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Anyone out there who understands steel company fundamentals care to comment? Does not seem like their earnings can support a $65 or $70 stock price even if this recovery is the real deal.

Frankly, I do not know any more about fundamental analysis than I know about the Gobi Desert ... which is zero. While the chart on X still looks fabulous (maybe better than ever) can someone, anyone, tell me how in hell this stock is worth even $50 a share. What is the pitch for getting...

Perfectly correct. And it will draw upon very established choreography that has been seen many times before. Thanks for the reminder.

When people on ET say "My model" do they think we believe that are actually modeling in a sophisticated manner or do they understand we know they are inserting their thumb up their ass and judging the markets liquidity by how brown it is when they pull out. Jesus, the more wrong a guy is on...

Read: Reminiscences of a Stock Operator ~ Edwin Lefèvre (Author), Roger Lowenstein (Foreword) There is substantial attention given to how one trades at market turns. And a substantial effort to explain and illustrate the importance of General Conditions. It is a classic ... or more...

Rabbit ... You need at least a bit of substance to make it a post worth reading.

Imbecile ... that is what general conditions are. They are not "normal" conditions they are the backdrop the prevailing conditions of the moment that are so important no one should ignore them. The Civil War (any major war), famine, pestilence, depression, inflation these are the types of...

For those who know NYC there was a bar at the front of the Spring Street Restaurant with a window that had a great view of West Broadway ... sort of ground zero in SOHO. Before it was well known in NY, Origins (cosmetics) opened a store across the street at 420 West Broadway. The store had...

Amen.

Since 80 or 90% of the battle is competing internally (with ourselves) as opposed to externally it becomes much more about not being the random idiot than looking for one to compete with. If by trading you mean intraday than you need to be in VERY liquid instruments. If you are using longer...

I just don't get how people fail to understand the reality expressed below. We need to let prices fall so that a vibrant demand renters the housing market. Somewhere -- 10%, 20% maybe even 30% -- down from current prices significant numbers of people will be willing to buy. Let's let the...

Rabbitone ... As I said in the post right before your arrogant lecture, those are simply general conditions. Easy to see and react to. A rigged market by definition is one in which participants are doing something surreptitiously. By your standard the housing market has been rigged for...

What you call an artificial prop-up (I am not suggesting there is not a subsidy in the markets) is best viewed as simply GENERAL CONDITIONS. These are the times we live in. This is the backdrop we trade with. Fighting general conditions (as Jesse Livermore would say) is a bad bet. I too...

Change brokers immediately. Unless you are trading at midnight EDT or another crazy time something is horribly wrong. NQ is a liquid contract on five and ten lots for sure and frequently on much larger size.

Why would thinking that a stock has come too far too fast lead you to short it? Have you not payed any attention to the risk/reward ratio of such shorts? My God man, there are legions of ruined men who woke up to think that shorting overpriced stocks is a good idea. Wait till the damn thing...

Can someone enlighten me about the concept that huge liquid markets like ES are rigged? I'm not suggesting that big players executing huge orders can't push the market around in the short term but over longer time frames where is the "rig". Do those that believe in this concept think those...

Maybe how a nation runs its economy relates to whether it gets to continue to issue the reserve currency? The day the rest of the world loses confidence in the US dollar and opts for an alternative currency or gold is the day we pay the piper. So the imbeciles don't jump on my terminology...

Doesn't this statement take it two steps beyond craziness. I am no "free market" extremist. I believe we do need an FDA to approve new drugs and airline safety needs some government supervision but if people want to buy and sell things, fix them up or not ... WHY DO WE CARE?

I agree 100%. Who cares if they flip or not. It is neither good or bad for the market it is simply a facet of the market.

The explosion in the debt/GDP ration during the '30's was a result of the crash in GDP. We may well see that in coming years but so far we have not seen that. You are presenting a chart of then without the comparison chart of now. If you had a current chart you would see that there is no...