BS market

Quote from MrDODGE:

Landis, go sit down read the Beige Book. The economy is in the crapper. I will let you read how bad things really are.

Happy reading!
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With a comment like that, you must be fairly new to trading the financial markets.

Last time I checked, my clearing firm does not keep track of the "Beige Book."
My clearing firm keeps track of price.
So do I.

Big difference.
And one that you clearly have yet to learn.

Good Luck.
:)
 
A quick look at the 2000/03 drop can give you some perspective on what could be happening in the "big picture" now.

There were several nice counter trend bull runs and people calling the bottom.

I'm sure lots of long term investors bought those bottoms and got crushed.
 
Short 2 ES over the weekend at 1390.75 executed into the close.

I'm pretty sure this rally won't hold. Everyone calling the bottom, saying everything's fine, when really we're doing horrible. Too much pessimism turned optimism now.
 
Quote from blackchip:

A quick look at the 2000/03 drop can give you some perspective on what could be happening in the "big picture" now.

There were several nice counter trend bull runs and people calling the bottom.

I'm sure lots of long term investors bought those bottoms and got crushed.
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And I'm sure lots of bears shorted the bottom right after that and got crushed in March 2003.

This is what happens when you predict the market regardless of what the market is actually doing.
 
Um yeah. Except there are a lot more long term investors that lose their retirement money buying fake bottoms because the media tells them to than their are short traders. Most shorts, including institutions, are very short term by necessity.

Investors are expecting 8% per year forever that their "advisor" told them about. Shorts don't expect the markets to go to zero. :D



Quote from HolyGrail:

And I'm sure lots of bears shorted the bottom right after that and got crushed in March 2003.

This is what happens when you predict the market regardless of what the market is actually doing.
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Quote from HolyGrail:

And I'm sure lots of bears shorted the bottom right after that and got crushed in March 2003.

This is what happens when you predict the market regardless of what the market is actually doing.
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Very true.

But few here on ET actually "listen" to the market using technicals. They simply take "shots" shooting from the hip and do whatever their gut tells them to do. That's why there are no stop/losses, no use of sound money management practices - - - just taking "shots" here and there with whatever fits into their pre-disposed bias.
 

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Quote from S2007S:

think what you want to think, seems all bad new is pushed aside from a couple of earnings announcements that last maybe 1-2 days, then its back down again...Funny that you think this credit crisis is just a walk in the park, however its the biggest in history and you are ignoring it as if everything is all roses....the bottom is not in for this market, keep thinking that 115+ oil, high inflation, and a consumer that is totallllllly tapped out is going to create an ongoing bull market, the bull market is done with.....the consumer which makes up 2/3 of the GDP is COMPLETELY tapped out.....wait till $1 Trillion worth of credit card debt starts to create problems on the economy.......This is nothing more than a bear market rally. Keep buying if you must, see you back below 12k...
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I must say that I find this post ( from one month ago ) to be highly ironic . . .

I guess a stock like TIFFANY didn't hear your prognostications that the consumer is TAPPED out!

TIF: +3.03 to $48.88

:D

P.S. The Dow is only about 7 points from 13,000.
So much for your 12,000 target! Trade much?
 
Quote from Landis82:
P.S. The Dow is only about 7 points from 13,000.
So much for your 12,000 target! Trade much?
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"WELCOME TO THE BEAR MARKET"

"WE ARE ALREADY IN A RECESSION"

"SELL THIS RALLY"

"DOW SUB 11,000 SOON"

"I JUST BOUGHT SOME MORE TWM AND WILL SELL AT $88 PLUS"

"THE CONSUMER IS TAPPED OUT"

"YOU THINK THE BEAR MARKET IS ALREADY OVER WHEN IT JUST STARTED? THINK AGAIN THIS WILL LAST FOR YEARS"

"CREDIT CARD DEBT WILL BE THE NEXT SHOE TO DROP"
 
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