The jump off point 12200

Discussion in 'Stocks' started by myoffices, Aug 11, 2008.

What do you think makes a great trader?

  1. Instincts

    4 vote(s)
  2. Luck

    0 vote(s)
  3. The right tools

    1 vote(s)
  4. Information

    0 vote(s)
  1. Its here again as the shorts look to maintain a good level to short from 12300. DOn't be fooled we are in dire need of oil and natural gas wont replace our needs. In trader terms be wary of playing catch up. Be in it to win it. Im still reiterating my 10200 bottom and oil of 200 scenario. That means that in between the volatility will be like a wild rollercoaster. Trade like you're a trader. No holds on anything past a two hour trade position. I am in no way convinced by this dead cat bounce as we see a bit of covering and also a lack of real volume. Volume precedes price.

    If you are a trader this is the type of market we all dream of. In for a 1/2 out for an 1/8 before you get hit on the bid by an major institution block. I liked HD home depot over here I think its the new Victoria secret for Men. Lose your rent money in the market-- fix the cabinets in the kitchen. LOL.

    Financials have two more quarters bad news left and then expect great returns over the next 18 months. Many of those subprime loans have been converted to fireloss sales and resold to prime borrowers. This should be reflected in the next two quarters.