I Just Got Long
- Thread starter Pa(b)st Prime
- Start date
Beautiful day, I remember when we talked that day you mentioned this. Great to see it off the ground.
even Marc Faber of the doom and gloom report is turning bullish !!!! this guys is the bear of all bears !!!
Cutten's point was well made. "Oversold" is a specific condition well apart from price action itself. A definition would be a situation where a market has so many shorts or lost too many longs who may reposition long that there's a de facto bid which may overwhelm sellers who're late.
Little evidence via p/c ratios or the Vix that the index was as "oversold" on this leg down than in November. By the same yardstick though almost half the SPX components didn't take out their November lows.
Sentiment is a tricky read. That's WHY I STARTED THIS THREAD.
Little evidence via p/c ratios or the Vix that the index was as "oversold" on this leg down than in November. By the same yardstick though almost half the SPX components didn't take out their November lows.
Sentiment is a tricky read. That's WHY I STARTED THIS THREAD.
It doesnt matter if its oversold or overbought. These are just more terms to confuse you. If its going up, then buy it. If its going down, then short it. Its the easiest concept in the world.
All you wizards want to inject theories to make this rocket science thus making it more complicated then it is.
All you wizards want to inject theories to make this rocket science thus making it more complicated then it is.
Couldn't have said it better myself. If everyone on ET was like that, it would be a great place to be a part of.
Let's be honest dude: You're pure piker.
How many day's was the "market going up" only to fail?
If one buys ES +20 just because "it's going up" then where is he wrong? When it trades back to only +19? Or +10. Or unchanged? Or God forbid if the market settles into a range. Then you'll be mindlessly buying every swing high and putting them out on swing lows.
When you were getting your ass kicked on one of those Fannies or Freddies or whatever, was it the bearish price action encouraging you to add to longs the whole way down?
How many day's was the "market going up" only to fail?
If one buys ES +20 just because "it's going up" then where is he wrong? When it trades back to only +19? Or +10. Or unchanged? Or God forbid if the market settles into a range. Then you'll be mindlessly buying every swing high and putting them out on swing lows.
When you were getting your ass kicked on one of those Fannies or Freddies or whatever, was it the bearish price action encouraging you to add to longs the whole way down?