so... I know I'm costanza and this could be contrary... but the initial claims havn't gotten worse... so the NFP will still be in that -50k range.... that could be what the rally is about.
We don't trade on q2 GDP, we traded on that in december january
We are trading on the economy in 2009 q1
Friday, August 29, 2008
the rally
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8 comments:
Hi Eric,
thanks for the charts :)
I'm not doing much today. Just out of QID. Shorted JCP but for a scalp.
This week was a waste, a lesson learned. Never trade on low volume.
Well I mean if a lesson is learned - that's not a waste, but in terms of $ - yuck
buy some banks...
:)
Ya, me too I'm tired. Unless you were super fast it would have been hard to make money this week...
but One of the technical rules is when we Get "Chop" That is usually near a turning point... and this was some big chop. and that acumulation pattern should have tipped me off.
I'm wondering... If the rally is from the weakness in oil.... How much of the oil weakeness will be cooked into the market....
that is alot of resistance, it could retest 37.50
watch out... that could be reversing on you..
So, do you just trade on the pivots and resistance... and have a ticker?
I just can't imagine trading without a chart. If My first brokerage didn't come with charts, I'd have never learned to trade.
It was because I realized everything traded together, that really turned me onto the market
I'm back, need to eat and will write (gimme half an hour)
No worries,,, Friday is a day to decompress.....
Ugh!!!! It's over... I have a good chart post I just did. I'm trying to be market agnostic...
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