Kospi: Year of the Rabbit Looking Bad

R

Roark

Look how ugly the market has been in Korea since traders returned from the Lunar New Year holiday. It was the year of the tiger. It is now the year of the rabbit and the rabbit seems to be burrowing into the earth (15 minute chart):

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=3085947">
 

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wow, idk if you're serious or not but I looked up the same thing about 1 month ago and thought the same thing lol. Figured 2011 was going to be a very interesting year at the very least. Kinda scary thought.

Look back at 2007. Year of the Fire Pig. Very negative. Turned out to be the top.

IMO 2011 is nothing to scoff at.

I'm not really into the whole zodiac thing, but I don't have any doubts it may be self-fulfilling at the very least

Yin is negative too and 2007 and 2011 are both Yin.
 
I'm not serious about the Chinese zodiac, but the Kospi seems to be entering into a topping pattern. It's making lower highs and lower lows, which can be seen better on a daily chart. Could be just a correction or something a bit more sinister.

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=3085968">
 

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That is presisely why I day trade. Not smart enough to make any long term predictions. Got burned too many times in past.
 
Quote from Roark:

I'm not serious about the Chinese zodiac, but the Kospi seems to be entering into a topping pattern. It's making lower highs and lower lows, which can be seen better on a daily chart. Could be just a correction or something a bit more sinister.

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=3085968">
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haha i figured. I really was never impressed by it, but since the market's are arbed and China's huge...i never turn a blind eye to something that MIGHT move the market.

The market's the only place I'd read into this kinda stuff. 2007 based on their calendar was almost spot on.

Would be funny if this thread was the top. S&P is a bit over extended.

IMO when we get the correct, it's going to be another "crash-type" scenario. Market's have become sleepy to big down days and they're gonna be caught like a deer in the headlines due to how we've gone up.

Straight up = straight down and vice versa.
 
Quote from RedDuke:

That is presisely why I day trade. Not smart enough to make any long term predictions. Got burned too many times in past.
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Are you killing it today on the Kospi? Looks like if you got short at market open and just held on, you would be having a really good day. I'm not doing so well today. Stops were too tight. Barely in the green. I'll have another go at it tomorrow.

ps: There's the close, very close to the low of the day. El conejo is muy feo.
 
Quote from Roark:

Are you killing it today on the Kospi? Looks like if you got short at market open and just held on, you would be having a really good day. I'm not doing so well today. Stops were too tight. Barely in the green. I'll have another go at it tomorrow.

ps: There's the close, very close to the low of the day. El conejo is muy feo.
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It was a really good day for me. Days like these are easy to make $, it is the slow days that cause issues. :)
 
Good morning traders. The rabbit is continuing to deepen his burrow. So what's the trade here. Wait until price hits the upper tine of the pitchfork and short it with a fairly tight stop?

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=3086985">
 

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