Only wealth destruction I see for the past 4 years is that of the shorts.... Faber? How much money has he made for his clients recently?
you are quoting a hugely biased site? as if its a legit economist? (i happen to be quite conservative..but cmon!) i have said here so many of you guys trade far too much on your own personal bias's such as strong end of world bias, T/A bias...etc what imo a lot of you guys cannot do is "aggregate" all of your fundamental, and technical indicators with much less of your emotion to possibly get a better forward pricer model.
during this 100 point pullback in an up trend, absolutely nothing changed regarding QE policy.... ... that is why speculation is a waste of time
MM = Money management the most important and critical aspect of the trading business should be implemented strictly.
Imagine how much profit you'd generated if you did exactly the opposite of what you've been doing. That would be: 2 long @1229.89, 1 long @1288.60, 1 long @1321.20, 1 long @1572, 1 long @1567, 2 long @1629, 1 long @1642, 1 long @1670. With S&P 500 currently at 1679, this equates to a gain of 2011 S&P points, or $100,550 in profit if trading the ES. Doesn't that give you a pause? Just to break-even on your series of shorts, the S&P 500 would have to drop by more than 200 points. Even if it does, it would still be a lousy trade because of the huge drawdown.
From the greatest trading movie of all time- Billy Ray Valentine: Oh, see, I made Louis a bet here. See, Louis bet me that we couldn't both get rich and put y'all in the poor house at the same time. He didn't think we could do it. I won. Seems there is some applicability here!!!! Booooya!