Landis & Makloda are GAY! They seem to get pleasure from harassing S2007S. There posts are minutes apart, fruit loops for sure.
Tell me why there is any reason to be long this market, is there another 5 year bull market coming to town anytime soon?? Come on, dont kid yourselves, there are billions and billions of writedowns coming. $200 Billion worth of ARMS resetting in the next 4 months alone. Why get bullish now when you can get bullish after the market drops another 15-20%.
Here's a much better question, and one that you actually have some CONTROL over (rather than going on and on about the Economy, which may or may not have any strong correlation with the equity markets) . . . Why buy the QID at $43, $42, $41, or $40 when you can buy it for $38.50? Where are your money management skills? Do all of those "cut and paste" articles that you post on ET all day long about the housing market imploding make you feel better? A lesson in money management is well on its way for you, my friend. No stops as usual. Tisk, tisk, tisk.
Werent you talking about stops when I was trading DUG and SMN a few months ago, how many times do I have to tell you that those trades that I did not use stops but averaged down into turned out to be profitable. Do you remember your posts on my DUG and SMN positions, if you dont I can gladly show you and I can also show you that DUG and SMN (which I do not hold a position at this time) are now trading above $35. I sold them 2 weeks ago around $36-$37 area. Im still long QID with an avg price of $42. My last purchase on QID was around $40.60 area. Im not adding to this position. I have patience, the NDX is going to skyrocket anytime soon so im not worried. AAPL, RIMM, GOOG and the rest of tech arent going anywhere anytime soon.
You notice how you sound like a clone of stock_trad3r? Rationalizing how your bet can not possibly go wrong. Got a plan B lined up? I didn't think so. When do you know you're wrong and have to exit the trade? Oh I forgot, you are never wrong so you never have to exit losing trades.
Please name me a successful trader that averages "down" after taking a 1/2 position and allows a trade to go 30% against them as the DUG trade did for you, when it was making new lows all the way down into the July 2nd low of 25.64?
That's what the people who sold me CFC, CORS, PMI and FNM puts over the last 12 months told themselves too. Publicly available information provides genuine edge.
And of course, the market makers that sold you those puts NEVER sold stock to "off-set" the other side . . .
Really now, says who? You, the paper-trader? Are the defense stocks in a bear market? How about the oil service sector? Integrated oils? Biotech? You have no idea what you are talking about.