Salad wasn't Dan's favourite meal... and he made sure everybody knew it.
Hi guys,
Yep wall street tricked us again by a late rally on Friday. But did it really?? When taking the decline of the dollar on Friday we can actually say that wall street didn't do much in real value.
But let's take a closer look at what is going on. Everybody is saying that the oil and gold prices are going up but shouldn't we be saying that money is losing its value at this moment. Is it not so that foreclosure in the housing sector continue with a speed that is set on cruise control. Bernanke and other are telling you now that the bottom is in sight because the downtrend is slowing down. But my Porsche (that I don't have) can't go any faster than between 200 and 300 km/hr. And sometimes I have to slow down because there is another car in front of me before pushing the gas down again.
Is it not so that this so called optimism is base based on a false reality????
1 Interest rates are moving up fast.
2 commodities in relation to money up as well again.
3 Foreclosures continue at cruise control speed.
4 unemployment still rising. (The takeover of Opel is just a bankruptcy delay for this part of GM. If this takeover would have failed it would have meant a bankruptcy for Magna as well because they deliver auto parts to car manufacturers. So no cars no parts)
5 The so called rise in consumer confidence will be hit hard with all these things pointing in just one direction and that is depression.
All in all my predicted scenario from 2006 is still in play and that is Stagflation on a huge scale.
The only thing that has kept this scenario away from the financial world were the huge amounts of money thrown in to the market but how long can they keep doing this????
What does this mean for your trading on the short term?? Actually nothing!! The above scenario will be fact for the future but it will not show sentiment changes that happen near term. Fundamentals will eventually determine the direction of Currencies, Commodities, Bonds and other investments. But on the short term you have to trade sentiment and not the fundamentals.
So my advice is, follow the charts because they show sentiment at that moment and when sentiment is up you buy and down you sell.
Happy trading and have fun.
Your forever Bear,
Erik
Surprise? Non. Wall st often has a mad hour or so at the end of the week (more so end of month), you just have to have the stamina to be there when there's so many other distractions at the end of each week...
All the indicators/signals on a fifteen minute chart were good to go at 8:15.
Hi Swan,
Not meaning any harm with what I am about to say. At the website http://www.could_have_known.com we are all masters in charts. Wether its a 15 min or a day chart. But because that website is not up to date I get tricked all the time. If this was not the case Warren Buffet would be standing in my shadow.
Erik
no offence taken, I'm very emotionally nuetral when in comes to trading. Your emotional babble regarding wall street "tricking us" is just ...well...empty noise.
Hi Swan,
Check your post #1751 Cable was at that time around 1.5750 and now above 1.6200. I think emotions did hit you at that time. But in the end we are all human.
Erik
ekanters,
you re-registered with the name amdria
you then posted saying u were new here
you then posted a reply to BlackSwan using the nic amdria but messed up by signing it erik
you then deleted that post
then you posted it again under ekanter nic
why?