I Just Got Long

Quote from stock_trad3r:

buy buy buy

this looks like one of those 20% rally weeks

all this doom and gloom about deep recession and unemployment is a joke. The economy is fundamentally strong.
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how are those calls doing?
 
For $1000, I can get two months of trading instruction with you personally.

Quote from Pa(b)st Prime:

So up a point was nothing but when $SPX was down a point that's "tanking"?
Are you as big a friggin' tool as you appear to be?

My stop is 771.50.

If I'm stopped do you know what the net result of Friday and today will be for moi? I'll STILL be up a thousand bucks. (that's why my stop is 71.50)
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Quote from sandygray66:

PP - Care to share your basis for a long?

Just curious if your case for being long is any more robust than stock_trad3r's.
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OMFG!

I just started reading through this thread ... this is freak'in hilarious. And as we all see, pretty astute.

Calling Longs in this market (ie, starting a thread saying "I Just Got Long"), is just plain silly-willy. And from a professional too! :(
 
congrats stock, you nailed another of your amazing calls, how are your imaginary GOOG calls going? Over 2 million job lost in 4 months and you can't see a recession? You have got to be the stupidest person in this solar system.
 
Quote from MandelbrotSet:

OMFG!

I just started reading through this thread ... this is freak'in hilarious. And as we all see, pretty astute.

Calling Longs in this market (ie, starting a thread saying "I Just Got Long"), is just plain silly-willy. And from a professional too! :(
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Why is it silly. I made a trade-hardly a crap trade-and I called it out. When I started this thread below was it a silly trade to call out? I don't believe we've seen those prices again.

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

And yes I will buy this zone from 675 to 650 until I'm proven wrong. I really should just sell some puts instead.....
 
I'm long as well in my IRA -- got in at 68.27, I'm at an age where I can tuck this away for 30 years and see the enormous increase that came from this investment. Having said that, the market could easily fall another 10%, maybe more, but I still believe this is a terrific entry.
 
Quote from Pa(b)st Prime:

Why is it silly. I made a trade-hardly a crap trade-and I called it out. When I started this bottom thread was it a silly trade to call out? I don't believe we've seen those prices again.

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

And yes I will buy this zone from 675 to 650 until I'm proven wrong. I really should just sell some puts instead.....
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I'm glad you noticed (even if you didn't comment on it) that I ended my comment with "from a professional".

Taking the opposite side of heavily over sold (during Bear markets) or over bought (during Bull markets) is very tempting to do, and good money can be made if it's just a small percentage of your capital, you manage your risk, and you're really just treating the trade as a one-off and trying to hit a homer.

But it isn't such a great idea when you are trying to get consistent wins. And that's what the pros do, win consistently with small gains by taking high prob bets (ie, with the trend).

Take a look at the financial news ... the end is nowhere near in sight.
 
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