Stop assuming things. You donot know a thing about me. Stop these personal attacks, cause I will respond to you in kind.
Sucking on the Bush economic kool-aid still huh day? Time to just admit your a losing trader who can't just take what the market gives you. Stop telling people how their wrong and start admitting you are. Figuring out your shortcomings is the key to long term success. You probably still think we're in Iraq for a reason other than oil.
My post is not about success or failures and personally I am doing just fine. My post is about psychology and how that correlates to day to day trading and influences the markets. Looks like we have huge audience of negatively matched participants on this forum. They are behaving the same way as I see the markets. The sentiment is extremely negative, outlook extremely poor, hopelessness and despair to the maximum, and sense of entitlement on the rise.
So what is the problem? To me this is the perfect setup. You see the gloom in the markets, you see the fear in the typical retail customer. So capitalize. Make money day or swinging shorts and look for opportunities for long term holds on the oversold, but good companies. Under Armour hit the 20's are you kidding me. Don't look the gift horse in the mouth.
I trade double diagonals, multi -layered calendars due to high volatilities and they are directionless plays. I use Iron condors and OTM strangles. It does not matter which way this market goes. In options business I am a premiums generating machine.
What you need to do here is show that the negative sentiment is unwarranted. Considering all the pressures that have built up over the past years, the credit market troubles, and now worsening hard econ data, people can be forgiven for thinking that prices will go lower. You seem to be the only person here with a sense of entitlement, getting angry at the market for falling and angry at investors for wanting to protect their money. And as everybody here knows, the market moves in cycles on a time frame of years as surely as it does intraday, we had an uptrend for four years and now we're in for a downtrend of some unknown strength and duration. It's happened before and will happen again. Caution is the order of the day, but sooner or later the market will move upwards.
Here is another article to add to your doom and gloom. Hope everything crashes to a melting pot and sticks to the ground. Everything...Notice the timings of these articles. Seems like sky is about to fall and California plunges into the sea, and the Titanic sinks while the band is playing: http://biz.yahoo.com/ap/080217/the_uneasy_economy.html
I'm not assuming anything pal, you posted it yourself in here. And besides, you're the one starting these personal attacks. I asked you a question and you called me a "marooned rat", remember? Since you avoided the question before, let's try again: how come is it just fine for you to insult others but not-so-fine-I'll-call-the-mods when you get the same treatment?
Day, please answer this questions. In your own mind, do you think everything is ok with the economy? the consumer? the consumers balance sheet? Do you approve of the job the job the fed has done? the president? congress? the ratings agencies? the SEC? Can't wait to read your replies!