The Surf Report--part 2

Quote from Fireplace:

I don't vouch for Prof or anyone else here besides myself. Are you asking me if I think HIS method is viable? I have no idea one way or another.

If you are asking me about my own trading then I'll tell you that I didn't approach trading or learning how to trade from the perspective of looking for an 'edge'. IOW, looking for what most would consider an inefficiency to exploit. My time was spent watching price at critical levels and how it reacted once the level traded. After doing this for an awful many days, I learned some stuff. This was over a decade ago. Further observation provided more answers.

I guess you can say that two roads diverged in a wood and I---I took the one less traveled by...and that has made all the difference. :D
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Interesting. So you are a self taught chart reader or a tape reader in the index futures markets? What time frames do you use?

Thanks
 
Folks, we will be holding our shorts in sept ES despite this volume spike in the early goings. Believing the market mistress is not finished sucking in the naive longs thus is merely putting out bait prior to a smackdown to sub 1300 support.

Fixed system sellers and strength buyers will be smackarooed if they execute on the false signals that fire during times like these. Use your brain and trade what you think, not what you see--- charts are built to deceive to feed the market mistress. Remember, we are the dumb money noise traders-- once this fact is understood, the first step in truly understanding how markets really work has been taken.

Surf
 
Holding tight to the plan here, don't be deceived-- stay with what moves price instead of price Be one step ahead with the Surf Report.

The forces that resulted in the huge volume selling of the last 34 minutes are still with us and getting drunk and greedy with the new long money. Their hunger is insatiable.

Get ready for every trick in the book to draw in the dumb fixed systems and noobs.

It's going to get fun!
 
Surf's new attack on fixed systems is a hoot. He never stops with his parade of babble.

The best part, he is basing his trade off odds off of In Trade.

Good risk reward trade here Surf. All the bad news is out, coming out and the mkt won't come in. The minute they announce a debt deal your position will be 40 handles against you.

Even funnier is you trash TA guys and say chart patterns are looking in the past...are useless. Then you post this which takes past stats to predict the future. You are basically doing exactly what TA guys do. But you can't see it.

Love the Neiderhofer -like style to this approach you have. Hopefully it works better for you than it did for him. To me it's nothing more than random guessing.





Stocks that closed down exactly three consecutive days, on
average, outperformed the benchmark 1-week later (+0.36%).

Stocks that closed down exactly four consecutive days, on average, outperformed the benchmark 1-week later (+0.54%).
Stocks that closed down exactly five consecutive days, on average, outperformed the benchmark 1-week later (+0.63%).

Stocks that closed down exactly six consecutive days, on average, outperformed the benchmark 1-week later (+0.82%).

Stocks that closed down exactly seven consecutive days, on average, outperformed the benchmark 1-week later (+1.06%).


As you can see, there is an edge in buying stocks that have fallen 5 or more days in a row.
 
Quote from Red_Ink_inc:

Let's see a screenshot of your position. Otherwise you're blowing hot air. Which we all know you are anyway.
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Alt + PrintScreen combo works on Windows
 
There is zero upside for me to post screenshots or to provide any hint whatsoever what my AUM is, broker or any information regarding my account. If screenshots are posted, next someone will want verification or audited statements, next photoshopped will be alleged.

So, sorry, no personal data of any type regarding my account will be posted here. if you don't like my decision, start your own journal and put me on ignore.

With this said, the 1300 level is proving o be a tough cookie, but when she snaps, get ready for brutal fear not seen in some time. right now, planning on holding into Monday barring any bullish events where I will exit prior to break even in stages.

Regards

Surf
 
Murdochs War-----


I’ll never forget the first time I visited News Corp.’s (Nasdaq:NWSA) fortress-like offices at 1211 Avenue of Americas in New York City. From the outside, the building looks like any other modernist sky scraper in NYC. It’s when you enter, that things become almost eerie. The security in the building is like that of a war zone; I have never seen anything like it. Glass barriers, revolving security doors and multiple layers of protection from unseen but apparently known enemies.

My initial thoughts were, “man, this Rupert Murdoch guy is either ultra paranoid or he has some scary dangerous enemies.”

I know FOX is highly controversial and folks sometimes get angry when they lose on American Idol, but come on, he isn’t a drug dealer or North African arms merchant, it’s just a media company! Well, not just any media company, politically conservative Murdoch is known as a king maker in both Britain and Australia; not to mention owning the highly influential New York Post, The Wall Street Journal, and is moving into China to get a start in the Asian countries tightly controlled media business. In other words, he is one of the most powerful men on earth with far reaching influence and tools to shape the opinion of the masses.

No wonder his office has such tight security! Now, it appears, that Murdoch actually is at war with powerful forces trying knock him out.

The recent shake-up at the company reminded me of my visit to Murdoch’s Midtown NYC fortress. His controversial News of the World British tabloid was shutdown in response to a phone hacking scandal just last week. This isn’t even mentioning a FBI investigation of News Corp.’s potential hacking into September 11 victims’ cell phones. Adding insult to misery, Murdoch’s favorite editor, the flamboyant red headed dynamo Rebekah Brooks, just resigned her post. Could this be signaling more trouble on the horizon for the embattled company? It appears like the powers that be are moving to knock this guy off his pedestal.

Share prices have plummeted over 8% since the scandal broke last week. Price cut thru the 50 day moving average like butter but the drop was slowed at the 200 day moving average, where shares appear to be consolidating just below it in the $15.40 range.

Will News Corp. survive this battle, or has the enemy simply become too strong for the aging Murdoch to keep fighting? Is the end game Murdoch stepping down? Time will tell.
 
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