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Couldn't agree more. If this isn't capitulation with many professionals throwing in the towel and going to cash and millions of retail investors selling out their 401k's then I don't know how we can define capitulation.

You mean papertrading gain because that's all it is until you post a screenshot.

Post a SCREENSHOT OF YOUR POSITION WITH ENTRY PRICE or please STFU!

And 450k? What would you think? Dow approx. 8744? 400k would put the Dow right at 8900 correct? LOL

Europe: a) Monte Carlo (no tax) b) Cyprus (low tax, offshore friendly, English is an official second language) c) Gibralatar (l/no tax) d) Switzerland (low lump sum taxation) Alternative for the adventurous: South Africa, CET time zone, cheap cost of living, English widely spoken in...

Job reports are released every first Friday of the month, not on the 3rd Friday of the month.

The thread title "At the bottom" suggests Cohen had a significant net long exposure. For all we know his traders go both long and short. Being close to a bottom bears little significance when closing out a long/short book and going to cash.

Just be patient. Markets can be a very humbling.

Haha. Turning losers into winners by averaging into the position works great... until it doesn't! Let me guess, you never had a 'near blowup experience' with your averaging down strategy? You will. Sooner or later. We all have to learn our lessons.

Because Webvan or Etoys going out of business doesn't have the same effect on the global financial system as LEH melting down. Not sure why you don't understand this. Weren't you supporting the NY Fed in letting LEH fail assuming that it's "not a big deal"?

Nope, but I'd be careful ruling out a bull market evolving over a longer term frame such as 5 years. Who knows what 2009/2010/2011 bring. I will simply remain flexible and change my exposure as the market changes, like always. Of course, it seems you trade based on beliefs of what the market...

Says who? Some odd-lot hobby trader on ET?

1987 saw a retest in December. 8 weeks later. Didn't go down to the exact low, just a couple % retracement that brought in new buyers.

You convinced me. We're going to ES 1600 without a single downtick.

A retest by definition doesn't mean we have to come back to recent intraday lows point by point. A simple retracement that would at some point successfully bring in new buyers without blasting through the lows of the month would qualify IMO.

Move away from IB, you mean to 'more professional' firms like Bear Stearns or Lehman Brothers? :cool: I have an institutional account at IB. Why move somewhere else when I couldn't be happier where I already am? Peterffy at the helm makes me get a good night of sleep, every night.

Nazz, wasn't gold headed to meet with the Dow according to the gold bugs? Target $8500 per ounce :cool:

Wow, another brutal beating for TIPS. -2.9% on TIP

I just roll over manually. Exit old contract, enter new contract. Not exactly a rocket science.

Crisis over? Probably not. Great Depression II averted (global GDP imploding by 30%)? Maybe.