Thread: tsptalk's Market Talk

You got backup a little sometimes to get a good running start.

Originally Posted by tsptalk

Sure. I totally expect it to breakout, but I didn't think it would back down again first.

daily.jpg

Mildly up all day and then down at the close. Was there some news or just some late session profit taking or....other?

CNBC and others will always give a reason. Everytime. The real reason is, with few exceptions (e.g. 9/11), that no one really knows. Even so, we still try to predict the daily ebbnflows of the markets; with varying degrees of success or failure.

We can barely predict what we ourselves (let alone others) will do in the markets on any given day in very near the future. That's what moves the markets...what others are doing in it.

_____________________
"Ours not to reason why, ours but to do and die."

Originally Posted by exnavyew

Mildly up all day and then down at the close. Was there some news or just some late session profit taking or....other?

Originally Posted by exnavyew

Mildly up all day and then down at the close. Was there some news or just some late session profit taking or....other?

Could be anything really. One week the market is down because of falling oil prices, another week it's up because oil's going down. Before QE is good for the stock market prices, then shoots up after the fed says QE is gonna get tapered, then down when they say the same thing another week... How the news affects the market doesn't make any logical sense, which is why I don't factor in news when it comes to my market moves

Originally Posted by userque

CNBC and others will always give a reason. Everytime. The real reason is, with few exceptions (e.g. 9/11), that no one really knows. Even so, we still try to predict the daily ebbnflows of the markets; with varying degrees of success or failure.

We can barely predict what we ourselves (let alone others) will do in the markets on any given day in very near the future. That's what moves the markets...what others are doing in it.

_____________________
"Ours not to reason why, ours but to do and die."

Post of the year right there. I tried to explain this very thing to someone at work today. In short when we complain about the market or "Wall Street" we are complaining about ourselves.

We are the Market.

Frank

U.S. stocks end lower in late-trade selling

http://www.marketwatch.com/story/us-...5-03-23?page=1

"Where two or more gather..." ...so...continuing from where I left off:

An online lower-cased buddy of mine here recently used the phrase "circular reference." While he incorrectly said or implied that such a thing is not allowed in Excel (in fact, it is by special permission; but that's another tutorial), it does perfectly describe a part of these markets we trade.

You see, trend-lines, moving-averages, bollinger-bands, etc., and the like work not because stocks themselves say in effect, if not in these exact words: "Hey! I'd better reverse direction. I just hit the 200-day!" But instead because the owners of those stocks etc. say those things.

Because everyone (or more precisely--a lot of folks) expects a bounce/reversal/etc., at least, on these key levels: elliott, bollinger, MA's, EMA's, Candles, etc.; it happens! a lot of times.

If for that reason only, such (what are in effect) arbitrary constructs do indeed have value.

A self-fullinging prophecy. A circular reference. A reduction in market entropy; and thus, an increase in market predictability.

usercuz

Double tops are giving the largeer indices some short term resistance.



Small caps trying to hang onto rising channel.

Originally Posted by tsptalk

Double tops are giving the largeer indices some short term resistance.



Small caps trying to hang onto rising channel.

Patience ..... patience will prove very worthwhile for us later this week.

Frank

Dollar trying to hold onto support...