Remain calm...

Quote from myminitrading:

Bottom line is the trend is still up, the dow is not even close to its 10 day MA, SP NAZ are sitting on their 20 day MA after todays fall.

So lets see what tomorrow brings, I hope we correct down to the 50 day moving average, that would be a good entry point, maybe.
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I will change the trend. I started shorting today. Full force to shave off 10% of the market and then go sideways till October and then down another 5%.
 
Quote from piezoe:
How nice today was for traders. How nice it is to be a trader! To be flat at the end of the day and sleep well.
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How nice it will be for 98% of all day traders to do their year end accounting on 12/31/2007 and find out they couldn't beat the SP500 :p
 
Loading up my gun but Today is just the first of at least 7 to 10 down days. Not sure the % of drop per day, but We may see a dip close to 5% the worse case 15% to trap in shorts...but I see more of a 5% or little more pull back.

:cool:
 
Quote from stock_trad3r:

buy today. Either now or later.
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Just listen to him! He IS the typical dip-buying permabull. These guys always look so good at the top.
 
Quote from stock_trad3r:

the time 2 buy is now



Go long on DIA if you dont know what to buy
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Looks good here to me.
Grabbed some DIA May 130 calls right on that trendline for a swing trade. :D
 

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Quote from ticks:

Sounds like a fairly pedestrian analysis. If it really is this simple, the next leg will be where Jonny Mainstreet becomes an analyst.
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Thanks, I just make myself available to what ever the market is offering on that day.

Im just a simple man. with a simple plan. I will leave the forecasting and predicting to the MBAs
 
Quote from makloda:

How nice it will be for 98% of all day traders to do their year end accounting on 12/31/2007 and find out they couldn't beat the SP500 :p
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Maybe that's because many have already beat the S&P and we're only in May. I'm up 20% YTD. Last year was over 125%.

If one is a buy & hold "investor" then that approach is fine. But I was under the impression that ET was actually a trading site.
 
BlueStreak ???
I would like you to confirm this is the time to buy and 100% up room to go !! then I'll no for sure to hold on to my shorts .jake
 
Still time 2 buy

I know market down a lot ..don't have to remind me

Yes it may seem too early to buy this dip but-the technicals & fundamentals are strong and we're just seeing some profit taking.


if your gonna go long don't take super leveraged positions since your losses are obviously amplified should the market keep going lower.

We're just seeing some profit taking. The underlying trend will resume.
 
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