Doesn't this seem a bit excessive?

given VIX is 15 it's absolutely monstrous. probably size of move correlated to volatility is the biggest in the market history

 

You are a pathological liar.

You've left enough of a trail of bullshit that you are beyond damage control.

I suggest you find a nice hole to crawl into and rot away.

 

i sincerely doubt that. let's see some numbers.

 

kids, be nice!

my grand-kids are reading this site.

 

Trading since the 1980's my ass. Like I said your arrogance and know it all bullshit stems from your LACK of experience:

Nine_Ender


Registered: May 2010
Posts: 589


05-16-10 01:05 PM

I'm fairly new to day trading and have a fairly low daily stop limit to deal with. I am good at identifying trends but have lost money mainly because I cut my winners far too easily.

So I came to the conclusion that I need to find good setups, better entry points, and let them run. Easier said then done, the best stepups are often more volatile stocks that can help stop me out if I'm wrong.

So on Friday I'm tracking BMO and it looks like a double top and the market futures are dropping. I take the plunge and sell 100 shares short. It bounces around a little, scares me on a slight uptick and I bail on a 1 cent gain. Almost immediately it drops 30 cents afterwards.

Anyone out there encounter similar issues and overcome them as a new day trader ? For example, in this situation, should I load up my exit position ( say 5 cents, or 10 cents ) ready to go ?

On the bigger picture, if you have a plan to short BMO or similar on market down days, what would you say are the best technical signals to indicate suitable entry points

(Now, you can feel free to piss off once and for all. Hint: Your story just went down in flames).

 

Dates must be messed up on this site: May 1989?

 

Buddy, I've been trading ( swing trading, investing, options trading ) since the 1980's. Day trading was something very recent. Your theory is full of shit. This is the problem with speculating with incomplete information buddy.

For example, Canadian investors might remember when Stronach ran for office and Magna dropped to $2. One of the first companies I tracked closely. Others might remember when Arequipa Resources got taken over. And my best trade was when BMO and RY announced a merger one day when I was heavily long BMO calls.

Hint : Your ideas just went down in flames. And tell me, what
the hell was a "permabull" doing shorting BMO ? Hmmm.
Now your whole story is a bloody mess.

 

You've already stepped in shit. Those beginner questions were a dead giveaway.

 

Very true. The market moves on people, not value.

My theory is that the news dragging on caused people to continue selling off for a longer period of time than they would have under other conditions. Of course, not everyone was selling, just the general public. The corporate accounts and smart money knew better.
Anyway, this over-extension of selling created a vacuum of sorts, kind of like pulling a sling-shot back a bit farther than usual. The overall result was a rush of buying what was no longer availabe (since the smart money snatched up all the shares on June 23 - see the volume spike on intraday indeces between 2 and 4pm Eastern) and the market shot up.
It happens, but it was not unpredictable. I was able to net 24% during that time, more than my entire month of June.

Happy 4th everyone. Have a great 3 day weekend.

 

I would have argued the market fell because of the end of QE2, which hasn't changed. I guess I was wrong.