The Surf Report--part 2
- Thread starter marketsurfer
- Start date
This is called Supertilt....
Anyhow, just to be contrarian and to give you nightmares, what we had here on the daily chart is a nice doubletop and falling. This is also a possible dragon reversal and putting in a 3rd, much higher top. The area to watch is around the SMA 9 line on the cash, somewhere around 1325.
Since the Height is 60 pts, IF the Failure does happen around 1325 and the market reverses up (this nicely fits a sudden agreement on the debt ceiling raise) then the 3rd top target would be 1325+60= 1385ish...
So we just have to wait and see that area. Since we are close to it already, tomorrow could be a narrow range "waiting for the government" day, then Thursday when they reach an agreement a giant rally and keep going up for the next few days.
Again, assuming there is a dragon Failure...
Visualization:
Funny how you like Altucher. Another guy who can write all day about how to trade, but can't trade himself.
As far as the people that don't mitigate risk? They are the ones who have long and very successful careers. They do better than just "living".
Ones who don't pay attention to risk, some are scratch traders at best, but most lose everything.
It's hilarious how you talk about the ones who control risk and how they are inferior. Yet you have been on here the last week or so on "tilt" talking about this is the trade which either ends your career, or keeps you breathing until the next blow up situation.
I try defending you on here.....but you really make it an impossible task.
As a person, Surf's cool in my book. He's a good guy. That's why I post on his thread. There are some good conversations, and some funny entertaining things.
But as a trader he is a disaster at times. I really did think he was a retail trader with a real account. But this latest episode blew that theory out of the water. He had me fooled.
I guess his real objective is not making money (ergo....not trading real money), but to stir up shit and get people to post here. Funny how he made this "trade" as the market was dead and his thread was sleeping.
Oh well....it was fun while it lasted.
Quote from Pekelo:
This is called Supertilt....
Anyhow, just to be contrarian and to give you nightmares, what we had here on the daily chart is a nice doubletop and falling. This is also a possible dragon reversal and putting in a 3rd, much higher top. The area to watch is around the SMA 9 line on the cash, somewhere around 1325.
Since the Height is 60 pts, IF the Failure does happen around 1325 and the market reverses up (this nicely fits a sudden agreement on the debt ceiling raise) then the 3rd top target would be 1325+60= 1385ish...
So we just have to wait and see that area. Since we are close to it already, tomorrow could be a narrow range "waiting for the government" day, then Thursday when they reach an agreement a giant rally and keep going up for the next few days.
Again, assuming there is a dragon Failure...
Visualization:
Thanks, Pekelo. There is not going to be a rally regardless of what happens.
You can wait all you wish, that's the difference between you and I, I act instead of waiting.
victory is on the horizon!
surf
there is a margin stop in place, otherwise nothing from me.
A meltdown is 100% guaranteed to happen--- no question about it.
surf
I can absorb up to 1337.75 in the account, no further. That's simply not going to happen, so I am not worried about it.
I guess, if entertainment value is your litmus test of a "good guy". Leaving aside his haphazard trading record, he's got like... 30 + aliases. Not normal behavior of a ... good guy.
I think the reality is that Goodboy's grandstanding just provides an adversary for our own soapboxes. We like having someone to rant against. The layman's definition of why that works is "troll".
Goes back to the folly of self-concern.