The markets are more nervous than a long-tailed cat in a room full of rocking chairs.
Kitty, check in. We miss you.
Pailin's Trading Corner
February 9, 2012 - 9:45am
#17022
Candles with long tails
February 9, 2012 - 9:53am
#17023
Trading in the Zone..
The Un-disciplined trader hangs on in there. Zone trade : Long overnight then short at $1739 since 07:00 AM GMT (2:00 AM EST ) It sure is taking a lot of will power not to move the stop or take the profit on the dips and then go long for the ride back up. Mind you having failed miserably trying to play that game all week its not that painful.
Volatility is leaving vapour trails on my screen :)
February 9, 2012 - 9:57am
#17024
Someone has put the toys back in the cupboard
my platform is showing eur/usd and gbp/usd as unavailable
edit to add stopped outof the zone trade at 1741 awaiting a chance to btfd..
February 9, 2012 - 10:03am
#17025
US futures tilt higher.
US futures tilt higher. Looks like we're going to have another up day folks.
February 9, 2012 - 10:10am
#17027
@Pailin,
Asking as someone
@Pailin,
Asking as someone who doesn't trade currencies, are there important daily times to be aware of, especially with the all-important USD/EUR?
February 9, 2012 - 10:11am
#17028
(No subject)
February 9, 2012 - 10:14am
#17029
Rico wrote:@Pailin,Asking
@Pailin,
Asking as someone who doesn't trade currencies, are there important daily times to be aware of, especially with the all-important USD/EUR?
I don't trade currencies either, just XAU (gold) and XAG (silver), so I can't offer much except (what everybody already knows) that EUR/USD is tracking silver and to a lesser extent gold. Or vice versa :)
So the g/s time trade -for now- applies to EUR too...short UK/US hours, long rest of the day. Overall.
February 9, 2012 - 10:18am
#17030
BTFD
GC a little bit impulsive, same with SI on the intraday.
Question is was the 1352 print in ES a gigantic headfake bulltrap? I have seen this before from the Hoods. I remember the head fake on GC when it printed 1227 back in Dec 4 2010. Then they crashed it.
Granny continuing to trade short term format until she sees breakout or down on longer chart. She served at Pork Chop Hill in Korea. She was there at Bull Run, Antietam and the Bulge. She knows a little about betrayal and ignominy, but only a little.
ES 1353 an important pivot point over larger chart.
February 9, 2012 - 10:19am
#17031
Mario Draghi
52 second summation of debt talks
February 9, 2012 - 10:23am
#17032
Granny
No sooner than posted. Big resolution with 2nd impulse. Out of UGL and SLV a portion.
February 9, 2012 - 10:24am
#17033
BOOM!
Nice pop going into NYSE...let's see if new levels hold up and if not...know when to take some profits :)
I'm SELLING R1 and R2 (if we get 'em) - 34.39 34.87
EDIT - cha-CHING @ 34.398 :)
February 9, 2012 - 10:27am
#17034
Worth noting
EUR/USD 1.32 was equal to gold $1750 and silver $34.
We now have EUR/USD 1.33, and gold is BELOW $1750 and silver is pretty much still at $34.
Something has got to give, and I'm guessing that the metals rally higher today once $1750 falls with some strength to the upmove.
February 9, 2012 - 10:31am
#17035
pailin wrote:
Perfidious
The Un-disciplined trader hangs on in there. Zone trade : Long overnight then short at $1739 since 07:00 AM GMT (2:00 AM EST ) It sure is taking a lot of will power not to move the stop or take the profit on the dips and then go long for the ride back up. Mind you having failed miserably trying to play that game all week its not that painful.
Volatility is leaving vapour trails on my screen :)
Playing both sides of the time trade, eh?
Gotta say, after trying various permutations, I'm with Titus that during a bull run it's good enough (and less risky) to take long profits early am (ET) and ride reduced positions or flat until 10 am ET or later and then load back up. Taking the short may just be a bit too greedy? At least for me. Good game during chop though!
And then there's the pivots too :)
Having been twitchy all morning to then get stopped out is not much fun. So I am inclined to agree the short side is just too stressful. I think next strategy is maybe take the overnight long profit, then short the first retrace till it turns back up then go flat till after the afternoon fix..
February 9, 2012 - 10:34am
#17036
Buy this Greek news announcement or sell it? (Due at any moment)
Opinions?
February 9, 2012 - 10:37am
#17037
Perfidious Albion
Having been twitchy all morning to then get stopped out is not much fun. So I am inclined to agree the short side is just too stressful. I think next strategy is maybe take the overnight long profit, then short the first retrace till it turns back up then go flat till after the afternoon fix..
Good idea to keep playing until you find what works. That will be good for a bit and then not. And you'll have to find a new pattern to work...that's what keeps it interesting :)
February 9, 2012 - 10:37am
#17038
Don't worry--if you miss this
Don't worry--if you miss this annoucement, there'll be another one in 5 minutes...
What a pathetic, pathological farce! Or is it a travesty? I can never remember...
February 9, 2012 - 10:38am
#17039
pailin wrote:
I'm SELLING R1
I'm SELLING R1 and R2 (if we get 'em) - 34.39 34.87
EDIT - cha-CHING @ 34.398 :)
And now I'm a bit light so will buy back position at pivot 34.03.
February 9, 2012 - 10:47am
#17040
Deal has been reached
http://online.wsj.com/article/SB1000142405297020364600457721229333707740...
THENS—Leaders of political parties backing Greece's caretaker government agreed Thursday on an austerity package to comply with demands set by international creditors for another bailout deal, according to a spokesman for Prime Minister Lucas Papademos's office.
So metals going up.
February 9, 2012 - 10:50am
#17041
Prediction
If $1750 gold doesn't hold, the miners will bleed heavily today.
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The Un-disciplined trader hangs on in there. Zone trade : Long overnight then short at $1739 since 07:00 AM GMT (2:00 AM EST ) It sure is taking a lot of will power not to move the stop or take the profit on the dips and then go long for the ride back up. Mind you having failed miserably trying to play that game all week its not that painful.
Volatility is leaving vapour trails on my screen :)
Playing both sides of the time trade, eh?
Gotta say, after trying various permutations, I'm with Titus that during a bull run it's good enough (and less risky) to take long profits early am (ET) and ride reduced positions or flat until 10 am ET or later and then load back up. Taking the short may just be a bit too greedy? At least for me. Good game during chop though!
And then there's the pivots too :)
__________________
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Man is a credulous animal, and must believe something; in the absence of good grounds for belief, he will be satisfied with bad ones. -Bertrand Russell