Thanks to Feds rate cutting, I did not lose a dime. Stock market should be left to hardcore lifers and scalpers who have no other income stream.. they will be here day or night scalping little morsels down their guts.
As I said, you're an idiot and you prove it more and more with each post. Here is a bullish post I made early this month. http://www.elitetrader.com/vb/showthread.php?s=&threadid=118669&perpage=6&pagenumber=9 I don't have pre-conceived notions on where the market is going. I trade what I see, and in that post I saw stocks as a good buying opportunity. Needless to say that can change quickly, but at least temporarily I was looking for longs.
Most readers on this forum are hardcore scalping shorts and bears. I have yet to meet Option traders, hedgefundies, long term investors and wealth building strategists. This a day trading pit...There is so much doom and gloom in here...people with explosive deluded depressed outlooks..,, personally attacking me with vicious and unbearable barbs... I think BEARS are running out of bullets, capitulation is near and defeat certain.
In most instances the doom and gloom come from people who don't even trade on a daily basis. Day traders do not have ANY pre-conceived notions of what the market will do, they trade what they see. If the situation calls for going short they go short, and they don't say "well I think the market should be going up, so I am not going to short this signal". That's how you lose money.
Thread after thread bespeaks of this doom and gloom...psychotic deluded schizoids howling recession, recession in every paragraph.. Give me a break... I am sick of depressed and pessimist junkyard dogs.
Then you should stop staring at your face in the mirror. Have you ever considered becoming a preacher? Your pseudo-religious hallucinations are quite entertaining.
There's still way too many bulls around for me to believe we've hit bottom yet. When all the talking heads come out and say "dudes we are fucked" I'll start looking for some swing longs. But until then I'm just going to continue playing the intra-day volatility both directions. cheers.
Did you know that DJIA moved above its 50 day moving average today? Clear cut bullish signal ? Yes? Hello is anybody in there? I posted yesterday that we have a bottom. If I am short I will fold my tent and live to fight another day.
This has to be true for real traders. ET is overwhelmed by crazies at the mo.They are the herd baying for and willing the next downfall of whatever bank or business. The markets currently, for active day traders and savvy players, can make you richer very fast - by the sheer volatility of prices and thereby the huge amount of points up for grabbing on every daily session of many markets.
In the timeframe you are talking about I wouldn't argue with that. There are market supply demand dynamics that virtually ensure a snapback. Beyond the day timeframe if you watch the news flow it is clear it it moves from "end of world nigh" (buy) to "we are saved" (short) and back again. However beyond the day timeframe we have had people saying "everyone is negative on ET so it is time to buy" all the way down.