there have been a lot of good shorting opps....NGEN, ZIXI and RIMM. I have made money on bothsides as a trader this year, however, just shorting to short because one thinks the overall market is gona tank is not smart...or going long because on thinks the overall market will rally is not smart either(if your not trading futures).....you gota choose ur trades very careful because there is a lot of crap out their.
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A few reasons why I am shorting this bounce
- Thread starter Trend Fader
- Start date
The whipsaw continues and I am using this to my advantage. Yesterday was a good day to fade. Looks like the market has found a lot of resistance at this level.
Most people on this board thought I was crazy for fading yesterday... truth is on day intraday has little effect on tomorrows action.
--MIKE
Most people on this board thought I was crazy for fading yesterday... truth is on day intraday has little effect on tomorrows action.
--MIKE
Quote from waggie945:
For what it's worth, the IWM was +1.85 yesterday.
Today, the IWM is -0.69
I hardly call that making a ton of money, especially if you "scaled" into your shorts. Let's be real here, please.
Dude.. I am short DIA, IWM, SPY, MDY. I never said I made tons of money yet.. But so far so good.
The difference between me and you is that I anticipate moves and trade them.. you just come on my threads and cheerlead the market everytime "after" it already has gone up. When it goes in my direction and I make $ u down play it and crawl back into your hole.
If the market tanks tomorrow and makes me decent profits u probably wont post on this thread until we get a bounce.
I anticipate moves, react to the market, always scale because I am not perfect.. and always begin to scale for profit when the market goes my way.
When the market is an uptrend I still fade the rallies after we make new highs and I buy the pullbacks as we hit support.
In a downtrend.. I fade the pops into resistance and buy the fresh lows and market tanks. I always play both sides of the market regardless of what the longer trend is.
When we are in the beginning stages of a bull move like last year.. I am much more cautious in shorting the rallies and towards the end of the bear market I am much more cautious shorting the pops.
I usually make most my $ in a range bound market... which is most of the time.
--MIKE
But I believe that you have been the one that has frequently come on ET cheerleading your "fade" trades ( up until now ) on down days, only.
Since you have already told me via IM that you are using $30,000 of capital to trade with, I find it difficult to believe that you are short the number of products that you say you are in your last post.
As I have noted on other occasions, your capital would only allow you an unleveraged short of 250 shares of the IWM.
Good Luck.
Since you have already told me via IM that you are using $30,000 of capital to trade with, I find it difficult to believe that you are short the number of products that you say you are in your last post.
As I have noted on other occasions, your capital would only allow you an unleveraged short of 250 shares of the IWM.
Good Luck.
Quote from waggie945:
But I believe that you have been the one that has frequently come on ET cheerleading your "fade" trades ( up until now ) on down days, only.
Since you have already told me via IM that you are using $30,000 of capital to trade with, I find it difficult to believe that you are short the number of products that you say you are in your last post.
As I have noted on other occasions, your capital would only allow you an unleveraged short of 250 shares of the IWM.
Good Luck.
I am not gonna start a pissing contest over how much $ I actually make.. the exact amount is private... But I will discuss the market direction and different techniques on how to make $.
I would like to hear your opinion as to why the market is down today.. is it simply profit taking? Dow wiped out almost all of its gains yesterday.
-MIKE
Quote from waggie945:
What does it matter?
Your methodology has nothing to do with the dramatic rise in the dollar, the bond market tanking, or Greenspan's comments today at the New York Economic Club.
So why would you even care?
You are just reporting todays news. The question is based on your research and methods.. is the selling going to persist for the next few days.. or is today a blip?
Instead of always coming out and stating the news and telling everyone what has already happened.. I would like to know your short, intermediate, long term outlook of the market?
What does your research tell you? I am not interested in hearing about how the dollor is rising.. I can read that on bloomberg.
--MIKE
WAGGIE wrote today at 2pm..
"Mecro . . .
Take a look at the chart pattern of NSM.
I know that your niche is trading the Big Board names, and NSM has a real nice strong pattern to it."
OK lets follow one of your ideas. The stock is up over 10% the past few days and today you come out and state its a strong pattern... gee kinda like after the fact as usual. Much of the move has been missed already and it looks like it due for a short term pullback. Any professional trader would not buy NSM at this point.
Risk to reward is poor.
Lets see how it does over the next few days.
"Mecro . . .
Take a look at the chart pattern of NSM.
I know that your niche is trading the Big Board names, and NSM has a real nice strong pattern to it."
OK lets follow one of your ideas. The stock is up over 10% the past few days and today you come out and state its a strong pattern... gee kinda like after the fact as usual. Much of the move has been missed already and it looks like it due for a short term pullback. Any professional trader would not buy NSM at this point.
Risk to reward is poor.
Lets see how it does over the next few days.
It doesn't matter what anyone thinks about the market, nor does YOUR thread about "fading" new highs, old highs, current highs, or whatever . . . because you have already admitted that you have no use for "patterns or cute little charts" in your analysis.
Since members of ET have no idea what your trading "methodology" involves other than stating that you use the VIX ( which obviously has been a horrible indicator the past 8 months ) why would Greenspan, the Bond Market, the Dollar, or anyone else's input make a difference in your methodology.
If you really wish to add some value to this Thread, rather than the "chest-thumping" that you routinely involve yourself on down days . . . why not start up your own JOURNAL thread, with specific recommendations, stops, etc.
That is what Journals are for on ET.
That way, you can share your opinions without having to address the lack of a "methodology".
Since members of ET have no idea what your trading "methodology" involves other than stating that you use the VIX ( which obviously has been a horrible indicator the past 8 months ) why would Greenspan, the Bond Market, the Dollar, or anyone else's input make a difference in your methodology.
If you really wish to add some value to this Thread, rather than the "chest-thumping" that you routinely involve yourself on down days . . . why not start up your own JOURNAL thread, with specific recommendations, stops, etc.
That is what Journals are for on ET.
That way, you can share your opinions without having to address the lack of a "methodology".