Just one giant headfake before the run

uh.. sure.. .100% uproom ...

I'm sooooo much more confident now that the Asian markets have regained much less than half of what they gave up yesterday. :p
 
Could be.

I'm not a Fibonacci/Elliot freak or anything, but this has been a near perfect 38% retracement from the July 06 low to February 07 high. An nice opportunity for Wave 5 if you believe in such things...

Even if you don't, it's been a serious enough correction to bring some liquidity and firepower back to the market. Those little 1-2% dips were great swing trades, but the market can't stairstep up like that forever.



Quote from blast19:

http://finance.yahoo.com/intlindices?e=asia

100% up room to go'ers knew it! Damn they're good! :D
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If you dig deep enough you will find infinite reasons to be bullish or bearish, that's why the market usually has a buyer and a seller at any given point.

However, if I pull up a 1day bar chart, I see a bear flag :)

Needless to say Im a daytrader, and I dont care if it goes up 500 or down 500, either way I will do my best to ride the trend the best way I can.

Good trading.
 
Quote from stock_trad3r:

all bullish from here

dont get wrapped up in the technicals

waves and fibinachi numbers are useless
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easy there, i am with u but it's not time yet...we will consolidate/distribute here at best...test the averages down below at worse.
 
Quote from Neet:

If you dig deep enough you will find infinite reasons to be bullish or bearish, that's why the market usually has a buyer and a seller at any given point.

However, if I pull up a 1day bar chart, I see a bear flag :)

Needless to say Im a daytrader, and I dont care if it goes up 500 or down 500, either way I will do my best to ride the trend the best way I can.

Good trading.
More...
 
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