Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Friday, January 2, 2009

Nymex

I made it through Trading Places, I didn't realize they went to the Nymex that was destroyed on 9/11 At the end. For some crazy reason I figured they had gone to the NYSE... which is stupid since they don't trade commodities there.

At the end they get out right at the twin towers.... It's wild....

Over the past month or so, I've been tracking the dollar.... My trading improves when I'm watching the dollar, since it gives me a better idea of where commodities are going.... I need to watch that better. Not that I don't track it every day.... I just don't look at the charts.

I really think we are going higher.... One "Chart Bad" is that we hit that trendline... and what is the rule? third time is the charm? but since the last time we hit the 50dma it was a trap.... it makes me think that it's more likly than not that this time it's not a trap.

That dumb ass Technician on Fast money..... he is such a dumb ass.... He was on last September all Bullish..... Funny how if you remember what people say you realize how cnbc just puts on any talking monkey... his thesis was that the 50dma was a trap... which is just him repeating what happened last time...

I'm not saying don't be cautious, but of course every dumb ass thinks what happened last time will happen again....not exactly dynamic thinking.

2 comments:

Tony said...

LIBOR, too?

can this be used in conjunction with dollar?

Eric said...

You are correct.... I should better track libor.

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