I'm short MERQE from 29.90 btw covered 50% @ 29.30 for 2% Gain Any more comments about the market going down? hahaha silence silence silence.. If you are the betting man, you can say right now what the market will do. I say continuanation downtrend. What do you say
Frankly I don't get it. Are you supposed to get an award for getting it right today? I do this on a regular basis, no one gives me applause for doing my job. You on the other hand expect what? a bouquet? Maybe getting it right one day IS a big deal for you. Congratulations on getting it right today. WOW... Amazing isn't it, this guy called the market correctly TODAY... I have no idea how he did it. Does anyone know how he did it. I am going to write my congressman and ask that he put in some legislation to set aside this day as THE DAY COOLWHIP GOT IT RIGHT. A day of national celebration No postal delivery today folks, No banking, No work for any of us A national holiday on Par with Lincoln's birthday, Martin Luther King Day, Thanksgiving and Christmas rolled into one. Excuse me, I have to go to the store to buy supplies for the holiday. What you didn't know? ITs COOLWHIP DAY........... YAY, YAY, YAY, WEEE,,,,,, BOO YAH......YEAH BABY....KEEP EM COMING......OUR SAVIOR.....KING OF THE TRADERS.....LORD OF THE limousines.....EMPEROR OF THE ECONOMY....... EDIT: Having said that, you do deserve some congratulations. congratulations.. Steve
I didn't think it was big deal really, except for our after the fact traders EQTRDR PEKELO had to be pointing out things espically 10 minutes before the fall If they bothered to look at the price action right when they were about to post around 10:00, they would know the market was in a serious exhaustion jump 5 minutes away from a huge drop confirmed by volume. MERQE 29.90 -> 29.02 <b>+3% .88 cents </b> Covered 20% more. , now down to 30% left. I told you I Was going to short large. You naming it a coolwhip holiday is starting to make me think differently though. Thinking of getting my face printed on a dollar bill as well now...
See now you have the right idea. Lemonade out of lemons. First of all, you are right about the time frame. If they had watched at 10am EST, they would have seen the indexes fail. Specifically the ES led the others down today. Also the cash markets gave us an early warning. But before that you had a number of warnings including an early down move that saw buyers get swamped repeatedly. Here is one of my charts. You can see where the buyers came in to try to mark it up, and they failed. Have to give it to you (if you are talking about this) you are right. and when you are right, you're right. Steve
Hey, I give credit where credit is due. We are going by your pre-Christmas prediction and so far you are half-right. The day sure didn't start out as you predicted, and as far as I recall there was no post from you around 10 am that you are going heavy short. THAT would have given you more points in my book. I was short from 10 but only for 10 points. The day still hasn't ended so we shall see....
You folks can argue about it all you want. Statistically this market is done for the day, and so am I. by the way, for me, this is when I look at risk/reward. I characterize this market as having the big percentage of its volatility early, then fizzling out. Why then would I be continuing to stay in, if the prospects for additional profit are (relatively low). I don't. What I try to do is call the open and make money early. If the early range is less than 10 points, I may elect to stay in the game. If not, I am out of here, preserving the profits that I did capture early, or with as small a loss as possible. Either way, I will come back to fight another day, because I didn't give it back in the afternoon, in what is often a choppy market full of false breakouts. Good luck Steve