it's a good way to put it. does not mean we should go straight down. but an upside is limited since there is not enough fear to form a meaningful bottom.
You said the sentiment is WAY TOO Bullish. I don't understand why there is more downside near term. Did you mean they are way too bearish?
i am taking a contrarian point of view. the bottom forms when everyone is too bearish. this is why the markets tend to overshoot to the downside and quickly reverse. because once everyone is way too bearish (no more new sellers left), any uplift creates a short covering and a huge rally.
Thanks. Nah, I kinda wish that was thecase but it's not. My current job makes up about 60-70% of it. This has just been a fun hobby for years. But I am profitable which is nice. But for the amount of money it's kind of worthless I'm a finance major who can't graduate until I get an internship. here's more on my situation. Obviously that thread turned out similar to this. It's why I can't take ET seriously. http://www.elitetrader.com/vb/showthread.php?s=&threadid=148873
Well I'm dead wrong. System is fucked. Well-deserved too. As for my part. My hedges should keep me even(hopefully). ILMN puts still moving up and AMZN needs to tank (gonna maybe add a few more here). This fall should be pretty big. It's gonna take out the big stops IMO. Well done guys on the short side. You deserve it and there's more to come for ya. Now how do I turn this crummy boat around A good one is sallie mae. It's toast http://www.elitetrader.com/vb/showthread.php?s=&threadid=134767&highlight=SLM
1.) you don't trade full time. on another thread you said you started with $800 and are up 130% on the year for 08? yeah, you're not a full time trader. 2.) you could have been doing it for 60 years but it doesn't mean anything if you've only been profitable for the last 2 months. 3.) in a bear market apparently you're going to get eaten alive. you don't even recognize this is a bear market, incredible. they always talk about the last sucker at the table. i'm glad there are a few left.
==================== Agree the silver/related '' isn't in a bear market'' [nice up-trend]; DIA, SPY has been/is in a bear trend, still is is premarket today . And still strange, it is not ''climate change'' ======================== looks like'' climate same ''in some places. Dust bowl in 1930's. Drought declaration in CA, drought in 7 counties in TN; 1988 drought started in fall/winter of 1987.
March-02 Update: Now we are getting somewhere as far as the extreme pessimism goes (but still SOMEWHAT extreme only it seems). SPY -4.5%, VIX +14% ~53, call/put 1.07