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2 gaps

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Not applicable
I think the market has its work cut out for itself....2 gaps to fill....one quickly on the up and the other larger gap on the down....
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30 REPLIES 30
_nova
Super Contributor
I'm short. DOW's reaction to the 'good news' was a pop then fizzle pffft. These gaps will close but maybe not today or this week. Global markets are dazed and confused. VIX is still sky high and LIBOR 3 MONTH is not really coming off like it should be. That tells me there's no trust and the measures taken are simply not enough and do not adddress the root cause of the problem. There is still $15tn of immediate CDS that needs to unwind and it's anyone's guess who is going to be left holding the bill. I reckon we're going to swing wildly till 23 Oct and then we might get some direction once the market sees how the WaMu auction goes, and more importantly, how governments handle the inevitable fallout.
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john_1
Super Contributor
Nova you have always been keen as a been... but were is your edge? You have all this info. But what makes you trade?
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_nova
Super Contributor
John, if I really had an edge, I wouldn't have to trade nuh? I'm not sure if you are asking the question as a 'what's your trigger' or 'why do you trade' so I'll answer both. Why do I trade? Well everyone needs a hobby, and I also discovered a long time back that win or lose, I have very little emotional reaction to it, so I don't lose sleep over the markets. What's my trigger? I don't prescribe to any specific system and adapt according to the signs of the times. For example: At the moment I'm much more focussed on macro economic fundamentals, market sentiment (VIX, LIBOR), and slightly longer timelines. I still use my TA but I've learn't to stick with the tried and trusted indicators like MOM, OBV, RSI and straightforward chart patterns. That answer your question?
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venice
Super Contributor
Guess that is one closed.
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Not applicable
yes that one is closed quite firmly.....this is really unfortunate for the bottom feeders...
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Not applicable
Expect a rebound around 20000 level. Anytime now, heading towards 21200
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Not applicable
ah yes talking of bottom feeders....
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Electrox
Super Contributor
i see the gap closed for the 13th. on what date is the other gap u mention to be closed?
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Not applicable
The gap between his cheeks.
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Not applicable
Ja so its all getting a little murky down there for the bottom feeders....
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Running_bull
Frequent Contributor
yes, quite a bit murkier in last 30mins...
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venice
Super Contributor
Chartist as a matter of interest those gaps were they back in 2004.
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Not applicable
no...yesterday and the day before...
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Not applicable
yes considerably murkier...Mkadir u suddenly gone all quiet....battling to breath amongst all the muck
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_nova
Super Contributor
Who would have thought that daily swings of 5% or more would become 'normal'? Even as near as 1 year ago a 5% day was a serious thing. Now it's just another day. We're living in wild times
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Not applicable
FSTE 4232 will it hold ? H/S ?
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kwagga
Super Contributor
Chartist - how did you know about the first gap, except for a stronger opening ? The second gap was more obvious.
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Not applicable
that was incredible...I watched in amazement...I really didnt think it would really close both gaps...i was so tempted to go flat long before the gaps were closed but I just left the short and it made the target....absolutely incredible....
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Not applicable
easy money
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