Oh no! No selloff??? Whaaaa? Markets rallying? nooo What happened to the bear sterns and the subprime? You're telling me it's already over??? Should I cover...oh no I should???? Oh no markets going up???? beaaaarrr steerrrrnss please release more bad news..nooooooo it's over ..no more baaad neeeewwssss
Just curious, there are tons of newbie permabears on here who are every bit as biased as stock trdr. In fact, his reasoning is probably better than some of theirs. (These are the people who didn't even see the Cramer episode as a contrarian buy signal!) Why so much wrath against stock trdr, when ET is also filled with posts like "Bulls are gonna loose big this time. Subprime problems is just starting and even Kramer is scared. Then we have Iraq and oil...S&P will be 1200 by Deceber." I made that up but I've seen some posts that are about that bad...
The problem everyone has with stock is his arrogance. He is not a trader he is a buy and hold guy. When the mkt goes up, he spouts that he knows stocks and how the mkt works. The only thing he knows is momentum stocks go up in a rising mkt. I have asked him God knows how many times for a more indepth reasoning. He then goes away. I have been on all sides of the business: floor, buy, and sellsides. I do not start thread calling bottoms, or tops for that matter. Stock starts 2 threads a day telling us all what a genius he is. He will have his head handed to him sooner or later. One way investors always do. His arrogance will eventually ruin him, just a matter of time.
I think this market is in rally mode due to anticipation on a fed rate cut tomorrow. ITs the only catalysts the bulls have at this moment. If there is a "surprise" rate cut expect a 2-3% rally in the markets. No rate cut and I think the DOW dips below 13k.
People have been expecting the market to 'hand my ass on a platter' since 2006 and still hasn't happened. Today is an awesome day and re affirms the bullishness that has been present since 2002. The truth is my method DOES work and DOES generate superior market beating returns for very little work. If you enjoy trading ticks of a few hundred dollars of profit good for you but you make more money, actually. going long term.
See, you think this is supposed to piss traders off and get under our skin but you keep forgetting that good traders make money when the market goes up AND down. I have made some very solid money intraday today, up is just as good as down for me. Sucks for you that you dont understand how to play both sides, many many more opportunities out there that you'll just never understand.
stock_trad3r working his 2nd job. <img src=http://elitetrader.com/vb/attachment.php?s=&postid=1557827
You CANT play both sides cause you DON'T know with much certainty when one side is over and a new one begins. There is no flashing alert that says 'BUYING DONE! TIME TO SELL!. In the long term market goes up so by tring to time when it will enter a protracted sell off you will lose money. Playing both sides of the market (long and short) and expecting to somehow double your profits is a myth.