BS market

[jackstone54]

Many of you guys are quite young and never traded through a downtrend. Remember BRCM from 1999 to 2002? BRCM was at 180 and then over a course of almost 2 years it went to 4 dollars. There were quite a few ups and downs along the way. A few rallies and dumps.

The market generally doesnt come down all at once. It takes time to break down sometimes years. These rallies are just relief rallies after a long downtrend starting from 6 months ago. Im certain that we will break lower but its just when and thats the challenge of trading the bear.

I simply buy long dated puts, kick back and wait

 

[dtan1e]

how do u know its not a short lived bear market?

 

[Landis82]

Quote from jackstone54:

Many of you guys are quite young and never traded through a downtrend. Remember BRCM from 1999 to 2002?

Quite young?
Don't make me laugh.

My guess is that you weren't even born yet when I was trading Teledyne options in between my classes in college back in 1981.

 

[arealpissedgoy]

Quote from MrDODGE:

Look at CIT and MER earnings. Both stocks are up on that crap news.

2 ways to trade the market.

1/ Think it's smart? then go with the flow and trade the trend ( good luck with that)

2/ Think it's dumb? then you better be good at recognizing key value areas before dumbo gets there.

I say, let 'em rise. Makes for good shortin'

 

[Landis82]

Quote from jackstone54:

The market generally doesnt come down all at once. It takes time to break down sometimes years. These rallies are just relief rallies after a long downtrend starting from 6 months ago. Im certain that we will break lower but its just when and thats the challenge of trading the bear.

I simply buy long dated puts, kick back and wait

Having such a "I'm Certain" kind of attitude and BIAS is a great way to lose a lot of money.
It certainly doesn't have anything to do with TRADING.

Good Luck.

 

[dipper17]

Quote from The Kin:



Disclaimer, I'm making money by being long, I just don't understand why.

No need to add that disclaimer its generally assumed that all ET'ers make money all the time.

 

[dipper17]

Quote from Landis82:

Having such a "I'm Certain" kind of attitude and BIAS is a great way to lose a lot of money.
It certainly doesn't have anything to do with TRADING.

Good Luck.

buying leap puts and sitting around is another

 

[nonlinear5]

Quote from Landis82:

I was trading Teledyne options in between my classes in college back in 1981.

I called the top on US Steel in 1931. Thinking of buying it back now.

 

[Landis82]

Quote from dipper17:

buying leap puts and sitting around is another

Very well said.

 

[Landis82]

Quote from dtan1e:

how do u know its not a short lived bear market?

He doesn't.
Just as he has yet to figure out how to make an international phone call to IB in HK.

http://www.elitetrader.com/vb/showthread.php?threadid=125129