Discussion in 'Chit Chat' started by tonyzhou, Dec 12, 2008.
no good news step in until market go down to 650
Next week can be brutal. In last 2 hours today there was significant volume and still no big gains in price, telling me that every buyer found seller.
Not a good sign IMHO
What freaking market were you watching today???
The SPYs' went out on the high of the day!
Sounds like you are "talking" your position . . . Good Luck with that.
I watched the market today. The shorts tried to panic, but at opening they were trampled by the Bulls. I mean totally destroyed. As the day wore on, the Bulls feasted on their days winnings, and the Bears were left with very little exit other than some losses. The Bears can try it again next week if they please. I am ready to buy, just like I did at the opening today. Tasty morsels as I continue to accumulate, awaiting the big upside breakout.
At this point, I am going on the record with the claim that you're either stocktrad3r, or you're just another teenager with an interest in the markets and no actual positions.
Did you ever explain to me how you could be buying the dips since October and yet claim to be up big time after this last up move? You said you had profits. Did you mean paper profits? And if so, can you confirm that you were doubling your position size on every average down (the only way you could be up already after the small up move we've seen)?
And if you're continuing to accumulate, how is that you've taken so much profit out? Wouldn't you have to hold on to your positions to be 'accumulating'? So which is it? You're accumulating or you moved out of the position into which you've been averaging down since October??
I said I was accumulating and I meant it. Profits are paper profits, but seriously all profits are paper profits until one dies - unless there is no investing going on at all.
I do not double up on each dip. I buy leveraged ETFs more on major lows than at highs. I keep bringing down my break even point, and have plenty of cash since I was totally in cash during the whole bear market (I tried shorting the market, but it was too stressful fighting the Feds), so if the shorts want to drive this market to new lows, I am prepared to keep buying, bringing down my break even point on each new low. Ultimately, when the market breaks to the upside, I will be in very good position to make a very tidy profit. This strategy is not for everyone, but it is working very well for me, and yes, as of today, I am doing very well, and I have been taking very little risk in the process - at least compared to the days that I was daytrading.
How would you measure a successful year in terms of % return. 15%, 30%, 50%. Give me a number, and I will let you know if I had a successful 2009.
All profits are paper profits, are they? Wrong.
So in fact you haven't made a cent. Anyone who thinks a paper profit represents 'making money' is... well, a teenager who has never traded a stock in his life.
This still does not explain how you could be up, whether on paper or in actual profit, if you had been averaging down since October 10th, unless you've been doubling or tripling yor position size on each successive average down. If you were buying the major dips, the market wouldn't be close to having you in a position where you could have 'made a ton.
Too bad we have access to the charts as well, isn't it?
Sorry for being harsh, but I call 'em like I see 'em, and I'm calling bullshit on you.
Fine. Call me whatever you want. Do you really think I care whether the money I make is in a bank or in my brokerage firm. You have a very weird idea of profits. However, by the end of next year, we will compare notes and we will see who made more money. OK?
Good for you, now Madoff you douche.
Ok, I'm calling you a bullshitter.
I notice that you're studiously avoiding the question about how you could possibly be up if you had bought every major dip since October without doubling or tripling your position size on each subsequent average down. The markets aren't near high enough to get you to even break-even, much less in a position where you have made a ton on paper.
That question kind of messes up your whole claim, doesn't it? Ah well... carry on with the paper trading. When you get real money on the line it will be a different story.
PS - Don't get me started on your view of the unions, which are partially responsible for the state of the U.S. auto industry.
Separate names with a comma.