all right even though i know most of you want me around for entertainment value alone............i will continue to grace elite with my presence-----and let you old farts know what the smart money is going to do next in the markets that i trade. btw...i sold my 2000 shares of yahoo at 27.52.......i watched it and its price is now trading with the market......and the markets are not done going down......so i figure i can buy yahoo (position trade) back in the 26`s range..... still have my puts from last week on the qqqq`s they interviewed some idiot on cnbc....and they asked him if the markets will be higher in 6 months......what a moron.....he said yes...............that is may......may is when you sell and go away.....but we will definately be lower from here in may......the dog days of summer................he must have still been long the market. frankly, there are a lot of people who seemed to be long this market at this point......b/c they keep going on cnbc and pushing/hyping the bull view......and at these price levels.....if anything you should be market neutral.....if you are getting paid a lot to manage money..........i guess the smart money doesn`t go on cnbc.......b/c they still don`t seem to get the fact that we are still going down from these levels......that this wasn`t a one day event.....i would have taken my profits on my puts today if that was the case----yeah I have always been real good with analizing market direction------heavy news week where news that could be interpreted as bad will be......this week-----which is why I will make more money on my puts----plus you get some "panic premium" in your puts this week
holygrail-----pm me.... as you can just give your money to me directly.....lets cut out the middleman................i addressed in another thread about buying dips that will be lower than the previous dip...etc....that`s the problem...if you wait for ta confirmation.....you miss 5% of the move.....ultimately the best traders have to be able to analize markets, pick tops & bottoms, and pick direction.......otherwise your just a market maker/scalper at best.....and at worse a losing trader.
When the market stops trending you move to swing trading pivots. It doesn't take long to figure it out,and it doesn't cost hardly anything as you can convert your pivot swing trades to position trades. When I get my signals that have worked for 15 years I will adjust accordingly, but right now I will still be looking for longs. Sorry to disappoint you, but I don't just buy dips. There are other factors that help determine whether the dip is truly a dip or a break in trend. Where there is volatility there is profit. I don't over-react to new highs in the market or corrections. I adapt my trading patterns to reflect the market.
The markets will rebound this week todays selloff wasn't a big deal at all http://finance.yahoo.com/q/bc?s=^IXIC&t=3m&l=off&z=m&q=c&c= As you can see there have been several selloff days and they have all rebounded
but right now I will still be looking for longs. That is where your analysis is flawed at this point in the market cycle. Just tell me ahead of time when your going to buy, as you shouldn`t be looking for any longs right here!
You obviously have very little successful trading experience. The trend is not over UNTIL IT IS PROVEN to be over. Please don't tell me I shouldn't be looking for longs right here. Everything depends on timeframe. Since you are not behind my trading screen, and you don't have what I have in my accounts, I don't believe you are qualified to tell me what to look for or not to look for. Now go to bed before mommy gets pissed at you.
gee when it is proven........you have missed the move......time frame......is that code for daytrades that turn into postion trades..........what you did 15 years ago has no bearing on tomorrow......if you are planning to make money by going long tomorrow, and I am planning on making money by going short tomorrow ( I already am short ) then if the market sells off tomorrow....why would you be looking for longs (unless you are under water--stuck-- on some trades). I am telling you the market will be in the red tomorrow. Ergo, you will make money if you are looking for shorts tomorrow---not longs. All I am saying is that if you are going to go long tomorrow, just send me your money.....and I will invest it wisely Nobody should be going long tomorrow---but that`s why made so much money on my puts on the QQQQ`s today.....so one way or another your giving me your money----by opportunity cost alone!