What a great time to buy

Petsamo · Jan 30, 2010

Quote from makloda:

I'd personally look for new long positions only on new highs (1150+ in ES).

OK, now that's stupid. It goes in direct opposition to the buy low sell high philosophy.

heypa · Jan 30, 2010

He read the Darvas book.

tradeshark · Jan 30, 2010

Quote from hajimow:

I don't believe market will go to the roof but today is a great day to buy for swing traders. GS, AAPL, ADI, TXN, INTC,....

? GS just broke $150. as a swing trader I would rather see downward momentum fade and upward momentum increase before I would grab a falling knife. check your daily charts of obvious channel break, topping patterns, MA breaks, etc. I would wait and see - just my opinion.

makloda · Jan 30, 2010

Quote from Petsamo:

OK, now that's stupid. It goes in direct opposition to the buy low sell high philosophy.

Stupid to some, a gold mine to others

No.Heat · Jan 30, 2010

Quote from Petsamo:

OK, now that's stupid. It goes in direct opposition to the buy low sell high philosophy.

Too high or too low is only a psychological deficiency in your trading due to perception.

No Heat

hajimow · Jan 30, 2010

Quote from tradeshark:

? GS just broke $150. as a swing trader I would rather see downward momentum fade and upward momentum increase before I would grab a falling knife. check your daily charts of obvious channel break, topping patterns, MA breaks, etc. I would wait and see - just my opinion.

I did risk recersal on GS. I sold PUT 150 and bought 165 Call with $5 credit so I am fine till $145. If you just wait enough, you might get a better entry or lose the opportunity. Almost 100% of the time I trade options on the stocks that I mentioned. I believe Risk reversal is the most rewarding strategy now.

buy fruit · Jan 30, 2010

Quote from hajimow:

I don't believe market will go to the roof but today is a great day to buy for swing traders. GS, AAPL, ADI, TXN, INTC,....

I do not know how you arrive at, but it seems to me you are wrong.

hajimow · Jan 31, 2010

Quote from buy fruit:

I do not know how you arrive at, but it seems to me you are wrong.

I did not say "day trading" . I said "swing trading". Give me a week. If I am wrong, I will admit that.

dandxg · Jan 31, 2010

Quote from OTCkrak:

good luck with that.. double dip recession is a reality.. look back in history and it happens all the time.

I am hoping for that from an investing standpoint. I missed the boat last year. I have 20 years before retirement. When this V becomes a W I will load up on IRA high risk. Everything is cyclical

Kendall · Jan 31, 2010

Dude you look at the volumes? Market took back 4 months gain in 1.5 weeks on tons of volume. You may get bounce, but new highs?

You're obviously tech sector watcher. You do realize QCOM is second highest weighting in QQQQ's and it is below all the swings. So that is already diverging from qqqq's indicating more downside. To be exact about 20% worth to $33 from $39.

Bull and Bear fight is on...