Are we at a short term bottom?

Well guys,

go long then if you think you can outsmart the market. Stoploss below what you think is support and your job is done. I don't understand why you are so eager to call the bottom instead of trading in the direction that's so obvious! What has the market done the entire day? It was moving down. I really hope most of you "traders" have been short the entire day. Right now there is no compelling reason to yield to the bulls. Absolutely none as of this moment! A seasoned trader will take partial profits at most.

Honestly, what were you doing while the market was moving down? Were you thinking "this must be the bottom, let's go long now"? "Damn, down more! Where could be the next bottom?" Over and over again. And in the meantime you forfeit all that money you could have made with a short position. Instead of simply doing what's so obvious you try to outsmart the market repeatedly.
 
Quote from prince-in-jail:

Well guys,

go long then if you think you can outsmart the market. Stoploss below what you think is support and your job is done. I don't understand why you are so eager to call the bottom instead of trading in the direction that's so obvious! What has the market done the entire day? It was moving down. I really hope most of you "traders" have been short the entire day. Right now there is no compelling reason to yield to the bulls. Absolutely none as of this moment! A seasoned trader will take partial profits at most.

Honestly, what were you doing while the market was moving down? Were you thinking "this must be the bottom, let's go long now"? "Damn, down more! Where could be the next bottom?" Over and over again. And in the meantime you forfeit all that money you could have made with a short position. Instead of simply doing what's so obvious you try to outsmart the market repeatedly.
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Anyone who would have followed your advice (after your post) would have shorted in the area of $64.20 for IWM. In around 2 to 2 minutes around 4PM the market is back to $64.60 area. Those people have losses now.

The reward does not justify the risk on the short side. The market can go down of course, but I will not be short. Sideline for the moment waiting for the upside.

I did not post my trades after someone said that it is cluttering the thread, but I made money for the day (on the short in the morning, and playing it on the long side afterwards).
 
This is too logical and easy. We must outsmart the market to be successful. :cool:






Quote from prince-in-jail:

Well guys,

go long then if you think you can outsmart the market. Stoploss below what you think is support and your job is done. I don't understand why you are so eager to call the bottom instead of trading in the direction that's so obvious! What has the market done the entire day? It was moving down. I really hope most of you "traders" have been short the entire day. Right now there is no compelling reason to yield to the bulls. Absolutely none as of this moment! A seasoned trader will take partial profits at most.

Honestly, what were you doing while the market was moving down? Were you thinking "this must be the bottom, let's go long now"? "Damn, down more! Where could be the next bottom?" Over and over again. And in the meantime you forfeit all that money you could have made with a short position. Instead of simply doing what's so obvious you try to outsmart the market repeatedly.
More...
 
Maybe a short term bottom, who knows. Dow broke a multi year trend line going back to the 70's so doubt this is THE bottom.
 
Quote from riskfreetrading:

Anyone who would have followed your advice (after your post) would have shorted in the area of $64.20 for IWM. In around 2 to 2 minutes around 4PM the market is back to $64.60 area. Those people have losses now.

The reward does not justify the risk on the short side. The market can go down of course, but I will not be short. Sideline for the moment waiting for the upside.
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Where in my post did you interpret a recommendation to sell short? What I was asserting is that it's not advantageous to establish a long position as bulls have not made their case at all. You might be seeing something that I do not, but from what I see there is no reason to exit a short position that a rational trader has established several hours or even days ago.

Someone going long from here is either very bold & skilled, or ignorant, or has deep pockets.

What was your reason to exit your short positions in the first place? Thinking that the next big rally is just around the corner, and you don't want to miss out the world's biggest lottery? :) Up up to the moon and never go back!
 
Quote from stock_trad3r:

excellent time to go long
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They always confuse and me with you. Please tell these people we are not the same posters.

BTW I like your style and writings. Good posts..

day7793
 
Quote from frank grimes:

The frigging mkt is down 5 months in a row, and you can't find any reason to short? Wow, your time away did not help you out in the deductive reasoning department stock.
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The market did not go down straight. It had lots of up days and charts show that. You are a complete idiot to even suggest such a blank statement Frank Grimes.
 
ok day whatever man. these are the facts. 1) the market has been in a confirmed downtrend since last summer, and has been making lower lows and lower highs. 2) I have been been short since last summer trading around in some names and indexes while waiting for some more long term shit (airlines) to go back to zero. 3) you have not made a dime this year, and in fact you are getting crushed. 4) it would suck to be you. get bent putz.
 
Still can't think of any good reasons to go short. I'll let you guys know if I find any."


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LOL nice qoute. Im sure you didnt feel this way 700 point to 1000 points ago either...BWAHAHAAHAHAAAHA
 
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