This is Healthy. Till when?

Discussion in 'Trading' started by Khaled187, Jul 26, 2007.

  1. Just like I stated on another thread, I was bullish all the way for a few month till today. When I saw the market down in the three digits before the open I had a gut feeling. I knew that now finaly all the bearish sentiments are gonna play out. I sold all my long position when the market was down 110-80 points. Shorted BSC FTO (wish I shorted more). Anyways, this is not just your normal down day. This is the real deal. This is the correction that some people have been talking about for a few month now. It is certainly healthy for the market. Sooner or later it was gonna happen. Now its here no escape from it.

    So a word to all the bulls (which i was one till today), please dont be stubborn. I mean this is not team cheering. This is a business. Your goal is to make money. Leave your arrogance and beliefs aside and get rid of your long positions, and short the market till the end of the correction. Then go long again. Dont take the bull/bear arguments thing too personal. Thats the beauty about being a trader, unlike a politician, you can change your "political party" whenever you want.

    Anyways my fellow traders, I know that a prediction is only an educated guess, but for the sake of "fun", where do you see the bottom of the correction at?

    A word to STOCK_T3DER: Nothing personal against you man, but please please please dont come in here and spoil this thread with buy recommendations and dip calling and all that crap stuff.