Correction coming, or crash?
- Thread starter KCalhoun
- Start date
Wow, you just brought back a long lost memory from 2001. Our trading desk manager was in his late thirties (which we considered old!). He loved the film "Almost Famous", because the songs reminded him of his golden era, the late 70s (we totally did not get it). Anyway, this dude had a MASSIVE apartment in the upper east side, full brownstone, with pool tables, and an incredible garden outside. Probably the largest home in NYC, I had seen at that age.
Well, as the market started to tank, he turned his losing trades into long term investments, years passed, and he lost the massive apartment, and everything. End of Story.
PS. I do take immense pleasure...
A sample does not a trend make. I imagine many MSFT, AMZN or TSLA stock holders have been mocked for holding loser shares.
Imagine their immense pleasure
They will continue to be mocked IMHO. It wouldn't surprise me in the least to see any or all of these 3 stocks go down much much farther than the small bit they've given back thus far.
FTR I'd be a buyer of Alphabet over any of these 3 but I admit they too are susceptible to the possibility of something similar as conditions continue worsening for tech.
It was actually a LOT more people than that manager, that did the same exact thing, so I got quite a sample. For MSFT/AMZN, you would have needed to weather the 2008 meltdown, and hold for 2 decades. For TSLA, less time.
Imagine MY immense pleasure at making consistent money, trading futures, regardless of whether the market goes up or down. And I certainly did not have to wait TWO DECADES. I have enjoyed the money (having money in your early twenties is a LOT OF FUN), at its fullest, ALL the entire way...
The only thought that came to my mind while trading today was: that 4238 high in the S&P 500 Futures just a few days ago, well, you are not going to see that again for a while (like years).
I have been involved in the markets since 1997, and professionally, straight out of college, since 1998. Today was true, and painful selling. I enjoyed it
This is an incredibly stupid post. We are less then 4% off the ATHs and your delusions lead you to proclaim it'll be years before we dare do that 4% again. We'd have to go back many years right before some dumb ass on here made such a proclamation, right ? Oh wait .... poster "Schizo" did exactly that a little over a year ago, saying we'd never see 3390 again in our lifetime. And I called him on it. And he arrogantly insisted otherwise and said we'd be revisiting it years later having a good laugh at the audacity of anyone saying US markets would recover from a black swan event.
Since when is a 2% drop in indexes "painful selling" ? Never.
Maybe you are right, and we move much higher. These last 2 years have taught me that anything can happen. I simply offered my opinion. And I am far from stupid...
2% was just Wednesday. Monday/Tuesday were also sell offs.
You can call me on it, when the S&P 500 flies through 4500, deal?
%%
More TQQQ+ SPY related /SPY related; plan on getting back in SPXS or SPXU,sds, maybe sqqq by FRI close. UDOW buy order has not ben hit/but that 's life sometimes................................
Have an exit order on GSG/not hit yet................................................................................