another selloff on a friday in the summer ?

[Bakinec]

Quote from dwl603:

This week has crucified me, I trade opening orders and i am used to being able to take advantage of SOME sort of chop off the open, this whole week every day i was against the grain on monster straight up/down moves, where there is no chance to bail. It just keeps getting worse and worse and worse, that being said i made decent decisions most of the time, a couple times i was down over 7k and ditched when it came back to only down 2k, only to watch it get worse and worse every day.

No offense, but did you try watching the news before the open?? Particularly on economic event days?? Thursday, foreclosures up 6%, disappointing retail and initial claims, all before the open. ES drops 10 points, I double my money. It makes sense, given the markets' recent propensity to make a big move right on the open, especially when there's news.

 

[mitsubishi]

Quote from Gubinec:

No offense, but did you try watching the news before the open?? Particularly on economic event days?? Thursday, foreclosures up 6%, disappointing retail and initial claims, all before the open. ES drops 10 points, I double my money. It makes sense, given the markets' recent propensity to make a big move right on the open, especially when there's news.

You made money trading the open which is the hardest part of the day to pick a direction.Plus you traded the news,another thing i find difficult ( in fact i ignore all news except FOMC) how many times has market gone up on bad news? I tend to think smart money buys bad news and sells into good news.Of course they could already be short before news comes out.

 

[uninvitedguest]

Quote from MohdSalleh:

only BBT worth trading today


everything else is shit thanks to obama who has destroyed capital formation, destroyed capitalism

Historical facts... Almost without exception (The Carter years), the Republican Presidential tours have driven us to lower levels. We are at our darkest hours, until a Democratic President gets into office and can try to turn things around. During that time, Republican sympathizers just want to bitch and moan and complain about new taxes... but there wouldn't have been as many new taxes if the GOP hadn't put us there to begin with.

That being said, now go out and pick yourself up some Cannabis Science stock, and earn some serious bucks. Happy Tokes..

 

[ER9]

Quote from mitsubishi:

Many traders unwilling/unable to hold overnight will often miss the move which is initiated by manipulating the low vol futures after the close.That is a very old game nothing new there.Best to trade at the extremes of sup/res 990/1018. The market seems to be at a stalemate inbetween,with smart money short and the gov trying to manipulate it higher-that's my take.But in any case,might be worth waiting until one side blinks before making your move-doing nothing is a position sometimes.Depends on your trading style of course.

thanks for the advice. its been quite the learning experience for me these past two weeks. my technical indicator strategy that has worked well for two years is getting decimated in this tug of war. had to drop it with a bit of reluctance and fall back on trading major support/resistance breaks. luckily its been working out so far. been a bit nerve racking to say the least.