lol i like the way you think. <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/_nkZ3eHeXlc&hl=en&rel=0"></param><embed src="http://www.youtube.com/v/_nkZ3eHeXlc&hl=en&rel=0" type="application/x-shockwave-flash" width="425" height="344"></embed></object>
I just think this is a very hard way to make money. Yes, C might find a bottom, but is it going to go back to the old highs? Not in our lifetime. At best you're looking at a small bounce. Why take on all that risk for nothing?
Robbie, re-read the thread, I've suspended the recomendation before stock went down with stock markets. This entry was into strength. Please stop being an ass.
I am not suggesting it would go back to the highs, I did post projections earlier in the thread. I trade futures, I don't trade stocks, that is the reason I am not actually trading this rec. I am a countertrend trader by character & experience. I have no idea what you're talking about when you say "but is it going to go back to the old highs? Not in our lifetime. At best you're looking at a small bounce. Why take on all that risk for nothing?" What is "all that risk" that you refer to?
Financials have A LOT more issues to work out. There will be more writedowns, dividend cuts, layoffs, need to raise capital, .....etc. Now is not yet the bottom for banking stocks/financials.
I did not try to call THE bottom, I spotted conditions pointing to a potential bounce which exceeds risk.
S&P500 futures pointing to a breakout bounce out of the wedge <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1971895>
no you didn't. you called out a risky low percentage trend fighting trade. you tried to quantify it as low risk because you made up some lofty profit target which was never really attainable. i laid out the scenario correctly and you didn't want to hear any of it. if a trade moves against you that quickly then you clearly didn't grasp the risk, reward, and percentages correctly. you were happy to fight a massive downtrend and dismiss anything i said. keep up the elitetrader trend fighting trades!