Usually consolidation/side way, before heading higher will result in expanding the channel. Most of the time it's fine. Text book abcde triangle and now breaking out to 5th wave. I guess the market makers will play this out according to the wave guide.
Last edited by HenryR on Fri Feb 08, 2013 2:44 pm, edited 1 time in total.
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Cobra wrote:cannot believe market could be this boring.
Traders leaving early (or never went in today) because of the snow storm?
I guess so. The snow really is heavy.
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TraderGirl lets close on a high so we can short the close....On top of all that, there will be a new moon in Aquarius on February 10. Then comes a slew of Saturn signatures, February 11-18. The hopes of Jupiter get dashed by the realities of Saturn.
Is this a true story, yesterday??
The CME cuts the initial margin for gold (GLD) to $5,940 from $6,600 and silver (SLV) to $10,450 from $12,100. Maintenance margins are cut by a similar ratio for both metals as well
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.