Im going long Ultra SPY (SSO) as of today base price is 15.75

[MandelbrotSet]

What's the point of calling Longs in a severe downtrend while the market (appears) to be trying to find a bottom?

It's weired ... the number of Long Calls around here that turn into mush in a matter of hours.

Again, what's the point?

 

[trader_david]

those guys are stingy guys. they just know buy low and sell high. think they are smart if the market really firms up a little bit (most just short covering burst:short sale setup), but chances are really slim.

when i am a begiiner, I love this buy low and sell high game, until one day i found why I roll rock toward the mountain top, do very laborious trading and make almost nothing, sometime i was caught off guard, and I rode a stock from top to the bottom, man, just one deal, I lost all winnings I did, just in one trade! actually it is pretty easy to go with the trend, than agaist the trend, just like rolling a rock from top to the bottom, just one mouse click effort, it will automatically roll down to the bottom. most people did not get it since they are afraid of short squeeze, opportunity missing, they can not think out of the box! that is why 90%average Joe go broke one after another, they are pure suckers!

Quote from MandelbrotSet:

What's the point of calling Longs in a severe downtrend while the market (appears) to be trying to find a bottom?

It's weired ... the number of Long Calls around here that turn into mush in a matter of hours.

Again, what's the point?

 

[riskfreetrading]

Quote from trader_david:

those guys are stingy guys. they just know buy low and sell high. think they are smart if the market really firms up a little bit (most just short covering burst:short sale setup), but chances are really slim.

when i am a begiiner, I love this buy low and sell high game, until one day i found why I roll rock toward the mountain top, do very laborious trading and make almost nothing, sometime i was caught off guard, and I rode a stock from top to the bottom, man, just one deal, I lost all winnings I did, just in one trade! actually it is pretty easy to go with the trend, than agaist the trend, just like rolling a rock from top to the bottom, just one mouse click effort, it will automatically roll down to the bottom. most people did not get it since they are afraid of short squeeze, opportunity missing, they can not think out of the box! that is why 90%average Joe go broke one after another, they are pure suckers!

Great post!

 

[ElCubano]

Quote from MandelbrotSet:

What's the point of calling Longs in a severe downtrend while the market (appears) to be trying to find a bottom?

It's weired ... the number of Long Calls around here that turn into mush in a matter of hours.

Again, what's the point?

it's the "line in the sand" point...

1000 SSO at 15.78
400 qld 41.28
1000 XLF 7.07

thats what i have so far....no stop whatsoever...Im going down with the ship if need be. I will not buy anything else for a week or so...I dont care what happens..wish me luck

 

[Illum]

Quote from ElCubano:

Im going down with the ship if need be. I will not buy anything else for a week or so...I dont care what happens..wish me luck

You need no luck, you already know what is going to happen

 

[drsteph]

We're all fatalists now...

I'd like to hear from one of the real old experienced traders that lurk on this board what they think about their junior guys buying here to establish a long because "its gone so far down already, it just CAN'T go any further!"

I think I already know the answer to my own question, but still wonder what the old salts are doing. Those who have lived through the '87--'92 period, specifically.

 

[trader56]

Quote from Ivanovich:

At the time you posted, the low of the day was about 15.52 (which was the current price, coincidently). You would have been stopped out. Now it's 15.25. Or was it that all along?

You don't expect much credibility when you don't post specifics, right?

Ivan,

This is the same tool who said he was shorting gold last Friday in this same forum "no matter what anyone on ET says."

He doesn't trade. See if his IP is another Community College like stock_turk3y.

 

[Port1385]

If I showed this chart to some 2nd graders at the local school, what conclusion would they come up with? I bet their conclusion would be a lot more accurate then poor ole Ivanovich and his Forex chat room buddies

The obvious conclusion is that there is profit to be made on the bear market swings...considerable profit. You can sit on your hands, but I am making money while Ivanovich&crew sits in their forex chat rooms wondering how to make a dollar and why their 401k is in the good ole crapper.

Talk about tools and fools. You only need to look at mods like Ivanovich who moderate a trading forum, but have posted losses for the last 3 years trying to make a buck off of Forex.

Where does Joe and Baron get the mods for this site? In the Forex chat rooms? I'd like them to come to this thread and explain where they got Ivanovich?

http://www.dshort.com/charts/bear-recoveries.html?current-bear

 

[4444CJones4444]

Since the Oct lows the SPX, on average, took 4 days to rally 12%, 8.5%, 19%, 11%, 8% and 8.5% from each sizable retreat.

Since Feb 9 the SPX has retreated 19.5% with no real rally. Unless the world really is ending, I expect a 10-15% rally in the next few days.

A larger rally, say 20% or so, wouldn't surprise me at all. If I'm shorting everything and making a killing from the market, a lot of other people are too. It's time to shake things up and keep the shorts honest.

 

[Ivanovich]

Quote from Port1385:

If I showed this chart to some 2nd graders at the local school, what conclusion would they come up with? I bet their conclusion would be a lot more accurate then poor ole Ivanovich and his Forex chat room buddies

The obvious conclusion is that there is profit to be made on the bear market swings...considerable profit. You can sit on your hands, but I am making money while Ivanovich&crew sits in their forex chat rooms wondering how to make a dollar and why their 401k is in the good ole crapper.

Talk about tools and fools. You only need to look at mods like Ivanovich who moderate a trading forum, but have posted losses for the last 3 years trying to make a buck off of Forex.

Where does Joe and Baron get the mods for this site? In the Forex chat rooms? I'd like them to come to this thread and explain where they got Ivanovich?

http://www.dshort.com/charts/bear-recoveries.html?current-bear

See this thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=136300&perpage=40&pagenumber=1

where I make live calls in real time and post real wins and losses, complete with stops, profit targets, etc. I think the thread is some 20 pages of ongoing discussions.

I don't post one thing, do another and then say I did a third thing. You wouldn't last one week in Forex.

95% of the folks on this site know you're entertainment, nothing more. The other 5% are trolls like yourself.

The only thing I can say is I'm glad you stopped posting your crap in the "trading" section, because it would just end up in chit-chat anyway.

So, back to this trade. You got stopped out, right? Or did your stop magically change right in time?