I really had decided that this thread is a waste of time, but right after I posted my last message here someone PM me to say that this board is indeed a (board) game ... when I took another look to find out why, I realized that all senior and elite members (except very few) have already deserted that thread .. and members with barely 30 posts are the ones posting right now ... voting for Mr. Genius ... a coincidence ? maybe ... BTW, I made only 250% return on my yesterday's trades ... I felt very bad because the most active and Bright member of my "Board Game" made 2500% return ... that was 10 times better than me ... but today I'm gonna beat him, because as ususal, I think the market is gonna go up, but on the contrary, it's gonna go down ... in which case I will make much more money that if it had gone up as I predicted ... can't u do that stupid ??? Trade against the market ... and you're the only winner ... and guess what ? all losers will clap their hands for you ... and even vote for you as the new Greenspan ....
ROFL. "I resign. I don't want to belong to a club that would have me as a member". Groucho Marx. Nice observation posted in the third person, Bono. Personally,I don't post on threads that I think are a waste of time and this post is my official post to inform everyone that I am not posting here. You bunch of losers (not including me of course).
bono: for the record i agree with the skeptics on this whole bottom thing. i don't see fibonacci having much more to offer than consulting a magic eight ball, and technical analysis certainly doesn't reflect the cosmic order. good technical analysis is like having the straight dope on a horse race, intelligent odds give you an edge but odds are loosely fit by definition and they don't give you foreknowledge by any means. but again i will say, if you disagree with a guy's argument then take on the substance of his argument. there are differences between intelligent criticism and blockheaded criticism, sarcastic teasing and cruel teasing. p.s. i find it ironic that you got pissed off at me for lightly teasing you on another thread (a joke about the fed buying stocks I think), but here you are ripping Lundy a new one
Looks like the gap was closed, but it doesn't change much of anything for me. I'm buying futures between 1024 and 1020 as I still think the first move is just wood for the fire (literally). I think NDX will take out highs now.
keep going lundy. You've got your own system and as long as you don't become an absolute believer and bet everything at once you will be ok. As for the critics, well they are entitled to their opinion of course, and they may be right, but I think they doth protest too much. Sometimes when people think you are crazy it is because you are right and they are relying completely on conventional wisdom. By the way Tim Ord, one of the most consistent market timers out there, agrees that we are in for a nice positive run in the s&p 500 and the nasdaq. Specifically he is looking for about a 100 pt run up in the nasdaq. But even he uses strict position sizing rules and stop loss orders and never doubles down a losing position.
I don't double down on losers either. It all comes down to definition of a loser. For me, a loser is when I don't know what the market is going to do, or I know it's going to continue against me. If I know it's going to go back my way, it's not yet loser in my mind. In retrospect, I can say that I've never doubled down on a loser.