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Extremely low earnings expectations ... lowest since 2001
Bad Ism Print... biggest drop since 2001
lowered gdp expectations
drahgi, even if he does lower rates and drop deposit rate to zero isn't going to do diddley and is already priced in , so he can't do anything alone...
with bank scandals coming out fears will build on who is next shoe to drop and probably some angry customers bailing, if they are using any of their funds for crazy bets we will know soon...
Anyways , Market's pricing it in now, so they will have to appease the addicts with their next fix or pay the consequences....
1420 or 1220 ... up to the clown brigade..... Anyways we will see qe's for years, doesn't matter, we're screwed
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
Not sure how much I really care about ISM. Isn't that the one where they call 100 people and ask them if they are buying copiers and computers and staplers for the office? And if the office manager says no, then the entire global economy panics?
LOL j/k. Or am I...
So for those that believe QE3 will happen imminently, are you BTFD on every pullback right now? And once QE3 is formally announced, you continue to ride the wave or do you exit? Based on the prior QE's, it's simply a BTFD scenario and not try to beat The Fed because they have bigger printers and more ink than you.
1370 on ES is at the top of the recent range. It will be interesting to see if bulls have the strength to move us above 1420 and out of this range.
and if none of the rumors are true , fasten seat belts
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
Platform: Sierra Charts, Investor RT, Ninja Trader
Broker: VanKar
Trading: NQ
Posts: 520 since Sep 2009
Thanks Given: 583
Thanks Received: 1,248
I think the bigger problem for the economy is the end of the year financial changes that take place unless Congress gets its act together (what is the chance for that?). Unless Congress acts, the Bush tax cuts expire and there are forced cuts in defense and some discretionary categories. And of course, there will probably be a debt ceiling debate again....it was that debate last year that resulted in the end of year fiscal cliff we are facing this year. Congress can try to change the law, but in this harsh political environment, that will be difficult.....People hear about this, but I don't think they really understand it....to busy going to the lake, and so forth. The next several months will see wild times I think......
My focus is on:
1. Avoid the opening chop.
2. Honor stops
3. Ensure reward > risk on all trades
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
The ism report that came out was manufacturing ism report
today is non - manufacturing report
The ISM manufactoring report definition per Bloomberg
Definition for non manuf. ism report
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter
"Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter