The Surf Report

[Thunderdog]

Ouch. That's gonna leave a mark.

As an oft-quoted and interviewed master trader who lends his credibility to newly published financial tomes with his endorsements, should you not know better than to take "tips" from others? Remember on page 877 of this thread wherein I suggested that you take a stick to your consultants:

http://www.elitetrader.com/vb/showthread.php?s=&postid=1596330#post1596330

I do hope you have that stick handy.

 

[JimmyJam]

Quote from marketsurfer:

continuing to hold, expecting down day in DJIA.

surf

Jeez man, if we ever meet up, the first beers' on me.

Dayum that was an insane move, I'm lucky only down $250 on the day, I"ll get a bandaid and try to finish out the rest of the week in the green.

Peace,

JJ

 

[marketsurfer]

BRUTAL DEFEAT crushed on this trade.


taking a break here-- be back soon.


all the best,

surf

 

[nkhoi]

I have a hunch analand won't be seen today.

 

[annaland]

Quote from nkhoi:

I have a hunch analand won't be seen today.

Not sure what you mean, but I'm with surf right now, if you must know.

He's looking pretty pale but says hi.

-anNaland

 

[Tracy McGreedy]

How does one get "crushed" on a 2.5% move? Were you excessively margined? Sorry about your day, but it wasn't like black monday in reverse or anything? Just wondering.

Quote from marketsurfer:

BRUTAL DEFEAT crushed on this trade.


taking a break here-- be back soon.


all the best,

surf

 

[Lamont_C]

Quote from Tracy McGreedy:

How does one get "crushed" on a 2.5% move? Were you excessively margined? Sorry about your day, but it wasn't like black monday in reverse or anything? Just wondering.

First, he doesn't understand trend.

Second, he doesn't understand support and resistance.

Third, he doesn't listen.

But what the hell

LC

 

[Wayne Gibbous]

"I don’t ever believe in selling the stock market short." - Victor Niederhoffer

 

[JimmyJam]

Quote from Tracy McGreedy:

How does one get "crushed" on a 2.5% move? Were you excessively margined? Sorry about your day, but it wasn't like black monday in reverse or anything? Just wondering.

Actually that was the most vicious move I've seen in the past ... 3.5 years of having my ass glued in the seat and my eyeballs on the screen.

If I hadn't seen it, I wouldn't have beleived it could have happened. Pretty much the best arguement you'll ever see for only taking trades with the primary trend.

It was 10 times worse than the drop back in feb 2007, at least with that one, the price action gave you some warning ... with this move, there wasn't any warning, just BLAM!, a 300pt-YM-move in like, 10 minutes.

Good trading,

Jimmy Jam

 

[marketsurfer]

Quote from JimmyJam:

Actually that was the most vicious move I've seen in the past ... 3.5 years of having my ass glued in the seat and my eyeballs on the screen.

If I hadn't seen it, I wouldn't have beleived it could have happened. Pretty much the best arguement you'll ever see for only taking trades with the primary trend.

It was 10 times worse than the drop back in feb 2007, at least with that one, the price action gave you some warning ... with this move, there wasn't any warning, just BLAM!, a 300pt-YM-move in like, 10 minutes.

Good trading,

Jimmy Jam

im just now catching my breath and looking back at what happened. the market mistress handed me her legacy of brutality, a humbling experience--- i couldn't get out-- unreal. seconds prior to the announcement price pulled back on the YM about 10 points, this was not a good sign for the shorts, i was full expecting a move up of 10-30 points then a slam down-- but the opposite occured. i tried to bail then reverse, but everything was locked up, minutes later, 200 points from pre announcement levels, positions closed--- faster, louder and more severe than anything i have seen in a LONG time--- i have been humbled and am not trading for awhile--- plus my currency positions were wrong way at the same time--- BRUTAL--positions closed 100 pips away from margin calls in FX-- taking a break, stepping back, reevaluating methods/tactic. good luck to you.

regards,

surf


ps. anyone here fortunate enough to be on the right side of of this move??