the trend is up, market has bottomed.
- Thread starter lundy
- Start date
he he, well perma-bears are just as bad as perma-bulls.
Don,
That's life I suppose, or should I say that's the market
when it goes up Bulls think they're genius, and when it turns around and goes lower, Bears laugh at them ... and vice versa ...
If there's anything I realized so far it's that :
1) Lundy needs sunglasses
2) The DOW outperformed the NDX today
3) The title of this thread should have been anything other than "the trend is up" ... maybe just "this is the bottom" ...
simply 'coz as far as a stupid dummy trader is concerned
up trend = higher peaks + higher troughs
and since we haven't seen that yet, it makes us all idiots arguying that the sun doesn't come up in the morning ... and the moon at night ...
Good Trading ... and Good post Don !
That's life I suppose, or should I say that's the market
when it goes up Bulls think they're genius, and when it turns around and goes lower, Bears laugh at them ... and vice versa ...If there's anything I realized so far it's that :
1) Lundy needs sunglasses
2) The DOW outperformed the NDX today
3) The title of this thread should have been anything other than "the trend is up" ... maybe just "this is the bottom" ...
simply 'coz as far as a stupid dummy trader is concerned
up trend = higher peaks + higher troughs
and since we haven't seen that yet, it makes us all idiots arguying that the sun doesn't come up in the morning ... and the moon at night ...
Good Trading ... and Good post Don !
A day trader is not supposed to predict. He is supposed to be robotic. Go with the trend (in order of importance, daily trend then overall trend) wait for pull backs or pops and go with the trend. Daytrading 101 that took me a year to get through my stubborn head.
The heading of this thread, in my opinion, is very wrong. A trend is not the begining of a movement, its the movement over a period of time. Maybe he meant to say, the market has bottomed and now the market will begin an up trend. But either way, a day trader does not make those predictions. For every one time that prediction works it will go wrong a thousand times. Daytrader, don't predit, be robotic and consistent. You don't have to right 100% of the time (I wish I was right 1 % of the time). 50% right with cutting your losses fast make you a winner in the pocket.
Funny thing how I had to hear this stuff over and over again for so long until I made it my practice. So now, after losing so many thousands I can start making hundreds.
Yeah that is the point of trading...predicting...BUT:
1) All technical indicators on the stocks I trade...SUNW, WCOM, CSCO are SELL...it is rare they ALL point in this direction....check out www.bargraph.com for TA buy/sell signals
2) Bottom pickers are all either green or bankrupt.....or anal masturbators. Possibly soon to be both in the case of you bulls.
3) Can you predict political conflict resolution/inflamation? With Ind. Day coming up, one bomb threat in the US will most likely cause a massive gapping down come the following Monday
So, yeah, in a sense I would say that I am predicting bearish....BUT more importantly I am saying NOT BULLISH!!! Besides, the trend is your friend but you can still take advantage of futures rallies if youre one of us privileged....Day Prop. Traders:
1) All technical indicators on the stocks I trade...SUNW, WCOM, CSCO are SELL...it is rare they ALL point in this direction....check out www.bargraph.com for TA buy/sell signals
2) Bottom pickers are all either green or bankrupt.....or anal masturbators. Possibly soon to be both in the case of you bulls.
3) Can you predict political conflict resolution/inflamation? With Ind. Day coming up, one bomb threat in the US will most likely cause a massive gapping down come the following Monday
So, yeah, in a sense I would say that I am predicting bearish....BUT more importantly I am saying NOT BULLISH!!! Besides, the trend is your friend but you can still take advantage of futures rallies if youre one of us privileged....Day Prop. Traders:
everybody does everything. Fundamental long term investors look at charts and claim they don't beleive in technical analysis. Day traders claim they don't care about fundamentals and yet they trade off of earnings reports and fed rate changes.
Gaps are not just seen on charts or things like that. Gaps also exist in certain membranes of the cranial cavity that are produced by free air flow between the hearing recpticles of the human species.
Oh sorry, that was a technical analysis.