Trend Day Tuesday
- Thread starter Brandonf
- Start date
Magna
Administrator
I wonder if the geniuses who didn't even know that numbers were coming out at 10a, got lucky and pulled one out of their rearends by being short, would have been so quick to post their huge losses if numbers had come out surprisingly good and they had been on the wrong side of that whoosh. Hmmm, for some reason I doubt it....
Too many times I've seen a steady drift before numbers that turned out to be totally wrong, so I personally don't play then. While I miss moves like this morning I never care to be on the wrong side of one of those, been there done that.
Too many times I've seen a steady drift before numbers that turned out to be totally wrong, so I personally don't play then. While I miss moves like this morning I never care to be on the wrong side of one of those, been there done that.
I learned when I first started out not to trade news or numbers, just trade the charts. The chart told me to short. The chart knows best. 
Quote from Brandonf:
Wow, incredible. How are those long picks doing? Anyway, I like the idea. Each day, you give a list of longs and shorts. Then, depending how the day goes, you post the list that works. Simply amazing!
Magna
Administrator
To turn a phrase, that's ka-ka doo-doo. 85.0 was the consensus, the numbers came in a whopping 8.4 pts below that to produce the lowest Consumer Confidence numbers in 4 months. I can assure you that if the numbers had come in 8.4 pts above what was expected, to 93.4, then we would have had a screaming whoosh upward, and all the newbie traders like baggerlord wouldn't be proudly talking about "I just trade the charts..." But, then again, as I suggested in my last post, if he had a quick 15 pt loss we probably wouldn't know about it....
Well, given that the setups are above/below the prior days high/low BRCM is the only long trade that did setup (The Gap in CHINA nullified it). So, I would say fairly well. ET would be a lot better of a place if people knew what someone was doing before they started the slams and acting like assholes. But, thats just My Humble Opinion.
Brandon