10/21 8:42PM Dow Futures Down 107 Points
- Thread starter MrDODGE
- Start date
Yes, 1 in 1000 makes a fortune, the rest you never hear from again.
I think you can only talk like this because you only trade on paper. No one in his right mind would buy this 'dip' just like that. This may be the start of a serious economic breakdown. At least wait till you see some signs of improvement.
Btw. you already lost about 750 points since last top, that is 3750 dollars on a 2500 margined YM contract. A loss of 150% on your investment. You call that trading??
Ursa..
If it was just as easy as looking at the futures and then knowing what the market would do we'd all be billionaires.
by your own admission you weren't around the last time we sold off. Trust me when I tell you this, entire floors of people just like you disappeared after 1987 and 2000. Some of them even knew what they were doing. Didn't matter. If you don't know how to sell the market as well as buy, you're dead meat
Well said. For those of you who don't know how to profit in down markets, i'm going to do you a huge favor. I'm going to refer you to another thread where huge $$ were made last week, and huge $$ will be made this week on the very tradeable ideas in this following thread.
http://www.elitetrader.com/vb/showthread.php?threadid=90873
Before I joined here, I used to occasionally have the thought that rallies after big declines would happen because too many people were short, had made money being short, and were as complacent as longs would be after a big rally.
After having hung out here for a while this year, I'm convinced of it.
The decline over the prior 7 trading days - the shortest time horizon I study - isn't even an abnormal movement for a 7 day period. Looking at these threads, you'd think we'd already had a major decline and were bracing for worse - which is what the Friday before the real Black Monday was like. There had been a real decline back then, and the feeling of true panic was already there. On Rukeyser, when Marty Zweig was asked if this was a crash, he said "Yes" without hesitation.
This is just a bunch of shorts getting too cocky on an unremarkable selloff.
After having hung out here for a while this year, I'm convinced of it.
The decline over the prior 7 trading days - the shortest time horizon I study - isn't even an abnormal movement for a 7 day period. Looking at these threads, you'd think we'd already had a major decline and were bracing for worse - which is what the Friday before the real Black Monday was like. There had been a real decline back then, and the feeling of true panic was already there. On Rukeyser, when Marty Zweig was asked if this was a crash, he said "Yes" without hesitation.
This is just a bunch of shorts getting too cocky on an unremarkable selloff.