I tend to agree with you SA but in the short-term the market is screaming buy. I have a very simple trading methodology. "Listen to the market and follow along." I could be way, way, WAY off base by being bullish but here's the rub....I'll still make money. I feel pretty bullish at the moment and I'm holding overnight. If I wake up to hear growling I'll just switch gears. Requirement number 1 for a trader....develop a bias and a game plan to trade that bias. If the game plan ain't working toss it out the window and trade what happens. What could be easier?
Talking about a "Sucker's Rally"
- Thread starter SouthAmerica
- Start date
It's already happening. Have you listened to the Mastercard commercials lately? They have thrown a key word in there, "for everything else there is <b>debit</b> mastercard." People's wallets are shut tight with a vice but in the short-term, the market really doesn't care. If it wants to fly it will fly.
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November 13, 2008
SouthAmerica: Reply to ProfitTakgFool
I gave some thought for me to come out with an analogy regarding your charts to try to explain to you the chances that you are taking when you use this historic information right now.
Letâs say that you are a ship that goes around the oceans using the usual charts and they have been doing that for a long time and usually there are no problems.
But now there is a global war and there are minefields all over the place â the old charts will take you around the globe as before, as long as you donât hit a minefield and get blown up into pieces.
The global war in this case is the global financial crisis â the minefields are all over the place and can be just ahead of you at any time. In this environment when you least expect there is a new minefield that blows somebody into pieces just ahead of you.
The best solution is to stay out of the water until it is safe again to resume your travels.
Remember it is time of war and using the old charts might not be as safe as you think since the ocean is full of floating mines.
.
November 13, 2008
SouthAmerica: Reply to ProfitTakgFool
I gave some thought for me to come out with an analogy regarding your charts to try to explain to you the chances that you are taking when you use this historic information right now.
Letâs say that you are a ship that goes around the oceans using the usual charts and they have been doing that for a long time and usually there are no problems.
But now there is a global war and there are minefields all over the place â the old charts will take you around the globe as before, as long as you donât hit a minefield and get blown up into pieces.
The global war in this case is the global financial crisis â the minefields are all over the place and can be just ahead of you at any time. In this environment when you least expect there is a new minefield that blows somebody into pieces just ahead of you.
The best solution is to stay out of the water until it is safe again to resume your travels.
Remember it is time of war and using the old charts might not be as safe as you think since the ocean is full of floating mines.
.
And if the two ever meet :eek: :eek: :eek: could be the end of times.
That's why you never go sailing without a life jacket 
The market has been in a trading range since october 9th. Not a very good risk/reward ratio for the short side.
Techincals are USELESS without accompanying fundamentals. There is NOTHING in the news today that warrants this rally. NOTHING, so the rationale is "we tested the lows successfully."
Whoever didn't sell at close deserve to lose all of their money because they're too stupid to think.
It'll start going down tomorrow.
Whoever didn't sell at close deserve to lose all of their money because they're too stupid to think.
It'll start going down tomorrow.
maybe not today, but the market looks to the future