CL Redux

been slopping around on the 1 and 5 mins today, not sure why I don't do it everyday because it's way less stressful. Anyway did anyone else get tripped up by that 12:40 5 min bar? looking for a breakout into the close because it looks like it shouldn't happen so maybe it will.
 
damn should have shorted along that tl instead of waiting for a break now its shot. At least coffee had a nice inside day anything above 203 next week could cause a nice pop to 208. Oh well time for some Bombay!!
 
Quote from BCE:

http://www.elitetrader.com/vb/showt...042&perpage=10&highlight=cramer&pagenumber=16
More...
It's interesting looking back at this forum from 2006. There was no Black Monday II the next day. :) But here's an article someone posted by Nouriel Roubini http://www.elitetrader.com/vb/attachment.php?s=&postid=1133000

As we all know he was talking about all of the b.s. before it all went down. My comments at the time were:
BrandNewTrader and richardyu301,

Thanks for sharing this article. Very interesting and he is talking about just the type of things I've been thinking about myself but have heard few mention, at least not linked together in the same way. Higher inflation, rising commodity prices, and the "fizzling out" or bursting bubble of the housing market. Plus a lot of the money and the free ride that many people got by refinancing their houses with falling interest rates is now gone and they're set to face the real financial realities without this smoke and mirror, Fed created crutch.
More...
A lot of times through the years I have been able to see what's going to go down. But I've usually been early as was Roubini for that matter. And of course in relation to trading it's all about timing and trading off of what's happening now, at least for the type of trading we're doing. Investing too obviously is about timing, but not on such a tight schedule.

I remember there was a guy here on ET that started a thread predicting all the shit that would hit the fan coming up, like Roubini, who he had read too. And I don't remember what he was trading exactly. But I do know he placed a big trading bet short and put it all on the line. Well, I tried to talk to him about timing but he was so full of himself and his ability to predict what would go down that he wouldn't listen.

He was right with his prediction eventually, as others of us were, but in the meantime the market went against him big time and he really ate it and I think wiped out his account. Remembering now he had just graduated from college with some sort of economics or business degree.

ADD: The lesson here, or one of them, is that if you trade off of what you think is going to happen and are stuck on your viewpoint even as the market goes against you, you'll obviously lose big time. The bigger your bet and the longer you cling to your opinion the more you'll lose. The market really doesn't care one bit how smart we think we are.
 
Back to bed for a few. The window in my van decided last night it didn't want to go up any more and would rather just remain in the door. Must be tired. :) See if I can fix it later, which entails tearing apart the door. Cheers. :)
 
Quote from BCE:

Back to bed for a few. The window in my van decided last night it didn't want to go up any more and would rather just remain in the door. Must be tired. :) See if I can fix it later, which entails tearing apart the door. Cheers. :)
More...

You live in a van?

where do you get the internet connection?

Oh, I got it, you park near McDonald's. free wi-fi !!!!
:D
 
I have a dream: I shorted at 104 coming Tuesday, big time, like 50 contracts, then held it until Friday when price dropped to 95. That's 9000x50=$450,000 profit.

Two things may happen in the coming week: a huge inventory build up and some glitch in Greece bailout. Don't mind CNBC highlighting banks' downgrades.

Anyone wants to make this bet, if you are tired of picking up nickles and dimes?
 
Quote from BCE:

Back to bed for a few. The window in my van decided last night it didn't want to go up any more and would rather just remain in the door. Must be tired. :) See if I can fix it later, which entails tearing apart the door. Cheers. :)
More...
Fixed my van window in less than an hour. What a handy guy that BCE is. :) Had no idea what I was doing, but just figured out how it worked by looking at it. This wasn't all that easy as it was fairly well hidden by the sheet metal of the door. Was just hoping it didn't have any broken parts or that it would be too hard to fix and I'd have to pay someone to do it. Sometimes things go well.
 
You must log in or register to reply here.
Back
Top