits when the 50 is well above the 200 on 15’ a further b/o is unlikely. I used that to bag some pips yesterday
But how do you use the 5/10 lines? And when going long, I assume it is the opposite … the 50 needs to be well below the 200?
Any other favorite indicators?
As to the other thing, keep practicing, you’ll get it right one of these days
I second that analysis … her weekly chart is like a row of dojis. What that most likely means is when she breaks, she will break big time. Just hope it happens when I am awake
Another analyst sent a commentary yesterday that basically said if she breaks 207, she could head to the 190’s before recovery. If she breaks 214 then 217, next stop could be 230. I guess we all know which one rrram favors.
The break of that triangle is still too tight, she could take it out in both directions several times … like she has done with all his previous triangles.
In the interim, she can be scalped as rrram is doing for lots of little pips … but at this point she really needs to confirm a new direction and that would be a significant break of 208 to the downside or 214 to the upside … as I said before, just hope it happens when I am awake & alert!
The 5/10 is used on a “normal” view 15m chart, not one zoomed all the way out. If you get a signal on the 50/200 chart, use the 5/10 chart for best entry. The 5/10 set up is the same as the 50/200. If you see an awesome set up on the 50/200, don’t worry about not getting the best setup on the 5/10. Getting the best setup on the 5/10 is just icing on the cake.
Yes, and price well below 50.
No. I’m naked besides my ma’s. I used to use rsi and macd, but they got fired after I never even looked at them anymore.
After all this time and I am still no good, I doubt it. It’s hard to teach an old dog new tricks.
The only explicitly guaranteed government agency among them is Ginnie Mae. Fannie and Freddie are implicitly backed, but are privatized companies at the end of the day. What “implicitly backed” has meant regarding their relationship with the government is easily spelled out on paper, but becomes an ambiguous and dangerous thing, creating the moral hazard everyone worries over when it comes to government assistance and bailouts.
I am ahead of them, and as long as I remain ahead it is all easy.
The only reason I joined this was because my best friend (very conservative),
joined because her best friend had joined and was taking $ out every month.
Yes it is risky, but $200 is really nothing significant to just lose.
I gave away $110 to someone who joined the loan club so they could pay thier fee. I would hope they would do the same for their downline.
My dad has 25K in principle and gets 40K in interest after 60 days.
He figures he is also ahead of them at this point and really could care less about the 25K even if he doesnt get anymore withdrawls for 40K he is still 15K ahead even if he loses his 25K, so he is not worried. it cant last forever
nothing like it can. But for now it works, much like my forex broker,
for now he is sending checks every week, but he too cannot last forever
there is about as much of a chance as him packing up shop and disappearing as my HYIP. And to take it one step further let me tell you about your bank.
Your bank (all of your banks) are crooks. There is also a good chance that your bank cannot last forever either (freddie and fannie cannot), so you put money in your bank in what is reffered to as a demand deposit account.
WHEN you deposit money INTO that account you ARE loaning the bank money. They deposit it into their baNK ACCOUNT AT THE FRB (federal reserve bank){BANK OWNED AND RUN NOT BY AMERICANS} and they get 10 times credit for your money. They record the money you loaned them as a LIABILITY in thier accounting books. Over time you will loan them THOUSANDS of dollars. Over time you may overdraw your account for $5.
They should honor the overdraft and pay it (certainly after you loaning them THOUSANDS for years and years that they could TRUST you with $5 eh?).
They may return it and JACK you for $35. Or they may pay it and LOAN you $5, then jack you for $35 becuase they had to loan you $5.
What about all the time you LOANED them THOUSANDS for basically nothing, then they loan you $5 and JACK you for $35!?! That is HOW or WHY I KNOW they are crooks. To me that is what a crook does is rip people off, some think of it as theft by deception.
And you trust your bank! HAHAHA! The day is coming soon when you are going to go to that bank that you trust, that has behind the scenes been robbing you blind, and try to withdraw money, your money, AND they are NOT going to have it.
You wanna talk about some ponzi schemes? This isnt the place but suffice to say the freddie and fannie bail out is a ponzi sceme, bear buyout was a ponzi scheme, 1/2 the things the government does is a ponzi scheme.
They have been debasing and devalueing our currency since that LBJ commie was in the white house. You know how I know JBJ was a commie?>
He merged the general fund with the social security fund and they have been
STEALING our SOCIAL SECURITY MONEY SINCE THEN! And now they want to let it go under?! Ha another ponzi scheme social security. I am glad I dont rely or wont need to rely on social security.
Like my dad always says the hardest thing in life is to get ahead, after that it is all easy.
The government already spent the money that is not theirs to spend. So now they have to take our ss payments in to payout ss payments due today to the generations that raised us.
My sentiments exactly. I have friends in UK. I should have bought soem Property a few years ago and I would be a multimillionaire by now.
Location location location, UK will never be backwater, japan is backwater
that is thier location exactly, backwater.
I also shouldn’t again need to explain the demand for foreign currency.
Lowering the rate in UK may help them some but not as much as it may hurt them and they are better off keeping it the same and weathering the storm.
As I explained before and I think it is a matter of fact coming from another 50 year market guru. The rate of interest associated with a countires currency determines the worldwide demand for that currency. Why do you think the dollar is going to hell, the main reason IS 8 or 9 rate cuts in in less than a year or whatever the exact stat is. The lower a country lowers its inerest rate the MORE people (foreigners), that will pull their money out and take it elsewhere. As far as Japan, they are all saving their money! and loaning it to us for peanuts, no one is bringing their money to japan like they are to NZ or GB or Iceland or Australia. it is a fact that the countries with the highest currency interest rates import more funds from other countries by way of investments than countries with lower interest rates. So no matter how high tech and new japan is, they will never surpass the UK in their interest rate
DURING MY lifetime, And I have at least another 44-81 years to go.
