I Just Got Long

[S2007S]

I would say getting long for a bounce is your best chance now, however a break below 600 on the s&p and who knows where these markets are heading, I figure if you go long and everything continues to fall apart there will be nothing left, no economy, no consumer, nothing, so figure if you go long and everything completely falls apart there will be probably no reason to worry about money anymore because the economy will be totally worthless.

Think about it.

 

[Landis82]

Quote from Port1385:

Everytime I have gone long in a downtrend, my hat has been handed to me. Things that go down just keep going until they dont or they go bankrupt.

An iceberg has hit and its time to bail not to build.

ET Contrarian Indicator Alert!

669 ES equals .618 of first leg down
from 779.50 to 688.75

That is the first target.
635 is a 1:1 measured-move.
:eek:

 

[swtrader]

Quote from Pa(b)st Prime:

Made a hell of lot more on this call below then I could lose here. Look at the date and then a chart:

http://www.elitetrader.com/vb/showthread.php?s=&threadid=142064&highlight=sentiment

my broken clock was right this morning too

 

[jd7419]

Quote from S2007S:

I would say getting long for a bounce is your best chance now, however a break below 600 on the s&p and who knows where these markets are heading, I figure if you go long and everything continues to fall apart there will be nothing left, no economy, no consumer, nothing, so figure if you go long and everything completely falls apart there will be probably no reason to worry about money anymore because the economy will be totally worthless.

Think about it.

I agree if the markets fall too much more the people will lose control in a mass exit of historic proportions leaving nothing left. I have a feeling Obama is going to tell geitner buy 1 million sp minis at the market and tell those fuckers in the pit Ill take 200,000 large ones.

 

[swtrader]

Quote from Daal:

This market is absurdly oversold.

know what that means in a crash? nothing

i'm not predicting a crash - i'm saying we are in one.

even if it ends today, and this marks the bottom, it was a crash

 

[wavel]

Quote from Pa(b)st Prime:

I'm not usually one to flip my lid at a post that isn't in Politics and Religion. But I'll break precedent and tell you to STICK IT UP YOUR ASS. I just took out 65 ES points last week and this on a short. Did you? I lost a massive $1250 today-on a trade I could have made 3k in minutes, which means I gave back a little under 2% of my year. Wanna know how many trades I've made this year? FIVE.

Are you sure your not over trading Pa(b)st Prime?

Keep up the good work.

 

[Kassz007]

Quote from Port1385:

Things that go down just keep going until they dont or they go bankrupt.

LOL.
Things that go down just keep going until they don't? What kind of analysis is this?

 

[Landis82]

Quote from Kassz007:

LOL.
Things that go down just keep going until they don't? What kind of analysis is this?

Another typical ET thread from the Trading Forum. What else did you expect???

 

[crash n burn]

this is the first time since the bear market began last year that there are 4 consecutive weeks of substantial declines in a row.

for instance, in october and january we had just 3 followed by a relief weekly positive bar.

from a statistical perspective, the chances of having a positive week by next week are

1-(1-.51)^5 = 97,17%

 

[Port1385]

Nope. There is no support until around 600. I have said 650 in the past, but now I am lead to believe that 600-625 area is where it lies and its straight down from here.

Lets hope I am right because I would really hate to see what our world looks like at 400. Mass homeless, mass unemployment, civil unrest.

Quote from crash n burn:

this is the first time since the bear market began last year that there are 4 consecutive weeks of substantial declines in a row.

for instance, in october and january we had just 3 followed by a relief weekly positive bar.

from a statistical perspective, the chances of having a positive week by next week are

1-(1-.51)^5 = 97,17%