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9/20/05: The Only Direction To Trade Is...
- Thread starter EtfTraderLives
- Start date
Quote from EtfTraderLives:
Anyone think bank stccks looking crappy?
Bank of America looks pretty overbought. Trading $44.17ish... not a daytrade... .more like position
$45.36 last.
Financials and the BKX continuing their strong rally.
They love the 10 year auction!
http://finance.yahoo.com/q/bc?s=^BKX&t=5d
With the hedge fund constituency growing to over a trillion dollars, I wouldn't be suprised to see much more volatility in years to come. Insurance and mutual funds make money when the market goes up, hedge funds go both ways. The bias is still for the market to go up, but I think the growth of the hedge fund market could create more sideways trading environments in the future.
i sure wouldnt want a system that kept me on the wrong side of the market so often. even if you eventually win the pain of holding through these drawdowns is not worth it.
Very true.Quote from vhehn:
i sure wouldnt want a system that kept me on the wrong side of the market so often. even if you eventually win the pain of holding through these drawdowns is not worth it.
Buy those dips. Even if it hurts (but find some good stop places, of course)
If you lose on those trades, do it again, and again.
Rinse, wash, repeat...
The secret is to not always use a large portion of your account (but sometimes you have to). Just a nibble, done every drop-pop cycle, will get the job done!
Good luck all.
C
Quote from lkh:
Well the GOOG play is down 50 points now. The QQQQ play is down big. I suspect we are due for a pullback soon but I wonder how smart it is to have stayed short GOOG and QQQQ in the face of the strongest move in the qqq in years.
Almost 60 points down in a GOOG short now. That has to be some kind of record. Shorting monsters without any kind of money management plan is a good way to become poor in this business.