Maybe you are the wrong person to ask on account of your short bias, but has geopolitical risk post 9/11 changed any of your thinking on your position trades?
Thanks.
Geo.
Thanks.
Geo.
Any overnight traders out there?
- Thread starter Bankedout
- Start date
If anything, I would rather be short than long especially since 9-11. A stock is not going to go crazy overnight to the upside (unless a company is a target of a takeover). However, if bad news should arise, a stock could easily fall fast. I feel more comfortable being short.
I don't know if you are referring to being Un-American by shorting?
Used to trade overnights exclusively. As did many traders from the mid 90s through around mid 2000.
Pure momentum trades. Buy strong stocks, short weak stocks near the end of the day and hope for follow through.
When the bull run ended, a lot of us got hurt. Having seen the rapid bounce back in late 98 (asian contagion), it was hard to accept the bull was really dead.
The days of easy money in that style of overighting are long gone. But lots of money was made for quite a few years.
Didn't take too much skill to just buy AMZN and YHOO and MSFT and INTC and SUNW etc., every day. Made so much on IOMG it felt like stealing. (that was I think in about 1996...) NSCP and AOL were always fun too. Miss those days
Now, I barely consider holding a position over night. Rule of thumb is if I have more than a 1% profit in a position at the close, I will carry half or less of the position overnight. Depends on the size. And the relative strength of the stock over a period of the past 3-5 trading sessions.
Probably about breaking even on these trades for the past year. Can't say why I hold any. Maybe I need the adrenaline rush in the morning to start my day
Peace,
rs7
Pure momentum trades. Buy strong stocks, short weak stocks near the end of the day and hope for follow through.
When the bull run ended, a lot of us got hurt. Having seen the rapid bounce back in late 98 (asian contagion), it was hard to accept the bull was really dead.
The days of easy money in that style of overighting are long gone. But lots of money was made for quite a few years.
Didn't take too much skill to just buy AMZN and YHOO and MSFT and INTC and SUNW etc., every day. Made so much on IOMG it felt like stealing. (that was I think in about 1996...) NSCP and AOL were always fun too. Miss those days
Now, I barely consider holding a position over night. Rule of thumb is if I have more than a 1% profit in a position at the close, I will carry half or less of the position overnight. Depends on the size. And the relative strength of the stock over a period of the past 3-5 trading sessions.
Probably about breaking even on these trades for the past year. Can't say why I hold any. Maybe I need the adrenaline rush in the morning to start my day
Peace,
rs7OOH is that a case of sour grapes. Unless something has changed, I do not control the market. Emotional nellies seem to. So you have to try and outguess them. And they seem to be very depressed lately.
Being able to short does not change that. I have no idea why some people think that.
Quote from bobcathy1:
OOH is that a case of sour grapes. Unless something has changed, I do not control the market. Emotional nellies seem to. So you have to try and outguess them. And they seem to be very depressed lately.
Being able to short does not change that. I have no idea why some people think that.
You will do much better holding shorts overnight in a down trending market. At least from my experience. That's why I hoped it would trend down for you. If it trends up strongly for the rest of your life, you may regret not holding longs overnight at some point in the future.
Good luck,
Banker
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Banker
