C'mon. You know there wasn't a true housing crisis back then. The banks hadn't been burned so badly in terms of pure dollars, either. Oh look, the Dow's red.
Oil down = bull market?? Wasnt oil skyrocketing because of demand and emerging markets growing faster than ever before. I guess with oil dropping it should signal a global slowdown.
The market feels as if everybody and their mom is short the same BS stocks and they simply ramp on every down tick in CL. Homebuilders, regional banks, restaurants, retail, gaming, media. To think these paranoid short covering frenzies are simply over tomorrow is downright naive. We have no idea of how much hurt capital with exactly the same trades on (macro directional, L/S funds, market neutral) is out there.
Oh look, the Dow's green. IMO, a pullback is likely, but this is not an ideal massive short opportunity. I am at an overall delta neutral short straddle.
Yet another stupid thread in the TRADING FORUM of ET without one single post that speaks of technical levels, retracements, potential targets via "measured-moves", moving averages on a Daily, Weekly, or Monthly basis, etc. Just keep buying the QID, blah, blah, blah. The economy sucks . . . banks are toast, blah, blah, blah. Oh, the QID keeps making new lows for the move? No problem. Just keep averaging down. Buy the QID at $43, buy it again at $42, $41, $40, $39, $38 . . . blah, blah, blah. No need for stop losses . . . just keep averaging because it's just a "paper-trade".
What are you yappin' or whining about now? I'm doing fantastically the last month. Speak for yourself.