Market bottom is in- End this doom and gloom

Quote from S2007S:

Your one of those dont fight the fed crowds, eh.....

I have heard that quote to many damn times, the dow is down over 2000 points since then....
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You obviously weren't around back in 1982 when the FED "eased" 11 STRAIGHT MONTHS IN A ROW.

I was.
 
Stock boy and his twin brother...

If you are looking for someone to actually teach you how to trade, drop me a line. I see this as a desperate cry for help, so I will help. Time give back as I had a mentor at one point in my life.
 
Quote from Landis82:

This is a very simple "motto" of mine that I learned from my early days at Tudor Investment.
It makes a lot of sense!

Unfortunately, there are people on here ( most of whom that don't even trade on a daily basis ) and they cannot even begin to APPRECIATE these most signifcant words.
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It is so rare here on ET to find a golden nugget of wisdom. Every trader out there should make a poster with your words on it and read it every day. I might just do that for our traders here!
 
Quote from HedgefundTrader2:

Today was the day when market could have crashed. Writings were on the wall, futures down big time, a huge 200 points down open, VIX at 35 and spiking hard and yet it did not happen.

SPX revisited our Jan 22nd lows and did not take it out even with the horror of Bear and Sterns background music playing on. I guess the Titanic had every chance to hit the iceberg and go under, but it did not.

So do not come back and bring your tales of sorrow and lament everything is gone. You are lucky you live in America whose Government did everything today to keep our financial markets orderly and they will do more with or without you. Stop fighting the Feds for God's sake! They own you and your balls along with all the money in this country!

Tomorrow is another day. Feds will cut rates and you know what happens on that day? As per Stock Trade3 big white candles lit up the asses of those bears and shorts? That's right. If you are short your account will be wiped out. Stay on the sidelines or go long with us.

I firmly believe with VIX at 35, heavy volumes and Jan 22nd lows still intact on SPX , we put in a solid bottom that cannot be breached easily.

I hope you have a nice 2008 and no doom and gloom and talk of this imaginary recession.

This is America not a land of cowards.
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One thing at a time their super bull. Let’s clear some resistance first. Your double bottom theory is still unproven. Not saying it won’t happen, it just hasn’t happened yet.
 

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Quote from MAESTRO:

It is so rare here on ET to find a golden nugget of wisdom. Every trader out there should make a poster with your words on it and read it every day. I might just do that for our traders here!
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Thanks!

Between my days with Victor Sperandeo and PTJ, I learned that "motto" and one more . . .

"What is obvious, is obviously WRONG!"

Best of Luck!
:cool:
 
Quote from HedgefundTrader2:



Please deal with me with rational //intellectual arguments and I will oblige you with lot of fun and education and trading psychology.
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You mean, you will actually start with those? I haven't seen anything like that from you yet
 
Don't fight the Fed is much more meaningful in the hiking cycle at the end of a bull market when raising interest rates cuts of the low incremental spread over WACC projects than the easing cycle where lower rates alone won't stimulate banks to lend and where clearing has yet to take lace - low rates can be prsent for a long time before recovery takes place whereas hiking was able to chocke off even the internet boom where 'new economy' stocks were said to be "immune" to higher interest rates beacause [insert BS].

I would argue that what is to be observed is the downward momentum and it is this that is likely to continue - or maybe I am loking at the wrong guru quote or it is just going comletely over my head.
 
Quote from MAESTRO:



Observe what is happening, and assume it will continue . . .


It's pretty simple really.

I like this a lot! Inertia is the cause of Fat tails! I have been saying it for years. Right on!
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Sounds like you believe in trends, MAESTRO. That's a bit of a departure from some of your posts in the recent trend thread:

http://www.elitetrader.com/vb/showthread.php?s=&threadid=118599&perpage=6&pagenumber=1

Welcome to the dark side. I'll show you the latest dance moves and teach you the chants we engage in after we start the trend worshipping camp fire. I assume you are already in possession of the requisite eye of newt?

:D
 
Quote from mokwit:

I would argue that what is to be observed is the downward momentum and it is this that is likely to continue - or maybe I am loking at the wrong guru quote or it is just going comletely over my head.
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To me ( as a Trader ) it means that the market is a "buy" whenever it looks like it is about to go to ZERO because the sentiment gets so "thick" that you can cut it with a knife. In fact, you can literally fade the "World is Coming to An End" crowd here on ET and have your TV tuned into CNBC and gauge when the perma-bull announcers start to choke on their words and are unable to speak.

You OBSERVE the sentiment and can "position" yourself accordingly buying selected stocks that you have a good "feel" for and sell them back up on the RIPS.

Every push down to new lows snaps right back up. It's like someone in a swimming pool trying to push a soccer ball down underwater.

It can only go "down" so far, before coming back up.
People here like "S2007S" keep complaining about how "the market didn't go LOW enough" yesterday, but to me those are words that reflect an attitude that is most unsuccessful for someone that is a TRADER because it shows a built-in BIAS.

If you are CLEAR in your ability to OBSERVE, you will be successful as a Trader.

If you trade day-in and day-out for a living, I think that such a "motto" ( Observe what is happening and assume it will continue ) can really ring true for you because it allows you to TRADE moves ( such as LEH and GS today ) without "rationalizing" your way out of trading.

So many people here are so "biased" from the get-go that it literally "paralyzes" them from pulling the trigger when something moves contrary to their belief system.

That, to me is a most unsuccessful approach.
 
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