ES Journal Archive (2009 - 2010)

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Quote from JSSPMK:

Do you guys feel any sort of guilt when you short stock indexes nowadays? I know most of us are retail size, though we are adding fuel to fire or aren't we?
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No. no guilt. The markets will reflect the broad consenus and we cannot change that. The politicians and crooks should feel guilty but they don't care.

During the NASDAQ 5K run I wasn't guilty being long for weeks and months, from December 1999 until June 2000, rolling over contracts each month and buying QQQQ ( was QQQ at that time) on every dip. Same for 2006 into 2007 on that housing/sub prime led bubble rally.
 
Quote from JSSPMK:

Do you guys feel any sort of guilt when you short stock indexes nowadays? I know most of us are retail size, though we are adding fuel to fire or aren't we?
More...
As a permabear, I never felt guilty about shorting although I felt sorry for those who lost money in this market. But now that I'm hearing that over a million dollars of tax-payer sponsored TARP money was used to decorate an office (that's a MILLION, folks), what guilt is there to be had?

After all, these A-holes collectively brought this economy down to its knees. What the hell were they thinking?!
 
Quote from Jahajee:

No. no guilt. The markets will reflect the broad consenus and we cannot change that. The politicians and crooks should feel guilty but they don't care.

During the NASDAQ 5K run I wasn't guilty being long for weeks and months, from December 1999 until June 2000, rolling over contracts each month and buying QQQQ ( was QQQ at that time) on every dip. Same for 2006 into 2007 on that housing/sub prime led bubble rally.
More...
Good point. They don't give shit when the market spirals out of control on the way up. So why should any of us bemoan the current insanity that resulted from many years of excessive optimism?
 
Quote from saliva:

As a permabear, I never felt guilty about shorting although I felt sorry for those who lost money in this market. But now that I'm hearing that over a million dollars of tax-payer sponsored TARP money was used to decorate an office (that's a MILLION, folks), what guilt is there to be had?

After all, these A-holes collectively brought this economy down to its knees. What the hell were they thinking?!
More...

Yes, might as well profit from this whilst it's still possible.

In the UK my friends started seriously talking about moving elsewhere, what a sad state of affairs. Jim Rogers keeps saying "UK's finished, etc."
 
Quote from saliva:

I agree, it won't stick for long this time around. Short the bitch at every turn on every rally!
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The golden opportunity to take it down was gone, since the 810ish run up to 850. It triggered new long term buyers to step in at 20s and 30s.

The dudes who hold it up at 810 have my hats off to them.

More chops until we clear out of this congestion. :(
 
Quote from JSSPMK:

Do you guys feel any sort of guilt when you short stock indexes nowadays? I know most of us are retail size, though we are adding fuel to fire or aren't we?
More...

I illustrated that in our blog that small traders DO NOT MATTER at all to the volatility, nor the direction of the market.

Size matters, and unluckily, most who trade sizes in the equity markets are not very, um..., professional. Even though many are fund managers. :)

Some academics have studied the markets and have similar conclusions. i.e. Power law on price distributions etc.

Remember that we are talking about index futures here. For every contract bought, someone sold it. Those who long are as guilty as the shorts. :cool:

Shorts preserve the wasted price valuation and stabalize markets.
 
Quote from Lawrence Chan:

I illustrated that in our blog that small traders DO NOT MATTER at all to the volatility, nor the direction of the market.

Size matters, and unluckily, most who trade sizes in the equity markets are not very, um..., professional. Even though many are fund managers. :)

Some academics have studied the markets and have similar conclusions. i.e. Power law on price distributions etc.

Remember that we are talking about index futures here. For every contract bought, someone sold it. Those who long are as guilty as the shorts. :cool:

Shorts preserve the wasted price valuation and stabalize markets.
More...

I mentioned much of what you just mentioned on some blog supporting that transaction tax that people keep talking about. We might be parasites but are not parasites vital to the ecosystem!
 
"While the S&P was able to stage a breakout of the range from late last week in the early going and did finish with a gain, the inability to build on the morning extension and the drop back within the range keeps the very short term bias neutral. A short term support of interest is at 826/824 with a posture above keeping the door open to further upticks. Initial resistance in the 842/844 zone in front of Monday's high (852) and the stronger 857/859 area. Overall the choppy trade that has dominated for more than a week in the wake of the aggressive slide this month raises the probability that the weaker bias off 943 remains dominant."
 

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