Totally agree. These percentages are funny. Look at it like this as well. The 55% drop in 2007 was 1200 points. I mean what the fuck is that? Nothing! In 2018, just the 24% drop was 1900 points. From this height, even a 10% drop will be pretty significant in terms of a dollar value. 10% of 9000 is 900 points, which is not that far away from the 1200 points drop in 2007.
by the way - I am never wrong, because I know how my boys operate. it's a completely different feeling when you get on the same page with the boys. I mean completely different. you know what I am talking about.... like if you back test and find profit factor 1.75 and you put it on live, there is always that doubt in the gut right? what if you are wrong, right? no.... with the way I do Situational Analysis (R), everything is CRYSTAL CLEAR.... I am never wrong.
I agree with you that we are probably going higher, as part of the melt-up/irrational exuberance phase, but I hope you are around to tell us when to sell. Are you by any chance personally guaranteeing this call through AIG? How will I be able to collect my insurance payout when necessary?
like my previous personal guarantees, backed by the full faith and street credit on ET... and I have never failed.... ask @Overnight, I have never failed him. yes I will be around to tell when to sell..... you can then cancel the mortgage with lots of free money in your pocket. free money!
well. We don't listen to news. News are unreliable, inaccurate, slow, misleading, skewed, opinionated and it contaminate our minds. Day traders focus on charts and we trade based on what the chart says, not what the news say. We read news more for entertainment purpose.
a day like this, I woke up with $$$$$, and after playing video games and tennis for the whole day, I check again another whole bunch of $$$$$.... omg. yes I will tell you when to sell.... actually my tea leaves indicators already flashing some warning, we'll see this thursday AAII and perhaps next week I will have a better idea. long term trend no difference though... AAPL still going to $1000. at the current condition, dips will be 5-10% ish no more, actually even 10% is unlikely... but we'll see... if you mortgage your house I will personally guarantee your house is safe.
You don't need to mortgage your house. Some residential area I know in the city went up in value almost a million dollar just in last couple months. Everyone I know is trying to buy real estate to preserve the money value. I guess it has to do with the stock market activities and Fed cutting interest rate and the liquidity injection of almost $3.5 trillions into repo market and the balance sheet. At this rate even the tech people living around here will be no longer afford to buy a house anymore in a year or two. Some of them make $500,000 a year. Even my relatives are forced to buy a house in NJ. They make $200,000 a year. I guess the people with no hard asset will suffer the most. If Fed continue like this, probably there will be a revolution coming soon.
This is true but the majority of the public are not in leveraged instruments so the points don't count, its all about %. If you are in SPY a 50% drop is a 50% drop in your account, no matter if SPY is at 150 or at 330.