Recent content by c4ytan

Every board I go to seems like everybody's calling for a selloff to happen next week because opex day is done. Given that I am short going into next week it worries me that everybody's calling for the top.

I have averaging down built in to my system but with two strict criteria - Do not average down if your position is going against the major trend and only average down if you are trading the market and not any individual stock.

When I was reading the sections on BP Capital in the book "Hedge Fund Masters of the Universe", the thought came to me that this fund is gonna get it real bad someday. Their approach of sticking to and increasing losing positions as long as they strongly believe in their positions is a recipe...

To whoever it is who lost money trading... consider it a blessing you lost money trading and just charge it to tuition. The best lesson the market can ever give you is the knowledge that you're not invincible and to respect the market. Now go back, review your trades and examine why you lost the...

That plus the fact that we were overbought and everybody was getting too bullish.

You have to decide whether you're a trader or an investor. If you're a trader, go with what the market gives you... don't try to justify your views about the market. If you're an investor, you have an investment thesis for taking your positions that you have to examine whether it still...

My gut feeling with the jobs report is that unless the the number is hugely abysmal, and I mean huge like 800K... it is inconsequential. It's a lagging indicator anyway. Market lately has been discounting all the bad news, wants to rally and is looking for any gunpowder it can find.

QQQQ has closed in the green for the last 4 trading days. I just checked and the last time this index closed in the green 5 trading days in a row was in 2007. Then again, the last time I heard this argument used was in Oct 2008 where somebody said QQQQ is not likely to close in the red more...

Div speaks the truth. Nothing can replace having a job that provides a steady stream of income. Why do you think a lot of traders become vendors and sell systems instead of trading. 90% of traders don't make money and quit. Jesse Livermore once said that one should never expect to get money from...

I have no clue about the markets in the 80s but accdg. to Maggie Mahar's book "Bull", during the 80s, the public did not want to have anything to do with stocks which marked the beginning of the greatest bull market run in US stock market history. Basically, the implication was bull markets...

I tried to read the prospectus.. http://www.direxionshares.com/pdfs/DRX_prospectus.pdf but I can't seem to find reference to my question. Can you point me to the page that talks about that as well as the stop losses that you mentioned?

hi, Apologies if this question has been asked before and I missed it.... What happens if Russell 2000 index goes up 40% in 1 day and I'm holding TZA (3x Inverse ETF). Does that mean TZA goes to zero or -20%? What price does TZA open the next day? Thnx.

I'd like to know the answer to this myself.

I think types like Sykes are exactly what's wrong with Wall Street... greed, arrogance, insensitivity... the whole works... I can see how Brett can rub people the wrong way... it's called "envy". I know... I felt envious too... 28 years old and managing a $100M fund? WTH!? But give the man...

From what I heard, WSW Season 3 was wrapped up but no cable was willing to pick it up so that series is pretty much over.