making sense of today

[#1]

if this forum set up wasnt so pathetic I could show you this graphically.....today the FTSE is making perfect (and I mean perfect) ambush zone retracements.....and then retracements within rettracements...so for those who want to go long thats where u can chose your entry...we are doing one right now....

[_nova]

I've several times asked on this forum for a facility to upload graphics and the answer is always 'jawellnofine'. Chartist? What timescale are u looking at? Candles?

[KVW]

Please explain Chartist, I always value your inputs.

[#4]

5 min...tick chart...yup my words not even cold...here we go...

[#5]

Ja Nova...when Simon came on board I though we would have someone who would be able to implement a vision.....sadly this event seems to be a process which has got bogged down....the forum is however free from naughty words....

[#6]

I think like Samson when they cut his hair he lost all his power...

[john_1]

Yip I noticed that but we would rather you don't get graphic..

[john_1]

Talk about a wound up spring..This thing is going to be very interesting.

[_nova]

btw, Mon is a public holliday in the US, Columbus day, so the Yanks might be extra nervous today whatwith G7 over the weekend

[timba]

i can't take this anymore, the suspense is killing me...i am just gonna exit my long position from 18610

[#11]

:-)))

[_nova]

DOW futures now -358

[_nova]

I definitely wouldn't want to be long in this market and here's why: 1. Today is the settlement for much of the credit default swaps on bankrupt Lehman. If, for whatever reason, these do not settle properly (meaning investors do not collect on their insurance), you will see massive fear. While I hope this doesn't happen, this could be the final straw in a complete global meltdown. 2. Due to the tightening of the credit markets, municipalities have found it all but impossible to borrow money. If the Fed does not step in, we could see a rash of municipal defaults. If that were to happen, be prepared for severe cutbacks in essential services as well as possible pension defaults in the US

[101bn]

ie - BUY GOLD