took out my telescope

Discussion in 'Trading' started by mikeenday, Mar 10, 2011.

  1. mikeenday

    mikeenday Guest

    and look up in the sky,
    every sign indicates today is the bottom.
    and should be profitable for purchasing several SPY calls.
  2. This is called "Buy the f* dip". Honestly, I dislike this 101 Herd approach, but this is the only workable strategy in this bubble ben market

    I just load up calls in SPY and QQQQ
  3. Please give exact strike, maturity and price so that we can all watch those calls going to zero.
  4. Yep. I bought the dip also.
  5. Agreed, it is a juicy and free money from bubble ben.
  6. Yes, I totally agree with the free money from Bubble Ben. But what I trade off on is dips to the 50 Day MA and my set up trigger. A good example was buying AAPL today.
  7. mikeenday

    mikeenday Guest

    today bought some LVS March 39 call @ 1.01, so far so good.
    guess Monday is a gap up open.

  8. lol!! Love the thread. The sky is full of useful information isn't it? :)
  9. mikeenday

    mikeenday Guest

    as long as you know when to jump the ship, you can initiate your position by looking at the sky, or read the tea leaf.


  10. It is always interesting to read what detractors reply to posts on ET. Few have ever asked any of us what made us take on a trade. They just blast away and jeer at us.

    I am not calling for a big move up or a big move down. I don’t call markets. Though I do monitor markets and trade with a probable trend I calculate.

    Conditions yesterday were calling for multiple swing trades on the dip that has worked well for me in the last 20 years. So I took the swing trades that met my plan and executed them today. I can’t complain so far today. For example I got most of AAPL ‘s move today, the market is up nice and so are 4 out of 6 of my trades. All I want is a piece of the swings on this dip and on average to be profitable.

    May be Monday is a slam dunk reversal back down and I get stopped out and take some nasty losses. So what? This is a trade in my plan that has worked great for me over the years. So I trade the plan because if I don’t I learned many years ago I never will succeed and I will drive myself crazy trying to second guess each trade.

    We could be heading lower. I don’t know. But what I do know is to trade when my plan tells me to, take the losses if I have to or quit and get the hell out of trading. It is that cut and dry.
    #10     Mar 11, 2011