I think Rich Bernstein's call [ many months ago]about a bear market this year with tradeable rallies may be right. And to somewhat paraphrase AAAin the beltway; If QQQ are strong + DIA +SPY are under 200 day moving averages-thats a divergance. DDfina I might help Seanote out some;wait till I can do better than a scalpers profit on a swingtrade.QQQ still look strong;but I never implied any opinion was equal to a bid price.
SEAGATE. What happened to you ? Where have you gone ? Have you made enough dough and now retired in the South of France ?
Hope all has been well with everyone's trading the past few months. I on the other hand have cut my trading down to strictly swing trades covering a few days up to a three week time frame since I currently do not have the time to watch my computer everyday. I haven't executed a day trade once in the last two months or so because of my new time constraints and venture. Over the past eighteen months a business partner and I have contemplated the possibility of opening our own money management firm which has always been my passion and top goal for many years now. With the different areas of expertise we both possess it is becoming more and more evident that we should and will move forward with this venture. I'm sure some of you may question why I'm making this move when we already have the ultimate job, which is working for ourselves from the comfort of our home and making a great income. There are many answers that have helped my partner and I make this decision and Iâm very confident that this is the right one for the both of us. I will still be working for myself as I have been for quite a while now but I will now have a broader scope of impact on individuals as well the potential and stability of my income. I love trading and following the markets and that will never change but when you come across an opportunity such as this, which adds new growth and rejuvenates your entrepreneurial skills, I believe you must welcome and embrace the opportunity. Our money management firm is not going to specialize in continuous trading of equities like most traders on this board are accustomed to but we are emphasizing our focus towards the fixed income arena of the markets. We are not going to be glued to the computer everyday watching each tick and investing accordingly. We are dealing with high net worth individuals who want to preserve their principle followed by modest annual returns. Now âmodest returnâ is a vague statement but ideally weâre working towards a 6% -10% annualized return depending on financial goals, risk tolerance and time horizons. The majority of assets will be invested in fixed income with some in equities but a minimal amount. Over the past 5 years after meeting and speaking with many people I realized that my partner and I have more contacts and acquaintances that are looking for the type of service we can offer which solidified our decision to move forward with this venture. We are in the process of opening up a broker/dealer, going through the NASD registration process, finishing additional licenses that need to be acquired and choosing a clearing firm. Once all of the red tape is finished we are looking for a start date sometime this summer. A few traders who I still keep in touch with were surprised of my decision saying I was turning a 180 on my investment/trading practices. However, my experience in the overall investment realm goes well beyond trading stocks which I have only addressed on this board. My partner and I have a solid background in fixed income, real estate, DPPs and Oil & Gas so this is more of a culmination of our experience over the years finally brought together as a team. I have done well for myself trading over the past 5 years which has now allowed me the ability to begin this venture. I have always believed that it is virtually impossible for an individual to consistently trade the markets successfully over time. Iâm referring to 5 years, 10 years, 20 years down the road. Iâm sure there is the anomaly trader who has and will continue to make impressive and consistent returns over those time frames but Iâm not willing to take that risk. I have realized that now is the time to make my move and I have no reservations doing so. Iâm not implying that the markets are no longer tradable with my strategies in place so Iâm moving today. Thatâs not the case at all. The direction and personality of the market has nothing to do with my decision. I have always been a big risk taker, as long as it was an educated risk, but now I think itâs time to take a lot of that risk off the table. I am confident I will generate considerably more income in 1-3 years than I currently make with much less risk and most importantly I will have control over peace of mind. If you have any questions or comments please feel free to post of PM. Iâve thoroughly enjoyed this board and the members who have participated over the past year. Good luck to everyone and have a great New Year! Seanote
that's fine and best of luck to you, but what doesn't make sense to me is why you felt the need to justify your decision to the board?
oh, i also wanted to say that i completely disagree with this. and if you belive this, why should a person give you their money to trade?
tough crowd. he has no need to justify his decison. after making a thousand or so imformative posts, it is nice to see how certain people don't rest on their laurels and look forward. best of luck.