Boy Who Cried Bear Says We Are Going Down
- Thread starter shortie
- Start date
Why would I be angry? You saying that....makes me angry
. I get it now haha. I apologize. But you need to understand why I got angry.
I covered 1/2 @ b/e yesterday. That would be an indication that I thought I was wrong. Riding the rest waiting to get a confirmation that I was. The loss is currently .2% of my portfolio (It's like getting punched by Barney). I was looking for a return of 2+%.
I made assumptions after your second post.
This was your 2nd post to this thread.
Luck actually has nothing to do what what we're doing. It was quantified based on a historical pattern. The trade was taken with minimal risk.
When I see that statement I automatically assume that you assume we have no clue what we're doing and trading based on an agenda of "it's gone up too much".
That's not the case at all.....it's a trade plain and simple.
shortie,
like I've said on another thread:
1. only firms like Goldman get to short at the top, all others get squeezed trying to pick the top
2. the SPX has now breached the 1,150 mark. if it closes above and holds, then most likely we're going to rally up to the 200 weekly moving average, around 1,240-1,250.
3. the hedge funds/quant funds who are long are playing a game called "Drink, Puke and Cover." In this game, the goal is to make as many short sellers drink lots of Pepto Bismol, puke, and push the buy button to cover their short positions
4. there are unfilled gaps on the SPX index below (look on the daily chart). these gaps have a tendency to fill on the indicies with a high degree of probability, hence the market will eventually fail and drop to fill these gaps
5. the RSI is in the mid to upper 60's on the weekly SPX chart, a level not seen since the summer of 07. also, there is a 40% or so short interest on the Spiders (SPY), which is huge as a percentage of the float.
Until then, enjoy the ride up, sell covered calls to hedge your longs, and don't be the "sucker at the top" when we crash!
like I've said on another thread:
1. only firms like Goldman get to short at the top, all others get squeezed trying to pick the top
2. the SPX has now breached the 1,150 mark. if it closes above and holds, then most likely we're going to rally up to the 200 weekly moving average, around 1,240-1,250.
3. the hedge funds/quant funds who are long are playing a game called "Drink, Puke and Cover." In this game, the goal is to make as many short sellers drink lots of Pepto Bismol, puke, and push the buy button to cover their short positions
4. there are unfilled gaps on the SPX index below (look on the daily chart). these gaps have a tendency to fill on the indicies with a high degree of probability, hence the market will eventually fail and drop to fill these gaps
5. the RSI is in the mid to upper 60's on the weekly SPX chart, a level not seen since the summer of 07. also, there is a 40% or so short interest on the Spiders (SPY), which is huge as a percentage of the float.
Until then, enjoy the ride up, sell covered calls to hedge your longs, and don't be the "sucker at the top" when we crash!
Why did I lash out at flyfisher? I hate his guts. Literally hate that guy. Has nothing to do with this trade