Look I bought in late 99', sold in 03, bought in 07, sold iMarch 09, and now I'm lookin' to get long again in April---you with me.
Guys, pay attention to German DAX. It's close to previous highs. A double top is possible. If they dump, we dump. http://www.marketwatch.com/investin.../intchart.asp&time=7&freq=1&comp=Enter Symbol(s)%3A&compidx=aaaaa~0&compind=aaaaa~0&uf=0&ma=0&maval=50&lf=1&lf2=4&lf3=0&type=4&size=2&optstyle=1013
One of the last great traders! Care to provide us with your system parameters so we can verify your sell ....er buy signal?
I remember after 9-11 there was a company which made a fair amount of money selling parachutes to people that worked in skyscrapers with the thought they could bail with this seat cushion and live. The parachute when eventually tested didn't even work but they made plenty of money. That's how I look at this rally. Yeah jump in and make money but it's not for real it's a simulated rally courtesy of the FED. I'll wait for the next trend to emerge and in the meantime watch internet porn with my neighbor's wife while her husband is at the office watching his long positions.
â¦he really meant to tell them that the big money was not in the individual fluctuations but in the main movements that is, not in reading the tape but in sizing up the entire market and its trend. And right here let me say one thing: After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine that is, they made no real money out of it. Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance. The reason is that a man may see straight and clearly and yet become impatient or doubtful when the market takes its time about doing as he figured it must do. That is why so many men in Wall Street, who are not at all in the sucker class, not even in the third grade, nevertheless lose money. The market does not beat them. They beat themselves, because though they have brains they cannot sit tight. (Chapter V pg 54-55) Reminiscences of a Stock Operator
another up day. can't wait for Friday, let the market stay above my strikes and call me out on my longs. then the longs will get bitchslapped, sooner or later. watch the 200 period weekly moving average on the SPX, now around 1,224. if this "rigged" market keeps going up, that's where it's headed...
Ivanovich, if it is "of course" going up, did you buy it? Did you took all your money, every bit of it and bought the market? No? Well, that is because it MAY go up, or it MAY go down. If you knew "of course" that the market was going in one direction, you would become rich beyond belief
Sucker trades occur in all timeframes. 1 sec, minute, hour, day, week, month, year, and decade. Today somebody bought at 1169.50. Yeah probably a short squeezed to puke but the point is had you taken his trade the reward was 4 pts in the opposite direction. So Maynard after 120 pts up who's the sucker? The news is telling it all. It's all buy, buy, buy.