Quote from iceman1:
all-time high oil, interest rates raised multiple times, high deficit, and today... the apparent terrorist bombings... and alerts
YET........ we are now almost HIGHER on the day, across the boards. How the F can you trade a market like this... that makes no fking sense. Wait... it does make sense... the tail is wagging the dog. The moves in these markets have nothing whatsoever to do with anything valuable... but rather it moves in accordance with the upcoming options expiry !!
:eek:
Guess the point is.... one can perform.... but it is becoming much harder as a position/swing trader... IMHO!
IF anyone can makes sense of this... please stand up and take a bow!
Ice
p.s. actually having a decent month, but... damn... it's exhausting!
From 'Remicences of a Stock Operator' written in 1923
'The customers, who were all eager to be shoved and forced
into doing things so as to lay the blame for failure on others,
used to go to old Partridge and tell him what some friend of a
friend of an insider had advised them to do in a certain stock.
They would tell him what they had not done with the tip so he
would tell them what they ought to do. But whether the tip they
had was to buy or to sell, the old chap's answer was always the
same.
The customer would finish the tale of his perplexity and
then ask: "What do you think I ought to do?"
Old Turkey would cock his head to one side, contemplate his
fellow customer with a fatherly smile, and finally he would say
very impressively, "You know, it's a bull market!"
Time and again I heard him say, "Well, this is a bull market,
you know!" as though he were giving to you a priceless talisman
wrapped up in a million-dollar accident-insurance policy. And of
course I did not get his meaning.'
......
'I think it was a long step forward in my trading education
when I realized at last that when old Mr. Partridge kept on
telling the other customers, "Well, you know this is a bull
market!" he really meant to tell them that the big money was not
in the individual fluctuations but in the main movements that
is, not in reading the tape but in sizing up the entire market
and its trend.'