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If you were able to build a successful trading system based on those cover magazines, then congratulations. Those studies are biased, to start with. They want to prove a point and chose only those covers that do not work. By the way, I am also a contrarian and I believe that the cover stories...

Bingo ! Same as the casino. Casinos have a tiny but sure edge and they make money on the high number of bets/transactions. Same in trading. My best system which is up 48% fot the year is only 56% right (profits) and profits/losses ratio is just 1.17. But the combination of the two makes it a...

You are exactly right. It is another myth. Yes sometimes they are wrong, sometimes they are right. I do not think one could build a successful system based on this theory that the media are always wrong. But people like those myths, and they see only what confirms their bias.

Yes, pretty much as expected. Volume should start dropping now ahead of the hollidays. Market participants seem happy with the current markets levels. Unless something big happens we should expect little moves from now on. But the markets are often surprising, so I will keep my eyes open and...

Yes, just surprised that BlueStreek has not posted another 200 points loss in the Dow !

I guess it applies only to day trading. With swing trading, because of huge gaps overnight, stop orders just do not work. Ask anybody long NFLD yesterday nigth. They wake up with a nice haircut of above 50% ! The only way to overcome those big gaps is to have a limited amount of capital invested...

You've got that rigth, HG. I do not know if BlueStreek does it on purpose but he tells us very well what is in the mind of a losing trader ! (On average, because nobody is always wrong, with the law of probabilities !)

The beauty of our society is that you can claim that the poll is stupid, that Thorn should do that and what not ...........and that you can elect not to look at this trhead !

You are definitely up to something, Hels, with the study of the psyche of other market participants. However, I doubt you can build trading strategies on what BS thinks of the market and his calls. I am more interested by quantifiable statistics such as the VIX and the VXN for market sentiments...

Although I agree with you that a "prediction" can have value for the exchange of ideas and methodologies, I have not seen much of a methodology from BS, except "the market is falling 200 points" or "I told you so, morons." Then we are left with the entertainment value. Not so bad but I have not...

LOL :D

And what it your unrealized P&L, may I ask ? You remind me too much of a beginner in 2001, ME !

Forget it, Sell more. New resistance 12530. Oh this is a new historical high ! Maybe there is no resistance ?:D

2) New resistance at 12520 !

It was a good fight ! But I guess you were wrong.

Eh , satchel, no need to educate all traders ! :D On the other hand, some will never learn, even if you try to educate them. So no risk, for that matter. As the say goes: "Do not try to teach a pig how to sing. You are wasting your time and you annoy the pig !

When something is too obvious, it significantly reduces its probability of actually happening. It looks to me that the "Sell-off" will be anticipated at the end of 2006, or the "new money" will mark-up the market early 2007, squeezing many shorts. But this is why we have a market. Different...

I do not think it is very important to know the reason at this point . What is important to know is that the current mood of the market is very positive. So , somehwat, the news are seen as good. The mood of the market is more important to know than interpreting its reaction. I will always...

Sounds like a stretch. I do not remember the market tanking because the dem took over. Why would it go up now IF that changes. Some good earnings report, a lot of so-called "smart money" short, a consolidation at record level, a year-end positive bias and here you have a breakout after many days...

Squeeze, baby, squeeze ! Just how much and how long, those are the questions. Have not heard much of "told you so, morons" from our friend here, lately.