MP Spoos Feb 2nd
Do you think that the market would have sold off this drastically without the "heighten security alert" rumor that passed through the markets today? I admit that I thought the market would recover later on but it didn't which seems to indicate that your analysis is right and perhaps the rumor was the catalyst for the market to find new value lower which is where value really is.
Don't think the rumour had anything to do with it. I believe it would have happened anyway. Fundamentals will always be assigned after the fact and so if it pleases you to make a correlation in that respect then thats fine but just as soon as you have compartmentalised that then return to the price action..... and the unfolding/emerging in real time.... the one.... the only.... all encompassing.... all telling.... MARKET PROFILE. applause
PS. I think I tell you in advance don't I. The trick as always is how to position one's meagre capital to take the maximum advantage at the right time without getting involved in the noise
I have to agree with you. The developing value area low was touched twice during that particular afternoon and both of them were perfect long trades.