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I feel like a prisoner who's chained to a wall. Every day, the sadistic jailer comes walking down the dank corridor. I hear his lazy footsteps stop outside my cell. Keys jingle, the rusty door swings open. Another day of slow torture is soon underway for reasons that are not clear.

 

Someday, I'm going to wake up and find I'm the jailer, and it's ol' Bully whose chained to the wall.

You've created a very vivid image in my mind...great description...

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2F I don't know how to read your charts. Could you give some explanation and which thingies on the chart are the pivots.

TIA Rich

What the pivots do is give you targets for moves. They are not predictive of direction. If the choice of original pivot is correct, price will move from one pivot to the next, then either pause or reverse. In a strong move price can move 2 or 3 short term pivots at a time.

 

On the 3 min the most important pivots are the 5.625 and the 11.25

 

On the 15 min it's the 11.25 and 22.5

 

Longer term 45 and 90

 

When used in conjuntion with other traditional TA indicators, the pivots can give you possible places to get out of a trade.

 

Like everything else, it is not foolproof by any means, but I have been amazed at how often price will move from pivot to pivot and often trade within 2 pivots.

 

You also have to watch price action and be able to determine when an original pivot isn't working meaning it's time to move the original pivot.

 

It's just another tool in the box and I just started using it about a month ago.

 

Yesterday, on the 3 min, price ran between two pivots for most of the afternoon.

 

Hope that helps

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Huh.

 

I could've sworn that Uncle Buck was all set to bear bounce off the 92.5 mark.

 

I expected a 1-2 week rally.

 

Guess not.

The Buck looks like gone from 92.40 off its lows to 93.40 and we have had a bit of a rally. Looks to me what you expected is happening. You may be being sarcastic. I have a hard time telling when people are being sarcastic or not.

 

I have expected the same.

 

I think because were at the end of the month we will probably push higher in the stock markets over the next few days and the first few days of June.

 

Quicktrade

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Huh.

 

I could've sworn that Uncle Buck was all set to bear bounce off the 92.5 mark.

 

I expected a 1-2 week rally.

 

Guess not.

Uncle Buck is 93.43.

 

There were 4B of 28 day repos expiring today +9.25B in 7 day repos. The 5B added is standard fare each Thursday. Doc covers this all in the Anals.

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from todays WSJ "With the Nasdaq evidently on its way back toward 2000, despite Michael Dell and Steve Ballmer selling stock in their respective companies, it may be useful to catalog what fund managers learned over the past three years.

 

That would be nothing.

 

"

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from todays WSJ "With the Nasdaq evidently on its way back toward 2000, despite Michael Dell and Steve Ballmer selling stock in their respective companies, it may be useful to catalog what fund managers learned over the past three years.

 

That would be nothing.

 

"

I bet they learned a LOT from this board! :P

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Guest libertas
from todays WSJ "With the Nasdaq evidently on its way back toward 2000, despite Michael Dell and Steve Ballmer selling stock in their respective companies, it may be useful to catalog what fund managers learned over the past three years.

 

That would be nothing.

 

"

Actually fund managers have learned that their customers are so well indoctrinated with the mantra of "buy and hold" that they will continue to pay ridiculously high fees for nothing. Since fund managers get paid ridiculously high salaries out of these fees, there is no need to learn anything.

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from todays WSJ   "With the Nasdaq evidently on its way back toward 2000, despite Michael Dell and Steve Ballmer selling stock in their respective companies, it may be useful to catalog what fund managers learned over the past three years.

 

That would be nothing.

 

"

Actually fund managers have learned that their customers are so well indoctrinated with the mantra of "buy and hold" that they will continue to pay ridiculously high fees for nothing. Since fund managers get paid ridiculously high salaries out of these fees, there is no need to learn anything.

Mutual funds are designed to reward the managers and the brokers who sell them. As for the shareholder, well, two out of three isn't bad!

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from todays WSJ "With the Nasdaq evidently on its way back toward 2000, despite Michael Dell and Steve Ballmer selling stock in their respective companies, it may be useful to catalog what fund managers learned over the past three years.

 

That would be nothing.

 

"

Yeah! Jesse Eisinger must be a closet stoolie! AFAIK, he was the first to use the term, Sir Printsalot for Greenspasm.

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