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Post by walnut on Oct 1, 2016 14:55:22 GMT -5
probably a market drag on Monday
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Post by huh on Oct 2, 2016 8:40:00 GMT -5
Seriously? Even after all of that anyone still believes any stock can be traded based on what the media is saying?
DB's trading volume on Friday was the highest ever in its history, 10x's the recent average, and it was up more than 14% on the back of some of its worst news ever. Shorts covering? Definitely. Only a dead cat bounce? Most likely. But short it right now? No way. Not until that pivot low now fails at least the highest support, or pps hits at least the lowest resistance.
Ignore the news. Trade the charts.
JMHO
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Post by huh on Oct 2, 2016 8:44:37 GMT -5
When it comes to short term trading at least, "Remember the Brexit" I was bullish during that news as well, and if you recall, sentiment was horrible at that time even while the market was rallying. But there was no way anyone could buy that, right? The news was simply just too bad. I haven't seen one piece of fundamental news to have caused this rally. In fact, many in the media apparently calling this only a relief rally because they can't explain it. Now imagine what would happen if some good news were to come out, even if only a false rumor. .
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Post by walnut on Oct 2, 2016 8:55:06 GMT -5
I wouldn't be messing with DB anyway, just looking forward to a positive market on Monday, prefer no more shocks to the market from those crooks. Glad you're doing well with DB though, nice work.
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Post by huh on Oct 2, 2016 8:56:09 GMT -5
Although I think the top is very near, and sentiment will likely be a heck of a lot more bullish than right now when it does top, I'm not saying to always trade inverse to the media or sentiment.
Instead, I'm simply saying,
Ignore the news. Trade the charts. When it comes to trading, the media is definitely not your friend.
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