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ES and the Great POMO Rally
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ES and the Great POMO Rally

  #221 (permalink)
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Michael.H View Post
Im still here.. don't worry. I just don't understand what your calling a global meltdown when we've pulled back 3% after a 100% rally that you were shorting the entire time. You had 2 down weeks. Thats it. Im not rubbing anything in your faces, i just still don't understand why your shorting. You're even telling me that you don't know the strike price when it comes to trading options. None of the things you say help your case. Market comes down, you call it a meltdown. Market bounces, you blame it on bernake.
I can't upload .tiff extension on big mike, so i uploaded here with a chart.

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I've said this before and ill say it again, you CANNOT pick tops and bottoms trading this market, no matter how elegant your methodology is, no matter what time frame. The odds are toooo small, even with a big payout for you to be considered profitable. ASK any pro trader, and they will stand by me on this comment. You say you have other positions on, thats fine. But what your doing is something i've seen many times over and over again, and they all blew up their accounts.
Like i said, when volatility/volume increases and markets come down, i will short no matter how rosy the make the economy sound on CNBC.
I don't have time to watch this thread every day, but im here and i check in at least once every 2 weeks. Best of luck in your trading.

With all due respect, you're way off on your analysis with regards to volume and volatility. First of all, when a new trend starts, there isn't a huge spike in volume on a weekly chart interval. It takes time for the move to mature which is why we are seeing lower volume currently vs. your examples. If you look at when those example moves started, you will see that volume starts off lower and builds as the trend builds momentum. Today is only Tuesday and we're already at half the volume of last week essentially. The ATR typically starts small and obviously builds which is what is happening as well. I've attached a few charts to show you what I'm referring to.

Also, if you wait for confirmation of a trend change looking at a Weekly interval, you're getting in rather late IMO.

Attached Thumbnails
ES and the Great POMO Rally-es_weekly.jpg   ES and the Great POMO Rally-es_vol.jpg  
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  #222 (permalink)
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I have no problem getting in late. When the markets go down, you'll have plenty of opps to get in. Still too early to know if this is a new downtrend. Trend changes rarely occur as v shape reversals on an uptrend, its usually a process that takes a few weeks to even months.

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  #223 (permalink)
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Michael.H View Post
Im still here.. don't worry. I just don't understand what your calling a global meltdown when we've pulled back 3% after a 100% rally that you were shorting the entire time. You had 2 down weeks. Thats it. Im not rubbing anything in your faces, i just still don't understand why your shorting. You're even telling me that you don't know the strike price when it comes to trading options. None of the things you say help your case. Market comes down, you call it a meltdown. Market bounces, you blame it on bernake.
I can't upload .tiff extension on big mike, so i uploaded here with a chart.

ImageShack® - Online Photo and Video Hosting

I've said this before and ill say it again, you CANNOT pick tops and bottoms trading this market, no matter how elegant your methodology is, no matter what time frame. The odds are toooo small, even with a big payout for you to be considered profitable. ASK any pro trader, and they will stand by me on this comment. You say you have other positions on, thats fine. But what your doing is something i've seen many times over and over again, and they all blew up their accounts.
Like i said, when volatility/volume increases and markets come down, i will short no matter how rosy the make the economy sound on CNBC.
I don't have time to watch this thread every day, but im here and i check in at least once every 2 weeks. Best of luck in your trading.

Two things I'm pretty sure of:

1) You no very little about trading

2) You've never made money trading

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  #224 (permalink)
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Michael.H View Post
I have no problem getting in late. When the markets go down, you'll have plenty of opps to get in. Still too early to know if this is a new downtrend. Trend changes rarely occur as v shape reversals on an uptrend, its usually a process that takes a few weeks to even months.

I agree, there will be plenty of opps but I prefer to get in according to my criteria which has happened. This last leg up has mirrored 2007. Small range melt ups. When the game was up, look what happened. I could definitely see us chopping around a bit but ultimately, if the Fed stops QE, the game is truly done. When looking at the decimation of the USD, how much more can we possibly handle?

Cheers,
PB

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  #225 (permalink)
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"Two things I'm pretty sure of:

1) You no very little about trading

2) You've never made money trading"



OK buddy, whatever you say. I don't have the time going back and forth with you like elitetrader. I think i've established myself in this forum, and i've help lots of people well before you even joined.

You just keep doing whatever it is that your doing. Im gonna unsubscribe from this thread and put you on the ignore list, because its obvious that you can't talk, and have to resort to badgering to try to prove that you know something.

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  #226 (permalink)
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Michael.H View Post
"Two things I'm pretty sure of:

1) You no very little about trading

2) You've never made money trading"



OK buddy, whatever you say. I don't have the time going back and forth with you like elitetrader. I think i've established myself in this forum, and i've help lots of people well before you even joined.

You just keep doing whatever it is that your doing. Im gonna unsubscribe from this thread and put you on the ignore list, because its obvious that you can't talk, and have to resort to badgering to try to prove that you know something.


I agree. I don't think you need to get rude just because you don't agree with someone.

D

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  #227 (permalink)
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David_R View Post
I agree. I don't think you need to get rude just because you don't agree with someone.

D

I think people from Chicago have a little different view as to what is considered "rude", than those that live in the land of " fruit and nuts."

I guess I could be polite and apologize, but then I would be the hypocrite instead of David H. The guy not only distorts everything you write, but he is the first to jump all over your posts, to point out your "mistakes". And when you are blatantly correct, he can't find the humility within himself to be gracious, and admit you were right.

He is the one who lives to criticize and point out other people's "errors". The ironic part is, he has a myopic, simplistic view of trading that is totally out of context with today's markets, and should be the last person to criticize others.

I'm just being honest, when I say his knowledge of the markets and trading is limited. And I can pretty much guarantee you, just from how he talks about trading, that this guy has never made a dime in this business.


Last edited by tigertrader; March 15th, 2011 at 08:20 PM.
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  #228 (permalink)
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tigertrader View Post
I think people from Chicago have a little different view as to what is considered "rude", than those that live in the land of " fruit and nuts."

I guess I could be polite and apologize, but then I would be the hypocrite instead of David H. The guy not only distorts everything you write, but he is the first to jump all over your posts, to point out your "mistakes". And when you are blatantly correct, he can't find the humility within himself to be gracious, and admit you were right.

He is the one who lives to criticize and point out other peoples "errors". The ironic part is, he has a myopic, simplistic view of trading that is totally out of context with today's markets, and should be the last person to criticize others.

I'm just being honest, when I say his knowledge of the markets and trading is limited. And I can pretty much guarantee you, just from how he talks about trading, that this guy has never made a dime in this business.


This is exactly why I stopped posting in the forum. You have guys in here and my guess is 95% of them that don't trade with a cash account, but know everything. I'm tired of wasting my time with incompetent people who call themselves traders. I will from time to time add a few comments, but for the most part I'm a lurker. The thread that gives me the most laughs is the "Ten Thousand" thread where these guys want to see a pnl. Who cares who is profitable or not? What is important is do you think you can be a profitable trader? If you are basing your success on someone else success then forget it you won't be. Save your time and don't even think about trading for a business. Well, I'm getting off topic here, but wanted to vent this out. Watch! some moron is going to debate this post.

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  #229 (permalink)
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  #230 (permalink)
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tigertrader View Post
I think people from Chicago have a little different view as to what is considered "rude", than those that live in the land of " fruit and nuts."

I guess I could be polite and apologize, but then I would be the hypocrite instead of David H. The guy not only distorts everything you write, but he is the first to jump all over your posts, to point out your "mistakes". And when you are blatantly correct, he can't find the humility within himself to be gracious, and admit you were right.

He is the one who lives to criticize and point out other people's "errors". The ironic part is, he has a myopic, simplistic view of trading that is totally out of context with today's markets, and should be the last person to criticize others.

I'm just being honest, when I say his knowledge of the markets and trading is limited. And I can pretty much guarantee you, just from how he talks about trading, that this guy has never made a dime in this business.

I'm new to the thread so I'm not aware of the what transpired in the past, so I can understand if there is a history there.

I guess rude to the folks in chicago is if you break a knee cap, huh. That's a joke!

D

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