Quote from BCE:
Closed @.10. Hey, it keeps retracing.
Nice job. I shorted .86 for a loser earlier (-10 I think), then shorted .12 and covered .95 -- I agree with you, I absolutely hate this movement. I shouldn't, because it's just neutral information and I have no reason to attach negative emotion to it, but the reality is that I do.
People talk about the market not knowing where your stop is, etc., which is true, but market participants DO know where many people will have their stops, and those with the big money will just take them out. They know what inexperienced traders are likely to do, and they take advantage of that. It's all fair, so I'm not saying it isn't. And if I lose, then it's my fault. But, for those who say "supply and demand" drive the market, etc., fundamentally that may be true, but what really drives it is speculators who want to transfer money into their accounts. It's really not classical "supply and demand" on days like this--it's just smart traders and computers taking advantage of crowd behavior.
Now it falls to 96.