The market is a pernicious and cunning thing...

[#1]

Its a fact that a market like the futures market is a zero sum game....no money is actually made...it merely passes from the smart to the dumb...from patient to the impatient...from those that dont have stop losses to those that do....if we look at todays price action for instance....what the smart guys were doing is saying....what will the obvious (conventional wisdom) thing be to do?....well that would be to go short....so the smart guys say ...well I will wait ...so the guys that were short/went short early got squeezed...by like 300 pts ....thats a huge squeeze in a couple of minutes....then what happens is that the psuedo smarts get involved (one or two here were calling this)...they see the direction and think this is it for the day....they are smart but impatient.....all the time the smart guys sit and wait...one things for sure ...a bear is far smarter than a bull...a bear waits for things to walk into his trap...a bull may mall and bruise you but a bear will tear you limb from limb....

[#2]

Any comment on the 20-pip gap down on the USD 5min chart a few minutes ago?

[#3]

Hi AvS...didnt see it...I dont really watch currency graphs...just have the price running in the background...u have any comments?

[saash]

So now's the time to look for direction. Which is probably long, as the gold and plat rush has begun as the dollar take a hammering.

[#5]

No. No comment except eish! I was long USD/Swissy when it happened...

[Brazen]

Ya, it is interesting. You can be right about the imminent drop and short, but if you're even slightly wrong about the time it simply doesn't matter.

[#7]

got out of my short at the open for a decent profit and wuz contemplating a long as yesterdays market action tells me this market just ain't going down soon....Hiya B-bABY. Best just to sit today out as any violent swing on da wrong side and you'd need to borrow some of C-Man's vaseline. (switching system OFF...ADIOS!)

[#8]

violent swings on the wrong side is what stop losses are made for...

[SD]

What i want to ask is why aren't the oil companies hitting highs today as the oil hit 140 per barell yesterday? Anyone?

[Brazen]

Could be a few things SD. One - they've alredy priced in $140 (or more). Two - they're expecting a pull back in the oil price. Three - if you're refering specifically to SOL it's not strictly an oil play. Four - dunno.

[SD]

Thanks Brazen.. I understand what you saying but what do u mean when u say they've already priced the R140 in? I'm bit new at this game. What about oando?

[Brazen]

If you're doing short term trading you really have to ignore the day to day news. You must assume it's all in the price already. And the marktet prices ahead, so you assume oil hitting new highs is already in the price. And, now the news is saying oil is due a big pull back. And you have to assume that's in the price too! Trying to follow the news and trade that will kill you. Just follow the share price and know support and resistance. Everything else is what traders call 'noise'.

[#13]

I agree with you Brazen - that is why you should NEVER watch Bloomberg etc.