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DbPhoenix
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Everything posted by DbPhoenix
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Even if one were to agree that Obama "pandered to hope", surely that is preferable to pandering to fear, suspicion, hatred, and intolerance. And if Republicans agree with you that "selling security and hope" to his base is what won him the election, it is unlikely that they will re-establish themselves in four years, or eight, or perhaps ever.
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Parker and Stone had to have created two versions. I hope they make the other one available someday.
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Because candidates who, in the United States, win the popular vote in a given state take all the electoral votes for that state (with a couple of exceptions), those who follow the "red/blue" maps may get a skewed view of where conservative/liberal sympathies lie. Since McCain won 46% of the popular vote, conservatism is hardly dead or even dying. But I find the following chart informative:
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If you mean legislative act, I expect that it will be an economic plan along with something to resolve the Iraq/Afghanistan situation, largely because of the connectedness between the two. Energy, healthcare, and education can wait, though I understand that the House wants to enact SCHIP as quickly as possible. If you don't mean legislative act, I expect it will be to get the locks changed.
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Incidentally, don't miss last night's newest episode of South Park
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While he's entitled to his opinion, I don't know that I'd call it "very understanding". The Republican experiment of the last forty years hasn't exactly been a screaming success. If Obama's approach is a recipe for failure, then I guess the Founding Fathers got it all wrong to begin with.
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For those of us who grew up with segregated schools, "colored" water fountains, "colored" restrooms, "colored" balconies in movie theaters, whites-only restaurants and hotels, it doesn't get more personal than this. It's not always easy to recognize the historic nature of historic events at the time that one is living through them. September 11, 2001, was easy to recognize at the moment the first plane crashed into the North Tower. More often, we focus elsewhere, and events pass us by. It is only later, and frequently too late, that we try to remember what we thought and what we felt. I encourage traders, particularly American traders, most particularly young American traders, not to become so focused on market movements that they fail to live this and fail to understand the significance of it.
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John Zarrella CNN Miami Correspondent Why did you vote? Many of those I asked answered simply, saying it’s a right we have and it shouldn’t be wasted. For others it is far more personal. I ran into a young man named Rick Garcia coming out of Fire Station 33 after he voted. Rick had tears in his eyes. He had voted before but it never meant as much as this time, he said. Or for that matter, to his friends. “I got a lot of friends who would never normally register to vote and they were just calling me, ‘Where do I go? What do I do?’” Here you go, I’ll bring you the paperwork, he told them. The reason for the enthusiasm, Rick’s brother Jair DeJesus Garcia. A private in the U.S. Army, Garcia was killed in Afghanistan. Rick’s eyes welled up as he told me the story. “August 1st of this year he passed away, roadside bomb. It’s the main reason why I came to vote.” “In his honor?” “In his honor, yes. He would want everybody as American citizens to do it.” Rick wears a button with his brother’s picture on it and a dogtag around his next. His brother was with Easy Company out of Fort Hood, Texas. He volunteered at age 29 and had only been in Afganistan two months when he died. Rick says many in his family had never voted before. They too are voting today. Rick says he will never be able to erase the pain of loss. But voting made him feel at ease, at least for awhile.
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Topic Of The Month November, 2008
DbPhoenix replied to Soultrader's topic in Announcements and Support
I found this post on "Exits and Scale-outs" interesting and have nominated it accordingly for "Topic Of The Month November, 2008" -
"Forums" still has a "+" after it, so the link still doesn't work.
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When I click Mark Forums Read in the toolbar, I get this: Not Found The requested URL /forums+/forumdisplay.php was not found on this server. Additionally, a 404 Not Found error was encountered while trying to use an ErrorDocument to handle the request. Apache/1.3.39 Server at www.traderslaboratory.com Port 80
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The dynamics aren't the same. Price may form a triangle prior to a news event, but it has nothing to do with jockeying for position. Rather traders are simply waiting for the event. But it may make an interesting subject of study for somebody.
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Don't get too caught up in bars. Note here, for example, after the "breakout", that price and volume rise together. Then when price makes a higher high, volume doesn't go along. This suggests a lessening of buying pressure. When volume rises again, so does price, a renewal of buying pressure. Then again, and then again. Volume is the effort. What happens to price is the result. And the effort is pushing price higher in each wave.
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And what is volume doing on the advances?
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Those who sold in "that congestion" are already out. Perhaps you mean "those who sold [at the test, i.e., the retracement]". But all that aside, what is volume telling you, and how can that message help you reach a decision in real time?
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No, it stopped at the congestion zone that formed just before the breakout. If you had noticed that at the time, what would you have (a) surmised and (b) done differently?
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Where did price stop in relation to previous price action?
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I began the thread as a result of posts made in the Trading Ranges thread regarding hinges. How I trade them or "what I'd do" is largely irrelevant. What matters is understanding why they form, i.e., what's going on with traders. If one focuses on bars, much less on what to call this bar or that bar, he's missing the point. One must be able to recognize the hinge (or wedge or apex or dead center or pivot) in real time. If he can't, it is of no use to him. If he can, there are many, many different ways of entering, managing, and exiting the trade, the choice of each of which is entirely up to the trader according to his goals and objectives. If those who are interested in this subject want to post charts of hinges which are in the formative stage, along with what they plan to do to play the hinge, I'm sure that everyone would benefit. Even hindsight charts, though there have already been plenty, may be of benefit. But this is much more than a game of Find The Bar. One must instead, again, understand what traders are doing and why. If one can't do that, or doesn't want to, preferring instead something mechanical, then this approach will not be for him.
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Yes, the technical potential is the bottom of the hinge, which also happens to be a swing point. Every chart pattern has a technical potential. But that doesn't make it a target at which one necessarily exits one's position. Wyckoff didn't get tangled up in patterns. He focused on trends and "rests". And though he used P&F to estimate targets, I choose not to. Whether you do or not is entirely up to you.
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McCain told the Albuquerque crowd that he relished being the underdog in the race. "Ten days to go, we're a few points down, and the pundits of course as they have four or five times have written us off," McCain said. "And you know what, my friends? They forgot one thing. They forget to let you decide." McCain drew less than 1500 in Albuquerque. Obama, also in Albuquerque, drew 45,000.
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I don't use targets. What I said was "if that were the target", i.e., if one determines targets. I see no point in them. Many people do. And they're free to do so. To me, it's just another way of cutting profits short.
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Genuine hinges share common characteristics and can therefore be traded in much the same way. If buying what appears in real time to be an upside breakout through the supply line, keep a tight stop. If it doesn't go, you're out at breakeven. If price returns to the midpoint, one can place a buystop above this activity so that one can be stopped in on a second attempt at an advance. Otherwise, one can as you suggest sell a break of the demand line, again with a tight stop. If he is again stopped out but the return to the midpoint turns out to be a test, he can place a sellstop below this test and be stopped in on a second attempt at a decline. I don't know what bar interval was used in this case, but using a smaller one may tell you whether or not your trade is going to succeed without having to wait for a "bar" to "close".
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Indicators aren't used in the Wyckoff approach, much less the ADX. If and when one understands how to interpret the price action, indicators aren't necessary.
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I don't recall saying that. If that were the target, the trade would hardly be worth taking.
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Interesting, and a nice presentation: http://www.msnbc.msn.com/id/26797480