Calling out your trades. I like this. I will watch the results and will come back and give you some likes if you are right.
I'm still waiting for Mr. Chris Mac to chime in on Pig Lots. See thats the thing about all the chartists who don't believe in fundamentals... they are GREAT at explaining something AFTER it happens. No money in that. If there are truly tells leading up to an ER that can be devined from the chart... this would be a great opportunity for Chris to comment and prove his mettle. BEFORE Friday Chris. Not After. I wanna learn! Is that not what this forum is for?
Mister Vanzdant , you are between "unconscious incompetence" and "Conscious incompetence". The bad news, road is still long long long. The good news, you are not alone, 80% of traders are still at the beginning. If you want to regularly win this game, try to understand why there are some people that take the other side of your trades? Why some people buy when you short HOG @59.90? Your problem, as a lot of people here, is mainly psycho : You need to guess and being right, now. That is why you stay an incompetent trader. You need to "reset" your brain, forget your loser's habits and work hard. HOG : yes, @61 dollars, maybe (I say maybe) it is time for longs to take profits because we are close to a double top. Former high was tested without success. But this is not a good "short", it is a strong buy @$50 or a buy @$55. BIG : sure a good short candidate if 50 dollars don't hold. CM
Dear Chris, Regarding your little picture... it looks like it comes from some 1980's $50 weekend seminar at the Holiday Inn explaining what some two bit washed up psychologist has boiled down to a self help concept for people with IQ's of first graders. Its stupid. Anybody can make a picture that says anything. Did that come from a get rich quick real-estate seminar? I didn't ask you for your opinion on my skills as a trader, I asked you for your opinion on Big Lots and once again, the Wizard of Oz holds court. "Hog is a short (maybe)"... wtf does that mean? A 20% drop to $50 is NOT a good short candidate? And this:..... "BIG : sure a good short candidate if 50 dollars don't hold". How does that help playing the earnings Friday? You specifically said, on another thread, that major moves in a stock can be predicted beforehand from the chart by divining what "smart" money is doing. Why don't you just admit that you don't know. There is no shame in that. Quit speaking in gobbly goop and answer the question. I know what my track record is and its about 10 times better than Jim Cramers in the stock picking arena. If I have any weaknesses, its not in stock picking, its in risk management and a penchant to swing for the cheap seats. But as I don't have to trade for a living, I enjoy it very much. And after many many years of paying capital gains taxes annually, and never having a loss carry forward 2007 aside.... I think I'm pretty damn good no matter where I fall on some egghead's overhead projector slide show. Somehow I feel, ....and this is not a slam,... but you are not exactly the life of the party in social settings. Introverted and nerdy. Am I right?
This is my last post. Good luck. Sure Maslow was anybody and stupid. No, it is not. At best 20%. On the other side, you can lose your shirt. No interest. Buy between 50 and 55. Of course I don't know the rationale and the fundamentals of HOG or hundreds of stocks / sectors and I don't care. I am not here to "know" or "being right", I am here to make money. Yes, this is fun, until you lose everything. Sooner or later. What a bad example ! This guy is an investment advisor, not a trader. He makes more money selling "advices" rather than trading/investing. But I am sure your track record is better than lots of people, and worse than lots of people too. You don't need to think you are good if you are enough good. You just are good. Alas, you are not a good psychologist too. I am rather extraverted but experience taught me to stay calm, focus. CM