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Because some well-known folks on this site keep trying to short this market!

I still believe this is a bull phase.

1 Thes 5:16-18.

Please stop! ;)

This is acting like a wave 3 now (which started Friday).

C/mon, man! It's not a day to fight this. At least not yet!

Now the bull move is self-evident.

So you're going to hold losing positions until then?

Well, what is the market telling you?

Face-ripper continues.

C'mon, man! I give you some support and then you gotta double down. SMH. :banghead:

All the stuff you read in all the TA books, patterns, etc. Many technicians are good at telling you what the market did or is doing but are not good at all at forecasting where it is going. That is why you have to think outside the box when you read all these TA books, etc. And on the...

I just made a note that a 50 point drop would be ideal but you're looking more longer term than usual! ;)

Best advice I can give: 1) Conventional TA isn't that useful by itself. 2) Don't underestimate your ability come up with new indicators or improvements to existing ones. 3) Multi-Time Frame TA is more important than most technicians discuss. 4) Combining indicators (and time frames)...

Hit some ST resistance, ST overbought and breadth wasn't great, even on the S&P 500, for a 1%+ day. Should learn a bit more about the market and how it responds to those conditions.

Marty Schwartz? Kovner has to be in there. I think PTJ was a great trader but he seems to be more into the intellectual discussion now. Is Soros still trading or is he more interested in his "open society?" Gotta give him props, though, for some of his big trades of the past.

I like @KCalhoun. He's a good guy overall. There are some aspects of trading he does well. I'm not going to take shots at him. If he did some deep inner work, he could avoid trades like this.

FWIW, I'm seeing ST overbought going into the close so understand @schizo's positioning.

Seems more like an "ego" trade than one based on analysis.

I hear you -- but for me I don't believe that price action is sufficient, especially with the stock market indexes. But I don't put too much "stock" in any one thing -- I just believe it's how one puts everything all together with a proper mindset and a little intuition. At the end of the...