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Dow Theorist Richard Russell: Sell Everything Liquid, You Won't Recognize America By The End Of The Year
Do your friends a favor. Tell them to "batten down the hatches" because there's a HARD RAIN coming. Tell them to get out of debt and sell anything they can sell (and don't need) in order to get liquid. Tell them that Richard Russell says that by the end of this year they won't recognize the country. They'll retort, "How the dickens does Russell know -- who told him?" Tell them the stock market told him. - Full Text
Originally posted by MrDarlingFace
reply to post by GreenBicMan
GBM I don't use ninja trader or automated things. I am just keeping it simple. I look for the steepness of EMA crosses as well...I mean you have to. The steeper it is the better change you have at being right. I trade on Velocity Futures and I absolutely love their platform. I also use Scottrade to trade stocks and equity options (as Velocity doesn't have a platform to trade anything but futures). Interactive Brokers is pretty good, I just thought it was a little confusing...I didn't like the platform. I never really traded forex, but you can just buy contracts for certain currency pairs like EUR/USD or you can also buy the indexes. I would trade forex but then I'd have to open yet another account with a forex broker. That is the good thing about IB and MB Trading is they have all three in one. I agree with you about MACD and Stochastic. However the RSI is the best out of all of them (if you are trading more than a day trade). The stochastic would come in second. I usually look at emas and rsi the most. I look at smas for major support (like the 50,100,200 smas). I find the smas matter more than the emas for major support while emas are better for short term.
Originally posted by GreenBicMan
reply to post by OBE1
Hard Rain huh?
Wasn't that Kurt Russels last great movie? lol - or was the Keanu?
The whole world is still stunned from what just happened today. In essence, Germany has taken a major step to not only declaring it is the master of the European continent and all those who don't like it can just focus on their own bankrupt banks (Sarkozy), but is breaking ranks with the US, as the surprising nature of today's move was aimed not so much at European "speculators" but at Wall Street. Furthermore, knowing full well it may soon lose access to US capital markets, Germany is likely preparing to abandon the EU and EMU (to which "good riddance" is likely all it has to say). But the key implication from today is that Bernanke must now move with urgency to find a way to keep the pressure on the dollar as he is now solidly losing the currency devaluation race. The impact of this on major multinationals and on the "must do" reflation experiment could be cataclysmic. Additionally, without gobs of new domestic liquidity to prop it up, the US market will now likely collapse, further forcing Bernanke to act against the interests of the US Middle class and America's savers. We can not wait to see what he pulls out of his sleeve. With ZIRP ravaging the nation, and negative interest rates still illegal, he may just find his hands very much tied.
In the meantime, here are some preliminary shocked observations on today's events from Goldman Sachs and Morgan Stanley.
GS' Erik Nielsen:
Originally posted by GreenBicMan
reply to post by OBE1
Hard Rain huh?
Wasn't that Kurt Russels last great movie? lol - or was the Keanu?
Originally posted by GreenBicMan
reply to post by jefwane
Looks like we now know why the DAX has stabilized over the past 2 days.
Someone knew something was up and took full advantage of that.