12 replies to this topic

[OEXCHAOS]

Regarding Zen (this is a repeat from below) I just want to say one thing. We don't beat up on our own for being wrong. I don't want to see it. It's just, well, beneath us and not consistent with our approach. It doesn't really matter that he's not a member any more. He's is still one of ours and I don't want anyone thinking that I think it's ok to beat up on one of ours for being wrong. Besides that, things change and so do people and relationships. I'm also saddened that Zen's blog shut down. That's just a pity. There was a lot of good work up there. I hope he takes himself a bit less seriously and quality of his work and those who were interested more seriously. Oh, yeah, for those of you who have a faith, repeat: "There but for the grace of God go I..." Mark Young Founder Traders-Talk.com

[selecto]

Some messengers need shootin'

[Russ]

Hi Selecto: Where's the market headed on monday...up or down? Russ

[traderpaul]

Hi Selecto:

Where's the market headed on monday...up or down?

Russ

Where is this maket headed? is a $64K question.....Kirk wrote flip the chart.....Which makes the most sense.....(I am not his subscriber).

[selecto]

Well, here is the USD $0.064 answer. Monday we start down. Can't call the close yet. Stuff says we need to flatten or bounce in here. Week closes down. Watch the Yen. We are now at the point where every uptick in the Yen forces a sale somewhere else. And vice versa: Every downtick in whatever the yen bought now requires action. Those yen have been leveraged out the wazoo so its hairy. A bunch of rich terrorists could probably hit the ask all next week, and "blow up" the world.

[SemiBizz]

I enjoyed reading Zen's blog and I will miss his "Flipper" reports. I don't believe one bit in sentiment as a tool but I always appreciated his writing style and observations... Evidently he opened himself and his blog up to a lot of criticism and got a bunch of hate mail and he allowed that to get under his skin.. There's an old saying in cooking, if you can't stand the heat - stay out of the kitchen. I think that applies here... If you are looking for love and adoration that's one thing, if you want to make money that is completely another. For every buck someone makes in the market somebody else loses one... Being right is nice, but no one is right all the time. And there's no shame in getting it wrong. You either learn from your mistakes or repeat them. I wish him the best of luck in his future ventures and I hope he will reconsider and restart his blog.

[nimblebear]

Regarding Zen (this is a repeat from below)

I just want to say one thing.

We don't beat up on our own for being wrong. I don't want to see it. It's just, well, beneath us and not consistent with our approach. It doesn't really matter that he's not a member any more. He's is still one of ours and I don't want anyone thinking that I think it's ok to beat up on one of ours for being wrong. Besides that, things change and so do people and relationships.

I'm also saddened that Zen's blog shut down. That's just a pity. There was a lot of good work up there. I hope he takes himself a bit less seriously and quality of his work and those who were interested more seriously.

Oh, yeah, for those of you who have a faith, repeat:

"There but for the grace of God go I..."

Mark Young
Founder
Traders-Talk.com

Mark,
Very well said. You have my full support.

[Russ]

Thanks Selecto, you are not concerned about some of the divergences in nyud nyad I take it. On the minute charts we have flattened with some diverging internals so I think a bounce up is a possiblity, not sure about it going up for whole week as Teaparty's chart shows though. Any bounce will be very limited, bear trend should go into April. 6 weeks is the average for this kind of panic. 10-20% correction historically. I would expect closer to 20 myself.

Russ

Well, here is the USD $0.064 answer.

Monday we start down. Can't call the close yet. Stuff says we need to flatten or bounce in here. Week closes down.

Watch the Yen. We are now at the point where every uptick in the Yen forces a sale somewhere else. And vice versa: Every downtick in whatever the yen bought now requires action. Those yen have been leveraged out the wazoo so its hairy. A bunch of rich terrorists could probably hit the ask all next week, and "blow up" the world.

Edited by Russ, 03 March 2007 - 01:56 PM.

[selecto]

Russ, the 13 ema having turned back down, I would be very surprised if we don't visit the lower trendline.
My FF is for a board full of crash posts when it comes creek jumping time.

Edited by selecto, 03 March 2007 - 03:31 PM.

[selecto]

PS: That's not the window you were discussing, I know, but if one thinks one has the nearby figured out, then that's the way to trade. I don't like trading against my friend the trend - even quickies. (For instance, taking the signal on the 13 ema turn in December would have provided some pretty serious pain, but in the end... all is OK, and now its just Buffett 1 & 2. Looking at that chart, I don't know how a swing trader can be long here.