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5 and 10 point pullbacks to the uptrend lines don't cut it, and very few traders have the nimbleness of finger to trade against the trend in that way. Unless you have learned how to be successful at countertrend trading, be prepared to get an education.

 

I know that several of you have the ability and nerve to do it, but I suspect that most posters and most readers of this board do not.

Trade the countertrend?? Too hard. Don't have the crystal balls for it.

 

Being an "easy swinger" both ways, priceless.

 

Buy on dover sole ozzi in EMA Up trends. Sell on dover bought ozzi in EMA Down trends.

 

Trend is friend. Ozzi is trigger.

 

Mostly. :ph34r:

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VERY EXISTENTIAL DOC

 

"The only sentiment you should care about it is the price, specifically its direction. I fail to understand why so many people just want to argue with the market.

 

There's nobody there to argue with. "

 

Ill elaborate on this theme....

 

You cant argue with the market, but you can pretend to......traders are really arguing with themselves and use "the market" as the proxy for themselves.... as the ventriloquests dummy for their desires, their doubts and their dreams.

 

All the great big shorting opportunities disappeared with the year 2008.

 

However some small shorting oportunties appear to be creeping over the horizon in the form of "Sell in may and go away" poetics.

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BAC's Lewis and Fed persons and maybe Paulson might have to appear before a House Committee on the Merrill deal. I will believe it when I see it. Perhaps not a big deal but congress critters sense a need for blood and this at least puts some people in the cross hairs. The administration is obviously not going to do it.

 

House Panel to Probe Merrill Deal

 

http://online.wsj.com/article/SB124165134448493413.html

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Well, things seem to have Mish in a snit.....http://globaleconomicanalysis.blogspot.com/

 

Case Against the Fed and Fractional Reserve Lending

 

Fractional Reserve Lending (FRL) is fraudulent. Indeed, FRL in conjunction with micro-mismanagement of interest rates by the Fed is the root cause of the financial crisis we are in.

 

Unfortunately many do not see FRL for the fraudulent scheme that it is. Here are the most common defenses against the allegation of fraud.

 

Five Arguments Used To Defend FRL

 

1. FRL is not fraud because the lending is backed by assets.

2. FRL is not fraud because it is allowed by law.

3. Eliminating FRL would require unwarranted "regulation".

4. No one is harmed by FRL.

5. People have a legal right to make agreements with banks allowing their money to be lent with no reserves

 

Rebuttal

......

 

And it really takes off from there....

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Zen, this market is a real b*tch right now. If you have a bias, you are going to get reamed. One of the hardest things that I had to learn as a trader was to turn off the bias and let the market tell me what it is doing, not what I think it should do. There are times when it is better to not trade. This could be one of those times for you. There are periods where things aren't making sense and I just have to refrain from pulling the trigger and sit and watch or go to the diner and harass the young women or mow the lawn or just do something other than trade.

 

Also, I have heard some opine that TA doesn't work. Well, if you know how to use it, it really can work quite well. Outside of the putz position that I opened near the open, I traded NQ futures all day without a losing trade, with the exception of one for about even, and some of those trades were shorts. I live for this stuff. All trades were based off TA! The only trade that had any bias was the putz trade because I wanted a good ride if we indeed topped today; however, I pulled the trigger on that trade near the open because the market was telling me that the gap was going to get filled. That way I would have the option of dumping it for gain if the market was going to bounce hard. Anyway, don't beat yourself up if you are new to this and learning. It is not easy and takes lots of experience and it also helps if you have a sick mind.

Thanks psyche doctor -- for the words of encouragement!!

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