mmrmnhrm Posted July 1, 2010 Report Share Posted July 1, 2010 (edited) I'm glad I'm not currently invested: http://evilspeculator.com/wp-content/uploads/2010/07/2010-07-01_TRAN_fractal.png Edited July 3, 2010 by mmrmnhrm Chart updated from 6/29 to 7/1 Quote Link to comment Share on other sites More sharing options...
John Bruh Posted July 1, 2010 Report Share Posted July 1, 2010 shit about to hit the fan. sell sell sell lol Quote Link to comment Share on other sites More sharing options...
mmrmnhrm Posted July 3, 2010 Author Report Share Posted July 3, 2010 First it was Mole, now Karl Denninger's seeing it: Actually, Denninger posted that before Mole's chart... either way, not pretty Quote Link to comment Share on other sites More sharing options...
nurkvinny Posted July 3, 2010 Report Share Posted July 3, 2010 Not scared. Quote Link to comment Share on other sites More sharing options...
oh8sti Posted July 3, 2010 Report Share Posted July 3, 2010 the only people that get hurt on a roller coaster are the ones that try to get off Quote Link to comment Share on other sites More sharing options...
mmrmnhrm Posted July 3, 2010 Author Report Share Posted July 3, 2010 Not scared. You must have one of those double-short ETF's Quote Link to comment Share on other sites More sharing options...
nurkvinny Posted July 3, 2010 Report Share Posted July 3, 2010 You must have one of those double-short ETF's I'm not scared because some coincidental chart match-aroo isn't reason enough to be scared. Companies are laying off fewer people; more companies are hiring more people; retail is up... too many good signs right now to be scared. Quote Link to comment Share on other sites More sharing options...
LJ Posted July 3, 2010 Report Share Posted July 3, 2010 First it was Mole, now Karl Denninger's seeing it: Actually, Denninger posted that before Mole's chart... either way, not pretty Denninger feeds on fear. If the economy turned around tomorrow he wouldn't be getting mad paid off of his blog. He's a self righteous prick who TRULY isn't any better than any other analyst out there. He fakes his "year end results" by leaving off a lot of predictions he made that he missed, or calling one a "hit" when he missed 3/4 of his prediction. I take most of those guys with a grain of salt. There is a reason that no one ever heard of this IT guy with no training in economics till the shit hit the fan. Take his predictions with a grain of salt. That said, we were going into a long holiday weekend in the middle of summer, it's hard to compare 2 completely different trading scenarios Quote Link to comment Share on other sites More sharing options...
SquirrelyNutsDSP Posted July 3, 2010 Report Share Posted July 3, 2010 Seriously? Charting? Bwahahaha. Ok whatever, Nostradamus. Quote Link to comment Share on other sites More sharing options...
mmrmnhrm Posted July 3, 2010 Author Report Share Posted July 3, 2010 Seriously? Charting? Bwahahaha. Ok whatever, Nostradamus. You poke fun, but "charting" as you call it, or "Technical Analysis" as the big brokerages do, is what drives the vast majority of program trading. My idea here was to put it out there that this chart pattern happened before, is setting itself up again, and in an environment like this, it doesn't take much to cause more programs to issue sell orders than there are programs issuing buy orders. When that happens... *BOOM*... you have a stock market crash. Quote Link to comment Share on other sites More sharing options...
LJ Posted July 3, 2010 Report Share Posted July 3, 2010 You poke fun, but "charting" as you call it, or "Technical Analysis" as the big brokerages do, is what drives the vast majority of program trading. My idea here was to put it out there that this chart pattern happened before, is setting itself up again, and in an environment like this, it doesn't take much to cause more programs to issue sell orders than there are programs issuing buy orders. When that happens... *BOOM*... you have a stock market crash. HFT is bullshit anyways Quote Link to comment Share on other sites More sharing options...
mmrmnhrm Posted July 4, 2010 Author Report Share Posted July 4, 2010 HFT is bullshit anyways Agreed... the so-called "flash crash" back on May 6 seems to have been caused by HFT systems attempting to act on an NYSE data stream that was lagging, and as anybody who has played an online game will testify, lag kills. Quote Link to comment Share on other sites More sharing options...
thorne Posted July 4, 2010 Report Share Posted July 4, 2010 The funny thing about studying charts and making predcitions based on them is that your prediction come true based on your own decisions. Quote Link to comment Share on other sites More sharing options...
Wease Posted July 4, 2010 Report Share Posted July 4, 2010 The funny thing about studying charts and making predcitions based on them is that your prediction come true based on your own decisions. Excellent point. I'm still a ways off from retiring, so I'm in it for the long haul... Quote Link to comment Share on other sites More sharing options...
LJ Posted July 4, 2010 Report Share Posted July 4, 2010 Agreed... the so-called "flash crash" back on May 6 seems to have been caused by HFT systems attempting to act on an NYSE data stream that was lagging, and as anybody who has played an online game will testify, lag kills. Yeah, then they were able to circumvent every protection policy put into place by trading through different exchanges. So the NYSE stopped it, then the fucking HFT machines were just able to keep trading on another platform.... so stupid Quote Link to comment Share on other sites More sharing options...
Supplicium Posted July 5, 2010 Report Share Posted July 5, 2010 I'm not scared because some coincidental chart match-aroo isn't reason enough to be scared. Companies are laying off fewer people; more companies are hiring more people; retail is up... too many good signs right now to be scared. wake up dude everything in your post is the opposite. retail is up rofl jobs rofl :gtfo: Quote Link to comment Share on other sites More sharing options...
Casper Posted July 5, 2010 Report Share Posted July 5, 2010 wake up dude everything in your post is the opposite. retail is up rofl jobs rofl :gtfo: That's what I was thinking. Quote Link to comment Share on other sites More sharing options...
nurkvinny Posted July 5, 2010 Report Share Posted July 5, 2010 The retail and jobless news I read at the end of June were just as my post said. I guess I'll look up the latest stats tonight. Still not scared b/c some x-number-of-days chart matched from years ago. Quote Link to comment Share on other sites More sharing options...
Tractor Posted July 6, 2010 Report Share Posted July 6, 2010 Yeah, not concerned. And my trades are still making money because I play off of people making those kind of stupid mistakes. Quote Link to comment Share on other sites More sharing options...
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