"I agree riskfree, you don't have to be a bull or a bear, just be a trader." As the attached 3 month Dow chart shows, we are in a trade range (open attached chart). Short the top of the range and then after 3 daily candle lower highs, start looking for a reversal setup to cover and go long.
Hey Bulls: what did I tell you earlier this week? You did not believe what I wrote, and even came out and threw sharp attacks and in some cases insults. All I wanted is to make a point. Time shows who is right and who is wrong. When you will be ready to stop buying or to go short, the next day the market will go up! Readers: re-read this thread multiple times. The market goes against the majority and with the minority. It happened on this thread. It also happened when I called the bottom few weeks ago (check my history)--On the day we had the bottom (still standing on IWM), and everyone was calling names. It hard for people to change views, and to buy bottoms and sell tops even if you tell them. Of course I do not claim to have the proof to be right all the time, but check my record and judge for yourself (using actual numbers not opinions and feelings).
A perfect example of a bagholder. Instead of using facts he uses feelings/jeolousy/etc. Thanks there is a market where only facts matter. That is why I love the market. I do not have to argue with people like you to give me their money. I am sorry to be rude, but I had to because of your personal attack. Trading is the only business in the world where you do not have to listen to a group of empty headed people pushing their view just because they talk about, play politic, etc. In trading you need none of that bullshit. And I love it. No need to look good, speak good, make impression, do team work, and all that bullshit. The only other situation that comes close to you is when a guy sits in a math exam. The answer is A, and he give B, and nothing can save him to prove that he was not wrong. Wrong is wrong, and right is right in Markets and in Math. The M sisters humuliate those who do not use facts, and who play games and politics to win something that is not theirs.
I've never seen so many people get so damn excited when the market goes in their projected direction. If it drops below January lows then beat your chest. We've been in a trading range.
riskfree, you nailed it several times (every single time?) over the last few weeks. maybe you just got lucky, but your calls were amazingly spot on. U DA MAN!
Thanks shortie. Glad to know that there are readers following what I wrote, and cross checking with the facts. I cannot prove the reliability of what I do, but it is the result of developing my own methods, and reading more than 700 books on trading (I read everything worth reading that can be found in a library (mine, the public library, the bookstores, journal, published papers, etc), in addition to losing a lot of money the first year I started (after making some money at the start). I still remember the losing part to this day, and why I got to it.