I didn't even have to open up the thread and I already knew who started it..... None other than the "one-way" BLOWHARD.
like I said...bear market rallies (and YES this IS a bear market) are fast, sharp, and violent... Not much impetus to move the market higher.. People who are long stocks now, with no intention of selling or getting short, are fucking crazy in my not so humble opinion.. I should edit and say that I knew this would happen and scarily agree with Grimey Grimes that the 1420ish area will be touched soon...
I'm continuing to be Selling into Rallies. This is a Bull Trap in a Bear Market Rally. There will be further write downs for the financial s, that will drive the markets lower, the housing sector will see further price depreciation in home prices, consumers will continue to be squeezed do to falling home prices and an inability to tap home equity, we are entering a recession. I trade the market on both the short and long side as I see appropriate.
ACCORDING TO INVESTORS BUSINESS DAILY Feb 26, 2008 : MARKET IS IN CONFIRMED RALLY MODE. You know what that means? What I posted on Sunday full 3 days ahead of IBD when I saw Friday's turnaround and the massive buy program that hit you shorting asses burning them to hell and beyond.. This is the first time, IBD a connservative voice in investing has turned bullish in 2008. So far they have been carrying the headline " market in correction mode" even though NASDAQ flashed a follow through day on Feb 13, 2008. I argued vehemently with them , but they didnot change it till now. What it means, shorts you will burn in hell! Stop looting American wealth little ....pieces of garbage..
As others have stated, for day traders shorting and buying are both viable options. The market was zooming up today but my big winner was a short. When you trade stocks that have high interest they tend to trend away from the market minimizing risk of having to make trades in concert with general market direction. I congratulate you on the correct call of a rally this week. If you maintain that track record of correctly picking market direction you'll be rich in no time.
Thank you. I also happen to make 5-10% monthly returns in options trading based on Technical market analysis. However I must admit my stellar record has been more than tarnished in January, February 2008.
raelly? omg why are you wasting time on ET?! go to your bank now and tell them about your awesome system you purchased off eBAY. you can start a hedge fund, you will make billions why waste time here?
http://snltranscripts.jt.org/79/79tdouchebag.phtml Couldn 't find a video. And remember - it's LORD Douchebag!!!!!
Listen there are lots of successful people out there. If you donot make 5-10% in options you shouldn't be doing it for pennies on the dollar scalping and dumpster diving in the markets. I am making enough. Talk about options, thats the way to go. You make a lot more with time and strategies that work in any givenmarket.