that looks to be the case, yeah. not being sarcastic either. it will be amazing to me if they break the dollar below 80. i thought for sure the subprime thing was going to elicit some monetary prudence, but instead they just changed the accounting rules to let the banks hide the loss ... digging deeper and deeper by the time it materializes, it will be another president, another treasury secretary, another person's problem i guess that's nature
A lot of capital thought Fall 1998 was the end of the world and we're headed down 80% due to LTCM + Asian + Russia. What did we get? Fed juicing and a huge short covering rally. I think the Nasdaq more than doubled from Oct 1998 lows to 2000. Same thing now? Bearish analysis all over the place and "expert" analysis on how the economy will collapse any day. Might happen tomorrow... or ... might take another 2 years like it did from Fall 1998 to Spring 2000!!!! Game plan will change after we get a big sell off on big volume and then another follow-through sell off within 4-10 days. Until then... Free $$$ on the long side, enjoy!!!
i've just been out of step. been shorting mostly into a drawdown since may of last year. i made a windfall in gold last year and i guess it got to my head. every time i positioned aggressive short in er2, that's when the jamming would kick into high gear. jokingly i'd tell a friend that as soon i started buying, getting on the eq inflation tit, it will come down. eventually in mid february i threw in the towel, started holding a 1 lot long off a very reliable long system i'd just been watching for 2 years, instead of the normal 10 lot shorts and WHAM 2 weeks into it, we get the monster down day while i'm long for the first time in a long ass time. it jerked me back into very heavy shorting and we rise again i guess it was just either terrible trading on my part (thats for sure), or a market very desperate for a buyer to sell into. not sure really how to read the experience
I can't tell.... someone please let me know the date of this post here: http://www.elitetrader.com/vb/showthread.php?s=&postid=324719&highlight=risk#post324719 thanks $$$$$$$$$$$$$$$$$$$$$
Thats good, its amazing what a few weeks away from the market can do. Yes our fearless fed is pouring gasoline all over them their bears. I am concerned about the low volume on the up days in comparison to the down days, its sure got me scratching my head, and is making me quicken my exits.