|
PureBytes Links
Trading Reference Links
|
Thank you for your comments. If we all agreed there would be no one to take
the other side of the trade. And heavens know I make my share of bad trades.
This illustrates how two completely different approaches to technical trading
can give completely different results. I use oscillators very extensively
particularly MACD and OBTR (which is lacking in MS) but I can understand where
you are coming from. I mix fundamentals in with my charts and it is my belief
that further escallation of the dollars value will create problems. I noticed
Bill Siedman on CNBC today said he thought the Yen is close to the top of its
current run. Bill has made many astute predictions in the past on this
channel. Anyway, may the best indicator win.
Bob Doeden
Chicago
-----------------------------------------------------------------------------------------
Al Taglavore wrote:
> Good afternoon Mr. Robert Doeden.
>
> You wrote:
>
> Some comments about markets I'm watching:
>
> DOLLAR: Dollar index peaked on 8/6. Corrected to 50 day
> average and ralleyed back about 50% of the drop. MACD &
> OBTR are both indicating that the rally will fail. Look for
> purchasing opportunities in the Swiss ,Mark & Yen.
> ................Comments by others on these remarks are welcome.
>
> Bob Doeden
> Chicago
>
> I do take issue with your analysis of the Dollar index. On a weekly chart,
> if I draw a
> trend line from the low of 11/22 (85.24) to the low of the 5/23 correction
> (92.65), I see
> that the Dollar is trading well above its Sep contract trendline. From the
> 5/23 low of
> 92.65 to the 8/08 high of 101.68 I have set a fibonacci retracement grid.
> The recent
> correction barely touched 38.2% line. As of 9/3, we were at the 23.6%
> level. Also,
> the recent correction could not take out the 5/2 high of 97.03 which began
> the last
> correction. As an aside, 9/2 ended a downward correction with a close
> above the 10
> day sma of the median (average) price. Everything I have written is taken
> from the
> chart, and the direction looks NORTH to me.
>
> This is what makes trading futures so interesting. Robert, when you go
> long the Mark,
> I will be on the other side of the trade.
>
> I have only been on the "List" for about three weeks, and have read several
> of your
> posts with interest. I would invite you to read the new issue of Futures
> which has
> an article concerning the T-Bond and trading bands. In defference with Mr.
> Bollinger,
> I have allowed the price to determine the bands for the last three years.
> This tells
> an interesting position from a trading view. If you read the article and
> do some tests
> with the h/l bands (I also include a median price band), please posts
> results and
> thoughts.
>
> Al Taglavore
|