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aussiebear

Handicapped heroics

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SPX weekly Bollinger bands top at 1420

 

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I can understand people picking their spots and trying to short things here and there. What I find incomprehensible is people who have been fighting the tape and the central banks all the way up. This has been a classic cyclical bull, rising on central bank liquidity pumping. That's the way it has always worked. The Fed attempts to pump liquidity into a weak economy. Stocks rise. There's nothing incomprehensible about that. It has only worked that way since time immemorial. Or at least since 1913. The only difference today is that the Fed is no longer the only pit boss. It's not even the biggest.

 

"Don't fight the tape. Don't fight the pit bosses." I would only add to that, unless you are an experienced professional trader "Don't try to be a hero." By that I mean, don't try to pick the exact top.

 

Later!

 

I can personally attest to the validity of that statement. Shorting does not seem profitable in the current environment... :(

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In this environment the following is the best course of action:

 

1. Hold nose and buy...

 

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There is absolutely NO movement no longer a"free" market (never really was) but now this is a freaking joke, total an absolute price control....

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Sorry..posted this on M2M.

 

Posted Today, 08:40 AM

Long GC at 1649...

 

Stop below 1635.

 

 

http://www.capitalstool.com/forums/index.php?showtopic=11511

 

Exited at 1659.20 for +10.

I'll take what i can get.

 

GDX going to close below 50 which is a very bad sign. We'll see if it can bounce and get back above 51-52 next week.

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Exited at 1659.20 for +10.

I'll take what i can get.

 

GDX going to close below 50 which is a very bad sign. We'll see if it can bounce and get back above 51-52 next week.

 

Who says you can't get blood from a turnip! Well done Madness... :rolleyes:

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