Hi d. I was just a second ago thinking at when you would be posting.... ....I might have some kind of premonition....
Yeah, had a long day at work. Just got some time. What is your opinion about this market? Seems like you're still bullish. I'm kinda doubting myself too because the market has been able to handle all the bad news but I have to follow the plan. A 1% true buying day will make me exit out of my position, although I would not go long at that point. For some reason I feel more comfortable shorting than being long and I don't think I'm a pessimist by nature.
Still short here. At around 1.30-2 pm I wanted to exit out of my short position because the market started rallying even when there was bad news in the morning. If it had not sold off in the last hour I would have exited but since it sold off towards the end I stayed with the position. Nothing to do than sit tight and watch the show.
Still short here. I have a thousand reasons to be bearish: ie. high inflation, high energy costs, huge deficits and high valuation but I have another reason to be bullish here: ie the market is digesting everything well and still not going down. I guess that's what makes trading difficult and rewarding. I'm still short because even the market is holding the declining issues are more than the advancing issues. Like I said before nothing to do but sit tight and watch the show.
Got stopped out of the position at 1232.25. Pretty wild day. The market started down in the morning but it managed to rally and rally big. This is an extreme momentum day. I actually went long at 1232.5 towards the end of the day. We had so many bad news but the market has digested it all really well and not gone down. The best thing to do for a market is to stay put when there are many factors that would point the market to go down. I still am bearish long-term but it is sold-out right now and the past few day's action makes me beleive that we are headed higher, much higher in the short -term atleast. This could possibly last for a month or more. Well I have a plan and I will trade what I see and not what I think.
Got stopped out of the position at 1227.75. I had moved the stop up in the morning. Will short tomorrow morning. Hoping for the mid night rally to sell into.
Entered short at 1217.00. The manufacturing numbers came goood yesterday but the market still managed to sell. I think the market might test 1050 area.
What a beautiful day!!! I had known that this day/ week was coming but somehow I managed to screw up but still made a little profit. Not too bad for screwing up. I think that it'll be a long cold winter. THE BULL IS DEAD. This is going to be the end of my journal. I will still answer any questions that you have. Good Luck and attached is a piece of gem. It is something more powerful than any indicator or any guru.
Wow, what a day. Today was a classic V-bottom reversal, extreme upside movement, 1%- buy and everything else. This market is sold out. Covered all my shorts during the day and I'm long here after hours at 1200. Intel came up with not so good news and the market still rallied. I think we are headed upwards for now.