DOW Crashing ?!
- Thread starter Bono
- Start date
One thing I really hate about those comparison charts, is that they don't show you how the bear trend reversed ... did it suddenly turn up ? ... did we get a 50% rally ? did it move sideways ? and if so how long has it been going flat before turning up ?
As far as TA is concerned, the end of a Bear trend, or a bottom in place or whatever you wanna call it, doesn't necessarily mean the market will shoot higher ... and that's exactly why I prefer to stick to the all simple trend determining approach of :
High Peaks + Higher Troughs = Bull Trend
Lower Peaks + Lower Troughs = Bear Trend
Any other combination = Flat or Trendless market
As far as TA is concerned, the end of a Bear trend, or a bottom in place or whatever you wanna call it, doesn't necessarily mean the market will shoot higher ... and that's exactly why I prefer to stick to the all simple trend determining approach of :
High Peaks + Higher Troughs = Bull Trend
Lower Peaks + Lower Troughs = Bear Trend
Any other combination = Flat or Trendless market
posted by bono 6/21
"Lundy,
Who said go short ??????
You cover your shorts today ...
You definitely don't go long ....
And you wait for the next opportunity to go short AGAIN ..
In bear trends, you ALWAYS go short ...
In bull tends, you ALWAYS go long ...
What kind of trend are we in ?
OOOOPPPPPSSSSSS ALL INDICES ARE HITTIN NEW LOWS ..."
posted by bono 6/23
"Just a quick thought ... any positive open tomorrow, is a Buy signal in my opinion....."
**************************************************
... Wait a minute... I thought you said you ALWAYS go short in bear trends? What kind of trend are we in? So I guess the trend changes to bullish over the weekend if we open higher monday? Wow, quick trend change.
OOOOPPPPPSSSSSSS YOUR LOGIC IS HITTING NEW LOWS..
"Lundy,
Who said go short ??????
You cover your shorts today ...
You definitely don't go long ....
And you wait for the next opportunity to go short AGAIN ..
In bear trends, you ALWAYS go short ...
In bull tends, you ALWAYS go long ...
What kind of trend are we in ?
OOOOPPPPPSSSSSS ALL INDICES ARE HITTIN NEW LOWS ..."
posted by bono 6/23
"Just a quick thought ... any positive open tomorrow, is a Buy signal in my opinion....."
**************************************************
... Wait a minute... I thought you said you ALWAYS go short in bear trends? What kind of trend are we in? So I guess the trend changes to bullish over the weekend if we open higher monday? Wow, quick trend change.
OOOOPPPPPSSSSSSS YOUR LOGIC IS HITTING NEW LOWS..
lol futurecurrents, i like your humour.
I also find it funny how bono is covering his butt.
The market will go up, and all the bears who derided us bottom pickers will say.... "i knew it would go up, I had all kinds of buy signals."
If the market goes down next week, even if it first gaps up, I will say "i screwed up". I wonder what you will say bono?
either way, all I can say is GROW SOME BALLZ!!!!
I also find it funny how bono is covering his butt.
The market will go up, and all the bears who derided us bottom pickers will say.... "i knew it would go up, I had all kinds of buy signals."
If the market goes down next week, even if it first gaps up, I will say "i screwed up". I wonder what you will say bono?
either way, all I can say is GROW SOME BALLZ!!!!
LOL ... I find it even more funny how losers get together ... sorry Lundy u got yourself into this ....
Did u guys ever hear about :
1) Day traders ?
2) Swing Traders ?
3) Short-term Traders ?
OK ... I love playing the teacher's role here
1) Day Traders : People who open and close a trade on the same day.
2) Swing Traders : People who open and close a trade within a period of two to five days, or a little more
3) Short-term Traders : People who open and close a trade within a period of one to three weeks
So when I said a positive open today is a buy signal, I meant for "Swing Traders". And you didn't have to quote another message because in that same message I said that it wouldn't change a thing in the big picture and that doom and gloom would still be ahead ... talking about "Short-term Traders".
P.S. That was an attempt to elaborate what your little brains couldn't catch earlier ... basically, it's for you Lundy, because as far as I'm concerned Futurecurrents has no brain at all
Did u guys ever hear about :
1) Day traders ?
2) Swing Traders ?
3) Short-term Traders ?
OK ... I love playing the teacher's role here
1) Day Traders : People who open and close a trade on the same day.
2) Swing Traders : People who open and close a trade within a period of two to five days, or a little more
3) Short-term Traders : People who open and close a trade within a period of one to three weeks
So when I said a positive open today is a buy signal, I meant for "Swing Traders". And you didn't have to quote another message because in that same message I said that it wouldn't change a thing in the big picture and that doom and gloom would still be ahead ... talking about "Short-term Traders".
P.S. That was an attempt to elaborate what your little brains couldn't catch earlier ... basically, it's for you Lundy, because as far as I'm concerned Futurecurrents has no brain at all
Lundy,
By the way, futurecurrents had already said the market had bottomed a week earlier (check previous messages on this thread) ... so I guess he had already screwed up ... that's why I believe he has no brain ... and when the market hits new lows in the days to come he would still be calling a bottom ...
As for what will happen if the market goes up this week, as I said on another thread here, it doesn't mean your genius dear, because first u went very bold and pre-assumed that the bear trend is over and that everybody should buy ... and when everybody laughed at you ... you retreated and said I didn't mean a major bottom, just a short-term bottom ... well just for your info, a market that goes up by at least 35% as you said from a bottom, automatically makes this a major bottom ...
Now as for what I would do ... I'd wait to see if the awaited rally reverses my short-term trend ... and if it does, I'd go long on a short-term basis ... I'd also check if it reverses my long-term trend ... and I'd go long on a long-term basis ...
This is what I've been doing for a long long time ... remember, the key is not to call a top or bottom, it's rather to trade profitably ... I hope you guys realize that ... so if the market goes up this week, it doesn't make u a hero ... but just another gambler who screws up every other night .. why I say that ? because you never told us why you believe the market should have bottomed last week ... so whoever doesn't explain why, is a gambler and not a trader/investor/technician in my personal opinion ...
P.S. I didn't buy your combination of oscillators story
Good Trading !
By the way, futurecurrents had already said the market had bottomed a week earlier (check previous messages on this thread) ... so I guess he had already screwed up ... that's why I believe he has no brain ... and when the market hits new lows in the days to come he would still be calling a bottom ...
As for what will happen if the market goes up this week, as I said on another thread here, it doesn't mean your genius dear, because first u went very bold and pre-assumed that the bear trend is over and that everybody should buy ... and when everybody laughed at you ... you retreated and said I didn't mean a major bottom, just a short-term bottom ... well just for your info, a market that goes up by at least 35% as you said from a bottom, automatically makes this a major bottom ...
Now as for what I would do ... I'd wait to see if the awaited rally reverses my short-term trend ... and if it does, I'd go long on a short-term basis ... I'd also check if it reverses my long-term trend ... and I'd go long on a long-term basis ...
This is what I've been doing for a long long time ... remember, the key is not to call a top or bottom, it's rather to trade profitably ... I hope you guys realize that ... so if the market goes up this week, it doesn't make u a hero ... but just another gambler who screws up every other night .. why I say that ? because you never told us why you believe the market should have bottomed last week ... so whoever doesn't explain why, is a gambler and not a trader/investor/technician in my personal opinion ...
P.S. I didn't buy your combination of oscillators story
Good Trading !
Does anyone still think this is a a coincidence? Unfortunately technology leads bull markets. The Nasdaq is F'd for a long time to come...
Here is a monthly comparison of the Nasdaq vs. the Nikkei:
www.iwinfree.com/nikkei.jpg
Here is a monthly comparison of the Nasdaq vs. the Nikkei:
www.iwinfree.com/nikkei.jpg
Lundy, back to u yet again ...
Now why would a positive open today be considered a Buy signal ?
Of course not because of what the "no brain" guy said about a weekend reversal, but rather because all major indexes closed few inches below the June 14 lows, and therefore, this is a support zone. Now just like the close, the open is pretty important, it tells you whether the mood has changed or not. In our case, if the market opens flat to lower, it still implies a bearish mood, but if it opens decisively up, it means the mood is shifting in favor of the Bulls ... and since we're trading near a support level, a rebound here is a swing buy ...
I'm from the 'Buy a support rebound', 'sell a resistance pullback' school ... and I hate pre-assuming that the discussed support/resistance level would hold or break ... I simply prefer listening to the market ... and doing what it tips to ....
And therefore, I also think that even if the market rebounds from here, it would still be premature to pre-assume a double bottom, again until the market decisively breaks above its neckline ...
So what should swing traders do ? Simply, Buy if it opens up ... place a stop below last Friday's low ... sell a portion at the neckline ... buy it back if the neckline breaks ... stop and reverse if the market pulls back from the neckline ... and place their stops above the neckline
Good Trading !
Now why would a positive open today be considered a Buy signal ?
Of course not because of what the "no brain" guy said about a weekend reversal, but rather because all major indexes closed few inches below the June 14 lows, and therefore, this is a support zone. Now just like the close, the open is pretty important, it tells you whether the mood has changed or not. In our case, if the market opens flat to lower, it still implies a bearish mood, but if it opens decisively up, it means the mood is shifting in favor of the Bulls ... and since we're trading near a support level, a rebound here is a swing buy ...
I'm from the 'Buy a support rebound', 'sell a resistance pullback' school ... and I hate pre-assuming that the discussed support/resistance level would hold or break ... I simply prefer listening to the market ... and doing what it tips to ....
And therefore, I also think that even if the market rebounds from here, it would still be premature to pre-assume a double bottom, again until the market decisively breaks above its neckline ...
So what should swing traders do ? Simply, Buy if it opens up ... place a stop below last Friday's low ... sell a portion at the neckline ... buy it back if the neckline breaks ... stop and reverse if the market pulls back from the neckline ... and place their stops above the neckline
Good Trading !