Market crash this week

[alloyGTR]

Quote from Tsing Tao:

BTFD!

in all seriousness, and i'm not touting one way or the other, i do find it hilarious that people get all excited about 1 full day of down and a partial second day of down after what...a 6 month rally?

lets keep things in perspective. we all know the market is overbought. we all know it has defied fundamentals for a long time. could this me "it"? maybe. trade the price action. leave the crystal balls to gypsies!

+1

It always makes me laugh when the bears get excited about a pull back, the bulls have been loading up their accounts for the past 2 years riding the trend and the amount of bears that have been selling this rally the whole way up is insane. I suppose when you suffer torrid months of financial pain and squeezing the first sight of the prospect of of a change in their fortunes is something to get excited about......

 

[Larson]

krazy, you are a permabull, right?
It has paid off, but the question is, will it continue.

 

[krazykarl]

Quote from Larson:

krazy, you are a permabull, right?
It has paid off, but the question is, will it continue.

Admittedly I am: historically I'm long/short 80%/20% - for the way I trade I'd rather be neutral than be short.(not optimal, I know, but it works for my style) When I do go short it's always specific companies or individual issues.(google was one of my biggest shorts)

Part of my thesis is that the long-term bias is up and that corrections are always sharper than advances. There will be a correction, but pending a 6-sigma event, I don't show us there yet.

 

[heilbronner1]

Quote from alloyGTR:

+1

It always makes me laugh when the bears get excited about a pull back, the bulls have been loading up their accounts for the past 2 years riding the trend and the amount of bears that have been selling this rally the whole way up is insane. I suppose when you suffer torrid months of financial pain and squeezing the first sight of the prospect of of a change in their fortunes is something to get excited about......

I have seen it all in 1998 and 2001. The bulls of those days are out of business.

Hopefully, you have your money in the pocket.

 

[heilbronner1]

I already take part of the profits and close some positions in NQ at this level.

"power wears out those that don't have it"

 

[LEAPup]

Quote from krazykarl:

Admittedly I am: historically I'm long/short 80%/20% - for the way I trade I'd rather be neutral than be short.(not optimal, I know, but it works for my style) When I do go short it's always specific companies.

Part of my thesis is that the long-term bias is up and that corrections are always sharper than advances. There will be a correction, but pending a 6-sigma event, I don't show us there yet.

+1
Sounds like we have something in common!

 

[Ghost of Cutten]

Quote from heilbronner1:

I already take part of the profits and close some positions in NQ at this level.

"power wears out those that don't have it"

Wow, a whopping 3% decline from the highs in the S&P and you are already exiting? Sounds like a real home-run there!

 

[heilbronner1]

Quote from Ghost of Cutten:

Wow, a whopping 3% decline from the highs in the S&P and you are already exiting? Sounds like a real home-run there!

IMHO NQ is down a bit more than 4% within two days. Not too bad, IMHO.

Of course it depends on the size someone is trading.

 

[tivthetrader]

Bernake already printing pictures of oil to cure the problem.

 

[Maverick74]

Quote from heilbronner1:

IMHO NQ is down a bit more than 4% within two days. Not too bad, IMHO.

Of course it depends on the size someone is trading.

Let me guess...you sold the very top tick and covered today on the tick low? Gotcha. Dude, I think you made 1% on this short. Congrats. You have a long way to go to make back the other 80% you lost on this rally.