ES Journal Archive (2006 - 2008)

Status
Not open for further replies.
Quote from Lawrence Chan:

There are things that MM firms can do (like doing buy programs on last hour), and things they cannot control (like the outcome of big 3 bailout talk, fed minute release tomorrow).

The latter one will be the key.
More...

So what if they will decide to bail them out, short term bounce leading to more selling? It's like throwing money into fire, they will quickly burn through it & start asking for more ImPO.

BTW Pekelo, regarding the peak oil thing. I was fortunate enough to have a 'tet-a-tet' with yet another oil specialist, not collar & tie type. He has confirmed what the other chap's said, there's enough oil for many years to come at let's say yesterday's demand levels, prices rose not because we are running out of oil, but because:

1) Production is lagging behind demand curve line;

2) Oil is more difficult to 'get to' (because of political relations with countries that have oil & geographic/climate conditions of places where it's being extracted) it's leading to higher running costs, which currently stand at around £100,000 per oil rig per day (frankly I can't be certain whether he meant £ or $);

Also, there has never been an audit of the Saudi oil, apparently they have never allowed any sort of inspection, so whatever they have is based solely on what they say they have ie speculative figures;

Breakeven operations are about $20 per barrel, I can't remember exact figure.

I believe these guys :)
 
Quote from Lorenzo91:

Hello, i noticed you did not update your thread of support/Resistance blog for the 18th. Please disregard if you are not the one that does that.

Ii find it real helpful and was wondering what happened.
More...

Me? :)

Edit: The direction of the model stays the same, thus did not update that. Will post the chart there shortly.
 
notr1s.jpg


Dollaryen breakout should happen w/i next 24-36 hours.
 
Quote from JSSPMK:

So what if they will decide to bail them out, short term bounce leading to more selling? It's like throwing money into fire, they will quickly burn through it & start asking for more ImPO.
More...

The sell off in the index and its components so far is a very interesting process ... I cannot find one good set of historical data that resemble what we see now. Similar ones, yes. But none behave like the current market condition we are seeing today.

Many says 1929, 1932, etc. has some resemblance. That's true. But volume dried up at that time. Many brokerage firms survived the 1929 crash went belly up in the years after because business dried up completely.

Today, the volume and trading activities is still expanding. Thus, technically I do not have something to lean on for longer term trades (> 1 week) at all. :confused:

On the other hand, people in Ontario Canada here have very good experience with the taste of bigger government who tax the rich, and giving that back to the people - that was the time Bob Rae of the NDP party here got a landslide victory to become the premier here. Search for his remarkable performance in destroying the economic structure in 1/2 yr since being elected. An experiement too expensive to forget. :mad:
 
We have an interesting, dragon in a dragon formation. The earlier mentioned bigger dragon is still playing out aiming at 760. But inside it there is a smaller dragon formation. The height is 100 points, the failure was yesterday at 860 (cash), so its target, guess what? 760!!!

Edit: To be perfect, it should go up to 880 and fail there, because that would be halfway of the 100 pts height: 830+50 (also happens to be the SMA line)

On the contrary we have a double double bottom on the daily, meaning that the 2nd bottom itself is a double bottom and there is RSI divergence to back up the bullish pattern. I still think we go down below 800 and from there with a Wyckoff spring rally back like crazy...
 
sh 62.25,what pek said,b brutus, they have to start off with www. or ET won't turn them red, 72 stop, res at 30 min tl starting 11 am yesterday cst,
 
Quote from ammo:

sh 62.25,what pek said,b brutus, they have to start off with www. or ET won't turn them red, 72 stop, res at 30 min tl starting 11 am yesterday cst,
More...
47.5 bid ,support temp at 46.75 ,yesterdays low and this mornings, cxl bid, 55 stp
 
Status
Not open for further replies.
Back
Top