here's some homework for all you bulls: print out a quarterly S&P 500 chart and a monthly Nasdaq composite chart, then compare them side by side. if that's not a wake up call i don't know what is
Lundy, There's still time to revive your Journal by posting your trading calls there. I enjoyed reading about your unique trading style and perspective. I for one give credit to anyone willing to post their realtime calls on a public board and even more credit to those who post profitable trades on a public board as you have done on previous occasions.
Interesting article about the comparison of the 1929 bubble and bear vs our current market. Thanks for posting it gerry875.
I'm going to revive the journal but it's going to be alot more exciting. I'm opening an IB account and going to take that double your money every month challenge that was posted on a website i saw. I'll keep the account updated live via a screen cam, and post commentary on my journal. Should be interesting.
Earlier, I clarified the difference between favoring a rally to short the market, and favoring a rally that would reverse the current bear trend ... and I clearly stated that my understanding of everyone who has posted on this thread, was that they were all favoring a intra-week rally, after which the market would resume downward ... and right now, I say .... congratulations to all those who went long the market on Friday, believing in a recovery .. you guys are currently up no less than 4%, if u had bought earlier on Friday ... so as far as trading is concerned, we're all here to make money ... and of course, we can keep discussing the upcoming major move, and call for the next peak or bottom ... and give each other trading lessons if you want ... but that doesn't deny the fact, that as far as day-traders are concerned ... the ones who are currently long this market ... are in control, and have the upper hand .... Other than that, guys be careful, 'coz the composite has retraced back to a previously broken support at 1,550 and is still unable to break what has now become a very tough resistance zone ... in my personal opinion, if this market intends to resume lower, it needs to do it from here ... otherwise, we could be up for a little more .....
"in my personal opinion, if this market intends to resume lower, it needs to do it from here ..... otherwise, we could be up for a little more ....." ********************************** I love these kind of predictions. You hear it from the "gurus" and I've said similar things myself. Basically what we're saying is the market might go lower but if we're wrong it might go higher. Or visa versa. This is the kind of statement that we make to hedge our guess. Me, you, us, the gurus, and the anchors on CNBC have no idea what the market is going to do. But we can't accept that, can we? **************************************** The oldest and strongest emotion of mankind is fear, and the oldest and strongest kind of fear is fear of the unknown. H. P. Lovecraft
As far as technical analysis is concerned, this a breakaway gap on the composite ... and could have very bullish implications on this week's performance ...
futurecurrents You made me laugh hysterically .... actually I posted my previous message at the same time you posted yours ... so maybe it'll make you change your mind ... a bit ? and my next one, will impress u you even more ... just give me a few minutes ...
the difference is that some people just say it, and other people put in orders, and the hedge part is by using a stop. I'm short from 1154 to 1157, if it breaks last weeks highs on NDX i'll stop out, otherwise i'm looking for sub 1000 on this here short.