Go for what you "think", you must be one of those billionaire dollar ET trader that trade TA. Goldman, Morgan should hire you and learn from you.
we discussing me or fed with TA ? its a bad habit trying to switch from discussing the subject to discussing your oponent
No such thing as double tops.... Its only up. Stocks are surging...melt up is taking place ...this is the best risk free market environment in our entire life. Why wait to buy apple at 75 when you can buy it at 135 Why wait to buy Microsoft at 27 when you can pay 78 for it Why wait yo buy Tesla at 38 when you can buy it at 383 Why wait to buy pcln at 22 when you can buy it for 2200 Why wait to buy chipolte at 137 when you can buy it for 1498 The list goes on and on....just keep buying at the highs because there is zero risk...new highs everyday for the indexes. Once the NASDAQ gets to its dot com highs the market will completely melt up...it will make 1999 look like it never took place.
My long term method is nothing but selling New Contract highs/buying new contract lows when price hits 20-25% zones of nine year durations. I been selling Indexes and Financials and hedging each time, been doing method past twenty plus years and never going to stop as I do very well doing what almost all of you say not to do. Sold Indexes in September and all hit my first targets and got stopped out of the rest at breakeven, trailing stops won't allow for the biggest of profits like Gold recently. It is funny, many can't trade with the trend either, what advise do you offer them?
Your story is inconsistent. Here you say you'd take a position in anticipation of a turn. Elsewhere you say you only take a position out side of turning points. So I don't know what you are trying to say. Maybe you are successful through luck, or maybe it is your hedging that is saving you. The current up trend in SP500 is intact. It is anyone's guess how far it will go. You can gamble on the possibility that the turn is any minute now and get lucky. But I still see no sign of turning yet, not even an inkling in the gut. Maybe your gut is more attuned, or maybe you are a better gambler than I. On the daily chart, SP500 looks to be at a turning point based on a random Bollinger band I have. But nothing says it won't continue to ride the upper end of the band for some time or even exceed it for a huge blow off. My gut say the pro's are after the shorters, and they are not done on the ramping up until most if not all of the shorters are out. To demonstrate your skills for all to see, why not state what your entry point is and where your stop is ? We can then all see how well you do. Also state the hedge you are using in simple terms - I don't want to go google if it's too exotic. Anyway, we don't have a double top, we have a higher high. The double top view is no longer valid.
How come downtrends in this market are always known after the fact and not during...what im saying is that in 2008-2009 no one knew the Dow was going to fall over 50%...I remember people saying to go long while the Dow was only off a few percent from its highs back before the financial collapse...and we all know what happened next....so this market melt up can end as quick as the markets bottomed in 2009