Go DOWN Already. What the is going on here?! Nothing discounted?

Overnight said:
Today's action was certainly off kilter in the indices. Couldn't make head nor tails of it for the first half of RTH, and then of course we get that afternoon rally. Grr.
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Made 62 pips on the Yen today, so I cannot complain.

Traders should concentrate on what's moving right now, that's the secret: if they see lousy price action on the indices for instance they should immediately switch to commodities, stocks, bonds or currencies and look for trading setups there.

Limiting our trading to any market, sector or even timeframe is a total waste of time and money.
 
Tradex said:
Made 62 pips on the Yen today, so I cannot complain.

Traders should concentrate on what's moving right now, that's the secret: if they see lousy price action on the indices for instances they should immediately switch to commodities, stocks, bonds or currencies and look for trading setups there.

Limiting our trading to any market, sector or even timeframe is a total waste of time and money.
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Depends on yer brain-type. I cannot switch from a 4-point range in ES to a 100 point range in GC that easily.
 
Tradex said:
Because you are seeing things in absolute value terms, not percentage-wise... :cool:
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I guess? My major malfunction has been the inability to see that no matter how far the equity indices drop, they recover as much in a relatively short timeframe. :-(

 
Overnight said:
no matter how far the equity indices drop, they recover as much in a relatively short timeframe. :-(
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When they "recover" (due to profit taking activity) the smart money sees the pullback and adds to the short positions, while the dumb money buys the "trend reversal" (the so called "recovery")...
 
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Overnight said:
Today's action was certainly off kilter in the indices. Couldn't make head nor tails of it for the first half of RTH, and then of course we get that afternoon rally. Grr.
More...
If Wall Street asked the question who's your daddy during this bull market the answer would clearly be NQ and yesterday it showed the way. Actually ES was similar. RTY tanked though.
NazDaddy.png
 
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