Can you show us the documentation to back up this statement???.....we'll all hold on while you pull it out of your ass
everything i say is like im offending someone i trade very short term, i can buy stocks... i just wont do it in the next days
There are plenty of Elliott Wave blogs out there on the net filled with "perma-bears" that have been absolutely CRUSHED. Check out "Kenny's Elliott Wave" blog and "Danerics Elliott Wave" blog for a check on the "perma-bear" sentiment. Some of the greatest CONTRARIAN indicators that I have ever seen. A friend of mine told me about them and it is truly amazing stuff! Prechter's last call was for traders to go short back on August 5th with the SPX a bit below 1000. These guys are totally trapped and now his in-house analyst is talking about heading to the 50% retracement of the entire down-move, which is 1121 SPX.
SPX now at 1300. Daneric and all of the other PERMA-BEAR blogging crowd have been WRONG for another 16 months. Kenny's blog got shut down and the idiots on "Trading to Win (Lose)" are starting to eat each other in order to survive, just like the Donner Party.
Give it time ( a couple of days ) and you'll see the Hussman fans post that guy's idiotic crap. <IMG SRC=http://chart.finance.yahoo.com/z?s=HSTRX&t=3m&q=l&l=on&z=l&c=%5EGSPC&p=s&a=v&p=s&lang=en-US®ion=US>
That's an honest post. You have one of the attributes needed to be a good trader: personal honesty. If you are trading short term, and the shorter, the more this is true, you must ignore your own and other's appraisal of how the economy is doing, or should be doing, and just accept the market as it is. (However do pay attention to the dollar, as the market can not for long ignore a strengthening or weakening dollar!) Be aware that profitable retail trading can be very difficult to learn, but relatively easy once you know how. Most of those "experts" don't know how to do it, and if their perspective is that of a long-time-horizon investor, their advice can be harmful if you are trying to trade on a shorter time scale. Note that the day-to-day market often does not reflect reality. Trading on the basis of what you think the market should do is a great way to go broke. Instead trade according to what it IS doing.
Obviously, gold price is a function of dollar strength. As long as the dollar stays weak or weakens further, gold price should stay high. On the other hand a weak dollar means a higher market. In the present situation, until the dollar begins a recovery, you should be a bull on both the market and gold. It makes absolutely no sense in the current environment to be bearish in the market and bullish on gold! (A little personal advice however, I would start getting rid of that gold at the first hint that interest rates are about to rise.)
Very true. Most "newbies" make the mistake that the stock market should have a high correlation with the current macro-economic backdrop. This couldn't be farther than the truth, especially during a low interest rate environment and a liquidity driven market. Trade what you SEE. Not what you "hope" to SEE.