No one has a clue how quick this could end, it can end in a second, I remember in 2007 when all the hype was in place and the markets dipped and people went in to buy, it dipped again and people went into buy, it dipped again and people went into buy.... it kept dipping, so you only know after the fact that it was a good time to short, until then no one has a clue where this market is heading! The dow could easily close at 14,293 next Friday and you wouldn't have a clue how to trade it would happen so quick!
Insofar as price action is concerned, sure. But you guys can't be so short sighted as to think that this magnitude of bubble blowing is a good thing for the long run health of life as we know it in this country.
Trend is your friend. once you see the opposite, you start dumping long positions. The problem is people get greedy and fail to manage accordingly. So they leverage up more as prices drop, then they get greedy when they revenge trade and refuse to sell because they failed to make maximum profit. Then when the positions go from profit to loss, they double down more hoping they can make it out. This is what kills most people.
OTOH, no one "knows" (except maybe the squid) how long this bull will last. What I do know is this market has been great for intraday trading. The same will be true for me when the "bull" ends. From a trading pov, I don't care when. What matters to me is that my trading accounts and the markets I trade remain accessible and unencumbered. Trade On!
this is stupid some rules suggest to sell when 7% correction. would you sell then? or when it crosses moving average I bet no because everyone will expect the Fed to double their purchases there is no exit strategy for the Fed and there is no strategy for retail to exit here. There are no rules in this market and I bet there is a big chance it will end like 1987 -25% in one day and you will lose your money not even having a chance to think anyway today I sold all long term holdings I don't care how far this bubble will go From now I will only daytrade
I have been reading a lot of articles and I have noticed everyone is saying the market is going to continue to grind higher, if you go back to when the markets were falling, the same thing was said but on the downside which leaves to believe a top is in the making, of course it could take another 3 years!
There are no rules in this market, the fed has created a market with zero rules, there cant be a correction according to the experts because they wont "make it happen" thats why this market is not a healthy market, this is a rally based off cheap money and I have no clue why no one wants to admit this, only a few people have mentioned this, everyone else seems to be unaware of the fact that cheap worthless paper is propping everything up! One day its going to end and at that point thats when everything will finally come together, BUBBLE ben bernanke will be back on capitol hill answering thousands of questions why he did what he did to prop up the economy and of course there will be new rules put into place for that to never happen again! There is no exit strategy and why isnt there an exit strategy, thats what I want to know, trillions upon trillions of dollar being poured into this worthless economy and there is not one exit strategy to be mentioned, not even a hint! What does that tell you, it tells you they dont give a fuck, but dont worry when the collapse comes people will want answers and only after the fact will they realize what is happening today was not the way to fix the crisis.
s2007s, nobody takes you seriously anymore. Every point up you cry we are just that much closer to a top. One of these days the market will go down, and you can claim that finally you were right. I don't know who you think you are fooling. Some of us have been at this a long time. I will agree with you, every point higher we are just getting closer to a top. It has been that way since the beginning of time.