I hope everyone is long...

Discussion in 'Chit Chat' started by ProfitTakgFool, Jul 1, 2008.

  1. There is absolutely relentless buying coming into the market. We do need a minor correction here for it to keep going. If we get it the market could very well run into the close without looking back. Put in a stop and close your eyes.
  2. Buy today and get slaughtered tomorrow on some bad news.

    People are buying because GM was basically giving cars away last month.
  3. Surdo


    Thanks for waking me up to get short in a few minutes, as soon as we go green!
  4. Market will be up HUGE tomorrow. I have not seen buying like this in a LONG time!

  5. I'm long from 1266 and holding. It ain't about being right or wrong. It's about having a plan and trading that plan. My stop is at Break Even and I will sell my position down as the day goes on and hold a small amount overnight.

  6. Parabolic move up here on the 5's so I'm 1/2 out.
  7. Surdo


    Thanks Fool!
  8. I guess you didn't trade the frist 1 1/2 today.
  9. Just a reason to take profits. The GM news is nothing major.
  10. Of course I did. The greatest amount of emotions occur at tops and bottoms of the market. Does it surprise you that we lifted off and plummted right back down and now we're at lift off again? This is EXACTLY how bottoms are put in.

    Many of you guys are missing the point here. It's not my goal to be RIGHT. It's my goal to have a plan and trade that plan. Stop is at 1266.00. If I get stopped out so be it, I still made money. It is my belief and I certainly do emphasize the word "belief" that the market has bottomed but I will still manage my risk with a stop.

    #10     Jul 1, 2008