I make the reference to surf because there are really great traders on this board, who don't jump all over every new post and claim its a phony just for the sake of it. If you have such aggression, that u feel the need to attack everyone, get into therapy asap. I've read the board here for years, but never posted....I created the user name/account not to make market calls, but instead to share some thoughts with fellow traders and get some of their thoughts. So far, all I hear is some bickering and kvetching over my making a market/trading call. Seriously, get a grip. If you disagree, fine. But post after post about how this is just another fake post and I will disappear soon, yada yada yada.... I put my money where my mouth is . I am short. There you have it. Its not fake. Are you?
I would say one out of every 15 stocks or so, this happens to me. It continues to go straight to the moon. Well, thank goodness, I never leave enough in one position that it could destroy me. For example, when shorting GE yesterday, of course I bought calls to protect myself in case it continues to gap up and go up another 3 or 4 points. When a stock blasts higher and higher and you are short, you either cover it, reshort to average down and then cover on the next dip down. There is nothing else to do. BUT, keep in mind, it only happens like I said, about 1 in 15 stocks. Most of the time, stocks retrace. There are stockholders eager to sell and ring the register, as well as technical traders shorting into the blast waiting for the retracement. As soon as the last mom/pop/sucker investor is in, all the bids disappear and the stock is down 3 points before you can blink. The key point is never have too much in one stock to destroy your account.
I just realized how you racked up almost 2000 POSTS!!!! you reply with so many "unnecessary, unrelated, uninteresting, side points. Instead of making posts about me making posts as a newie, why not comment on the ACTUAL TOPIC AT HAND. Do you think the market still has legs to run? And dude, calm down...u sound depressed. call me a newbie all u want. I have 9 years trading under my belt. Why cant someone with 9 years experience go on elitetrader.com and post a message?? Will it be beneath you to come on this website once you have 9 years experience??
No one believes you've been reading the board for YEARS and just now created your first user name. And then post 12 times (and counting) in a couple days. But anyways, I did not disagree with the premise of your statements. Clearly we have experienced an unprecedented rally off the lows and it only SEEMS fitting we should pull in. Statistics would say we are due for a retrace and so I agree with you on that.
Been there, done that, for better and for worse, but as far as swing trading into earnings goes, I only did that twice, both times by accident (my earnings calendar reported incorrect dates), and oh so thankfully both trades turned out well, though I did not sleep well either night when I found out earnings were to be reported the next morning. Best of trading to you!
There was no melt up "last time", so you simply assume that with a 100.00% probability there won't be one now? Talk about "extrapolation bias"
this is an amateurish view of the markets, it is not abt whether markets go up or down , but whether enough liquidity exists for high risk/reward setups to occur, for many months now bernanke sucking up of liquidity from equity to fixed income markets have rendered such occurences few and far in between