S&P is key, IMO. @ 1500.79!!! Razor's edge. Edit - 1498 I won't keep posting the Spooz. But if it closes under 1500, watch out below.
Patience is key Don't over do the margin and give the trade time & room to work. A lot of people want an easy buck. Making money takes time and patience. Patience will be rewarded
this has got to be the funniest thing uve ever posted...dayum you caught urself...hahahahaha hahahaha...considering you've started numerous threads saying easy money this easy money that...
Yeah, what's 150 points amongst friends? Right? Question is, you elite trader you, how much money have ya made on the short side today? Stocks go up, stocks go down, traders make money all around! Good Luck!
I agree w/ the idea of patience but at the same time you must remain flexible in your outlook, being too "this" or too"that" is a recipe for disaster. You can remain calm but that doesnt mean the mkt will eventually bail you out before you run out of money.
I did go long again, however Im still holding onto my short positions and proshare inverse etfs. This market looks ugly right now, it actually feels lik April/May of 2006 all over again, I remember trading back at that time and everytime I went long the market dropped further. Im not falling for it this time though.
The Utilities Index is now coming down to where it was during the huge Feb 27th sell off. That index has already given up close to 8%. Looks to be entering its own bear market.
That's a hard concept to convince a young man of, hence the reason for most of the post here on ET. Lots of young men "smarter" than the best price discovery mechinism ever concieved, the MARKET. Agreed, let it do its "thang" and just extract what it gives you. Above the entrance to my trading room I have a sign posted, "Animals not allowed!".
I thought the same thing, I was going to play the opposite side of the emotion today but the market kept turning around and running the other way. The trin is at 1.33, put call ratio at 1.080 and I've seen a ton of -1000 ticks.... all over the Fed not lowering rates. In fact as I write this, another -1000 tick fired off and the YM fell even more. The chart looks like set of stairs, it's fairly easy to play.