ES Journal Archive (2009 - 2010)

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Quote from tortoise:

why look for a down trend?

why not accept the uptrend for what it is ... until it is no longer?
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Because as a day trader I captured 11.5 pts the other day out of the early down move in less than 2 hours, so why should I care about the longer term trend (other than the fact the market's overbought and price falls faster than it rises on the daily chart).
 
Greece cds obscene at 489.46. Portugal also 21 bps higher at 222.47. this is really becoming unsustainable, but it failed to move the markets down so far (so far, in the last weeks). But this is really screwed. If the way out here is a series of bailouts, the PPT can manage to the stock market not to fall, but I think the euro would fall quite a bit. Any thoughts?
 
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