Doesn't this seem a bit excessive?

Quote from Ghost of Cutten:

The S&P was 1340 1 month ago, and 1295 a week and a half ago. It's now 1340 again. What's so phenomenal about that?

In 2008, the S&P sometimes moved >10% in an hour or two. 5% in a week is nothing.

Think about it - what was the main reason the market fell 9% in 6 weeks recently? Greece default worries. What happened to those worries? They are vastly diminished. Ergo, market is probably worth what it was before those worries surfaced.
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given VIX is 15 it's absolutely monstrous. probably size of move correlated to volatility is the biggest in the market history
 
Quote from Nine_Ender:

Look, dumb ass, I've posted both bullish and bearish calls on this site. The fact that I was bullish the entire fall was the CORRECT call. I've never been a raging bull at any time, but perhaps on a site absolutely dominated by idiots predicting corrections every week, its hard not to appear to be bullish all the time.

Fact is, most strong market analysts thinks almost the whole load of you EliteTraders are idiots. That's not a guess its fact.
You want to see over the top defensiveness and hostility, I could quote it from a bunch of you. I remember the 1000 or 1200 thread for example, where literally 90% of the posts were angry people insisting the market MUST ( not might ) go down. Couple that with the Economics forum where its a nonstop parade of rants about how the world is ending.

Honestly, I'm quite happy to counter the crazy gang here. But when I encounter complete buffoons like you, its just not worth it. YOU'RE A COMPLETE AND UTTER WASTE OF TIME. I've only replied to counter your lies you've posted about me for others to see.

The more you post, the more I realize you probably got busted by the bull market. I had zero money in markets in 2008. The crash in 2009 was an obvious opportunity to re-enter the market,
probably the best opportunity in our lifetime. If you missed it, well stop bitching about those who can read markets and get in with the next opportunity.
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You are a pathological liar.

You've left enough of a trail of bullshit that you are beyond damage control.

I suggest you find a nice hole to crawl into and rot away.
 
Quote from kashirin:

given VIX is 15 it's absolutely monstrous. probably size of move correlated to volatility is the biggest in the market history
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i sincerely doubt that. let's see some numbers.
 
Trading since the 1980's my ass. Like I said your arrogance and know it all bullshit stems from your LACK of experience:

Nine_Ender


Registered: May 2010
Posts: 589


05-16-10 01:05 PM

I'm fairly new to day trading and have a fairly low daily stop limit to deal with. I am good at identifying trends but have lost money mainly because I cut my winners far too easily.

So I came to the conclusion that I need to find good setups, better entry points, and let them run. Easier said then done, the best stepups are often more volatile stocks that can help stop me out if I'm wrong.

So on Friday I'm tracking BMO and it looks like a double top and the market futures are dropping. I take the plunge and sell 100 shares short. It bounces around a little, scares me on a slight uptick and I bail on a 1 cent gain. Almost immediately it drops 30 cents afterwards.

Anyone out there encounter similar issues and overcome them as a new day trader ? For example, in this situation, should I load up my exit position ( say 5 cents, or 10 cents ) ready to go ?

On the bigger picture, if you have a plan to short BMO or similar on market down days, what would you say are the best technical signals to indicate suitable entry points

(Now, you can feel free to piss off once and for all. Hint: Your story just went down in flames).
 
Quote from denner:

Trading since the 1980's my ass. Like I said your arrogance and know it all bullshit stems from your LACK of experience:

Nine_Ender


Registered: May 2010
Posts: 589


05-16-10 01:05 PM

I'm fairly new to day trading and have a fairly low daily stop limit to deal with. I am good at identifying trends but have lost money mainly because I cut my winners far too easily.

So I came to the conclusion that I need to find good setups, better entry points, and let them run. Easier said then done, the best stepups are often more volatile stocks that can help stop me out if I'm wrong.

So on Friday I'm tracking BMO and it looks like a double top and the market futures are dropping. I take the plunge and sell 100 shares short. It bounces around a little, scares me on a slight uptick and I bail on a 1 cent gain. Almost immediately it drops 30 cents afterwards.

Anyone out there encounter similar issues and overcome them as a new day trader ? For example, in this situation, should I load up my exit position ( say 5 cents, or 10 cents ) ready to go ?

On the bigger picture, if you have a plan to short BMO or similar on market down days, what would you say are the best technical signals to indicate suitable entry points

(Now, you can feel free to piss off once and for all. Hint: Your story just went down in flames).
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Buddy, I've been trading ( swing trading, investing, options trading ) since the 1980's. Day trading was something very recent. Your theory is full of shit. This is the problem with speculating with incomplete information buddy.

For example, Canadian investors might remember when Stronach ran for office and Magna dropped to $2. One of the first companies I tracked closely. Others might remember when Arequipa Resources got taken over. And my best trade was when BMO and RY announced a merger one day when I was heavily long BMO calls.

Hint : Your ideas just went down in flames. And tell me, what
the hell was a "permabull" doing shorting BMO ? Hmmm.
Now your whole story is a bloody mess.
 
Quote from Nine_Ender:

Buddy, I've been trading ( swing trading, investing, options trading ) since the 1980's. Day trading was something very recent. Your theory is full of shit. This is the problem with speculating with incomplete information buddy.

For example, Canadian investors might remember when Stronach ran for office and Magna dropped to $2. One of the first companies I tracked closely. Others might remember when Arequipa Resources got taken over. And my best trade was when BMO and RY announced a merger one day when I was heavily long BMO calls.

Note the fact I was shorting BMO. Not exactly a "permabull" idea.
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You've already stepped in shit. Those beginner questions were a dead giveaway.
 
Quote from Tsing Tao:

I do think there is little fundamental basis for a rally like this. The economy is just getting worse by the day.

But then again, the market doesn't really care all that much about the economy.
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Very true. The market moves on people, not value.

My theory is that the news dragging on caused people to continue selling off for a longer period of time than they would have under other conditions. Of course, not everyone was selling, just the general public. The corporate accounts and smart money knew better.
Anyway, this over-extension of selling created a vacuum of sorts, kind of like pulling a sling-shot back a bit farther than usual. The overall result was a rush of buying what was no longer availabe (since the smart money snatched up all the shares on June 23 - see the volume spike on intraday indeces between 2 and 4pm Eastern) and the market shot up.
It happens, but it was not unpredictable. I was able to net 24% during that time, more than my entire month of June.

Happy 4th everyone. Have a great 3 day weekend.
 
Quote from Ghost of Cutten:

The S&P was 1340 1 month ago, and 1295 a week and a half ago. It's now 1340 again. What's so phenomenal about that?

In 2008, the S&P sometimes moved >10% in an hour or two. 5% in a week is nothing.

Think about it - what was the main reason the market fell 9% in 6 weeks recently? Greece default worries. What happened to those worries? They are vastly diminished. Ergo, market is probably worth what it was before those worries surfaced.
More...

I would have argued the market fell because of the end of QE2, which hasn't changed. I guess I was wrong.
 
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