Surf Report

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southall said:
DJIA was the lagging/weakest index prior to this spike.

NDX is making new all time highs everyday.
The Russell 2k is less than 10 pts off its all time high.

Only a matter of time before the DJIA and S&P follow.

OP is just 190 pts in the money here.
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Surf's next book will be: "Beaten by the machines."
 
Random quote from the Machines:

"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong."...George Soros.
 
not long and we get the usual humble post from Surf. I was wrong, closed for a small profit (demo). New all time highs. Then all in short again (10 demo units) because THIS time, this is the big one. lol what a punk.
 
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Lessons to be learned. Don't be like a termite in a yo yo. When the market is generous to you take your profits. Get out when it is taking your profits. He actually made a pretty good call from the time he entered his last position. He had almost no risk, if any, from entry until even now. Even though it is very low probability, the B.O. of the bear channel could fail, and a 1000 point drop could happen but that is highly unlikely before new highs are made. His next test will be to see if he will take a loss or be like a termite in a yo yo again.

All in all, for his type of trading, his last trade actually was a good call. Over 700 points. Just alot of adversity along the journey and he could have made much more than that by jumping in and out on various occassions.

Hold on tight to your billfold boys and lock those profits in cause when the market gives you some it aims to grab it back as soon as it can and then some.

Did anyone pay heed to my post https://www.elitetrader.com/et/threads/surf-report.306890/page-195#post-4445276

Of course not. Who listens to chart readers that play off of patterns these days? Especially old chart readers!
 
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