Kid Posted March 8, 2003 Report Share Posted March 8, 2003 Simple Guy, Driver and Thor-thank you! There are far, far too many delusional scared Bears on this board. For those that are stay in cash and WATCH-you will be SAFE! For people like CoBoy-you have been talking for a week about going long if you believe it-DO IT! Now Mark you refer to this as a do nothing week-EXCUSE ME-last friday DOW CLOSE-7891.08-today-7740.03-COMP-last Friday1337.52-today-1305.29-SPX-last Friday-841.15-today-828.89-NDX-last Friday-1009.74-today 986.82. If you had simply shorted last Friday and held you would be sitting on a pot of money. Todays downdraft at the open was a result of the world markets getting creamed overnite-ours was primed and ready to fall off the cliff when the news flash said "Osama Bin Ladens sons arrested" and the weak bears immediately rolled over stuck their asses in the air and said "rape me". Well you know what it was only a RUMOUR and at the end of the day NOTHING HAPPENED the markets hit first resistance and croaked. But it does show how desparate DA BOYZ are they are cornered and they know it. Last night one of the posters said "since the markets are tanking they'll probably bring Osama out of the deep freeze to save the day" Little did he know how right he would be. My stop was lowered yesterday from 853 to 841 and it didn't even come close-still 100% short-this puppy is far,far from the bottom. To calm your nerves go back to the second week in January note the top and you will see that every single week since then has been down, down, down etc. this is an opportunity you may never see in your lifetime if you don't let the lies,jams, squeezes etc. reduce you to a whimpering hulk. Myself and many others on this board are having a great year a KA CHING year because we control our emotions, use intelligent stops and stay the course. Trade Safe! B4 I love it! Still short and expecting more downside. If not, my profits are locked in and it will be another KA CHING week of profits. Link to comment Share on other sites More sharing options...
coboy Posted March 8, 2003 Report Share Posted March 8, 2003 SAFE! For people like CoBoy-you have been talking for a week about going long if you believe it-DO IT! First, I am LONG humility.. I know I am the smallest fish and I don't know anything.. I am here just to learn.. I shorted YHOO on the day it is included in S&P at 310.. I was damn right ! (Eventually !) Being right wasn't enough to stay alive though.. My impression is, most people are suffering, heck even pros are leaving the business and people probably don't wanna hear "stay short all the time" motto.. Everybody is selecting the information source to support his/her own position, anyway.. I don't think rubbing it in people's faces how someone is KHA-CHING'in everyday (by mostly scalping in the money SPX calls !) is a good karma, either.. I bought CYMI and ERTS calls today, finally I feel better.. Whatever works for you ! Peace.. Link to comment Share on other sites More sharing options...
DrStool Posted March 8, 2003 Report Share Posted March 8, 2003 Today was nothing more than a bunch of horseshit speculation on whether one of Binny's kids had been captured or not. Every time a new news report popped up, the market reversed. Even the AM selloff was overdone hype on newsnoise, breaking way outside cycle channels. The cycles had the 8 day cycle low pegged at 816 and they got to 810. It wasn't a reversal day. It was nothing. Meaningless noise. The problem that a lot of people are having is perceptual. A whole lot of people are scared to death that this is some kind of big bottom. Problem is, the market is in yet another huge top. Not a bottom, a top. That's why it's acting this way. It's called distribution. It's what Wall Street does. Yes it's hard to trade. But it's going nowhere. I'll be looking over the charts tomorrow AM and publishing the Anals around mid-day. I doubt that anything has changed, since the market followed the cycle expectations today almost perfectly, but if anything has changed, I'll let you know. Throw Mark some coin, people! Link to comment Share on other sites More sharing options...
Hypertiger Posted March 8, 2003 Report Share Posted March 8, 2003 Milk, milk, milk... Smash and grab economics... I would like to babble on about today but what is the point? If you got burned WTF? on IDS is said Dec was the time to go short and Piledriver posted his shortfolio somewhere... Lets say it's returned 5%... Well that's more than a ditch digger gets as a return on his savings per freakin year... Me? I'm stacking silver... But yes saying "waterfall" is a bit much, hell we've been in waterfall mode since 2000 for crying out loud... when is wild cornered animal stage going to happen? who cares? because when it does go down it will be every man woman and child for themselves... Notice the MoGauge and the credit cards are spiking? the ditch diggers are living on credit until the recovery... Little does the ditch digger know that there is not going to be a recovery until they are buried in final ditch they dig... Unless some weird event takes place the house of cards has at most 13-18 months to go...maximum. So you might as well buy silver and gold now before you miss out... Link to comment Share on other sites More sharing options...
PileDriver Posted March 8, 2003 Report Share Posted March 8, 2003 Oh yeah, Doc's cycle work is ABSOLUTELY BRILLIANT too! If you want to hear senseless unfounded bullish talk then listen to Crapvision, they'll be more than glad to spoon-feed you whatever you need to lure you into the sucker pit. If you want the truth and hard cold facts of what is really going on.. Subscribe to the Anal's, I do and I'm cleaning up! Link to comment Share on other sites More sharing options...
brian4 Posted March 8, 2003 Report Share Posted March 8, 2003 Coboy- I agree peace! If I offended you that was not my intention-everyone here as Greg stated trades their own plan. As to going long that is up to the individual but at this stage of the market to go long you are bucking the trend. As To KaCHING heck I will never apologise for making money in the market-that is why we are all here-I have learned a lot from the people on this board and I think they have learned some from me when you KaChing I'll be happy for you as I am for every other stoolie-Good Luck- CHiefy-that was a hell of a good call! Trade Safe! Link to comment Share on other sites More sharing options...
PileDriver Posted March 8, 2003 Report Share Posted March 8, 2003 Brian is right if you are not KA-CHINGing then you are doing something wrong. Follow the main trend, ignore the daily crap like Adam Hamilton said and don't be a greedy meat-head and even a monkey could make money in this bear market. Set realistic rate-of-return expectations. Go for the kill and get killed. Link to comment Share on other sites More sharing options...
Guest AssMaster Posted March 8, 2003 Report Share Posted March 8, 2003 I wonder if this economy can rebound in any way until a critical mass of individuals essentially opt out of the market, take their remaining cash and start some sort of productive enterprise which actually creates something of value? With large corporations valued at insane PEs, it would seem to be better to wager on your self rather than some overpaid CEO to blow your money, ruin your retirement, and either lay you off, export your job to India or import a replacement H1B worker. Until that point, the US economy is wingohockingmoyamensinged. That, of course, ignores those who will need to pull money out of the market for food, gas, etc. Or those who just give up on it because they are tired of it going down. Link to comment Share on other sites More sharing options...
Guest Posted March 8, 2003 Report Share Posted March 8, 2003 FWIW John Murphy was just on NBR and says we are approaching a near term bottom. I will post the link tomorrow when they put the interview on the NBR site. That's okay isn't it Doc? Link to comment Share on other sites More sharing options...
wrecked him Posted March 8, 2003 Report Share Posted March 8, 2003 FWIW John Murphy was just on NBR and says we are approaching a near term bottom. I will post the link tomorrow when they put the interview on the NBR site. That's okay isn't it Doc? He's right. It's called the October lows. Regards WH Link to comment Share on other sites More sharing options...
Kid Posted March 8, 2003 Report Share Posted March 8, 2003 Today was nothing more than a bunch of *@*(^%speculation on whether one of Binny's kids had been captured or not. Every time a new news report popped up, the market reversed. Even the AM selloff was overdone hype on newsnoise, breaking way outside cycle channels. The cycles had the 8 day cycle low pegged at 816 and they got to 810. It wasn't a reversal day. It was nothing. Meaningless noise. The problem that a lot of people are having is perceptual. A whole lot of people are scared to death that this is some kind of big bottom. Problem is, the market is in yet another huge top. Not a bottom, a top. That's why it's acting this way. It's called distribution. It's what Wall Street does. Yes it's hard to trade. But it's going nowhere. Doc Great call. That's why I trade naked options for most trades. Even with all the sideways churning the options decay in value over time so that the profits appear. Perhaps not instantly, but over time. The problem with most traders that I observe is the desire for instant overnight $$. During a distribution period it takes longer, but when the markets drop the bigger profits come quickly. Keep up the good work. Link to comment Share on other sites More sharing options...
Guest Posted March 8, 2003 Report Share Posted March 8, 2003 FWIW John Murphy was just on NBR and says we are approaching a near term bottom. I will post the link tomorrow when they put the interview on the NBR site. That's okay isn't it Doc? He's right. It's called the October lows. Regards WH I know nothing about Murphy -- just another face on the tube, so if anyone has an opinion, let her rip. Link to comment Share on other sites More sharing options...
phatbubble Posted March 8, 2003 Report Share Posted March 8, 2003 fokker - beautifully said. your gratitude speaks volumes about where you are as a person and trader. WH - you have, of course, solved the universe with your fractal self-similar elliotts. but sssht i won't tell. ima blather about the plunge protection team for a second. 'PPT' is turning up in about every fourth post, and seems to be becoming shorthand for 'any upmove that cost us money'. now, i regard regular and significant intervention in the financial markets as a stone fact, but i'm wary of it getting a life of its own. just because a 'large unidentified trader' regularly throws a hand grenade of buy orders into the futures pit at critical junctures doesn't mean a troop of government-cloned elves is going to prance across the exchange floor sprinkling Magic Ass Dust which will somehow end the bear market and zero out our accounts. a sure way to lose is to repeatedly energize the thoughtform that just as profits are within our grasp, the PPT is going to turn up and snatch them away. the props, jams, and bogus/timed news need to be taken as a part of the landscape, or else we'll all go bugshit with frustration and disgust. trade them, step aside, be prepared to ride them out, bust into an intervention song like the japanese apparently do - whatever. the bear trend is intact, and has a long way to go....unless the plug gets pulled on the whole thing, and in that case we'll have larger concerns anyway. Link to comment Share on other sites More sharing options...
wrecked him Posted March 8, 2003 Report Share Posted March 8, 2003 WH - you have, of course, solved the universe with your fractal self-similar elliotts. but sssht i won't tell. You better not. I know where to find you during the day. Regards WH Link to comment Share on other sites More sharing options...
Cassandra Posted March 8, 2003 Report Share Posted March 8, 2003 Now that Jim Cramer has called the top in gold by recommending a buy, I suppose we can expect to see $330/oz. before the next rally attempt. The financial pundits keep telling us we need a capitulation before the market can move higher. Of course, they mean a capitulation by the bulls. I guess they expect all the longs to call their brokers at the same time and say, "Screw this, sell everything and send me a check." On the other hand the capitulation could be from the bears who are getting tired of waiting for the drop that never comes. The bears may just say, "Screw this, let me buy something." Interesting today that the economic news couldn't have been worse, yet Da Boyz manage to close the averages on the plus side. Link to comment Share on other sites More sharing options...
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