Black Tuesday (1st May, 2007)
- Thread starter palenimbus
- Start date
I thought it was the other way around:
1. Trend following systems: a lot of small losses, few big wins.
2. Counter-trend systems: a lot of small wins, few big losses.
At the Dow trading +30, the forecast is off by 830 points so far.
It depends on which trend you trade, short term, intermediate, or long term, or all three. If I am a short term trader I will buy a stock when the intermediate and long term are trending up and the short term is down.
If I am a long term trader I will buy when the long-term trend is up, the intermediate is down, and the short term is up. This will allow for some pretty good moves.
Isn't anybody going to crow about how bearish pending home sales were?
The only thing I can think of that rhymes with "orang" is "orangutan".
I don't remember the post, but someone said pending housing sales data can be months old. How current were this morning's data?
Also, how much do people want to believe builders who say that housing has bottomed? $HGX and builders are about flat with their pre-10AM prices. Looks like optimism to me, misguided or otherwise.
Also, how much do people want to believe builders who say that housing has bottomed? $HGX and builders are about flat with their pre-10AM prices. Looks like optimism to me, misguided or otherwise.
they are suppoossed to be a leading indicator of existing home sales.
How can PENDING sales data be month's old?!! These are sales figures where contracts have been signed but not finalised...so in essence, sales about to happen (a forward indicator)
http://www.nasdaq.com/econoday/repo...ing_home_sales/year/2007/yearly/05/index.html