I don't think I ever have talked about the money I made or lost....Not in a public forum. But we all look alike with our yellow smilies.
EX-ACT-LY in the LONGTERM, the market regresses to a mean, and securities are (generally) reasonably priced. that's why, in the longterm, it's good to buy weakness and sell strength. however, in the short term, stuff can stay "overbought" for a REALLY REALLY long time. it's absurd to short merely cause "it's gone up a lot and is overbought" i DID do a few shorts today and some longs today. but that's intraday scalping but all this heroic "calling of the top" is massive stupidity it's an exercise in ego, not trading
Man that was some correction today. 6 points on the dow, and almost 2 points on the s&p and nasd. I just don't know if I am emotionally ready to go through another day with that kind of corrective action.
LADIES AND GENTLEMEN WE HAVE A WINNER. The first person who has hinted at the fact that the reason stocks go up is because THEY'RE NOT DOLLARS. No matter, though. I'm sure BlueStreek made his $2k out-trading all of us in his paper options account.
Anyway, for the record, I called the top correctly for an intraday trade today, and it closed at the low.
Noddy... You were very close (was at 11:30), so you deserve a cookie! I SERIOUSLY did not expect a down day today. But I'm mostly positioned now to hold thru the holidays, so I'm happy. If it does go down this week, I think we'll have a much better January, because our 'correction' will be out of the way. Without that correction, Jan is going to stink, so I'd rather have the correction now than later.
Funny, I read recently that Rockefeller was a very good buddy of JPMorgan who was bragging at parties how he caused the 1929 crash by forcing margin calls all over. This is not a bubble by today's standards, not even close. Idiots like BlueStreek do not even have the brains to look up how stocks moved in the tech bubble or the late 1980s P/E bubble.