Weekly Poll: August Doldrums?

SPY Next Week?

  • Bullish

    Votes: 12 31.6%

  • Flat

    Votes: 11 28.9%

  • Bearish

    Votes: 12 31.6%

  • I prefer to keep my opinion to myself

    Votes: 3 7.9%
  • Total voters
    38
  • Poll closed .
Thank you guys for the kind support--- yes I did the stupid thing which is to over leverage on this trade. Leverage has to be right only once to hurt. EUR/USD flashed for me some quick gains (from 1.3215 to 1.3195 in few seconds, and I thought I nailed it). One minute later, it turned around , broke 1.3215, and headed to 1.3260. When I checked it, it was too late. At that point, hope became the new rule. I am sharing this so that you guys learn something from it, or to be reminded of it, without going through it. I already consider it a loss, even if it turns back, because it is a loss. I would even view it as a double loss, because I could have gone up with it, and then down. In case you do not trade forex, if stops are not wide they gun for them if they are within the trading range. In this case I should have allowed for the stop given the leverage.

Noddyboy: Thanks very much. Your 2001 date makes you a real veteran!

Shortie: I wish for you a speedy come back. A guy like you deserves to make it in the markets.
 
SPY +0.43% 112.9 before open

darn! bulls have it so easy: park you money overnight, get 0.5% in the morning, rinse and repeat.
 
Wiki:
In some countries, the number 13 is considered unlucky and building owners will sometimes purposefully omit a floor so numbered.[2] The fear of the number 13 is called Triskaidekaphobia.



113 seems unlucky for the Bulls...

SPY 112.78
 
Aug. 10 (Bloomberg) -- U.S. stocks pared losses, Treasuries jumped and the dollar trimmed gains after the Federal Reserve’s plan to stimulate the economy through the purchase of government debt overshadowed data indicating China’s growth is slowing.

...

“The Fed decision is really what the market wanted and expected,” said Don Wordell, a fund manager for Atlanta-based RidgeWorth Capital Management, which oversees about $62 billion. “They also said that we’re in a bit of a slowdown and that the road to recovery will be longer. None of this surprises me.”

>

so as long as Fed does what the market asks it to do we will keep going up, right?
 
Patience pays off. Not sure what market u are trading but the one i traded today provided ample opportunity to make up for a couple of the slower days this month
 
Quote from rodmike9:

Patience pays off. Not sure what market u are trading but the one i traded today provided ample opportunity to make up for a couple of the slower days this month
More...

it was a good trading day for me as well. i did botch a few trades but the opportunities were clearly there. i trade equities with options thrown in to manage risk.
 
You don't really have to thank me... ;)

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Original thread: http://www.elitetrader.com/vb/showthread.php?threadid=203151&perpage=6&pagenumber=2
 
Shortie: Less people are voting this week. What is going on? Beach? Summer?

PS: I call on you to vote immediately. Do you remember my calls from previous threads? Please vote now. Help shortie so he can help us.
 
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