This sorta reminds me of last October - November. The crude oil futures rallied to $40.00 a barrel in fear of war. This is typical market fashion. The way I see it is that today the market decided to run down ahead of tommorow so that there can be a "Sympathy Rally" tommorow. I expect much buying between tommorow and Monday. Heres why: The bond market has based and it now in recovery off the recent lows. Interest rates should continue to improve in the mortgage arena leading into the end of this year. Today in the ES we completed a 38.2% Fib retracement and got withen a couple of ticks of a 50% retracement off the recent highs. Tommorow should be a good day for a rally! If I'm wrong (and I'm wrong ALOT!) then there could still be some selling pressure until we hit the 61.8% Fib retracement @ the 1002.00 level.
Well good. Then you'll be shorting the stocks I was short today, and made a killing on. You'll be selling the stocks I'm buying back, at a big profit. Thanks for being a day late. And don't tell me about a "traders" board. I've made more great "trading" calls on this board then anyone around here. Period.
Talk about emotional baggage! I had clients short the ES @ 1245.75 almost 2 weeks prior to 9/11/2001. My firm panic and made us Brokers liquidate our positions and forbade us from initiating new ones!!!!! Talk about stupid!!!! Trust me I'll be in tommorow if by the time I finish tommorows report I have a signal...........you betcha I'll trade & trade HARD!!! LONG OR SHORT!
nothing unusual about tomorrow. bin laden tape my ass. even if something happens, nothing really changes. today was a PERFECT opportunity for me to do some short covering, so thanks to all who sold it. peace, -b
You sound as if you were the only one shorting today. And I could care less about your calls. -FastTrader
Boy this is a hornet's nest of a topic but I'll try and give another perspective. Trading is a business, and long term success is based on many things, some of which include mastering one's emotions, taking the right side of a trade (trend following or otherwise), and managing risk. 9/11 changed my perspective on alot of things, and it will have a lasting impact on my views in many regards, especially risk management. With these things in mind, my opinion is still that this is a business, I'm a charitable and compassionate person personally, but one cannot afford to demonstrate these qualities in actual trading. This is the last bastion of capitalism, very few rules (although unfortunatly the SEC is trying to regulate like always after a big market blowup, instead of pre-emptively), lots of pitfalls, tons of risk, and an unbelievable amount of opportunity. Emotion, feelings, patriotism, whatever, it just does not compute. I cannot stress that point enough, if you trade for a living, it is simply kill or be killed. It's dirty, and it is simply not for everyone (or almost anyone). The sacrifices a trader makes for the opportunities afforded to him or her may seem ludicrous, cruel, and possibly even criminal to an outsider, but I for one love this profession like no other. Goodluck, -TD80
You "could care less" about my great calls, b/c you want to lose money with your own ideas. You want nothing to do with good ideas.
You confirm your own ignorance by posts like this. I highly doubt anyone here bases their actual trades on your trading calls. -FastTrader