Yeah FX is like futures or options…or penny stocks for that matter. The leverage lets you control some heavy positions if you’re a gambler.
I’ve dicked with FX for some scalping but never took a position trade on it. Open a small account and let it rip…they will liquidate if you’re down too far. 
I’ve been meaning to fund up my FX account again to try and swing trade something. Let’s do it and profit! 
We should do that. Just need enough capital to withstand the fluctuations, considering everyone flees to the USD every time there is bad news, yet long term all the signs of devaluation are there…
Look where support just caused a bounce HO HUM. 
Channel for now is still in play. Don’t go getting ape$hit short here at support. Let volume migrate outside that channel if you’re not already short from the top of the channel.
Don’t say I didn’t warn you.
Sure, the question is where does the bounce come in… 1160 looks pretty strong but we’re probably in for a little bit of fun thanks to our friends in the EU.
Bought the bounce and cleared some good $. I found the daily support pretty heavy so I gave it a shot. Also if you look at intraday and understand reversion to the mean or overly sharp moves away from status quo you’d see that was a prime long entry. 
Game over by the end of the month.:tinfoilhat:
For what? Why?
I’m not disagreeing…just trying to get your sentiment and reasoning behind it out. As you may have seen on my monthly chart above I expect the higher probability to bring resistance ahead.
All this news is great n’ bullish right? :hmm:
Any longer term investors out there…I’d probably hold off on buying long for now. The bigger picture chart looks like a dip/correction is highly likely in my opinion. 11,800 DOW would smacking my trendline on the Monthly chart and volatility feels too light here considering the new “recovery” highs. Just my 2 cents.
Besides…buying new highs is a suckers game for the most part right?
I guess what I read was wrong… or maybe it is still coming. I don’t know what to believe. lol
It is hard to believe it can just keep climbing again without a “correction”.
Self fulfilling prophecy. People, and mainly institutions, don’t want to miss the big bull run so they buy in, and cause it.
Yeah I’m hoping for a big correction to drive everyone back into bonds so that I can get a good mortgage rate. :tup:
XRA looks very VERY interesting long here IMO. Glance at a monthly chart going back to 2006. Oversold oscillators at a prior monthly resistance (now support). Fairly tight volatility on the current bearish monthly trend as well which should indicate no panic yet and strong hands.
I think I’ll be checking some of this play out very soon!
Little reason to play along with the tug-o-war here IMO. Well daytrades or scalps sure but I wouldn’t enter a swing here myself unless it was option strategy to capture a directional move.
The trend is up so while the price looks extended to me there could be a short squeeze just as easy as a correction. The only thing I’d be willing to bet on is in the next day or 2 we see a volatility jump because we’ve already had today as an inside day (if you count wicks and not just open and close). This market is pretty fickle and long consolidation seems unlikely to me at this point.
JMHO of course…in reference to the YM/DOW.
http://stockcharts.com/h-sc/ui?s=$SPX&p=W&yr=2&mn=0&dy=0&id=p57041825509
Too busy to do a full screen shot but this chart shows there is divergence on the S&P issues above their 50ma’s. This may prove telling and may indicate the health of the uptrends last leg being impaired. A correction seems pretty likely if the bears can hang on to the mid point of the Friday drop. About 10% fewer S&P issues are above the 50ma at the point of the last peak over the previous leg’s peak.
I’m NOT saying 680 this or 6000 DOW. This would possibly be a correction that would be supported at the volume by price level I marked off. That would be the most probable support. It’s the value based line in the sand if you will.
JMHO anyhow.
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The ease of programming and feature set blows me away. I cannot believe this is part of the platform and free. Most the built in strategies are daytrading/scalping. I am going to try and create some swing trade options. 8)
Lower trendline is based off daily volume profile. Upper trendline is based off intraday profiles. Note how they are confluent with the MA’s I run (21 and 200). Also note the lower trendline is confluent with the volume profile/support from 2/7. We’re in an uptrend…“buy the f’in dips”. But buy them at support and don’t be afraid to bail if support gives way.
This is the YM 5 minute chart in case you can’t see the small text.
HBC keeps setting a new 52wk high every day Makes the big chunk of options I picked up at $24 in 2009 look pretty enticing right now.
The YM (DOW mini futures) have hit 1st level support in the 11,900’s. Daily stochastic is in the oversold area. Not a bad spot to begin averaging down some on the stronger plays. While the micro trend is bearish the bottom line is the macro trend is still up on the indices really, evident by what seems to be buying pressure today.
Thoughts? Special plays you guys are looking at?
Went further than I had expected but the result was the same as expected. This market is still supported at this time. That said, I’m curious on opinions relating to the below…
5 year yields pushing to new lows should mean shorter term bonds are still sought after and perhaps equities in the 5 year window are viewed as less than stable?
The longer term bonds made higher lows so the theory would be 10 and 30 year bonds are less attractive. Because of equities stabilizing? Because there is fear of the interest rate changing?
Thoughts?