flick,
On your question about global events and their impact on these markets, of course these markets are obviously tied to these events, but I think it's impossible to reason and analyze precisely how a wide spectrum of diverse news and underlying counterveiling cross currents would effect anything, especially these markets in a way that would allow us to trade or invest successfully.
I think our judgements are flawed as a matter of course and we need to rely on indicators to guide us. It is for this very reason that I rely only on my technical indicators to lead me. When I look at those events, I arrive at the same conclusions and fears as most every one else. What keeps my hand steady in this game is my belief that my technical indicators will tell me what smart money is doing about those complex global events long before actual market direction becomes apparent to the general trading public.
I hope I'm not too wordy about your first question, but in short, I take all news events with one or two grains of salt an go with my indicators. This way, there is less for me to analyze or pay attention to at any one time. It keeps things simple.
Secondly, I agree with Donald Sew that everyone is expecting a rally on Monday and Tuesday, then a BK on Wednesday. I also don't think that will happen, mostly because too many people are already expecting that to happen. These markets will never accommodate the majority expectation. If it did, then every one would be rich and only a few people on the other side of those trades would be incredibly broke.
I feel like I rambled a bit, but I wanted to give to a complete answer. But, on the other hand, WDIK.
Later...
GZ |
