More free publicity for Apple. Banning iPads is absurd, unenforceable and only serves to increase sales.
this, I guess, is the point of SCI: Buying or selling pullbacks has close to zero, often negative expectation, factoring in the multiple attempts you have to make to get this one right. In plain English: You lose money trading pullbacks. Are there specialists who can make consistent money trading pullbacks only? Sure there are, but none of you here on ET sound like one (exclusively trading pullbacks I mean) To me, most who go against clear trends sound like some disgruntled humans who find tremendous pleasure to go against the trend whenever they can and its certainly not a pretty picture in their trading accounts. Shorting AAPL here, proclaiming the success story of China dead (best one I heard so far), crucifying GS before any decision in any law courts have been reached, whatsoever. Its people who got hurt in trading, or this crisis, or their job, or whatever, and now they are fighting against the rest of the world. And I think the reason is that they actually belong somewhere in the woods of northern Alaska to wrestle with their hurt ego, ALONE. They are just too big of a pussy to actually do that, so they need to take it out on everyone else by going against any sort of trend. Being aligned with trends also gets you stopped out simply because most of the time markets are range bound. But if employed intelligently (no, crossovers of MAs is not considered intelligent) it at least results in a positive expectation strategy, after commission and other costs of execution. BTW, your argument about day trading vs longer term trades is factually wrong. You would not take any larger risk at all if you widened your stops and lowered your size accordingly. So there is no higher risk in longer term trades than day trades. Unexpected gaps ups/downs over time average out and should even in the intermediate not hurt you because you trade lower size than you would in day trades. Of course this requires you are not fully margined ;-)
Thanks for your cool post. I really appreciate your last paragraph. I am building on trading larger sizes (maybe via options) and longer holding periods. The middle paragraph was aimed at the general trading public, I guess. As for the first one on pullbacks; I did play the 15:25 pullback. I am a daytrader. so it was my job to do so.