the trend is up, market has bottomed.

[PHISEL]

Lundy ,
you say :" I only know that my formula says this week is the bottom "
can you develop ?

 

[Bono]

Newatthis,

E*X*C*E*L*L*E*N*T post !

 

[lundy]

Originally posted by chasinfla
id like a little liquidity with my volatility, thank you.

there will be no liquidity today, i don't think. they have to expire the calls down here.

Originally posted by PHISEL
Lundy ,
you say :" I only know that my formula says this week is the bottom "
can you develop ?

develop what?

Originally posted by Newatthis
Do not panic. Women and longs first. Stay short. Too many looking for bottom. Sell the rallies. Don't go home ove the weekend long. Risk reward of it is terrible. Mid east could blow at any minute, terrorism on US soil "not if but when" etc...

no one is looking for a bottom here, and thats why it's the bottom. almost everyone i've talked to over the last few days is very skeptical about it. I'm going home over the weekend long and holding for weeks.

How can you say risk reward is terrible?

Buying on lows isn't risky, SHORTING ON LOWS IS RISKY. Follow the big money, they sell into rallies and buy into selloffs.

Only Mr. Market will seperate the wheat from the chaff, and he'll do it on his own time.

 

[Rigel]

I'm long over the weekend. Not confident, just long. Time will tell.

 

[Newatthis]

Would you rather short a new high or a new low?

The trend is down. In a down trend, i sell rallies and buy back on the weakness. In an up trend I buy weakness and sell into the strength.

This is a down trend.

If you wish to rationalize what will happen, go for it. I only look at what IS happening.

 

[PHISEL]

so, my question was :
what are the argument, the reasons , in favour of a next up-trend for you.
because what i see is a down trend, a big down trend, and nothing else.

 

[Gordon Gekko]

Originally posted by lundy
This week was the final week in the latest multi week sell off.

Expect the naz to go up 500 points minimum in the coming weeks.

and how did you come to this conclusion?

 

[lundy]

I expect 1041 on nq0u2 to be the bottom of today. Today being the bottom of a multiweek sell off.

 

[o_2_b_sean]

Fundamentally, all trading is trend following, so why bother predicting the market. Investing is dead.

 

[Bono]

Lundy,

Trading has nothing to do with tops and bottoms ... they only serve to identify a trend and trade in its direction ... u buy when u get a buy signal ... u sell when u get a sell signal ... and the tools used to get those signal vary from trader to trader ...

I think several people in this thread have been asking u what your tools are in pre-assuming a bottom in place ?

P.S. As I write those lines indices are hitting new lows ... enjoy your longs guys ...