Did anyone see last nighs closing in asia. Shanghai should jump through 3000 tonight. Continue to buy, after nearly a 200 point gain in 2 days on the dow it still goes higher without any problem. Bernanke will only speak positive today about how great this economy is, market should close above 12800 without a problem. Just BUY.
If its that easy why would 'balls of steel' be required?? Averaging down and praying aint a strategy.......
I'm sorry it's hard to grasp for some, but I try not to understand this market too much nor am I trying to fight the tape, I just go with the underlying trend to make $$$, even if that means averaging down into a position. Not everyone is a scalper that trades tick by tick and aims for a quick 1 pt gain
Personally,I would be careful espousing the "risk free cash machine " outlook,attitude I see some believing here. This thing could turn on a dime out of nowhere and slap the yin yang out of people. Having seen many clients get burned BADLY during the crashes of 87 and 89-esp. those naked put writers,heavy on margin,etc...- I would temper my excess enthusiasm and practice some prudence here. what is the saying...pigs get slaughtered ??
I heard the same thing 4 years ago.... some reading for your enjoyment.. oh and please check the dates of the posts...... thanks! http://www.elitetrader.com/vb/showthread.php?s=&postid=266358#post266358 http://www.elitetrader.com/vb/showthread.php?s=&postid=269982#post269982 http://www.elitetrader.com/vb/showthread.php?s=&postid=271019#post271019