nah, not quite. I hope you aren't worried by the big bear on wallstreet for another 5-10 years.....and I SURE hope you aren't anticipating the big bull market to return sometime in 2009 because if you are you better have a seat....
Wow. Over 7700 posts ( most of which are posted in the TRADING forum ) by someone that admits that they don't even TRADE. As usual, it's all "blah, blah, blah . . ." from you without one chart or a series of technical analysis tools to substantiate your opinion. You admittedly DO NOT use any stop-losses and almost always "average" into your alleged "trades". Two Fridays ago you told everyone to fade the nearly 60 point rally in the S&P even though the market double-bottomed with a successful test of the previous 815.69 low recorded on Monday, Dec. 1st. The market held 818.41 on Friday, Dec. 5th and was +30 handles on the day. Yet, in the late afternoon you tell everyone that you would be FADING this rally and that there was no way it would carry all the way to 4PM. This past Friday you told everyone that the Dow would never make it into the "green" and was most likely heading below 8,000 on all of the negative news. Wrong again. You obviously wouldn't know a "double-bottom" if it hit you up side of the face, and it is clear to everyone here that you don't do anything but "paper-trading" given your admission of NEVER using any stop-losses. You've had plenty of opportunity to post all of your inverse ETF trades here, but have refused to do so. By the way, are you "employed" by Baron in between your college classes to help keep web-activity up on ET? It sure seems like it.
Trying to <i>guess</i> the short-term direction or for that matter the long-term market direction will leave <B>most</B> frustratingly wrong. I am leaning towards the idea that the recession by historical standards will be on the very long end if/when it lasts for another 6 months or so. Then I'd go by the fact that the market almost always emerges into an new bull trend somewhere near the mid-point or the recession. So if we have officially been in a recession for one whole year. . .we must (regardless of economic data) be close if not already seen the "bottom". Go figure!
Made some bad trades thinking last Friday would be a bloodbath. Asian markets appear to be rallying because the big 3 might get rescued: http://www.bloomberg.com/apps/news?pid=20601087&sid=a7P.D2PeNWJ8&refer=home But Perino said there will be no announcement until Bush comes back from Iraq: http://ca.reuters.com/article/businessNews/idCATRE4B50CL20081214?sp=true
You keep thinking that a double bottom is the way to keep your bullish stance and ill tell you that this market is different from any other market we have had over the last 100 years. A double bottom means absolutely nothing in this trading environment, anyone trying to compare todays market to past markets will get it totally wrong, there is no text book written to help one guide them through these erratic markets. Keep that bullish stance of yours.... you are going to need it soon.
You are a FOOL. TRADERS can make a small fortune off of technical set-ups like the double-bottom that occured on December 5th. In fact, the SPX rallied 100 POINTS from the low of Dec. 5th (818) into the high of Monday, Dec. 8th. (918) That's 12% !!! Obviously, you don't know what you are doing. If you really did TRADE you'd be capitalizing left and right over a 2-day and 100 point move in the S&P. Thanks for showing us once again that you have NO idea what you are talking about in the Trading Forum.
Well I will tell you one basic rule that has always been valid, no matter what market we're in: LOSERS AVERAGE INTO LOSERS.
something to thing about. In this market, even the large well funded crooks who "make the news" , have access to all order flow info, and who can at times move markets are blowing up.