Time to cover last week's profits
- Thread starter stock_trad3r
- Start date
Quote from Port1385:
I stole this image from a youtube blogger. This image depicts the multi-year S&P chart with monthly bars. This is a bearish chart. The current run resembles exactly how a bear market works. You have wild dumps and then rallies back up to a certain point followed by another wild dump to an even lower low. We might be in the first series of bear market rallies such as back in 2001.
However, everyone sees this. Everyone is constantly on television and in articles stating how bad the economy is and how we are in a bear market. Many notable traders are expecting the market to dump. When did the market ever dump down when everyone was expecting it?
Well, Im not going to make a call. I say if the market slides then short it until there is a noticable inflection point then go long until it rallies back to a moving average or other pivot point. If it breaks upward, then you might want to go long.
By the way, I stole this image from the following link.
http://www.youtube.com/watch?v=AcA4EYIvfeM
So on one hand you say the chart is bearish yet on the other hand you don't have money on the line. Thats the problem with a a lot of bears on ET. They either have no money at stake, or they cover on the smallest uptick. No one has the balls to open a LONG TERM short potision.
I, on the hand, am fully vested.
Once again you fail to comprehend the most basic aspects here --- Elite "Trader". This is about trading, not being a buy and hold investor. Shorts, myself included, take what the market gives. We don't have a preconceived bias about what the market should do. We trade based on what the market says. Over the 12 years I've traded full time I've beat the market averages 11 years, the last 3 years by a lot. I trade both sides of the market because it's foolish to limit your profits by only playing the long side, as you do.
First of all we never had a bear market. SPX had to close at 1252 from October highs to be called a Bear Market. However our cowards had a hissy fit and tore down our charts once they felt deluded that a recession may come. The recession has not happened yet and all the empirical data is pointing to the improvement of our economy, including the trending GDP numbers and consumer spending.
Feds have done a lot- massive rate cuts, liquidity injections, mortgage bailouts, Bear sterns bailouts and utilized many tools to stabilize our financial markets. You just ignore the these huge facts when you look into your crystal ball.
Market have no other place to go, but up howsoever reluctantly it may. Its not the problem with the economy that causes the market's turmoils its the negative sentiment + doom and gloom.
This is why no one here who is short has any long term short positions. Deep down they know there is validity to the bullish argument.
how about airlines, or truckers, or drug stocks, or auto stocks, or bio tech, radio/advertising stocks...Thats 6 off the top of my head were the big money was made on long term shorts. You 2 are so easy to own...pathetic. Also stock you are fully "vested" So a 401k is all you have at stake? Yikes you are clueless.
make money in stocks go long v, mos, aapl, goog, clf, ma, fslr, bidu,fwlt, ewz and rimm.
The smartist era of Web 2.0 and globalization isn't over. QQQQ $55 soon. GOOG $900. AAPL $250. MA $450. V $150.
i really do know how stocks and the market works.
When I say the subrime is no big deal it reall isn't.
When I say rising oil is no big deal it isn't.
When I say there is no recession and no bear market there isn't.
When I say no credit crunch there is none.
Dow 14,000. Nasdaq 2,900.
Gas will soon be 5 dollars a gallon and oil 200.
The smartist era of Web 2.0 and globalization isn't over. QQQQ $55 soon. GOOG $900. AAPL $250. MA $450. V $150.
i really do know how stocks and the market works.
When I say the subrime is no big deal it reall isn't.
When I say rising oil is no big deal it isn't.
When I say there is no recession and no bear market there isn't.
When I say no credit crunch there is none.
Dow 14,000. Nasdaq 2,900.
Gas will soon be 5 dollars a gallon and oil 200.
you nailed it again stock! Glad I would never follow any of your advise. You should stick to cheerleading the stocks in your "index", even though you have no financial interst in 90% of them....You the man!
Oh no the markets are down. It will rally in earnest later this year. The downside is limited, but why would you care considering you probably have no money in the market. I'm long Visa and MOS. Long visa since IPO.