I have seen how this market is doing. Market rallies hard in the few hours and takes you in a bullish mode. Than around lunch hour it pulls back and than rallies some more and right at 3:00 everything starts crumbling downwards in a tizzy spiral till the last morsel of a stock is sold off. Right around that time the whole screen turns red. Its called " FADING THE RALLY" a Wallstreet gibberish name for conning the retail investors. Its not that people on Wall street are smarter than you and me, its people are dumb enough and they get taken in time after time. I mean, come on , how many time you can run the same joke and we can laugh? It gets old. So here is what you can do. When it rallies buy some and scalp a few pennies here and there ( you can't have much more than a $1 or $2 ) and sell sell sell into the strength. Just fade the rallies yourself. Always stay on top, become a day trader otherwise you shouldn't be in the markets at all. The game is just to outwit the other guy. Find any strength and sell, sell sell till you have nothing left to sell. Sell hard and fast and fade yourself into oblivion.. Look at AAPL what a range bound misfit now. There are no buyers, no sellers, just a bunch of piss ass hoarders fighting among themselves up and own few points. Its the same story in many stocks caught underneath 200 day moving averages and fighting for few points up and own all day.
What?? Be a daytrader!?!? You said here, 2nd post down in the attachment, that I'm basically a moron for daytrading and you are a long term guy. http://www.elitetrader.com/vb/showthread.php?s=&threadid=116978&perpage=6&pagenumber=9 How many times are you going to contradict yourself?
So much for having someone on ignore, you still have to see their threads in the forum list. Stop quoting this yambag.
Hey, if I want to make this guy look stupid for saying two completely different things in a short amount of time, I'm going for it But I do agree with you, thread starters you have on ignore should also not show up in your main list. That is annoying.
Still holding plenty of long position but just added more proshare inverse ETFs this afternoon.... (SELLING PRICE) SSG 78-80 SMN 44-46 DXD 58-59 SDS 65 TWM 82-84
Well on a more serious note, 1:05 to 1:25 est provided a nice power up move in the market. Yet, none of the stocks i've been watching made any significant moves. IF we see a any significant selling pressure, we might fall hard. Then again, wtf do I know.............very little, thats what. hah
I have mr happy pills on ignore as well, but now that he has thrown in the towel, the market can rally from here until around the end of the month or so. 1420-1425 is the number where the battle will lie. Thanks day I bought some beaten up names friday and yesterday, you have confirmed those buys.
1424.75 is my ES buy stop, let's see how well the bulls do up there instead of the middle of the range (like today)