I always adjust. I think we will rally next week, but not this week. People are looking for that end of month rally to bail them out of their underwater longs, and its probably not going to happen. I expect a reprieve from selling tomorrow and then further selling on Friday.
Quote from marketcynic: I have no plans for compensation through payments or ad revenue. It helps my trading to put my thoughts in writing. That is what the forums are for. You are hindered in no way just because you cannot redirect traffic to your site. I also wanted to get some discussion going on my blog so I posted the link here. Why not just get discussion going on the forum, since that is the reason we are here. I won't put up the link any longer because I was told not to. Just pay the sponsorship fee, and that is not an issue. Every spammer "just wants to put their link here" As to to your post, that boils down to one wild guess is as good as another. There is absolutely no value or reason to raise discussion as to whether instrument X will go UP/DOWN by date Y. It is a completely worn out exercise on ET and the answer is, no one has a clue. Asking people to guess how many beans in the jar takes up space.
You said it all. Market should (IMHO) correct to at least 950 in the spx, however, the fed is there and they don't want this kind of prolonged downside movement. At the moment the fed still controls the market; eventually they will lose this "control" but I have not seen it yet
Isn't trading about making educated guesses? If no one had a clue, there would be no such thing as an "elite trader". I guess markets are random, hahahaha. You should read that book, A random walk down Wall Street. A good source of fuel when you run out of firewood.
It is about making trades, not querying the world about who believes what. That isa lot better piece of firewood than "Random Walk." For 98% of traders, their trading IS a random walk. They lose or gyrate for years hoping to prove themselves right. But they rarely do. There are already enough useless sites that ask and tally their audience "Will the market go up/down today?" And it has absolutely no benefit to trading.
If you need help, this guy is offering. He has no credentials or track record, but hey, who cares... http://www.elitetrader.com/vb/showthread.php?s=&threadid=180128
It's gonna go back up, but no where soon. We will need to push the market down lower to the point where everyone think it's gonna collapse for sure. Then and only then the market is going to violently shoot back up and make a new high. PA
I am waiting like a hawk for a good correction so I can add more to my long positions (on my long term portfolio) I think we still need do drop into the 900's
I've got the same view. This correction is going to last till December and then I think we violently shoot back up in January. Right now, the sentiment is still too bullish and we need to get more bears on board before we make another assault higher.