The two days of response from this forum did not yield the answer to my question. Then in a way it did offer a different answer to the same question, but not a question asked.
How do traders, large and small, I throw in the large traders because I know several and interview many more. Most rely on the technical side of the market, and fundamentals are mostly obtained from the media. Media that reports what they really know nothing about, but they report anyway. Kind of like waiting breathless for the next unemployment number, or whatever flawed report that is issued. None are really researched only presented.
OK, with that said what is a trader suppose to do to determine strength or weakness of the market they choose to trade?
Maybe it is a non issue to many that consider themselves as traders only. However think back at the calls I have given on the market since 98’. Very few over those years, and the answer is simple.. Change in the trend “major” trend takes many years to develop. Yet the forum, and it is certainly not a bad thing, are looking for answers daily. Trading commodities or stock successful does not need to be a daily activity. As proof I believe much has been written on the very high percentage that lose money.
The reason my calls have been different than others is that although I will also look at the technical position of the market I study the underlying stocks, or commodities for change.. Not technical nor media spin. That is now I was able to clearly see a major uptrend at its’ beginning of Dec 98’ not later after the major move had already taken place. Then10 years later pointing to the top in Crude while trading at 145/147.. Then the buy of stocks Mar 2009. I think Trades, for one, remembers that date Mar 09’and my comments clearly. Thanks Trades.
I hope my comments above explain the reason for my question yesterday. I really wanted to know if ANYONE could see a significant change at occurred yesterday different that market breaks of the past. Review of the answers No.. and again that is not a bad thing, but it explains two important things.
One why so many lose money trading, and secondly why so many are blindsided.
The market will not change because those that trade the market will not change.. Scary, but true.
Thank to those that gave answers to the question.