1 bad headline will send this the other way. The market hasn't went anywhere since February. down, up, down, up, down, up. THe market sold off straight into July 4th last year nonstop. After July 4th it rallied for 2 weeks. It's a headline driven market. 3 good headlines and we go up. The question is what does this do on the next bad headline. If it breaks out, then we know the answer on where it wants to go...
You cannot trade successfully in my view and not have humility. You can be 150% confident in yourself but you must remain humble. This is what I have learned. [/B][/QUOTE] Oh man-truer words were never spoken.
Yes, in fact long before Nine-ender ever found the markets, there was a damn near carbon copy of a rally like this in the summer of 2002. More to do with the end of the quarter than it does the holiday weekend. But I do suppose it could be argued that volume is lighter and hence more prone to sharp moves.
Let me be clear, I've traded since the late 1980s off and on, and I don't have any requirement to defend myself. My guess is most intelligent and experienced traders have moved on from here, and perhaps I should be criticized for sticking with it for a year. Every time I've given up on this site I get suckered in by the idea its a "trading site" and there might be some decent ideas on here. But there isn't, you'll see soon enough. If you look back before the winter rally, you can note the trading ideas I put forward and how they were received on this site. You can also note the stupid post from "denner" in my week long absence, claiming any chart I ever saw looked bullish to me. Such a childish guy this "denner" is, but in the end its just too stupid a concept to care now isn't it ? If the guy's a dumb fuck ( clearly he is ), let him revel in his stupidity. I'm too old to care what people think about my opinion. I honestly think "denner" is an extremely stupid person. Maybe he drank too much in his younger days, or was in an unfortunate car accident; maybe he just wasn't highly educated. Really can't tell, but what a complete waste of time it is discussing trading with him !!! This being the internet, "denner" fulfills his role and good luck getting anything of value from him.
No, I popped right out of the ground last night. Seriously, isn't it possible to be civil and just answer the question?
The S&P was 1340 1 month ago, and 1295 a week and a half ago. It's now 1340 again. What's so phenomenal about that? In 2008, the S&P sometimes moved >10% in an hour or two. 5% in a week is nothing. Think about it - what was the main reason the market fell 9% in 6 weeks recently? Greece default worries. What happened to those worries? They are vastly diminished. Ergo, market is probably worth what it was before those worries surfaced.
5% is certainly not nothing but given the oversold market last week it is very comparable with other moves from such oversold levels. one should not compare this with 2008 when VIX was 80.
Nah, you simply hate the fact that I've called you out for your over the top bullshit. I'm not alone either. Everyone you've come across on this forum thinks that you're a complete turd. I guess at your age you have to hope and pray that you're perma-bullishness makes up for all of your losses in 2008. That gigantic chip on your shoulder tells me everything I need to know about what a gigantic loser you are. Over the top defensiveness and outright hostility towards anybody who isn't a raging bull tells me how much you constantly need to "sell" your bias to anyone on here. Now back to your miserable, lonely existence a-hole.
Look, dumb ass, I've posted both bullish and bearish calls on this site. The fact that I was bullish the entire fall was the CORRECT call. I've never been a raging bull at any time, but perhaps on a site absolutely dominated by idiots predicting corrections every week, its hard not to appear to be bullish all the time. Fact is, most strong market analysts thinks almost the whole load of you EliteTraders are idiots. That's not a guess its fact. You want to see over the top defensiveness and hostility, I could quote it from a bunch of you. I remember the 1000 or 1200 thread for example, where literally 90% of the posts were angry people insisting the market MUST ( not might ) go down. Couple that with the Economics forum where its a nonstop parade of rants about how the world is ending. Honestly, I'm quite happy to counter the crazy gang here. But when I encounter complete buffoons like you, its just not worth it. YOU'RE A COMPLETE AND UTTER WASTE OF TIME. I've only replied to counter your lies you've posted about me for others to see. The more you post, the more I realize you probably got busted by the bull market. I had zero money in markets in 2008. The crash in 2009 was an obvious opportunity to re-enter the market, probably the best opportunity in our lifetime. If you missed it, well stop bitching about those who can read markets and get in with the next opportunity.