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07-18-2017, 01:37 AM
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#241
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Buckle Up
Join Date: Apr 2014
Posts: 10,614
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China just had a 'Black Monday'
REUTERS/Aly Song
Stocks plummeted across China on Monday, with 500 stocks hitting their 10% daily limit and 1,200 falling 7%, according to the South China Morning Post.
http://www.businessinsider.com/china...-monday-2017-7
NOT TO WORRY, THIS WILL HAVE NO EFFECT ON US MARKETS, AS USUAL...
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07-21-2017, 10:53 AM
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#242
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,612
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Finally got a signal...
Long ES @ 2465.75 stop @ 2458.25
won't be around to update...trail stop once it gets above 2467.50....
It's moving the wrong way at the moment...
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07-22-2017, 01:48 AM
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#243
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,612
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ended up closing at EOD for gain of 3.75 pts
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07-22-2017, 05:19 AM
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#244
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Registered User
Join Date: Jan 2015
Posts: 1,957
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Quote:
Originally Posted by AltonKelsey
I should amend that , I haven't read him in quite a while, too many other sites, and just forget to. I recall liking most of his stuff when I did read. Think I confused him with some market pundit who is rarely right.
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Denninger, like many perma-bears including myself, took it on the chin with his predictions back in 2009 concerning the collapse of the economy. He no longer provides an annual list of predictions, starting off with the scoring of the previous year's. In the early days of his site (2007-2009), he'd have a daily video reviewing the markets, but that went by the wayside long ago.
He has "wound down" his site considerably, and now is focused on health care blowing up the economy, with the occasional rant on internet security, Facebook being evil, and hiking. He just has one remaining forum section open, and still wields the ban hammer early and often for those that disagree with him.
I learned a lot about charting following his site, and his over-the-top emotional rants didn't bother me too much, like it did with some of my friends. He brought numbers to the table, which is something many in the financial industry don't do, and I still agree with his basic thesis of how the fraud and racketeering in the financial sector will come to a head some day.
Charles Hugh Smith had a nice post a couple of days ago about how this isn't your grandfather's market, nor even your father's. Kinda scary when you actually stop consuming for a moment, and think about it....
http://www.oftwominds.com/blogjuly17...ation7-17.html
Quote:
Each new policy destroys another level of prudent fiscal/financial discipline.
The discipline of sound money? Gone.
The discipline of limited leverage? Gone.
The discipline of prudent lending? Gone.
The discipline of mark-to-market discovery of the price of collateral? Gone.
The discipline of separating investment and commercial banking, i.e. Glass-Steagall? Gone.
The discipline of open-market interest rates? Gone.
The discipline of losses being absorbed by those who generated the loans? Gone.
And so on: every structural source of discipline has been eradicated, weakened or hollowed out. Financialization has consumed the nation's seed corn, and the harvest of instability is ripening in the fields of finance and the real economy alike.
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07-27-2017, 10:30 AM
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#245
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,612
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Just went short ES @ 2478.75 trailing stop @ 2488.75
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07-27-2017, 11:52 AM
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#246
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,612
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stop moved to 2487.25...not moving in the right direction currently...
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07-27-2017, 12:49 PM
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#247
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Veteran
Join Date: May 2016
Posts: 1,831
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Quote:
Originally Posted by PaceAdvantage
stop moved to 2487.25...not moving in the right direction currently...
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lol, that was practically a flash crash .
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07-27-2017, 12:50 PM
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#248
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,612
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Stop moved to 2484...that was a nice break downward...but of course, coming back up a bit...
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07-27-2017, 12:55 PM
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#249
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Veteran
Join Date: May 2016
Posts: 1,831
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We're testing a MAJOR support trendline here on the daily. Could this be the crack in the dam? or will the bots come back in to buy the trend
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07-27-2017, 12:58 PM
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#250
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,612
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Stop moved to 2181.25 and it's definitely moving my way now...
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07-27-2017, 12:59 PM
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#251
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,612
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Stop moved to 2479.25...typo on my prior post...I'm all excited...
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07-27-2017, 12:59 PM
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#252
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Veteran
Join Date: May 2016
Posts: 1,831
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Quote:
Originally Posted by PaceAdvantage
Stop moved to 2181.25 and it's definitely moving my way now...
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2465 line in the sand on this . Not sure why you'd give back 10 points, but its your system
looks like a tech only selloff
Last edited by AltonKelsey; 07-27-2017 at 01:02 PM.
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07-27-2017, 01:00 PM
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#253
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,612
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This isn't even a minor move...but it looks big given the range has been horrible the last few days...
Big fat tail on the last 5min bar...I hate those...
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07-27-2017, 01:01 PM
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#254
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,612
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Quote:
Originally Posted by AltonKelsey
2465 line in the sand on this . Not sure why you'd give back 10 points, but its your system
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Yes it is.
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07-27-2017, 01:17 PM
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#255
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Veteran
Join Date: May 2016
Posts: 1,831
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2465 coming right up
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