Buckle up Guys its starting

Thanks for making the points. "Expecting the unexpected" is entrenched in my trading philosophy. So much so that I have to now tweak that into "expect what no one else expects". In other words, I don't follow the herd. This has worked well for me, as I was able to quit my job and become a full-time trader back in 2009. I knew that the new bull market was underway, and I didn't want to miss a minute of it.

However, I would venture to say that a market double without a 10% correction cannot happen. That didn't even happen during the dot-com bubble, or that crazy period of 7 years that the Dow went from 3000 to 11000. There were numerous 10% corrections.

I leave you with one of the many golden rules of investing: The market doesn't go straight up.

 

OF COURSE! It's been a 7+ year bull market!! You said 10% CORRECTION.

I'll note that there are some who believe, and justifiably so, that the new bull market actually began 10/4/11. The S&P went into bear territory that day. As far as I'm concerned, it counts. It's not as though it didn't happen. But since it didn't end up there at the close, media types disregard it. Still, even by that measure, this is a long bull market.

 

I feel for you. Was there myself in my early days of trading.

While you were digging deeply into the markets, I pounded the SQQQ. That's the triple leveraged Nasdaq bear ETF. When you're trading as long as I've been, you get tired of being bit, and eventually you start to notice patterns in the markets that replay themselves. It takes a strong stomach to go the other way, no matter if that way is "up when it's going down" or "down when it's going up". But after you start to realize returns on those plays, you start making them with more conviction.

 

The bulls just don't want to give in at the moment.

 

Actually, I believe I said 10% correction OR 20% Bull market. Anyhow, we get each other's point.

 

Hope you're not pounding SQQQ today. TQQQ is surging today, and I have almost fully recovered Friday's loss.

 

For those who are on the sidelines who want to go long but are afraid of a correction, why not sell puts until it happens? Might as well collect the premium and hope you're right.

Of course, not too right.

 

the move is imminent. Are you ready for the next down leg in equities?

 

I think we are heading south until next year.

ES might go as low as 1800.

 

Still long SQQQ. Can't see it ever going below my cost before I sell it (which will be in less than 1 month).