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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj

Tuesday, 27 March 2012

OEX


Posted by at

14 comments:

  1. pebblewriter27 March 2012 at 08:19

    Love that chart! Nice catch.

    ReplyDelete
  2. Chartrambler27 March 2012 at 11:12

    Thanks PW. The OEX does seem to chartmore cleanly than some other indices.Having said that I am rapidly losing faith in TA in these melt-up markets !

    ReplyDelete
  3. Anonymous27 March 2012 at 22:00

    Your problem is that you don't short the right sectors... COAL has been going straight down for 6-7 weeks... and they couldn't even rally yesterday during a 160 point rally!

    TA works fine.
    You just haven't figured out how to properly use it.

    Today:

    ANR 15.52 -0.16 -1.02% Alpha Natural

    ACI 11.26 -0.16 -1.40% Arch Coal

    BTU 29.85 -0.55 -1.81% Peaboady Energy

    WLT 61.05 -0.64 -1.04% Walter Energy, Inc.

    JOY 73.87 -1.76 -2.33% Joy Global, Inc.

    PCX 6.40 -0.24 -3.61% Patriot Coal

    NRP 24.92 -0.34 -1.35% Natural Resource

    CNX 33.99 +0.25 +0.74% CONSOL Energy Inc.

    CLF 70.14 -0.66 -0.93% Cliff's Natural

    ReplyDelete
  4. Chartrambler28 March 2012 at 00:20

    Thanks Wags...I am short some UK listed miners and doing fine

    ReplyDelete
  5. Anonymous28 March 2012 at 16:16

    Good to hear.

    And it doesn't help the sector over here when the EPA comes out yesterday and proposes a decision to put a cap on coal-fired power plant emissions that is the same as that of nat-gas fired power plants. It's just a proposal at this time, but it's fairly dramatic and just creates even more negativity when it comes to utilities using coal in the future to power their plants.

    And remember, it's about making money and not some ridiculous wave "theory". Hope you make a killing!

    :)

    ReplyDelete
  6. Chartrambler28 March 2012 at 17:41

    Wags that was a civil comment.You feeling ok ?

    ReplyDelete
  7. Anonymous28 March 2012 at 20:48

    I'm still LONG 40,000 shares of EXAS.
    It's +5.2% today.

    :)

    ReplyDelete
  8. Chartrambler28 March 2012 at 21:23

    Nice

    ReplyDelete
  9. Anonymous28 March 2012 at 23:27

    Thanks!

    The "hard" trade will be to continue ADDING at higher prices, aka George Soros, Paul Jones, etc.

    I don't think that this one is even out of the 1st inning yet. Think ISRG.

    :)

    ReplyDelete
  10. Chartrambler29 March 2012 at 19:45

    If you come onto a EW blog,a bear blog to boot and poke fun at the posters (and the host) you cannot be surprised if people react in a defensive or even hostile manner.Its not your blog ! By all means criticise but do it with civility and I am sure you will not get the same reaction.I really dont want to discuss this any more !

    ReplyDelete
  11. Anonymous29 March 2012 at 20:23

    EW blogs are by and large, worthless.
    They attract people that have virtually ZERO understanding of EW. Just a bunch of Doomers looking for a place to hang out and vent their frustration that they missed yet another MONSTER rally in the equity markets.

    You either want to make MONEY.
    Or you don't.

    You do that by being able to trade BOTH sides of the market. Not just the Bear side.

    ReplyDelete
  12. Chartrambler29 March 2012 at 22:11

    which begs the rather obvious question,if thats what you believe,why do you waste your time there ...and Oneofdaworst

    I think a lot of bears have been surprised at the extent to which the Fed has been able to juice the markets (and has been prepared to do so,given the risks) And it may be that they have only been able to do so because fraud and corruption are more deeply entrenched than they had believed (aka the videos I posted yesterday) But I agree that should reinforce the need to pay greater attention to price action

    ReplyDelete
  13. Chartrambler30 March 2012 at 01:16

    well if you like to teach then communication is a big part of that game...people need to feel empathy with their "teacher"....just sayin : )

    I used to think conspiracy theory was crap,now I'm not so sure.Maybe its just endemic corruption.The banks are just too powerful.The Janet Tavakoli interview impressed me and scared the hell out of me.

    ReplyDelete
  14. Anonymous30 March 2012 at 15:24

    An internet message board is obviously not the greatest forum to share, or teach with. It's easy to misunderstand, and take posts out of context.

    That having been said, if you have a thin "skin", are emotional, rationalize your mistakes, make excuses for yourself, and get bent out of shape easily... TRADING the financial markets probably isn't for you and you should stick to mutual funds.

    ReplyDelete

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