Yeah... I wonder where are all those people who called TOPS?? You guys know who you are. James,et al. Do you guys still have shorts on? Or covered after the first drop? Haha. The futility of calling tops and bottoms. My guess is that a lot of shorts on ET lost a LOT OF money on the way UP. And now with their diminished account they can't take too much advantage of this drop. Or they nailed the "top" but covered too soon. such is the irony... Come on ya. Come and confess. I like to hear the stories...
So basically, according to the results of this poll, the Dow is going to drop another 1000 pts. LOL. Good luck everyone.
Ok I'll bite, been short a core holding since 1520 on nq. I got stopped out about 4 times in Jan, lost about 10 pts each time before my last entry. It's hard to re-enter a position (even harder to enter at a worse price) after getting stopped out but one thing I've learned over the years is that you gotta be able to forget past trades and just keep looking fowards. As for crash, it's tempting to look for one but it sure can cost you in letting your greed take over. Scaling around a core is a good compromise.
What do you want to hear? I called the top the day before the correction began. I went on the record saying I was adding to my shorts (re: see thread "is S&P out of gas"), and I've maintained a very bearish stance ever since. And oh yeah, i've made 10% on my portfolio in the last two weeks. And I'm still very short and bearish. I suppose that covers everything.
If you will. For how long have you been trading. Tell us a bit about your past and your education, experience, training, et cetera.
who cares.....as long as the market moves and i get filled....Most of you guys sound like investors...not traders. ...
I'm a student. A sophmore. I've been investing in stocks since July 2003. I've a beginners understanding of eco, TA, FA, et cetera. I want to know about you because you seem successful. At least you quite accurately called the top. At least tell me what software you use? What indicators and chart types?
I'm going to respectfully refer you to this thread. http://www.elitetrader.com/vb/showthread.php?threadid=29376 excluding all the insults and garbage, I give the best reasons I can for my bearish position in this thread. Other than that, I'm not going to resurrect the problems that go along with me describing anything with respect to myself. It wouldn't be fair to this thread. But I know what i'm doing with respect to stocks. How many other people called the top on ET one day before it happened?