Discussion in 'Trading' started by Alvin, Sep 1, 2009.
of crap this selloff !
who got their ass handed to them?
See the google spike at 9am?
I got out at the very top. Obv. I didn't know the big selloff was coming though...
Europe had already been hit hard. I was surprised the market opened as it did.
Not me. You always have to be ready to go with the trend when it starts moving strongly like it did today. Identify the condition, then just get in and hold until it triggers some lagging exit condition, like an MA crossover. Don't try to pick bottoms, you'll get killed.
Not to mention a smelly finger !
Definitely didn't expect this to happen, but the 10:00-1015est 15 min ES candle gave a good indication we'd be getting some kind of sell-off. Just couldn't believe christmas came this early !
I wasn't that surprised. We had a huge run up for a couple of months, and the market had been gyrating and battling in a widening range. Tons of divergences with other markets as well. Having said that, don't load up the board on shorts just yet. This could be a repeat of what happened in early July when we dipped down for a week or two and got everyone short before they nailed people to the wall. I'm playing it day by day - never predict, just follow the market!
sept is going to be a great month for the shorts!!!
is this the bottom today?
We have rallied for 6 months and we sell off for a couple hours. I guess it could be the bottom, who knows?
Maybe. If CNBC starts telling the dummies to buy the dips over the next few days, I'd agree with you.
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