Even if you did make any money you gave back plenty in costs and headaches with all the premature ejaculations and playing bearmarket rallies. Bottomline: you're treating the market as if its in a famine. The river is flowing down. Go with the flow until there is evidence of reversal. That's the best we can do. Keep adding to the down at the many oportunities the river gave already. SHORT since Nov 2007. Then go to the beach or lick pussy. Review the chart once per day for just 5 minutes tops. Stay Short. Added to Short ... May'08, Jan'09, May'09, if/when Price comes up to or close to the black line shown in chart, and cannot supass it on a closing basis, get ready to ADD TO SHORT on the slightest hint of weakness such as the current bearrally uptrendline being broken. It takes alot to change an extant trend, the first law of trends being, "the trend tends to continue" No but you would prefer to be stuck at the computer 12 hours per day, slogging it out with multiple ejaculations, mostly running up losses as has been proven. Dig?
read my last post, pt ... but here's something else for you (1) can't you see that even the larger moving averages have crossed to the downside in May and June 2010? You're pennywise and Pound foolish. Sure its nice to make pennies but why bother when you can make pounds? Dig? (2) Look back over the history of the drop from late 2007 and see CLEARLY that not once did the TREND even falter or give the trader any reason to go into doubt. It is one of the near-perfect downtrends. Why try to second guess it? (3) Even if you made some money in a bearrally, think about how much MOOOOORE you would make if you just did the very same thing you're doing right now which is trading on 3-5 min. frame - IN THE PRIMARY DIRECTION of the river. The pleasant surprises are always to be found in the direction of TREND. (4) If the bottom of the bear was July 1, 2010, then you are indeed fortunate that you are LONG. But that is just luck as there is no way of knowing for sure that the downtrend has ended. Hence the black line shown in my chart. That would be a very definite message from TREND that something is amiss, were it taken out decisively. Then and only then would you go into doubt. Aand that is when your balls get severely tested, for even then it could be a fakeout - causing you to close out the beautiful short and go Long. And then, whack, she continues south with real power leaving you mentally messed up. But thus far its been a piece of cake to just stay Short!!!!! have a good one, sir.
you techies sure are passionate, for some reason I can't bring myself to drink the kool aid. I hear what you all are saying, but I take a different perspective. The stock is up about 40% from it's bottom, which to me is significant. also, I do fairly well, my accounts are up 17% ad 6% and 6% this year to date, so I guess I do something else besides "multiple ejaculations" and beig pound foolish.
The dollar has been sliding since June (actually since the fed move in 2008, but in a very broad channel, but down nevertheless.) It is coming into resistance as I write this. All eyes on the dollar. Will resistance hold. most probably not, but there surely will be a bounce or two first and retests, before breaking down for real. Commodity prices have been lagging (there's a recession on in case you did not know.) But continued downdraft on the dollar can only lead commodities priced in dollars in one direction. And now, finally, in spite of the recession, commodities are beginning to respond a bit. Jimmy and George both know which direction the dollar and commodity prices are headed, and so do I. Great patience is required, but your patience will eventually be rewarded with tree ripened fruit .
--------------------------------------------- don't worry ptrjon, this is just a follow-up as DRYS is a stunning example of TREND ... Close Long go Short @ $99 in November 2007 = position now held for almost 3 years continuous. = cock entered once and ain't even come yet! You = cock tired and worn out from over 1000 p.ejacs. And what's more, overall net loss guaranteed - odds favor this to an extent of 98% because you are from ET Nothing personal, ptrjon. I'd be very happy to see you make that 17% you mentioned.
DRYS ongoing Short as per TREND surfing\riding ......... Let's get to today and assume that the downtrend fails very soon when Price climbs above the trendline shown and the 200 m.a. (green) very convincingly and also takes out my black horizontal line shown in prev. chart. If I closed out the short then, it would be at say $7.00. Profit would be a whopping $92 and in real terms huge due to the mod high leverage used. short position held continuously with many additions to short .. (1) high leverage short entry 9-4-08 after 200 m.a. rejects Price (2) high leverage short entry 11-2-09 after 200 m.a. rejects Price (3) high leverage short entry 5-6-2010 after 200 m.a. rejects Price and wave low breaks down (4) Next high leverage short entry will be at approx. $3.82 when/if rejection of Price is confirmed (5) If downtrend failure occurs cashout will occur at approx. $7.00 - no fixed stop level just an area of concern - actually being in it will then determine the actual exit.
weekly shows the nice continuous downtrend oh so mellifluously Uploaded with ImageShack.us but daily is where the application is: take out that trendline, the 200 m.a. (green) and then finally start crossing 7 bucks and yeah I'll close out the Short after deliberation and then if warranted, reverse instantly and go Long. Uploaded with ImageShack.us
DRYS doesnt loook like a downtrend at all It looks like a basing pattern after bottoming I guess all the permabears in this thread see what they want to see, and wil get crushed when S&P 1300 hits Bye bye!