Thursday, September 9, 2010

Thursday Thoughts

Look at a weekly AUD/USD pair and it could be that AUD did on a small scale what it did on a big scale in 2009, ran up alot like a 78 Fibo against a fast drop.   Might be some more, I closed out my short term shorts on ES with a few percent account profit, not bad.  

Still market seems "boring", going to catch people off guard methinks.

Cable took a swat down from the PRS 133, that is significant.

Think of how the Euro debt problems were so promptly and prominently displayed on mass media on Monday morning.

Then think what happened, USD down....other stuff up.   Also this is "Free Week" for Elliot Wave Europe.   What a confluence of mis-information.   Not saying that EWI is misinformation, but saying adding their bearish Euro voice to this mix was apropos to a ramp job....ramp into the new moon. 

Also my favorite indicators predicted a ramp for 4 to 6 days.   See post from last Sunday.  I took a short position today in ES, based on short term Fib and VWAP and Cable.    It moved quickly into the money so I will set my stop at break even and hope for the best.

You can't time the market, and you can't call the top.....classic wisdom is meant to mislead.

Usually moves on the moon occur a day or 3 after the new or full moon.   Last year, it was a powerful trend, until it ended and those betting with "willpower" were taken to the woodshed.

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Insightful and Useful Comment!