Urgent Message From Rennick
- Thread starter William Rennick
- Start date
my finest analysis as of today was moved to chit-chat. i will post it here unless Big Bill objects.
somebody please tell me if i am missing something with my crude analysis.
1. we gapped down hard overnight
2. this gap is too juicy not to fade so many traders went long at the open
3. the gap did not budged in the morning (in fact there was some selling) so many longs are trapped
4. if the market start moving lower, there will be a snowball effect of longs trying to bail out
5. as a result the market can drop several pcts (approaching the Nov low)
6. trading plan for the day: sell any rally attempt
somebody please tell me if i am missing something with my crude analysis.
1. we gapped down hard overnight
2. this gap is too juicy not to fade so many traders went long at the open
3. the gap did not budged in the morning (in fact there was some selling) so many longs are trapped
4. if the market start moving lower, there will be a snowball effect of longs trying to bail out
5. as a result the market can drop several pcts (approaching the Nov low)
6. trading plan for the day: sell any rally attempt
Covered the babies on the rally to 49.60 area!
PM me if you still want to know, but I might charge you for the information if you have the money, or give it you for free if you do not have the means to pay for it.
Cheers!
That is great insight! I did not think of it that way. I was thinking in terms of money flows resulting from sales of position in US stock market and money leaving out of US, which leads to the opposite conclusion.
I seriously think that you should consider writing your thoughts and put them on the side. You have a lot of insight about currencies and world money flows that hot shots in banks and advice companies would drool to have!
The significance of your analysis is not in the why, but rather the correct anticipation of what to come, with the why. Ask a general, and he would tell you that if he anticipates the enemies moves, the battle is almost won before the first shot.
hey Bill, I think I know why you did not post the PM call. If you want me to share, let me know. 
You are one of those old cooks billy. When one eye is worried (and half closed), you throw away the weather reports (even if you pay for them) and stick to the cash post for safety.
Sometimes the return OF your money is more important than the return ON your money.
PS: For those of you who do not yet see the exact meaning of the above language, rest assured that a guy like Bill and others know what we are talking about.
You are one of those old cooks billy. When one eye is worried (and half closed), you throw away the weather reports (even if you pay for them) and stick to the cash post for safety.
Sometimes the return OF your money is more important than the return ON your money.
PS: For those of you who do not yet see the exact meaning of the above language, rest assured that a guy like Bill and others know what we are talking about.
Here my reading of Bill. He is a believer in trend trading. He sets his mind on a direction. If it is long, he buys retreats. If it is short he sells bounces.
I think his calls should be considered with what I just wrote in mind. I think that he can make good money with it. But what I just wrote is not trivial for everyone to follow. In other words, one needs to be like Bill to trade Bill's calls.
My sense is that Bill's old profession is something like a soldier or a pilot. He does not question things. He follows orders/ check lists, with an eye on the pile next to him to see if it is growing as it should
That is it. That is my reading of Bill following Bill's method, with the hope of getting more bills.
One last thing, if he doubt the commands, he disappears, and stick to the cash post.
Bill: now you can insult me or praise me. Both are fine with me.