Discussion in 'Trading' started by michaelscott, May 24, 2007.
Let me be the first to say to "BUY THE DIP".
Buy the dips on what? hehe.
I can buy the dip***** a lobster maybe?
I bought the dip and im down on my buy today....
doesnt matter because the rest of my holdings are up.
Is this the dip many will regret not taking advantage of or does the market head even lower.
dip buying did NOT work today. It may work if you buy the index etfs at 3:59 and hope for a small push higher tomorrow morning.
Is that a technical term?
I tried but my broker wouldn't let me:
'DIPS' is not a valid ticker symbol.
"Buying the dip" means when it dips, and you are reasonably sure its at the pivot, then you buy it. Now the dip might take a few hours to form or a few days. "Buying the dip" does not mean buying it after the first 30 minutes the market opens when there is a gap down with no obvious pivot. Its quite obvious to me that anything over 151 on the SPY will not be the pivot point.
I would buy it when I see it pivot off the 20 day MA. I have confidence that we will not see a 20 day violation anytime soon and I say that with two fingers crossed behind my back.
Ahem. What was I saying? The SPY went to 150.74 before turning around right at the end of the day. You should have bought that dip....
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