True. One thing that as traders I think we all know and recognize is that capital presevation is the key to long term success. Not losing is more important than making money. The way risk is being sold for so little across the board from hedge funds taking on default risk for historically low premiums to option sellers to subprime lenders it has that basic philosophy turned on its head. Not to mention that the risk being taken is being taken for historically very small reward. Unless it is different this time people will again come to respect risk and not be quite so cavalier about it. Until that time comes though it will all be about chasing the returns. I know BuyLow has already posted this but it bears reposting, sometimes chasing the returns and ignoring risk is just not worth it (actually if you want to last as a trader it never is): http://www.hussmanfunds.com/wmc/wmc070212.htm
YAWN...... Is there any risk yet???lol wonder how much the market will be up again tomorrow ahead of the joyous 3 day weekend??? I LOVE ZERO RISK!!
The slightest blip down will send the girls scurrying under the beds again and we wont hear from them until they emerge claiming fictitious dip buys... yawn
i never thought it was so easy to make money in this market, ITS JUST TOOO EASYYYYYYYYYYYYYYYYY. To bad I sold my QLD yesterday, could have made an additional 50 cents. I thought after 2 days of incredible gains that the market would take a breather, who was I kidding...
It's all well to say "no risk buying dips" if that person actually understands trading. Don't forget a 100 point slide back in May 06 in the S&P, impossible to average down trading futures a pullback of that magnitude, unless you are trading SPYs on lower leverage.
Im waiting for $82 to get back in. Ill buy around 10k worth and sell above 85 for a quick swingtrade.