Stock Market Intraday Chat: Apr 23rd - 27th - Page 20
Happened many times to me my friend. Sorry to hear that!
Thanks Ichi. There should be a way on ToS to make GTC a default setting. I'm showing 1.0118 as next support so I dropped 2 ticks under that. Now I got a red candle to boot. When it rains it pours.
This is the start of the may fear and will rear its ugly head on a trade near you.
im not going to call a top but i think were done or very close to it.. too many issues and head winds.. If we
dont decline tomorrow its due to the BOJ intervention and then will be postponed until next week. .. or i suppose earnings will save it huh? .. doubt it forex is more powerful than anything else in this market. Also the downgrade fro spain will cause yeilds to run even more.. so for you longs GL.
forgot to mention.. that the EPS expansion we had and got alittle ahead of things, inst justifying itself across the board on all stock so we might see some re-evaluation .. when keep in mind EU has not had a expansion but a contraction in this area, all i need to do is point to mondays data if i wanna be simple about it.
here's how i think it'll go down. If gdp is good tomorrow, then through next week things are going to be pretty golden. no major economic news coming out next week, still earnings coming out, and earnings have been good for the most part.
if the gdp number is bad tomorrow, then tomorrow will be red, and i have no idea how next week will go.
Two big questions, the answer to which will help me personally quantify the downside I think is available near-term ... just the downside that can be derived strictly from the Spain downgrade...
2. Did anyone really believe that Spain's credit rating deserved to have the letter A in it?
The other thing that struck me about today was low volume and a similar pattern as what we saw during the first 9 or so weeks of the year, lows very early in the day session, then several legs up with lots of low volume chop in the middle of the day. That doesn't mean that I'm expecting to go straight up from here, but I like the upside so long as we can hold about 1381 into tomorrow.
I believe everything usually is baked into the price. But that drop was quick and I knew something news related hit. I just watch to see how extensive the selling can get in the short term. I don't think it will be something that will ultimately take us lower. I never pay attention to news until something randomly hits. It's going to bite me in the ass one day.
We chilled sideways for a bit and sucked in positions before blowing out stops to that 1387 wall of buy orders.
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