06/04/2012 Live Update

[louie]

So who's shortin?

Not yet, but getting close. (for Me)

[pezhead9000]

A lot of block trade interest in BSV (Vanguard short-term bond fund)
Trades: 31
B/S: 16.92
MF: $298.66M

FYI - recent # of trades averages < 10

[L_T]

L_T, pragcap is into MMR not MMT.

Huh?

Just what I said. Cullen dropped out of the MMT camp long time ago. Into MMR. MMT had way too many flaws.

Sorry I work in health care so when I see MMR I think measles, mumps, rhubella ha ha.

Wow looks like I haven't been to his website in a while! Looks like they are splitting hairs to me. I just always bring up this idea whenever people start squawking about bringing back the gold standard or beating up fiat money in general. It's vastly superior to issue paper we have faith in rather than peg money to some heavy lump of yellow metal.

[EvilTrader]

This is one very impressive "squeeze"

this is may not be a squeeze
But rather the "solution"?!?


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Correct.

Maybe a third option : Speculation

[louie]

L_T, pragcap is into MMR not MMT.

Huh?

Just what I said. Cullen dropped out of the MMT camp long time ago. Into MMR. MMT had way too many flaws.

Sorry I work in health care so when I see MMR I think measles, mumps, rhubella ha ha.

Wow looks like I haven't been to his website in a while! Looks like they are splitting hairs to me. I just always bring up this idea whenever people start squawking about bringing back the gold standard or beating up fiat money in general. It's vastly superior to issue paper we have faith in rather than peg money to some heavy lump of yellow metal.

My wife works in health care (respitory). I just "gamble" in the market.

[BullBear52x]

So who's shortin?

Not yet, but getting close. (for Me)

My sell the rip spot always (always) 5 min. chart 144ma initial lot, 390ma last lot. the stop if break out 390ma and retest. it will be buy lot from then on.

[Cobra]

Cobra - I have been struggling with learning charting for some time. Is there a course (online or classes) that will teach me charting?

I think almost all of us have learned by piecing together information from different websites, Dummies books and each other.

yeap, that's my answer too, I just don't know how to say it in English even in Chinese. Well said, thanks.

my largest mistakes in learning were making things complicated and learning hundreds of different ideas indicators and so on. the temptation is to believe that there is some correct way to go using many indicators that create a confluence which is usually correct. or i thought that. this all turned out to be totally wrong and just very very simple price action has worked better. often in martial arts or some other competitive situation knowing tons of techniques is not the issue just being able to do maybe 3 things very well is more useful. esp when under pressure.

so i would offer (1) keep things simple. (2) do not worry too much about tons of indicators. (3) as above try to grasp the feel behind the charts.

charts are clues. just as a word is a clue in a conversation not an end itself. use rules but look for clues such as momentum of the move (strong or weak) and so on. so it's not just what is said it is how it is said. For short term chart reading if you can stand it--try al brooks--he tries to get across how to read each price bar and that is a good place to start. or try just reading cobra and not anyone else for a while--there is less detail but you will slowly get exposed over and over to very useful chart stuff.

bottom line? just as in anything--

try esp at the start to keep it real simple

concentrate on one chart in one time frame with the fewest possible indicators and build outward as far as you think you have to slowly over time.

it's like learning musical stuff or athletics etc--the stronger the base (eg suffer at the start on simple ideas and making them default reactions or habit) the easier later.

Well said too, thanks. Actually, reading the daily post here in this forum is enough, gradually people'd get the feelings. Seriously, I'd wish when I started trading I'd have some place like this teaching me how to read chart, LIVE!

[MrMiyagi]

Hmm.. I guess whoever was monitoring today must have been on a poop break and is back now.

[louie]

So who's shortin?

Not yet, but getting close. (for Me)

My sell the rip spot always (always) 5 min. chart 144ma initial lot, 390ma last lot. the stop if break out 390ma and retest. it will be buy lot from then on.

That's very good! Will study that. I go all in (on 5 min) at 360 ma. Really don't know why - just seems to work for me.

[MrMiyagi]

Hey I didn't even notice we have entered POWER HOUR!!!

[BullBear52x]

So who's shortin?

Not yet, but getting close. (for Me)

My sell the rip spot always (always) 5 min. chart 144ma initial lot, 390ma last lot. the stop if break out 390ma and retest. it will be buy lot from then on.

That's very good! Will study that. I go all in (on 5 min) at 360 ma. Really don't know why - just seems to work for me.

Cool, they are equiv to 5dma really fair speed on normal human speed of reaction.

[Richarab]

Hmm.. I guess whoever was monitoring today must have been on a poop break and is back now.

the hft guy has diareaha


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[taggard]

Well said too, thanks. Actually, reading the daily post here in this forum is enough, gradually people'd get the feelings. Seriously, I'd wish when I started trading I'd have some place like this teaching me how to read chart, LIVE!

agree totally on the daily posts. the problem of course is that there are so many different people posting so much stuff people tend to get sucked in. consider how few here are actually using your "insanely simple mostly non confirmed just the price action thing" (ismncjtpat school). so the danger is people just starting out get sucked into trying to resolve 10 different ideas.

the worst part about beginning is you rarely know enough to know if the teacher has a clue.

the problem is explaining to some one that just doing this one thing 1000x is 100,000 faster than doing 10 things 100 times. and explaining that part of the reason is this is not theory--you have to apply it under epic pressure and be all frosty.

finally you used a bad word "gradually". the idea that something like trading could take years to learn is horrifying to some people. why is it that everyone figures it takes 4 years to get a ba in something like biology but says "i want to make money in trading fast"? even a run of the mill black belt takes most 3-4 years.

so slower is faster--simpler is more complex--watch out for reading everyone here and getting confused. and finally please keep it simple--complex trades are wonderful to bore women with at parties--but just read a book and memorize these--and keep your "dumb but hey it works stuff" to your self. you can bore her just as well this way and make money sooner.

[louie]

So who's shortin?

Not yet, but getting close. (for Me)

My sell the rip spot always (always) 5 min. chart 144ma initial lot, 390ma last lot. the stop if break out 390ma and retest. it will be buy lot from then on.

That's very good! Will study that. I go all in (on 5 min) at 360 ma. Really don't know why - just seems to work for me.

Cool, they are equiv to 5dma really fair speed on normal human speed of reaction.

BB, I'm not even close to normal Think that damn Vietnam war screwed me up (just a little). Take WAY too many chances!

[BullBear52x]

intraday sell here on 5 min. see arrow, no new low bears are little tired.

[BullBear52x]

BB, I'm not even close to normal Think that damn Vietnam war screwed me up (just a little). Take WAY too many chances!

wars sucks, what about " me love you long time part?" I joke.

[Cobra]

hmm, I'm a little disappointed, another false alarm? unbelievable but it's normal, I saw this happened several times.

[BullBear52x]

Thanks Cobra and everyone, GLTA

TA note: nothing new beside the over sold is on.

[Cobra]

maintain the plan by the way.

[louie]

BB, I'm not even close to normal Think that damn Vietnam war screwed me up (just a little). Take WAY too many chances!

wars sucks, what about " me love you long time part?" I joke.

Navy BM Petty Officer running the brown rivers 65-68. All we saw was bullets and rockets.