the trend is up, market has bottomed.

Originally posted by Rod Shaft
Don't try to catch a falling safe
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I said it once, I'll say it again... (However, I do think there will be a small bounce over the next couple days)
 
Originally posted by futurecurrents
[B
While I agree that timing tops/bottoms should not be the only goal in trading, it can be one of the goals. I personally don't do it . But if one gives any credence at all to technical analysis then it follows that the possibility exists for some timing to occur to some degree of probability. There are plenty of things technically that often happen at bottoms and tops ie., volume/volatility spikes, dogies, price holding near previous tops bottoms and support/trendlines etc..

It is certainly a risky game and probably best left to very experienced traders but if Lundy is proved correct, it will be more than his ego that will be inflated!"

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Well, I DON'T doubt TA's ability to help time tops and bottoms. In fact, several times I've nailed tops and bottoms of certain stocks on an INTRADAY basis down to within 2-3 cents!! Each time I was AMAZED! But then again, I can count many more times where I got hurt badly. So now, I only time bottoms and tops very selectively and with very little shares at risk. Just for kicks.

You wrote:" It is certainly a risky game and probably best left to very experienced traders but if Lundy is proved correct, it will be more than his ego that will be inflated!""


True, more than his ego will be inflated. But let's look at the first post of this thread at 06-21-02 10:49 AM. It's July 10,2002 now. And the DJIA just made another new low today. Maybe tomorrow we'll get a bounce and some rallies afterward too. Who knows?! But isn't buying each new low and calling it THE BOTTOM for over two and half weeks a bit much? Could lead to TOTAL ruin if you keep doubling down.

but as i said if he was an "investor" with maybe 10-20yrs horizon then it's not bad to buy now.

good luck lundy

trader99
 
ta da. You guys just don't get it, its a longer term trade, it means the stops are bigger than a 2 min scalp! It means if it takes me 2 weeks to nail the bottom and we go up for 15 weeks, I make money.

ta da
 
When the Vice President of the US is sued while in office, we will not rally for a while. Deflation. Bottled water and a shotgun is the best investment at this time.
 
Dick is expendable, Cheney that is.:D

Market is now scared. SP-500 getting dumped. I am beginning to deploy cash in my IRA into the market through index funds. 25% scaled in currently.

The rest in cash awaiting.
 
In terms of frivolity, that suit is right up there with suing McDonald's because the coffee is hot.

It's a political jab. The trash that left the White House last January has made America very comfortable with its dark side.

There will be fighting in the streets before it's all over with. Prechter may be right after all.
 
chasinfla,

First, the group filing the suit is non-partisan. They have taken action against both parties in the past.

Second, Dick Cheney was the CEO of Halliburton when they cooked the books. If Halliburton has broken the law (it is under SEC investigation right now), why wouldn't the CEO be held responsible? Don't you hold Lay responsible for Enron? Ebbers and Sullivan for WorldCom?

What is political is the toothless SEC that has been put into place. Do you really expect the head of the SEC, who was appointed by Bush, to turn around and take real action against the vice president?

That would be like expecting the head of the SEC to take action against the son of the man who appointed him. Didn't happen in 1990 when Bush junior was 'investigated' for insider trading and it won't happen today.

They are all in bed together, the auditors, the SEC (best and most experienced lawyer for auditors), the corporate CEOs(Cheney, Lay) and the government.

Someone else has to stand up for the people.

http://www.dailyenron.com/documents/20020708112729-14599.asp
 
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