US markets

[N Rothschild]

something is stiring..but what?

total disconnect across the board, total chop fest, smoke and mirrors and faking out every which way. there is no clear trend or direction.

anyone else seeing this and thinking something is brewing..

i have been getting killed this week, s&p has lsot all sense of normal price action, rendering my system useless

 

[candles]

did you lose today out of interest?
For some reason i tend to do well when good traders aren't (a little worrying in fact!)
I post calls in a thread on another forum and there are some good ES traders who are alot better than me, but when they go through a bad patch i tend to excel.
I had my best day in months today.

How would you describe todays action? i like the decent swings goin both ways. I tend to get killed on trending days (although am getting better)

 

[N Rothschild]

i dont know where to begin today!! market basically sold off hard, locals were short in the pit, there was no paper coming in at the lows at all, market even looked to be struggling to short cover..

i went heavily short here

started to short cover right into buy stops which rocketed the market up taking out even more buy stops from people short covering.. we then broke the highs (taking me out) and then just a game of ping pong the rest of the day..its just beyond me where this buying is coming from..even at the clse i expected a sell off and there was nothing..well we sold a bit only to rocket back up again.

dunno what form your using but if its mypivots they all use same methods as i do (price projections etc) hasnt worked in like a week now price action just isnt there..

if you check the rally at 12pm central time that just came from nowehre for no reason..markets are so erratic right now..they are setting up for a huge move i think and its just a tug of war going on..bears taking bulls stops and bulls taking bear stops untill someone gives in..(hopefully the bulls give in as i bought puts today and still heavly short from 909 (after an epic loss on the intra day rally)

im not sure its a case of the "big boys" playing games i think no1 knows what is happening and its just mayhem

 

[N Rothschild]

note how many times it has failed to close above 910..

 

[N Rothschild]

yeh dont think im going to trade tomorow lol

 

[rawrschach]

Tomorrow may be perfect, then what?

 

[N Rothschild]

then i commit harikiri

 

[TheBramble]

total disconnect across the board, total chop fest, smoke and mirrors and faking out every which way. there is no clear trend or direction.

And yet you still traded?

 

[Trader333]

For some reason i tend to do well when good traders aren't

Why do you think that you are not a good trader because in my view you are ?


Paul

 

[Trader333]

yeh dont think im going to trade tomorow lol

Stick with it as these things can and do happen.


Paul

 

[ukdaytrader]

something is stiring..but what?

total disconnect across the board, total chop fest, smoke and mirrors and faking out every which way. there is no clear trend or direction.

anyone else seeing this and thinking something is brewing..

i have been getting killed this week, s&p has lsot all sense of normal price action, rendering my system useless

I got pasted today on this today as well, but managed to recover some of it see below

http://www.trade2win.com/boards/general-trading-chat/62982-stressful-day.html

I think the mortgage data caused a problem on what should have been an upward trend for the day.

Tomorrow there should be some clear lines with the US GDP data out.

 

[rawrschach]

You give way too much credence to figures.

 

[N Rothschild]

data has little effect at the momment..

its almost like last year, good news = sell, bad news = buy lol

 

[ukdaytrader]

Thats what they said on bloomberg and I believe them... You've got to remember the way that fox controls the mainstream news and Boomberg the business news. What they say is gospel....whether its true or not or whether you believe them or not.

Presidential elections are won on what the news said, not what the voters voted.

 

[N Rothschild]

oh dear you are an idiot arnt you

 

[ukdaytrader]

You'd have to be an idiot to discard this. If tomorrow Bloomberg reported by accident that GDP went up 10% what do you think would happen ? The market would plumment ? I doubt it.

 

[N Rothschild]

thats a data error tho, not what effect bloomberg and fox's opinion have on the markets

 

[ukdaytrader]

Yes and the mortgage delinquency rate was not reported on Bloomberg till well after the initial positive announcements for unemployment, even though it was available, which caused the reversal in what was an upward trend.

 

[N Rothschild]

uh huh

 

[rawrschach]

Because they are scheduled at different times you numbskull.

Price reversed at a S/R level, not because of bloomberg.