Good thing you checked yourself before making the sell off an affirmative statement. Nice that you further qualified your statement with more vague idiocy that doesn't reveal your obvious cluelessness in the field of trading. Definitely saw that waterfall sell off for a few seconds somewhere in between NQ's 2550 to 2595 climb. Did I hear ES is at 1355 you clueless moron? Oh, wait, you specified your value in cash, which was 1 point short of the 1360 I told you we'd hit. Did it ever occur to you that calling market tops without quantitative logic is useless? There is no chart pattern other than natural oscillations that will tell you which way it's going to move, but I bet you we hit SPX 1360 tomorrow! Oh, yeah! And what the hell did gold do today? Still short?
He claims he went short at 1731.27 and covered at 1720.05. I don't recall XAU/USD ever going as high as 1731.27 today, so I am calling bullshite!!
Why am I always out of the loop and never informed what he's doing until after I've made my comment? I know, it's because he's a poor communicator that doesn't believe in integrity, honesty, or humility, purposely trying to shame us all just because we call him out on calls that have done nothing but lose money. I haven't heard him end his S&P call so that'll run another good 15 points maybe before he says something and fabricates an excuse that it wasn't a real trade recommendation.
...and it's been going up ever since. No exit or stop given. I guess you are still short. Oh dear. Do you see how it works? Real trades have to have an exit. You can't just forget about the ones that don't work out. This paper trading isn't really working out for you. It's too easy for you to lie to yourself. That's not helpful for a mythomaniac like you, GS. Maybe you should try trading on a demo instead. Then you will have a proper account of your entries and exits.
First thing he has to understand is that he appears to be trying mean reversion, which is inherently dangerous. It can be extremely profitable if your mean reversion model is a good one, but the more profit the more risk. Pretty much the only way to trade a mean reversion strategy is through options, so that your risk is inherently limited. But you have to be willing to do some serious homework if your going to use options. Trend following then is what he should be doing. Pretty obviously that's not what he's attempting. It's a typical, very typical, newbie thing to try mean reversion. I can't remember how many times I've talked to folks who never made a trade in their lives and they bring up to me the name of some stock that's cratered and then invariably they'll look at me and say "So it's time to buy right?" (On stocks that have shot up of course the opposite question will be asked.) It's really really hard not to just roll my eyes sarcastically.
More conflicted price action yesterday with overextended SP500/DOW/NASDAQ chart break down opposed by Greece hopium and short covering as revealed by aggressively bullish candles. [All trades posted at blog] Please note I did not initiate conflict with the ET trolls. They are solely responsible and chose to troll my threads and stalk me. WARNING: Nine_Ender / bc1 / bhardy307 are stalkers and sockpuppets. http://www.elitetrader.com/vb/showthread.php?s=&postid=3449102#post3449102 http://www.elitetrader.com/vb/showthread.php?s=&postid=3420767#post3420767 http://www.elitetrader.com/vb/showthread.php?s=&threadid=227449
<a href="http://stockmarket618.wordpress.com/2012/02/10/aapl-parabolic-irrational-exuberance">AAPL Monthly Chart as of Feb 5</a> AAPL daily, weekly and monthly charts are extremely overextended and vertical moves like this are unsustainable. The inevitable reversal should be spectacular.
After all the protracted basing, USDJPY daily and weekly uptrend continues to warn of significant upside ahead.