today is shaping up to be a down day but lets look and see how today may be different from the previous few weeks. hong kong sold off dramatically citi bank expects write downs to be much worse,similar to what happened to merril. now the sreet will start to re eveluate other banks thinking the others are much worse as well. in fact CIBC just came out and said Citi's numbers "don't add up" and expect much more downside. bill gross just came out and said the banks are in trouble; people do listen to him. technically we are vroken from thursdays sell off and today may be another BIG leg down.
Thanks for the heads up!!!!!!!!!!! To me, this day doesn't look any different than any other in the last couple months.
I'm short but let's put things in perspective. The market has yet to even take out Friday's afternoon lows.
No offense but I'll let the mkt decide what it wants to do and I'll trade accordingly and I'll let all of the noobs and pikers listen to CNBC and try and guess what will happen.
SEE, if you were biased off the open and were only thinking sell, you missed some nice UP moves. I have no clue where the market will end up but I DONT HAVE TO KNOW. As long as it moves, I will find trades, both long and short. But I certainly dont listen to any idiots on tv about whats going on. I can see it for myself on my screens.
Cocaine: so how do you pick your trades? do you percieve some sort of "momentum?" do you look at the trading book? how do you know the stock won't turn on a dime a second after you get in? just curious. lots of guys brag about the few trades that happened to go the direction they planned, but don't really have a legitimate method for anticipating the trading direction. not trying to be a dick or anything, just saying...