On ASX open 55 minutes ago I bought BBOZ, BetaShares Australian Equities Strong Bear Hedge Fund, a managed investment fund, the units trade on the ASX much like ordinary stocks. I also dumped an equal value of other stocks. I've never seen mkt this bearish before.
No, not that one you idiot, I already said I was short so how can I miss the draw-down! This One: All systems GO! Daily Highs & then some!
I think 2 things are different here. That i know of this is the first time we've crashed off ath's . Also in raw pts down 1200 is eye popping . But its equal to 600 pts in 2008. So its much more emotional now but % wise its no different . But this is much more a shock effect as 6 trading days ago the mkt was at ath's and everyone felt Invincible . As i said must people should be trading the es and not the es in this kind of crazy volatility
Not trying to quote myself, and 2-1/2 months ago seems like a lifetime ago now... but its not. And again to Spooz's point... it didn't have to be Corona... its just a normal thing. Water always seeks its level. I have. And few before that. Not a pro like Spooz and a few others here tha don't post on this thread.... I've never been in a pit, or worked a desk.... just a cat that has loved this stuff since I could read a newspaper ("what's that(?)" asks the Gen Z'r's and the youngest of Millennial's here) and figured out it was the easiest form of gambling to gain an edge in, AND.... it was legal. We'll never know until we get an: "Alert Alert Alert.... ....the parabolic bull market is officially dead". -B1
I'm confused...Isn't this the bear market that "officially" started on like May 10th, 2019? 2018? I get lost on all the proclamations.
My bad... it wasn't Alert, Alert, Alert.... It was a: Major announcement Major announcement Major announcement And it was in fact a GREAT call on B1's part. His great bear market call that started in March of 2019 though .... not so good. That was the one you are referring to. https://elitetrader.com/et/threads/es-journal-2019-2020.328086/page-1230#post-4954334
This market reminds me of a poster named Candles ? He posted on ES board all profitable long trades and about the market paying him his money back in 2008. Kept chasing all the way to the 1550 top and then if I recall bought right near the top and was never heard from again as we fell to 666.
Well, trading the bear market is much harder than trading the bull market. First, you do not just want to buy and hold. You will most likely get slaughtered. The market can gyrate up and down over 50 handles at a clip. You need to be nimble and not be greedy. As they say, bulls make money, bears make money, but them fat pigs end up in the slaughterhouse.
I remember a few die-hard permabulls. They probably changed their handles. Nothing new. Still the same old. For instance, what's that dude called, the one who always tells people to sell their home and buy QQQ to the hilt, that it was going to the moon? Their heads will be handed down to them on a silver platter.