Dave -
Check your PM. This kind of trade doesn't work well on a Daily chart as the tradable movement has already happened on shorter charts to start wicking the Daily. It doesn't happen very often and is not a trade you go looking for as there are plenty of other trade entry opportunities where one of the confirming indicators is a Daily wick forming.
It was the NDX. I bought time - expiration month was early next year.
I can't ignore the nagging in the back of my head telling me we've seen this all before, that this plunge is being allowed to happen. I can't understand how the computers could lose control of the markets when the PPT / ESF can simply print up another trillion and inject it in. I think we're all being led around like sheep, including us alternative onlookers. Just like when silver was allowed to get up to $50 and everyone was shrieking about how the elites were losing control of the market, then they sucker punched everyone and slammed it back down, the whole thing was an orchestrated show designed to destroy the PM stackers' morale for a few years.
But this time I do believe it is the end, IMO they are planning for the much-anticipated September global crash as the 7 year cycle ends, and this is the prelude to it. I believe they are still in control, up until hyperinflation hits. Then their only control mechanism will be the military which has been training in Jade Helm which ends in a few weeks. So IMO this is not unplanned market action getting out of control, they are letting it happen, just like they let the 2008 crash go down 777.7, which suggests they were fully in control back then too (what are the chances of that happening, about the same as Neo's passport expiring on Sept 11, 2001 being a mere coincidence as well?) But hey I could be wrong since no one outside the inner circle really knows what's going on.
"The latest available Treasury data and estimates by strategists suggest that China controls $1.48 trillion of U.S. government debt, according to data compiled by Bloomberg. That includes about $200 billion held through Belgium, which Nomura Holdings Inc. says is home to Chinese custodial accounts.
The PBOC has sold at least $106 billion of reserve assets in the last two weeks, including Treasuries, according to an estimate from Societe Generale SA. The figure was based on the bank’s calculation of how much liquidity will be added to China’s financial system through Tuesday’s reduction of interest rates and lenders’ reserve-requirement ratios. The assumption is that the central bank aims to replenish the funds it drained when it bought yuan to stabilize the currency."
Source: http://www.bloomberg.com/news/articles/2015-08-27/china-said-to-sell-treasuries-as-dollars-needed-for-yuan-support?cmpid=yhoo
If global consumers are tapped out, just how is China going to replenish?
"The latest available
[iPad issues]
I hope you're not going to tell me Santy doesn't exist!
Santy, what a fantastic peer pressure scam to get people to part with currency they do not have, for crap they do not need.
Jingle bells jingle bells…
That last sentence of yours inspired an observation about a God that creates something, gets into its own creation and then forgets the nature of both its own being and that of its creation. When creator and creation function on the notion of an inherent and natural unity, I believe we have a harmonious creation. When that knowledge is forgotten, we have a fundamentally split brain that sees separation instead of connectivity.
More and more however, we are beginning to see thoughts that see systems and people as being connected rather than separate from each other, and this web site is a good illustration. And going by the notion that every destruction is a creation, I quite simply think that we have run out our tether which started the evolution of modern man a long time ago, and I see a fork in the road at this point.
I think it is way too late to save our existing systems, and I for one, would welcome a reboot. But I would painstakingly define what that reboot is. It has to be truly revolutionary, something that has never been done or tried before. Or rather, that something that has been tried by the few individuals throughout history, is now needed on a massive and global scale. Yes, I am talking about enlightened self-interest and individualism. And no, I am not talking about Buddhas or Jesuses, but rather individuals who steadfastly work upon themselves first and foremost, that do not seek to intervene in the affairs of others, unless specifically asked to help.
Strong individuals are leaving the systems. The weak ones will collapse with it. The strong individuals will then come together to build improved and better systems, based on the lessons that we are learning in this current cycle. With self government, big government becomes redundant, the military is kept only for self protection. An enlightened population will spell the death of snake oil salesmen and various manners of scam artists and charlatans. Utopia? Sure! But then… The universe is more than 14 billions years old. The human race is a blip on that radar. I think we have barely begun to get out of our diapers.
I believe that there are moments when nature makes a call - grow, evolve or quite simply get out of the game, and I think we are in such a moment. 10 years ago, my old self would be freaking out and panicking. My current self however, is calm and sees myriad opportunities.
Mikkel, I am glad to come across a fellow traveler of the Tao. 