tonight, tonight, tonight

There is overwhelming nervousness about the Euro situation in the Irish news today. I heard something from a senior Irish political figure last night. He said “the Germans are not going to send any more money and a train crash is about to happen”. He may have meant that purely from an Irish perspective. Maybe…

why support becomes resistance

I am reading reminiscences of a stock operator for the umpteenth time. There is a lot of great information there however this one sticks out as something I have learned this time around. It can be seen as a follow up to the support and resistance levels observed in the post called the most hated…

staring down the barrel of a gun

A commentator on TV said recently that trading the financial markets is like playing with a loaded gun. I am trying to do this without accidentally shooting myself. In this game there are many rules, some of which you do not yet know. I read that “only when you have found every way to lose…

the most hated rally ever

This has been dubbed “the most hated rally ever”. Here are my thoughts on what happened late last week and what I am looking for this week. It is difficult to think of Friday as a real trading day as it was a holiday and there was only half the normal volume. I felt tired…

violent market swings

I got up at 7 AM this morning to take a look at the DAX as it opened. A lot of the moves are in the overnight sessions at present and today was a good one. I had a bias to the upside for today suspecting some sort of relief rally could happen. I read…

run it up run it down

I was watching the DAX all day as I usually do before the opening in the US. It had opened at 6100 and fell to 5800 and was -5% (61*95). This struck me as odd since it was so bullish yesterday on the resignation of Berlusconi but today the markets were afraid (- afraid they…