Friday, 12 November 2010

Hard Hat Time?

It's 9.30am here in France and I woke up this morning looking for my hard hat. I went to bed last night thinking that we have had good news but bad action. Mark Fisher was interviewed on CNBC a couple of days ago and he was very pessimistic. I've also seen a few commentators beginning to think the same. The last time I was thinking this was in April 2007 when I sold my properties. It smelled wrong then, but I didn't think it would be as bad as it became. This feels different from then. I'm a little antsy but can't put my finger on why. 

There are more people getting into our business every day. I don't know whether it's because they have to - unemployed - or because they can see something is coming. The markets are providing more opportunities than ever. There is a lot more education available to learn how to trade, although as in anything, caveat emptor, buyer beware. It will be very interesting and I hope rewarding seeing this all unfold.

The Euro was doing it's thing again this morning. There is a lot of volatility = opportunity as you can see. The range bars make sense of it all.


  1. I see you use 1.27 fib retracement quite often. What about the 1.27 fib extension? are these less reliable? thanks! m.

  2. Anon:15.15, they are all extensions. If you mean are the longs as good as the shorts then the answer is "yes" in context.

  3. If you're a little antsy and can't put your finger on it I'd say you're sensing that risk is heightened. As a trader it's a good sense to have. As they say, flat is a position.

  4. Hi E, I have to agree, i feel something out there is not right. By the way I had a great time @ the seminar in Chicago.

  5. jenrique42

    hace unos dias mande un comentario con mis trades y mi plan financiero, pero no lo he visto publicado, es por algo en particular