September 5, 2008
Yelling Campfire in a Crowded Trade
U.S. Stocks Slump, Posting Longest Losing Streak Since January
“Stock-index futures started falling after the Labor Department said at 8:30 a.m. New York time that the number of Americans collecting unemployment benefits reached a five-year high. The selling accelerated as oil declined an hour and a half later. [ed. Note to Bloomberg robot: this sentence can be used when the market goes up by changing the word ’selling’ to ‘buying.’] The majority of the drop occurred after the S&P 500 slipped below 1,261.16, a one-month intraday low that traders said represented a level of support for the market.”
Billionaire Gross’s widely-read piece was also blamed for contributing to the selling.
Cat: | Time: 2:43 pm (utc+8)
September 5th, 2008 at 9:38 pm
Are the red/green lines trailing 3x ATR stops?
September 5th, 2008 at 9:58 pm
Doug: No one knows the exact formula for the Trender but if we ever figure it out I’ll be sure to post it (since about 1000 people have emailed me asking for it).
September 6th, 2008 at 1:55 am
I believe its a form of the Knn alogorithm (nearest neighbor trend analysis)