Xmas Rally Has Finished.

[Lucrum]

Quote from Sharp2be:

... all theories have now falied (Dow is a joke), EW another joke, Lunar, Mesa, bla bla bla, just focus on what's happening TODAY and make your money.

+ 1

 

[bwolinsky]

Quote from Sharp2be:

Just like the other felow who started this stupid thread you are trying to predict the market, nobody can, look at the hedge funds results for this year, they have a lot of smart people and none of them hang out at ET ( I can guarantee you ).

Also look at other replies on this thread, one felow is down 250 bucks and worried about being down 1,000 - is it really worth even having a market direction discussion to make or lose 1,000 - seriously! You will likely be better of getting an extra job for 20 bucks/hour.

Anyway, its about time that people stop predicting direction, all teories have now failed (Dow is a joke), EW another joke, Lunar, Mesa, bla bla bla, just focus on what's happening TODAY and make your money.

All theories? No. Not all, because this hasn't had and won't ever have losing years.

Also, my trend following systems don't have any losing months in the backtests, so you are mistaken.

 

[SimpleTrades]

Quote from Sharp2be:

Just like the other felow who started this stupid thread you are trying to predict the market, nobody can, look at the hedge funds results for this year, they have a lot of smart people and none of them hang out at ET ( I can guarantee you ).

Also look at other replies on this thread, one felow is down 250 bucks and worried about being down 1,000 - is it really worth even having a market direction discussion to make or lose 1,000 - seriously! You will likely be better of getting an extra job for 20 bucks/hour.

Anyway, its about time that people stop predicting direction, all teories have now failed (Dow is a joke), EW another joke, Lunar, Mesa, bla bla bla, just focus on what's happening TODAY and make your money.

Blah blah blah! So you have a big account and I have a little account. So what. We are all starting from somewhere and attemptingto find success in the markets. Sure I could get a $20/hr job, and maybe sell mutual funds for a living. What a bore!

 

[bigarrow]

Looks like we're in the upper side of a trading range with the shorter term moving higher, staying long until proven wrong on my swing trade.

 

[bwolinsky]

Quote from bigarrow:

Looks like we're in the upper side of a trading range with the shorter term moving higher, staying long until proven wrong on my swing trade.

Or you can recognize this as a lower high made by short covering before a possible surprising report, but though this is a higher low, it will soon be a breach lower low, and while there is at least one more rally in for the q's, that is the only rally and it won't go higher than the most recent high, so when you see it stop moving up, you'll need to get out, if you aren't ready and willing already to realize you're wrong, because I'm certain by the price action the next oscillation beyond its lower high is a higher low, followed by the rally you expect but I have news that you will be sorely disappointed by how low that high will actually be, and the second you see it move down that'll be your exit signal.

 

[bigarrow]

Quote from bwolinsky:

Or you can recognize this as a lower high made by short covering before a possible surprising report, but though this is a higher low, it will soon be a breach lower low, and while there is at least one more rally in for the q's, that is the only rally and it won't go higher than the most recent high, so when you see it stop moving up, you'll need to get out, if you aren't ready and willing already to realize you're wrong, because I'm certain by the price action the next oscillation beyond its lower high is a higher low, followed by the rally you expect but I have news that you will be sorely disappointed by how low that high will actually be, and the second you see it move down that'll be your exit signal.

I saw that too and considered banking profits Friday and maybe should have, if it continues higher there are always other chances to get in again. The first of the week should let us know if it'll continue higher of test the lows again. Guess I'll find out soon enough which way it'll go.

 

[SimpleTrades]

Quote from bwolinsky:

Or you can recognize this as a lower high made by short covering before a possible surprising report, but though this is a higher low, it will soon be a breach lower low, and while there is at least one more rally in for the q's, that is the only rally and it won't go higher than the most recent high, so when you see it stop moving up, you'll need to get out, if you aren't ready and willing already to realize you're wrong, because I'm certain by the price action the next oscillation beyond its lower high is a higher low, followed by the rally you expect but I have news that you will be sorely disappointed by how low that high will actually be, and the second you see it move down that'll be your exit signal.

Of course if a new massive QE is announced, all bets are off.

 

[FreakofNature]

Quote from Sharp2be:



Anyway, its about time that people stop predicting direction, all teories have now failed (Dow is a joke), EW another joke, Lunar, Mesa, bla bla bla, just focus on what's happening TODAY and make your money.

Hard when the bulk moves are happening afterhours

 

[Wide Tailz]

Quote from bwolinsky:

More like a nice place to find the next pump and dump, and when stocks did nothing but go up people didn't have as much animosity towards each other.

Now the market's going one way, down. We're at overbought in my pairs system and at another lower high and in a bear trend for my trend follow systems. Both say overvalued right now, and if you aren't taking profits here, never mind being aggressive enough to go short, then you're a fool. A pig. And, oink, oink, I bet the market will rally another 1,000 points next week so be careful if you're short. Yeah, right!

I'm short NQ and long SQQQ.

In addition, the market checked the underside of a curve fit of all the peaks since the high.......

Dow theory still says down. The last high was the final validation.

 

[bwolinsky]

Quote from bhardy307:

Of course if a new massive QE is announced, all bets are off.

This may be a temporary band-aid like the last one, but the chances it is announced this week or even during my trade are slim to none, because not only would that be viewed as a temporary fix, but it would also cascade into a nearly immediate currency crisis with the collapse of the dollar following shortly thereafter.