ES Journal Archive (2006 - 2008)

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Quote from smilingsynic:

I used bands when I first started. Made great money when they worked, and then gave it all back when they didn't.

Like all indicators, sometimes they're useful, sometimes they're not, but all indicators fall short when compared to the king of the indicators: PRICE ACTION.

If I were a newbie all over again, I'd focus on that alone. When price hits a support area and then volume and movement there dry up, that's bullish. When price hits resistance and then volume and movement dry up, that's bearish. Price will do that again when it hits the next levels above and below-pivot areas, recent daily highs/lows, unfilled gap areas, and such.

If I had focused on price action instead of trying to find some magic indicator, I would have saved years, and made more coin.
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So by using price action, the ES should head lower? The resistance is there volume is limited. It has been trying to go up for a while and nothing.
 
Quote from saxon22:

So by using price action, the ES should head lower? The resistance is there volume is limited. It has been trying to go up for a while and nothing.
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Right now, there is congestion--if there weren't, I wouldn't have time to post.

Oops, There WAS congestion--breakout on high volume thru 1535 means that the trend isnow up. I will be looking to buy on pullbacks (I don't chase breakouts).

I'll try to get back to this later...
 
09/26/2007 15:09 Buffett and others said to be looking at Bear Stearns stake-NY Times

09/26/2007 15:13 Follow-up: Buffett and others said to be looking at Bear Stearns stake-NY Times - Bear Stearns (BSC) is in serious talks with outside investors, including Berkshire Hathaway's (BRK.A) Warren Buffett, according to the New York Times "DealBook" section, citing people briefed on the discussions. Other investors interested include Bank of America (BAC), Wachovia (WB), Citic Group and China Construction Bank, said the sources. [Reference Link]:[http://dealbook.blogs.nytimes.com/2007/09/26/buffett-others-said-to-consider-bear-stearns-stake/]


I guess if Buffett wants to buy into his derivative time bomb it can't be all that bad. I figure this is the reason for this move?
 
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