For the first time since Oct oberof 87. He said he had a hot market tip for her. She is buying every dip.
I was a young enginerd back in the fall of 1987 and received my first cold call from a broker. Bought a couple of stocks he recommended that were positively dreadful to begin with. Not that I knew any better. Then the market crashed and I lost thousands. Yikes. Besides the obvious drawbacks of being crabby and cynical, I find that being older has protected me being swindled.
I'm not a bull or a bear. Just call it how I see it. You were probably buying all the way down on Feb 27th. I guess that makes you a market genius huh? Keep up your obviously sustainable strategy. Good luck. I hope the market never goes down again... that would make my life a lot easier too so in a way we hoping for the same thing.
Count me as another bear then, I am selling ES on the close today to play what I expect to be asian weakness on Sunday night due to some changes in China. I also have a hunch we may see some further controls talked about this weekend in China to cool the market. Maybe even have a policy change like cap gains tax. (they love doing this on Sundays).
All these lame traders that cheer the bull market on instead of actually making any money out of it like to think everyone is a bear.. it makes them seem so clever if not wealthy.. they don't seem to be able to grasp the concept of taking longs and shorts dependent on market conditions.. so everyone must be a permabear
But why fight the trend which has been persistent for the past few months? Woudn't the easiest way to make money would be to just go long and sit back and watch the $$ flow in?
Dude its rigged to the upside not the downside, make the easy money, just buy dips. All news is received as great, thats the psychology right now, just go with the flow, and thank me later.
Your right, the buy side has played out nicely for a long time. But the cracks in the dam ar getting bigger, and the current risk/reward is turning around to the point that is is getting to be excessive risk to be long now. I have no clue as to when a correction starts, but I can say with 100% certainty that it will happen. I am playing short the overnight market each night looking for it to start overseas. I think my risk/reward is very favorable in this strategy at the moment. You can stay long and make all the day gains, but I cannot buy it here. Flat or short now until the blood gets mopped up.