YEAAAA! What BONO said.... wake up call. If you are going to run your mouth like you know it all 1000% , then you better be willing to wear it when it flies up in your face.
hey guys i have an idea, let's find Lundy and drag him through the streets and staple his nipples together and bury him up to his neck in an anthill and poke his eyes out with a burned stick. that's sarcasm in case you didn't notice... i can understand chiding the guy for a ballsy call that got nailed, but what is with the extreme bitterness? "i doubt he even trades," where is that coming from? did he remind you of your abusive uncle or something? i was skeptic too on such a brazen call, but why kill the guy? it's true that he may have overlooked one of the key principles of probability, i.e. that in an environment with a consistent outflow of bad news and deteriorating psychology, there is a higher probability of continued downside than sharply reversed upside. but do we really know what his trading ability is, let alone how good of a trader he may become in the long run? i turned a small sum into a massive sum in my first year of trading (1999) and then gave it back like a moron (it was in gold options not in tech stocks). if my experience had been chronicled on this board, and the size of the profits i gave back, i probably would have been shredded like tissue- and a lot of the guys doing the shredding not even really in the game. but guess what, i learned bigtime from that mistake. in case you haven't noticed, just about every majorly successful trader in existence starts by overshooting their confidence and screwing up. i'm not saying that what Lundy did is a mark of greatness, but it's not a mark of guaranteed failure either. In many ways a guy who makes a painful mistake has gained a lot, because the ramifications of that mistake are burned into his brain providing him with a fuller bag of experience and street smarts. humility is also a far more advantageous trading partner than smartassed pride. the guy was wrong, dead wrong, but we don't know how much he will learn from his mistake, we don't know what his trading ability is in other respects, and we don't know what his future path will be. we also don't know how many of his detractors are blowhards with $2,000 Ameritrade accounts. we do know that kicking a guy when he's obviously down is pretty much childish and lame. also: let us not forget how much basic trading knowledge is not much more than fluff and trivia. understanding how to parrot cliches is not the same as knowing how to trade. its very easy to say "Lundy you idiot, you never fight the trend don't you know that," and not know much else other than how to repeat conventional guru speak from conventional how to make money trading books.
Picking on the guy to give him a tough lesson, which he won't forget .. is a point of view ... Not picking on the guy and letting him talk his nonsense ... and find his own way home ... is another point of view ... Why does everyone want to force others to follows their own point of view ?? If you wanna pick on the guy just fuc5ing pick on him .. and if you don't wanna pick on him just fuc5 off and find yourseld another thread ... WHY IS THAT TOO HARD TO UNDERSTAND ???
ok, i was wrong on my prediction dates. I am still long, I'm still bullish for today, and I'm still bullish long term. But I need to see how I messed up before I put more money behind it. my options are pretty worthless, since I bought all out of the money calls. so i'll just hold them. I've got 1 month before they expire.
Right! To call the bottom for a long term investment is highly unlikely. You may be wrong by a day or two or even a few weeks, but if the market is higher 3 months from now, you are RIGHT. Most commentors are traders and loose sight of the forest for the trees. If the news yesterday had been good rather than bad, you would be getting kudos rather than attacks. Hang in there, time is on your side.
Gotta admire your conviction... ...but this is exactly why this market continues to drip lower and lower. Because of pickers like you that need to be washed out.
LOL I didn't know there were only two options Let's get one thing straight: being neutral is all well as good, but predicting is not necessarily a loser's game. for example the bigger you get, the more you have to be proactive rather than reactive, because your speed edge is gone. when Soros made a billion dollars in one day in '92, it was because he saw the writing on the wall and made a bold prediction. many of the big players make their money thru wise anticipation. that may not be Your game, that may not be the game of most players on this board (not mine either, for now at least) but that doesn't mean it's an automatically stupid way to play. p.s. anyone else find it ironic that Wcom is headquartered in a town named Clinton- for sheer irony's sake, exhaustion gap's sake and punch weak longs in the face sake, a day like today actually could have viable merit for being the end of something.
why do i think today? cause my psychic said so. why should I even be doing this? cause If I am even within 3 days of a turnaround, I will bank.