Fas/faz - 5/18

[Ivanovich]

Quote from Eko_Trader:

It's not as crazy here in the futures world. Its bad news, but you know how they always get spun as "better than expected". The FED is basically just backing up on the green shoots craze.

Fed downgraded GDP for the current year, mentioned things like "half a decade for employment to return to normal" and still the market took it positive.

Stay out of the way and let this silly behavior burn itself out OR go long for a while and use extremely tight stops. Just be ready to get in when stuff turns sour, as it will no doubt do eventually.

 

[stevegee58]

Half a decade? Usually the feds engage in obfuscation to make things look better, not worse.

Which sounds better? 5 years, or half a decade?

 

[Eko_Trader]

Quote from stevegee58:

Half a decade? Usually the feds engage in obfuscation to make things look better, not worse.

Which sounds better? 5 years, or half a decade?

I guess they wanna play straight. If they said 5 years instead, we could have seen dow 10000 in a week.

 

[Haroki]

Quote from Eko_Trader:

It's not as crazy here in the futures world. Its bad news, but you know how they always get spun as "better than expected". The FED is basically just backing up on the green shoots craze.

I prefer to avoid this.

 

[Eko_Trader]

Quote from Haroki:

I prefer to avoid this.

You know I've been staring at that set up for an hour, I don't know how it's gonna breakout...

 

[Haroki]

Quote from Eko_Trader:

You know I've been staring at that set up for an hour, I don't know how it's gonna breakout...

Yeah, it's hard to ignore the chatter about how financials are a smaller part of all the indexes now.

But like it or not, financials are the news leaders and in everyone's minds. So when FAS made LH,LL and I was trading the ES, I woulda been short biased.

As it turns out, it DID break that way.

 

[Eko_Trader]

Quote from Haroki:

Yeah, it's hard to ignore the chatter about how financials are a smaller part of all the indexes now.

But like it or not, financials are the news leaders and in everyone's minds. So when FAS made LH,LL and I was trading the ES, I woulda been short biased.

As it turns out, it DID break that way.

You ain't gotta say it twice, I'm kicking myself now

 

[salp]

Anyone agree with my double bottom on the FAZ ??

 

[Haroki]

Put some S/R lines on it to let us know what you're looking at.

 

[stevegee58]

Took another IB breakout at 5.34 on the 1445 15 minute bar. Stop at 5.20