sho long, Dow 10K. Wii weel neva se dat figger egein fer sum tyme az ze marked had kozeed upp two id fer ze lasht tyme...
The bottom is in...
- Thread starter retaildaytrader
- Start date
What would you suggest? If you look at a price chart, you are pretty much doing your Technical Analysis. I am not talking about indicator/no-indicator. Analysis on a price chart, in its broad definition, is Technical Analysis.
Are you trading like Buffett? You analyze the company's book and various ratios. If it is a good business, you will buy it regardless of the recent price movements?
My suggestions do not mean a hill of beans. Im no professional...
However, if you want to know what I think, then I think doing the "dumb trader" thing is the most advisable course. The dumb trader says that sentiment has hit a low and so its time to get back in. When sentiment hits a high, then it will be time to get out...
While I am not an ET guru or all pro trader, I can say this much...I do have a stack of TA books in a large box in the closet. I read them and understand all the different chart patterns. However, it hasnt really helped me. What has helped me is keeping it simple and not putting too much into it.
BTW, the dumb trader also recognizes when he is wrong..."Uh oh, price slid under the last low and its time for me to exit..." Just keep it simple. Whenever you see someone throw down some complex shit, then run far away from them...
However, if you want to know what I think, then I think doing the "dumb trader" thing is the most advisable course. The dumb trader says that sentiment has hit a low and so its time to get back in. When sentiment hits a high, then it will be time to get out...
While I am not an ET guru or all pro trader, I can say this much...I do have a stack of TA books in a large box in the closet. I read them and understand all the different chart patterns. However, it hasnt really helped me. What has helped me is keeping it simple and not putting too much into it.
BTW, the dumb trader also recognizes when he is wrong..."Uh oh, price slid under the last low and its time for me to exit..." Just keep it simple. Whenever you see someone throw down some complex shit, then run far away from them...
How is that for calling "The Bottom"?
Quote from Petsamo:
I don't mean to ruin anyone's party, but check this out:
We may gap down Monday !!
Like in a more recent thread, you simply do not understand how to use charts. What has the market done since that obvious higher bottom that occurred at 1040 on the S&P 500. And you put up a silly chart and claim the market was going down ?
A pretty crappy call. You couldn't have been any more wrong.
1040 was a real bottom and anyone daytrading at the time could see the heavy buying at that level. Ok so the index is up 10% when you are calling down 10%+. You missed by at least 20% which is horrendous considering its an index.
Thank you ETers for your love and support. Those ETers who chose to follow my CORRECT CALL of "the bottom" are now many times richer as a result. Just tune into my posts and I will give you the REAL DEAL on the market. Now I will let the peanut gallery have their two cents in my "bottom call" thread. All I have to ask is "who is your daddy"?