Just another ET troll. What has this site come too? I said I SOLD my bear ETFs. Covered = buy. Go back to Trading 101 and get out of here.
BREAKING NEWS: First the triangle broke, now the support broke
- Thread starter joezapp
- Start date
It wasn't that way back in the day...
Dude, you were short the market and you "covered". Bear ETF's are short the mkt last time I checked or so it says in my Market 101 book.
So explain this to me Einstein, why would you cover your short market position if a support level breaks? That is complete nonsense. You even titled the thread:
BREAKING NEWS: First the triangle broke, now the support broke
BREAKING NEWS: First the triangle broke, now the support broke
As you continue to contribute absolutely nothing, I began by saying I raised cash the past 3 months. I sold all my bear ETFs at nice profits today and raised more cash. Now I'm ready to put said cash to work. There is no trading rule that says I should remain short the market because support broke. IF I said I started to invest the cash when support broke, that wouldn't be too smart.
Gary Lynn and I are trying to nail down where this downturn is headed. If you are a technical analyst, which is the board you are in, feel free to share
Very good point, Gary. Probably why most suggested the sharp break would be down. In terms of higher lows, you can even see that in today's daily chart...higher lows all day since the 10AM bottom. There was even 2 retests of the DOW 17960 level. We're back to the top of the 5-day downward trendline. It will be interesting to see if if we break through that trendline or stay stuck below. Tomorrow will be VERY interesting!
You are a chronic bed wetter, you come around whenever the mkt breaks down and fill your threads with B.S. trades to make yourself feel good.. Go back in the closet where you belong.
I'm going to quote your EXACT words in quotes. My comments will be below unquoted.
"Exciting times if you were waiting for a correction."
So you are implying this is a correction. Yet we are flat on the day.
"The sharp move that was to come after the 5 week triangle has confirmed to the downside"
You said this move is "confirmed". Meaning follow through. There was none.
"and now it appears that the chance for a short-term double-bottom broke, as we are below that level fairly solidly"
You said the bottom broke and we are solidly below meaning now is NOT the time to cover.
"The markets can move VERY quickly this time of year. You snooze, you lose."
Wow, now you are implying you better act fast and get short or miss this exciting move.
"Do we make it to a full correction, which would be S&P 1975? That would be a good area, as that would double-bottom the Brexit market drop"
Wow, even giving a target over 100 handles lower. Surely one should not cover their shorts if THAT is their expectation.
Maverick...
a) I'm implying that the market could be in correction mode.
b) If you've been paying attention, there was to be a sharp break at the end of the triangle. The sharp break has confirmed to be down now that the triangle has ended.
c) If shorting the market is what my trading thesis is, you'd be correct. I'm a long investor. Happy to sell my bear ETFs and focus on my next long entry point, again, with my raised cash.
d) I'm implying that the bottom can reverse very quickly, like the Brexit bottom. I have in no way recommended anyone get short here. The exciting move, when it happens, will be up. That's my view. I'm a long-term bull. You can trade however you want.
e) I'd love to have a long entry point at a 10% S&P correction. I DID NOT say that is my expectation. The fact that I'd like to SEE it does not make it my expectation.
Why don't you finally contribute something? You've yet to display that you are in any way a trader.
a) I'm implying that the market could be in correction mode.
b) If you've been paying attention, there was to be a sharp break at the end of the triangle. The sharp break has confirmed to be down now that the triangle has ended.
c) If shorting the market is what my trading thesis is, you'd be correct. I'm a long investor. Happy to sell my bear ETFs and focus on my next long entry point, again, with my raised cash.
d) I'm implying that the bottom can reverse very quickly, like the Brexit bottom. I have in no way recommended anyone get short here. The exciting move, when it happens, will be up. That's my view. I'm a long-term bull. You can trade however you want.
e) I'd love to have a long entry point at a 10% S&P correction. I DID NOT say that is my expectation. The fact that I'd like to SEE it does not make it my expectation.
Why don't you finally contribute something? You've yet to display that you are in any way a trader.