Sounds like a lot of people still think the market moves "because of" news just like the talking heads report at the end of the trading day. Bad news should mean a down move and vice versa. A sure fire way to lose money. opm8
First off, I make no secret of the fact that I wish the market would go down forever. I'm probably the biggest bear you'll ever meet. My bearishnes though is BECAUSE I'm a scalper. For me, a falling market is an ATM machine. Scalpuing is 10x easier when there is panic and volitility insted of these god damn gap and go's. I cant make shit when the market starts its relentless grind higher. So yes I have a huge BIAS for the market to fall. Add to that the fact that I hate bulls like the ones on this board and cheerleaders like Kneale and pissani on cnbc, I just want them all to shut the fuck up and suffer. All that being said, I dont take positions over night so the level of the market means jack to my trading, as long as its going down.
I joined the intraday trends today, wed, tue, mon. I fought the trend thu. Lost money thu, gains the other 4. Lesson for me: Doesn't matter how the market reacts to the news. If I think the market should act a certain way, I will often fight it. Market couldn't give a care that I think it should move a certain way, therefore, I try not to let the news bias me. Thu was the only day I had CNBC on. hmmmm......interesting. Guess that was lesson 2.
Bummer! Been pissing myself laughing at all these crash warnings in ET as I loaded up... now I'm going to have to start looking to sell out if this kind of chit chat starts. And no, I wasn't selfish - I posted what I was up up to on ET in Yum Yum this market loves negatives. A bull market climbs a wall of worry but if the happy buyers are back then it's lambs to the slaughter time. Isn't ET a great sentiment indicator? I'll be watching the number of posts/repilies to threads like this.
Just know that your incessent bearishness is as stupid as some of troll's bullishness... its just dumb.
Last time I looked, the misery of others - regardless of them being bulls or bears - never put any money in my account. I only make money when I'm on the right side of the market. Why argue yourself out of potential opportunities just because they're on the long side?
Its not only about putting money in my account. Like I've said before I make much more when the market trends down, but the added perk is knowing that mindless chearleaders are losing. Yes maybe I'm irrational but I hate all bulls. Its doesnt affect the positions I take or how I trade intraday but even if I make 3k being long all day, come 4 PM I'm flat and once again a die hard bear.