This shit pisses me off. Worst economic crisis in 70+ years and companies fail. Every douche bag perma bull comes out and blames it on the shorts. The same stupid shit happens on the upside, but no one says shit. Lets just remember what happened when they banned short selling 800 companies...
Do the e-micro's trade overnight? I have IB TWS up and never see any activity overnight on the micros. Anyone know anything about this? Thanks in advance and I apologize if this has already been answered.
Right off the bat I would say that the 2nd leg of the dragon be a higher low. You could do some testing on dragon's that have a lower low, exact double bottom and a higher low and compare them.
You shouldn't look at trend lines as support or resistance. If you view them as a measure of the trend, then you will eliminate this voodoo mindset. Grab a chart and find a low and connect it to a higher low after a higher high has formed. From there monitor price in reference to that...
Had cramer on yesterday. Noticed a guy named Alex from Pennsylvania, called in.
This guy seriously sounded like alex from puretick.
http://www.cnbc.com/id/15840232?video=880098283&play=1
Scroll to 8:20 on the video
Tell me what you think.
Excellent way of doing things. Following only the bigger levels can allow you time, to plan ahead. Also you take much less trades. However, you have to be at the screen when the s/r is found, to truly put the probabilities on your side. I also tend to look at support and resistance as zones...
Check this link out.
http://www.buyupside.com/chartsandimages2/sp500inflationlogmar08_large.gif
Its the SnP 500 monthly chart adjusted for inflation. Looks worse than a double top.