Warning: The Next Wave Down Starts Now

Honestly, I think walking and driving around town for some trading ideas isnt a bad idea.

For example, Starbucks. Coffee disgusting, 1 drink costs over 5 dollars (short starbucks), McDonalds line always packed (long McDonalds)etc. etc. etc.

A year or so ago, all those signs up around the block saying "House for sale" (short homebuilders, short financials)

Open your mind and make candid observations on what is going on around you. Maybe you might pick up some trade ideas.

The guy who went down to the Chevron station and observed that so many people were picking up Monsters and then invested 5000 into Hansens is laughing all the way to the bank...

Quote from makloda:

And this is how you trade the market yes? You take a walk around the block, get your anecdotal impression of 'how things are' and place your bets. LMAO
More...
 
Quote from jackstone54:

I dont believe Im wrong on this call. Remember what month this is...April and the next one is May....just how many Mays have been bullish in the last 100 years?

Right now the indexes are struggling to make it through the resistance, but I dont believe it will make it through....why you might ask? Just walk outside and look at whats going on around you. The fundamentals are simply horrible.

This has been nothing more then a consolidation and then it will break to much lower levels over the summer. The odds are in favor of selling what you have right now. When May hits, who knows what will happen next...if your a gambler and believe in going with the odds, then the odds are in my favor...
More...

Once again, we have someone here on ET that believes that trading TIME is the successful way to trade . . . Last time I checked PRICE is what matters, not time.

Furthermore, as someone else here alluded to your evaluation of the "fundamentals" leaves a lot to be desired . . . There are so many sectors inside of the S&P that are acting well that you obviously have you head buried in the sand.

Meanwhile, the SPX just made new highs this afternoon for the move. With a WEEKLY close today up at these levels, the charts are even more bullish - - - especially with the strengthening of the dollar, which we did not have as a supportive backdrop at the previous resistance levels in February and January.

Things change, but you act as if the market is always 'static' because YOUR BIAS is "static".

Keep rationalizing your bias.
It's a great way to head for the poorhouse.


:D
 
This is funny- "In simple terms, it can be the filtering of information that conflicts with what one already believes, in an effort to ignore that information and reinforce one's beliefs. In detailed terms, it is the perception of incompatibility between two cognitions, where "cognition" is defined as any element of knowledge, including attitude, emotion, belief, or behavior. The theory of cognitive dissonance states that contradicting cognitions serve as a driving force that compels the mind to acquire or invent new thoughts or beliefs, or to modify existing beliefs, so as to reduce the amount of dissonance (conflict) between cognitions.

Oh poor jackstone has CD now does he? That sounds like more of a bathroom issue. Have you ever watched any of these guys in the industry who come on tv with their forecasts or go to any chart room and have a talk with the plotters! You want to talk about OCDs or CD's or the Clap, they got all all. the Economy beat is filled with CD! They are always seeing what they want to see to fit a pre determined view. We all have pre determined views but some have an ability to be right a lot. It's a gift. Then your mind is filtering out crap for a reason; a lot of lies are thrown at you. If you traded oil and listed to what the floor traders are jamming the cnbc chick with you are being led astray, but by listening and not filtering you are getting tricked. Listen to yourself folks don't be afraid to make predictions! WE NEED LEADERS. The market can not function with everyone playing piggy back.Who else would sell to early if it was not for the First Attackers! So if you have a lot of imputs, the filtering is a good thing. Make predictions but have solid reasons. I always get blasted on ET when I go with a hunch 90% of the time the rest of the board is right. Make sure what you feel is really based on something. If you can train yourself to be a contrarian investor which I was for years.. this is all quite easy you listen to everything, find the majority and then simply turn against it.No filtering at all , no CD no pre determined notion you offset everyone else's pre conceived notions and then you have turned the houses averages to your favor! And that type of trader is what I hope you all can be if you don't have the innate gift of First Strike.And Cycle theory is surely not a static argument I have always used various forms to great success at predicting market turns.~ stoney
 
Quote from jackstone54:

Hey Stoney, Wait until after the jobs report...its make or break time.
More...
That's not what you said in the begiining of this thread. You said almost 3 weeks ago that we were going to 1150 and any idiot could see it. You said you were the only guru so we should listen to you.

We are now 260 points from your 1150.

WE ARE ALL NOT WORTHY OF YOUR ADVICE
 
Oh, and just for the RECORD. YOU SAID THE NEXT WAVE DOWN STARTS NOW. You didn't say the next wave down starts on May 2nd's employment report.

I can see you are the type person that wants to take credit for anything. Why not just try and make money instead of being a blowhard that knows nothing about the market?

http://www.elitetrader.com/vb/showthread.php?s=&threadid=123582

and here is where you take credit for your bad trade
LMAO

http://www.elitetrader.com/vb/showthread.php?s=&threadid=125926
 
congoboy is better than you. You said you doubled your shorts. You must have gotten hit by margin calls on wtv u were trading.

that guy congoboy overlevereged and reported he made some 45% or somethign like that

Some people. god
 
You must log in or register to reply here.
Back
Top