Houston 3

Tropo · 02-03-2008, 09:37 AM

Quote:

Originally Posted by lauries

XJO at 4950.

That's a big call - you must have the super deluxe crystal ball.

That would be a 28% drop from November high and a further 11% from here. We must be in a recession that nobody told me about. I am flat out knowing what I am going to eat for dinner let alone predicting such catastrophe for the market.

I thought that "Charts do NOT predict. Charts are telling you what is happening at the very moment. But, not to worry. Nobody knows what will happen in the future"

Just wondering, are you "hoping" the markets will drop that far.

What is the term for "ramping" on the downside? Sloping, perhaps.

Hahahaa.. No, I do not have a crystal ball (I traded it for a bottle of beer long time ago

).

My levels are calculated. Prediction has nothing to do with it.
Simply I can not afford to predict anything or hope.
Level 4950 may be hit (it does not mean that it will be hit).
You are right....nobody knows what will happen in the future.
If you think that market can not drop that far - open chart and check it out. Nothing is impossible in the market!

The Stig · 02-03-2008, 09:53 AM

Quote:

Originally Posted by Tropo

Simply ... follow a trend. That is the way i play.

Well play quietly and don't distract the adults in here.

Thank you.

Tropo · 02-03-2008, 09:57 AM

Quote:

Originally Posted by The Stig

Well play quietly and don't distract the adults in here.

Thank you.

O.K...father. I'll play quietly

lauries · 02-03-2008, 10:34 AM

Quote:

Originally Posted by Tropo

My levels are calculated. Prediction has nothing to do with it.
Simply I can not afford to predict anything or hope.
Level 4950 may be hit (it does not mean that it will be hit).
You are right....nobody knows what will happen in the future.
If you think that market can not drop that far - open chart and check it out. Nothing is impossible in the market!

So what do you calculate the levels are on the upside? Or if you are shorting, are you only allowed to talk about the lower levels?

You are absolutely spot on about nothing being impossible, hence why I won't even dare to suggest a direction, let alone put a figure to it.

Tropo · 02-03-2008, 03:34 PM

Lauries,

On the upside is one important level/number for XJO = 6135
Anything under is not that important (IMHO).

Interesting day tomorrow.

Glebe · 02-03-2008, 07:23 PM

Quote:

Originally Posted by Tropo

"There are a gazillion ways to make money in the markets."

YOU do NOT have an idea how wrong you are.
DaveJ is spot on!!

As far as I am concerned = YOU are NOT a trader.....

Tropo,

The 'my way or the highway' attitude of yours is making you sound like a clown. Check your ego at the door, buddy.

Tropo · 03-03-2008, 07:03 AM

Glebe,

It may not be ‘clear’ enough, but I am talking about risk here.
Each entry carries a risk, which should be minimised as much as possible.
Ego/highway ect, has nothing to do with it.

DaveA · 03-03-2008, 01:25 PM

well we hit 5400.... its been said that 4950 is the next support so thats nearly 9% down from here....

possible? of course, likely to happen? lets hope not

my protfolio is down 10% in 3 days lets just hope there is no round of margin calls that send the market lower...

The Stig · 03-03-2008, 01:43 PM

Down 3% so far. Interesting.

CBA is getting hammered (as are the other 3 banks). Big miners are holding up well.

CBA has now lost 33% of it's value in 2 months. Hammered hard.

lorrimer · 03-03-2008, 02:14 PM

In the words of Monty Python this is now getting very silly!
This must be about the fourth correction of 10% or more in the past 5 months.
Did I blink, but wasn't world economic growth at unprecedented record levels this time last year?
The yanks have done a great job yet again of stuffing everything up.
I don't understand why the regulatory bodies over there cannot give all the major financial institutions a one month deadline to go through their books with a fine tooth-comb. They should then have to announce their losses to the market for once and for all.
If they underestimate by 20% or more, fine them a similar amount.
Time to be honest, let's just get all the bad news out there and move on.
Enough already!!