any bulls still out there?

Quote from krazykarl:

bird flu?

hurricanes?

Iran?


my lack of expereince is showing - i don't buy any of the above as reasons for this selling. the only stretch is new bir flu information, but i don't know, it doesn't feel like it's enough to cause this pump-and-dump stuff that's going on.
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Yes SPY is still below 200day Ma,;
DIA & XLE above.I think Iran probably helps oil -gas stocks.

Bird flu news story seems rather unlikey to casue more selling;
mainly caused by improper sanitation, chickens crammed together like sardines.


Below 200 dma seems much more thereat to SPY/ES than ;
a small possibility of an epidemic caused by improper chicken sanitation/overcrowding


:cool:
 
my bias is still bullish, as the past 12 months have been.

this have definately been a more expensive lesson then it should have been. I'm going to wait a few weeks until the consolidation is over...
 
Quote from krazykarl:

my bias is still bullish, as the past 12 months have been.

this have definately been a more expensive lesson then it should have been. I'm going to wait a few weeks until the consolidation is over...
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What’s the consolidation? I see the market just moving down. I hope you don’t learn an expensive lesson Karl. If I remember right you got smoked on your Apple position too. You need to have outs and not hold until your right. I am not saying the market won’t go back up because nobody really knows but the fact that it’s down so much so quick daily should tell you a story on its own. If the S&P breaks 1250 what’s stopping it from going to 1200. I still think we need to test lower lows. My reason is they need to make guys cry and sell out of long positions and there are a lot of small investors and hedge funds trapped like dogs right now I bet.
 
Quote from brokerboy:

What’s the consolidation? I see the market just moving down. I hope you don’t learn an expensive lesson Karl. If I remember right you got smoked on your Apple position too. You need to have outs and not hold until your right. I am not saying the market won’t go back up because nobody really knows but the fact that it’s down so much so quick daily should tell you a story on its own. If the S&P breaks 1250 what’s stopping it from going to 1200. I still think we need to test lower lows. My reason is they need to make guys cry and sell out of long positions and there are a lot of small investors and hedge funds trapped like dogs right now I bet.
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yeah, i did back in january. i've only been at this for a little over a year and am still learning a great deal. I didn't get smoked on aapl so much as I didn't take the profits off the table when I should have..(edit: i had a 12 bagger and just let it deflate.......)

from my limited TA knowledge, the trend is bullish and we were due for a correction - i've never been involved in a parabolic move before and didn't know what to expect - and my cash was in TIE - flat out in options and the stock. (edit: in other posts i've been calling for a reversal in the next 5-10 sessions, and my confidence on that call has gone up throughout the day the more reading i've done...)

What I did learn is that i need to listen to the VIX and get more backside protection in those types of moves..
 
Not that this is new info to most of you, but look at the negative correlation between the VIX and the S&P 500....As you can see during every significant decline in the market you get a spike in the VIX.....Hence the point I'm trying to make is that If you are trying to buy protection for your portfolio a few days after the sell off began and the VIX is in full spike, then you might be over paying for your protective puts.....This is why before I ever buy put options on IWM and SPY to protect my portfolio I always check to see the VIX at a low before I purchase.....This will usually occur around the same time the market is in a nice steady climb, the perfect time to use some profits and buy insurance....

Yes I HAVE BEEN IN 85% CASH SINCE 5/11 AND HAD MAY PUTS ON the OIH, IWM and SPY SINCE 5/5....

$COSTAverageMAN
 

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