Don’t worry… you’re on the right site to discuss FP’s. I’ve only indicated that lately some of them aren’t real, and are probably simply late fills and/or “prints meant to mislead us”. For the most part, I still firmly believe in them!
These “ideas” are simply a combination of all the news out there on the internet. You just have too “try” and piece it all together… which is what I attempt to do.
I got some flack for saying false prints work. Then how come they work for me? It’s not as simple as “oh, there’s a false print below the stock, so I better short”. You have to use your brain to figure out a probable entry.
I see so many false prints primarily during corrections that work like a charm. I’ve documented it pretty well and they indeed guide my trading to some extent.
The trick is understanding how they are used, and it is more of an art than a science.
Still short……….
Yeah, all I can say is it’s going to be quite dicey the next several weeks…
I like the egg of doom. big picture stuff.
not bearish yet, but hey, how neutral can you get?
http://i56.tinypic.com/2aio3mt.png
Refresh page for new video update…
Cletus,
Don’t worry… you’re on the right site to discuss FP’s. I’ve only indicated that lately some of them aren’t real, and are probably simply late fills and/or “prints meant to mislead us”. For the most part, I still firmly believe in them!
These “ideas” are simply a combination of all the news out there on the internet. You just have too “try” and piece it all together… which is what I attempt to do.
Exactly…which is why it’s good to pay attention to what happens this week and next. The absolute direction will be determined soon…
I got some flack for saying false prints work. Then how come they work for me? It’s not as simple as “oh, there’s a false print below the stock, so I better short”. You have to use your brain to figure out a probable entry.
I see so many false prints primarily during corrections that work like a charm. I’ve documented it pretty well and they indeed guide my trading to some extent.
The trick is understanding how they are used, and it is more of an art than a science.
The Dow is currently trading at 12,197, not exactly a huge move higher than that.
That is also nearly exactly a 50% retracement value from the rally from 2009, doubt it’s coincidence