Broker/Data: Advantage, Trading Technologies, OptionsCity, IQ Feed
Favorite Futures: CL, NG
Posts: 1,040 since Jul 2010
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Well, what another interesting day. This looks like a potential reversal taking place in equities with another day of continuous selling. It appears equity investors might finally be realizing just how wrong "The Bernank" is after all.
What we are witnessing in today's markets will be discussed for years and years to come as one of the great blunders in central planning. The million dollar question is, how much longer can Bernanke take the heat? He's been proven time and time again wrong on all of his beliefs. How much more can not just the US but the world take from him? I can't wait to watch this all unfold.
Today we saw the USD make a new low of 76.765 before a small bounce. Meanwhile, precious metals and other commodities ripped way higher. All of this in the face of Bernanke's statement of subdued inflation? Come on!
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I'm still waiting to see who else is still short. I give tigertrader credit for sticking his neck out. But you have to remember, what he said was nothing but a "prediction". You won't be profitable trading that.
I hope you guys are understanding how the markets work now, and how to trade it. Stop listening to the news.
There will always be something wrong in our economy that we need to fix.
The last bull market, all they talked about was social security and how its gonna bankrupt our economy. Well, we managed to do that in 1 year, and markets are still going up. I really hope nobody was short during that whole time.
Watch volume, watch how price responds to volume. Check under the hood of the market( market leading stocks like appl, google.. etc and how they react). Watch the different sectors. yes its important, and they all matter.
When you realize that the markets are more complex and diverse than a bunch of moving averages crossing each other with oscillators, then trading is no longer impossible. Everything should be examined in context.
When the markets changes trends and goes down, i will be here telling you guys to go short, while everybody will probably buy because stocks are just too cheap....lol Can't tell you how many times i've heard that when the markets were crashing.
I've mentioned in another post that i will be reducing my time in this forum, but i still do check in once in a while, and this thread is sort of a personal hobby of mine. I like watching how people react( mostly in frustration if you read this thread, since the market is not agreeing with their personal opinions, which is why most lose money).
Keep up the posts.
Last edited by Michael.H; March 3rd, 2011 at 10:49 PM.
The following 2 users say Thank You to Michael.H for this post:
Of course, you conveniently neglected to mention that I was spot on about the market rallying from 1115 to 1250 and just about everything else in that post - very nice curve fitting. Granted that's not the point, but ironically...you are totally missing my point...see my post #163 on this thread.
BTW: I'm going to buy more puts, post unemployment volatility drain - bumping my position up to 5% of my risk capital, in spite of the fact you haven't told "us guys" it's O.K. to go short.
Last edited by tigertrader; March 4th, 2011 at 09:52 AM.
The following user says Thank You to tigertrader for this post:
Tiger you are not playing delta neutral/vol, right? So the puts are independent bets or are they a hedge?
It is not a trick question. I've been buying/writing stuff as well but the distinction between directional play and hedge has become blurred. That is not necessarily a good thing for me as I've been taught not to make money on hedges.