ES Journal Archive (2011)
- Thread starter Buy1Sell2
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Quote from Laissez Faire:
Why can`t she just roll over? :eek:
Done below or trend line breakout test?
Interestingly, the current day`s 50% is now equal that of the prior week`s 50%.
Turns out it was some kind of re-test back up to the 20-EMA. Easy to get shaken out of a trade if one does not get immediate follow through which is seldom on the ES, save at certain key levels.
Seems hard to commit to anything from here unless already short, but day low next maybe? Gap fill at 37,25?
Think I`m over to sim ferraris now.
PS: Very nice wave. I`m picking up my old Livermore books from my boxes right now.
Quote from gmst:
Wave - Are you just lucky or you have some skill also
http://youtu.be/1TgHt3Gi7v0
Thousand miles away from home
I offer myself to the sea
What have I done in the past?
Why can't you help me now?
My body is a part of the waves
My mind is the warm white dans
When the sun sets over hte horizon
I am a part of the sea
Like a fish I swim through the cascades
And look for the tiny pearls
As my body glides into the abyss
I can't resist the pressure
Lost in the dark spheres of the ocean
I can't find the way back home
Nobody can help me now
<b>Because I am the wavesome</b>
blog at http://blogs.wsj.com/marketbeat.)
By Mark Gongloff
Live by the euro-zone headline, die by the euro-zone headline.
You may have noticed the stock market getting knocked lower all of a sudden. This seems to be what's doing it: Fitch put out a note a few minutes ago saying its credit ratings for US banks could be at risk if the euro zone goes kablooey.
As with the Rosengren comments, this should only be shocking to infants and shut-ins, but it is also apparently knocking stock traders/robots for a loop, too.
The Dow is down about 115 points now. The S&P is down 1%, led by the financials, down 1.6%, the worst performing sector in the market.
Here's the full Fitch release:
U.S. banks have manageable direct exposures to the stressed European markets ( Greece , Ireland , Italy , Portugal and Spain ), but further contagion poses a serious risk, according to a Fitch Ratings report.
Fitch believes that unless the Eurozone debt crisis is resolved in a timely and orderly manner, the broad credit outlook for the U.S. banking industry could worsen. Fitch's current outlook for the industry is stable, reflecting improved fundamentals at most banks combined with ratings lower than at pre-crisis levels. However, risks of a negative shock are rising and could alter this outlook.
U.S. banks have reduced direct exposure to stressed European markets considerably over the past year in Fitch's view. Direct exposures appear manageable in the context of banks' capital positions and diverse earnings streams. Public disclosure of direct exposures has generally improved recently but varies from bank to bank.
The full report 'U.S. Banks - European Exposure' is available on the Fitch web site 'www.fitchratings.com'. Specific country exposures for the large U.S. banks are provided in the report.
Some day this war's gonna end.
Jesus. I`m happy to say that I took 3,75 points off this sell off that I was positioned at from the trend line break at 53.
Simply been too paranoid about shorting this market lately, but today was the day and it happened without me getting out on a retrace.
Gap fill at 37,25 complete now.
Seems like it won`t stop there! :eek:
Simply been too paranoid about shorting this market lately, but today was the day and it happened without me getting out on a retrace.
Gap fill at 37,25 complete now.
Seems like it won`t stop there! :eek:
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