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The rationale is the corollary of what got us to 14,000… the willingness to buy anything; and now, the willingness to buy nothing. The market trades based on levels and the defense or penetration of those levels. If you believe that people aged 12-65 are going to become permanently...

Get your flame-throwers out.

buy everything at 1.55, sell it up 25 cents.

It's absolute statements like the one above that lead those in control of the market to test extreme values. As long as people speak in this way, the market will hurt them. When people give-up is when the pain will be over. Also, and this is slightly off-topic, but anyone who cites...

Start pyramiding at 95. 130 is and has been the level, which is why we’re seeing this move. Many stops in the 120s. Keep you’re average price below 110 and you’re safe. Medium term hold, however.

Don’t be so hard on yourself. The market is the most dynamic social laboratory that ever existed and you paid your admission and learned its lessons for only $10,000. That’s pretty cheap considering that most losers pay 4x that per year to study acting and smoke weed. If you are still...

If it could be proven, the circumstance would be regulated away. Consider the Zero Competition Condition, which states that if an industry has low/no barriers to entry, economic rewards will induce entry up to the point of the returns converging toward zero. This explains why real estate...

Don – how are you guaranteeing that Brandon’s losses are not pooled against other trader’s equity? If you’d get specific on this point, I’d venture to guess you’d quell the pace of this thread. Simply saying it isn’t so isn’t enough. And, you can bet every Bright trader is...

Don't know Brandon Adams. Don't know Don Bright. All I know is what I've read here to today and what Don has confirmed. This is a great lessson for many of the young fish on this site that the phrase, "It is double pleasure to deceive the deceiver" is alive and well. Apparently this guy...

That would rarely, if ever happen. The risk manager would be closing your position for you once down 4-5k, if not sooner. As a sub of thier account, they are in control, no matter if they say otherwise.

Other Misconceptions: Trading is less than 99% random. Jim Simon's success proves that trading isn't completely random, but unless your a mathematician and former government code-breaker like him, it might as well be. Stop listening to curve fitting randomness, "he came on the bid and I hit...

Whether 1/16th or 1/50000th, my point holds: He said he was getting slipped 3-4 cents in the 80s and stocks weren't even quoted on that basis back then! Perhaps next time, focus less on being pedantic and you won't make a pointless criticism.

Uhm - weren't stocks quoted in 1/16ths in the 80s? Christ, you're such a piker.

When the FED cuts rates, the market adjusts within seconds. Why? Because the market knows that the cut will trickle through the market as businesses base thier spending and borrowing decisions on interest rates. Given this, at first glance, you'd look right. Surely, the market would have...

With what money? Real wages are flat-to-down over all timeframes and the risk of a significant decline in the near-term is increased as many, many firms have warned. Home refis are done. Gone. Do you really think that credit cards can finance the gap left by the decreased wealth effect...

huge overseas growth - Growth that will slow with commodity prices hitting all-time highs and emerging markets showing double-to-triple digit gains over the past several years. low inflation - Wait until energy bleeds into core inflation. cheap dollar - yup. And this will help...

The fact that you speak so definitively shows either (or both) your sophomoric understanding of the subject matter or that you aren't actually involved in the game. Those who HAVE positions, or skin in any game for that matter (not just trading), recognize the random element and don't speak so...

Good luck. The day of labor-intensive trading is over. Today, a PM functions are infinitely scalable. This isn't the 80s.

Your method won't be attractive to daytrading firms because they make thier money, not off of trader's P/L, but on the commish generated from the trades themselves (so long as Joe Schmoe Trader is net positive). If your holding time is average 3 hours, you would destroy thier business (the...

This is another great example of people holding this guy up on an unjustified pedastal. Yes, Buffet has been bearish on the dollar because of the trade deficit for some time. Yes, his timing sucked (he was bearing in 87). And yes, he admits it. But, in 2002 (when the artice was...