Afternoon rally

S

Sailplane

IIIIEEEEAAAAA, Im short on dell at $26 & jdsu at $24 & what happens, the stocks rally. Ok,what goes up must come down. Im holding my shorts. This market is not going up!!!!!
 
You'll probably bank in the end, but you'll take a lot of pain first. We're overdue for a 10% run. And tech has had a bid for the last 2 days
 
One should never be so dogmatic in their opinions about the market. Even though I do believe this rally will fail after a few days, it may be a rather strong one.

Always be ready to let the market prove you wrong...

 
I'm getting better at taking a beating & holding to my game plan. I cant beleive how easy it is to panic. Yesterday I was in on the PROX roller coaster
& actually made money after being beat down to the $5 area. I had to shut off my screen for 20 minutes & walk away. What a come back in afternoon. Oh I almost forgot to mention tomorrow is friday, we have not had a decent friday in quite some time. I would not want to be long friday afternoon knowing the naq broke 1800.
 
sailplane... I personaly prefer a more calculated approach.

But if thats your cup of tea, and you have the stomach to handle it... Maybe its ok. As long as you do have some sort of money manegement rules.

For me... The more boring the trading, the more profitable. :)
 
I cant help being a little extreme, and definately cant handle boring positions. For better or worse I enjoy the volitility. Although it can be brutal on the pocket book at times.
 

SOX was +12%, all the go go semis and semeequip stocks were getting bought bigtime, also squeezing shorts. PMCS VTSS KLAC NVLS some favoriate squeezers. RMBS gets a special mention. AMAT and MU helped the squeeze jumping 10+% each. MU especially confused the shorts but not reporting earnings last night, but rather talking up how PC makers have worked through their inventory, i.e. it can only get better from this point!

NASDSAQ decliners beat advancers 3 to 2, most stocks besides semi/semiequip/software/wireless were in the red.

DJIA would have ended deeper in the red if not for Dow components INTC +3 1/16 and MSFT +3 15/16 The strength in INTC and MSFT seemed peculiar compared to SUNW +1/2 CSCO +7/16 and ORCL +3/4

For tomorrow, I would be cautious since SOX is only strong sector and they just had a big move. Also, the IMNX collapse afterhours is another blow to the biotechs BTK which were down -7.5% intraday only to close green by the close. If DJIA can rally tomorrow, NASDAQ might have a good Friday..

Fleance
 
sailpane

Wasn't that what people said when they were long and the market was down. IT must come back up.
Best of luck
 
Sailplane,

It sounds like you don't really use stops, which is playing a very very dangerous game. If all you're doing is taking a position and waiting until you're "right", you won't last long in this profession.
 
zailplane, it sounds as if you do not enter a market knowing how much it will cost you to find if it will do what the probabilities suggest it may do. That means that you have not accepted or yet embraced the concept of markets being random. In other words you have not accepted the realiztion of the trade going in the opposite direction.

Flat out if your entering trades without knowing where the market will prove your edge wrong, than your playing a losers game and will not last long. I strongly suggest you start using stops, just trying to help PEACE
 
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