It seems to me that a larger fraction of the public (including individuals running trading businesses) better understand bears markets and are less fooled by wall street sales argument during bear markets. The consequence in my view is that bear markets should last a shorter amount of time, if one accepts the reasonable assumption that a market bottom does not depend on the amount of time the market takes to go from the top to the bottom. In my view SP 780 is the bottom are, and we are at it today. Is not insanity to short the market at this level? Is not an act of stupidity not to start loading on long positions in one's retirement account? This bear market seems to me to be over. If the area of SP750 is not a support, then we are not in a bear market but rather in a depression.
One failed bottom prediction per ET alias please! http://www.elitetrader.com/vb/showthread.php?s=&threadid=144685 The Bottom: November 12, 2008. 2:06PM. NDX at 1177.
6.5 hours after that call, market went to NDX at 1241. Gain of 65 NDX points! That is where I sold to you (where you bought it to cover your short at 1177 and you went long)! PS: GTS=Great Trading Supidity!
Yes, because you said it was the BOTTOM. It wasn't, so your call was a failure. If you made money on the trade, then the TRADE wasn't a failure, but the bottom call was.
Given facts in my previous post in which trade was a big winner, and your answer to GTS, you just proved that you are indeed a FOOL! At least you can choose a correct name. Now try to improve!
Trimtabs. That was your clue. Wait until Q4 redemptions are finished before you even begin to contemplate an end to the downside, even without considering fundamentals.