yes, the speed is what kills...when you're short and suddenly prices just trickle higher, form a ledge, trickle higher, etc...I just get out if/when I'm short because it's like water torture.
Yeah im always trying to think of how i would be reacting in those situations, and i KNOW 100% when i see the market going sideways and getting away from my exit im creeping up my bid, and creeping up my bid, and thats the reason the market is going sideways then up. not cause of my bid, (Im not that vain) but because lots of people thinking the same thing.
what i lioke to call the "moment of truth" if market holds 1977 on this pull, we are headed much much higher, breakdown and im out, if we dont even test 1980, im wildly bullish.
so so tempting to sell it here as a double top, this is where i constantly piss away money with accurate calls.
not buying more here, worried if i do i will get shaken out on a pullback cause of higher average cost, but im pretty confident now that we will test 2000 by close, or in the overnight.
this is all starting to remind me of 2007. By mid year we had this swoon downward hard and rumors of sub prime coming apart at the seams. Then after about a week or 10 days of downward moves it came roaring back...higher than the peak when it first dropped..these bullish moves since 9/29 look like that roaring back behavior in 2007..the more people tried to time the top, the higher it went
yes, it's why I completely screwed up my trades in August...I had the feeling we'd make one more push for the highs before it went down, instead we had that very weak August OpEx and then 8/24...