I am about 20% short here. Will go 100% if we approach the yearly highs. Although I admit my timing is never exactly on the mark... I am patient and have a broader horizon that just a day or two. --MIKE
you can just change your name and give up this ridiculous attempt at beating everybody. It would require more courage to bow out of your name and stance and accept that you're wrong, than it would to continue to play out this trend fading. The markets harldy went south in feb and feb is historically the month to short. Isn't the most logical idea to go with the flow of the markets? You've nothing to prove to anybody but yourself. Everyone makes mistakes. If you're not honest with yourself.... I'm a newbie and I see illogic in your methods. With all you know about markets why don't you make life easier for yourself and be a trend follower, and in doing so get rich. Unless you enjoy this stress in which case have fun, and I retract this statement. If I knew as much about markets as you I would just try to be a brilliant trend follower.
The problem is that trend following often does not work but neither does fading. The trick is to figure which one is best right now.
I was anticipating this bounce and continue to slowly scale. Market is due for a pullback.. when we get it.. I will cash in. Right now the IWM is not really uptrending.. its more in a trading range. Therefore.. I short the pops and buy the drops. Just because we are in a long term bull market doesnt make much a difference for me. -MIKE
yeah i guess i think too much like position trader. i think of major market directions: bull market or bear. Then my question is, why day trade when one can more easily get rich through position trading. All that stress and what profits? I'm up eighty percent since july 2003. I was up as much as 200% in november. Does the average day trader make this easily achieved profit look miniscule?
yeah i guess i think too much like position trader. i think of major market directions: bull market or bear. Then my question is, why day trade when one can more easily get rich through position trading. All that stress and what profits? I'm up eighty percent since july 2003. I was up as much as 200% in november. Does the average day trader make this easily achieved profit look miniscule?
Why would anyone be trying to pick the top here? It doesn't make sense. INTEL and AMD get downgraded, and guess what? INTC is now up on the day. Hmmmmm..... Sounds like a pretty strong market to me!