I hear ya, this is a game of possibilities. But there is a fine line between prediction and technical analysis , aren't you predicting a price move your way when you get into a trade? Pattern recognition is a form of prediction, that the immediate past will repeat itself, until it doesn't. I'm a buyer at 984 with stop 982 and target 990-992.
Looks like things worked out as stated so far. Sure, the initial post was a bit one-sided, but the above quote nailed it.
theplumber, In some loose sense, all of trading or speculation is "anticipation" which can be interpreted as predictions. But I like to think of it as making "rational bets" all day long. It's like counting cards. You don't know what you'll be dealt with but given the situation you have a certain odds. And over time you have a positive expected value that should payoff. On any single trade you can lose. But that's OK. But over the long run, if you method is any good then it should yield a positive profit. That's the basis of all trading. If you can't think in probabilities then you'll be in deep shiet in trading. I wished i had my ORIGINAL shorts this morning. Oh my god, if I still held on, I'll be in major Caching! But I'm conservative. I play it safe. Anyone, want me to mentor them for $8K? On a day like this, even with a small account you can rake in $5K-$10K if you are careful. That's using maximum leverage(meeting min margin requirements). So, the mentoring fees would pay itself right away. haha. LOL. good luck. i might cover. 99
too hard on the original poster. Usually, when people like him get so excited it's a good sign to fade them...
Play what you see, not what you think... A good maxim I heard once that I remind myself of regularly (many times each day). I prefer to leave the prediction business to others and ignor any prediction that comes out anyway... Keeps me out of trouble Natalie
EqtTrdr - from the action of the Dow I would think that the McOsc might have signalled a McClose. Your verification would help, but I will look on the links you provided earlier. Thanks and good luck tomorrow.