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Yesterday I was arguing that buyers would come in @1203 on the SPX trying to support the market. That's exactly what happened today. This shows the significance traders are placing in the 1996-1205 area. I'd not be surprised if we'll test previous highs again

You ought to start considering use of stoplosses otherwise you'll be soon out of buisness.

Where on earth did you manage to find a market moving more than 30% today?

I agree, and the most powerful lessons will be taught to you by your biggest losses. My first big loss was 9% and since then I never lost more than 1% on one trade.

Well, if you are short then you are expecting the market to retrace at least back below today's lows. If that's not the case why did you not close your position earlier this morning? Just asking..:)

I dont expect this market to suddently collapse after riding well above key support levels: 1996-1203 on the S&P.

Anybody who shortcovered?

I want to start this thread to hear different opinions on the value of these media as a tool for traders. I personally find Bloomberg and CNBC very boring, opinionated and above all utterly useless in helping traders make sound decisions. The only valuable thing they offer are the free...

Imho 10c stp on INTC is not so tight considering the stock usually doesn't move much more than 1% in a day.

I don't swing trade; I like trading nasdaq stocks straight out of the gate and get rid of them few minutes afterwards.

Appreciate Chagi- I almost forgot the chips switch-:)

I heard he is managing several millions in his own private account and that he publishes his trades while they take place live in his subscription website. Is it true?

Gasoline prices keep rallying.

All these crashes traders experienced with TWS are putting me off opening an account with IB. On the other hand IB is the only discount broker to offer software my mac supports. Have I got any choice?:confused:

Did anyone notice the thick red candle on the heating oil contract or is it just me and my charts?

Hi, is there anybody out there long on oil from the open? And what about who was carrying long equities positions over the week-end?

Oil prices have not yet discounted the 1.000.000 barrels cut in daily production announced on saturday.

In this case we can surely expect 70$ by to-morrow.

Sentiment overall in these board is pretty negative. Doesn't it suggest we should be skeptical and adopt a contrarian view when mood reaches extremes. Three weeks ago everything looked rosy after solid earnings and good economic data. Many people probably thought the market could have kept going...

I place more trust in a drug dealer than in those shady figures who certainly are trying to line their pokets to cover mounting losses.