No good reason for the selloff

Dang, lots of different oppinions here. Some i agree some I don't. The way i see it and trade it, we are on the bottom. So I do longs of RIMM with cash, new popular products, and upward momentum and hype. Its a great play that has to be played smart in this volatile environment. But the same goes with all the stocks. I buy dips and sell them soon after because they dont take long to be profitable. If it moves against me, I see little point in dumping it because the next day it will be profitable. If we weren't on the bottom, then I wouldnt play this way. Even if we do test the lows, its really not that far away and Ill just buy more RIMM because it will massively rally up. Testing a low will certainly be the most profitable long to get, and I'll snap them up.

But who knows if we will test bottoms with all the itchy trigger finger bargain hunters snapping up every selloff. Thats what base building is, and I would enjoy it immensely if we stay down here all year long. Its a traders paradise and everybody but Warren Buffet should be making money.

And shorts can make good money to, but I just prefer being long at the bottom to enjoy the up breakouts.

Today turned out to surprise negatively and I wish I had shorts, but I got cheaper longs, so Ill make money on the bounce back up towards killer earnings.:D
 
Quote from S2007S:

I have been PESSIMISTIC since I began posting here.

Do you actually think the turnaround is coming over the next 12-18 months, do you actually think throwing TRILLIONS of dollars at this crisis is going to fix the problem, do you actually believe this economy is going to come out stronger and better after this is all over. I DONT.....

Aside from that,

I didnt say the economy is going to get worse into 2020 what I am saying is that everyone BELIEVES that we are nearing the end of this crisis and that the outcome from throwing trillions of dollars at the problem is going to be the solution to a new economy, this is false, what I do think is that this economy will not see any growth for many, many, many, years. You have to understand 2/3 of the GDP is based on consumer spending, the consumer doesnt have a dime to spend in this economy right now, retail #'s can show for that, another thing you have to understand is that these last 2 decades of growth especially the last decade has been built on easy credit and tons of leverage. That is GONE, all the easy credit and low interest rates created this false impression of a great economy that never really was anything real to begin with. Where is the consumer going to find money to spend, spend, spend and keep the economy on its feet??? Thats all this economy is based off of is consumer spending, without the consumer the economy is nothing, GDP has fallen off greatly and will continue to stay at these levels for quite sometime. Even if there is a bump in GDP growth somewhere down the road it will be temporary. Many see an economic recovery sometime in 2010, with GDP growing @ 2.2% YOY, these are the same people who probably thought in 2006 and even 2007 that GDP would be a whopping 4-5%. My take on GDP is 0-0.5% YOY for the next 5 years++.
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Thank you for clarifying.
 
Quote from S2007S:

I was NOT bullish when the market was going up, I knew the entire time it was a housing bubble and unlimited LEVERAGE that was creating a FALSE bull market. A bull market that should not had existed in the 1st place but only did because of historical low interest rates and free monopoly money and credit to everyone and anyone.
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If this is true then congratulations, you saw something most others did not.
 
Quote from stock_trad3r:

markets should be green

this selloff makes no sense. idiots keep selling. The fudamentals of the US economy are sound.

nothing changed at all regarding the economy, except for financial and retail sectors.

Those two sectors drag down everything.

No shit the 2nd tarp i the same as the first. What else did ppl expect?

These liquidity injections are working. Stimulus works. Bailouts work.
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Knew that this was a ST3-created thread as soon as I saw the title.

And of course it includes your normal razor-sharp analysis of the current market (above).

Whats the matter, did someone pull the football away just as you were about to kick it? LOL

charlie_brown_lucy_football.jpg
 
Quote from S2007S:

Right, all the same, wake up and face what is happening, I have been posting here since 2006 and posted all the articles I could get my hands on about the upcoming credit crisis, how anyone did not see this coming is BEYOND me, that last bull market rally we had in these markets was a FALSE BULL MARKET RALLY, it was all a FU$KIng DREAM, it was all built on WORTHLESS MONOPOLY MONEY, how can anyone think these markets are going to sustain themselves at these levels with a global crisis at hand thats not even close to finding a bottom.
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And it really doesn't matter because you haven't made a DIME off of your bearishness because YOU DON'T TRADE.

If you did, you'd be more than happy to share a simple "screen-shot" of your positions; as many posters here have requested. But after nearly 8,000 posts on ET, you have shared nothing but worthless drivel.

Congratulations!
 
Quote from ByLoSellHi:

I'm trying to think of the PERFECT job for you. It's on the tip of my tongue, but I just can't think of it at the moment.
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Perhaps you had something like this in mind?

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2301077>
 

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