longOnUranus Posted February 6, 2003 Report Share Posted February 6, 2003 Glad - beautiful verse. I think about money in reference to providing my children with a better life (through education and teaching them about investments). Some of us do it for greed - but greed is, for most people, the result of a desire to DO things, not OWN things. So in a sense, greed is good. There are so many levels of thought above greed (and fear), such as creativity, productivity, love, godliness, etc., that obsessing at this lower level, while not necessarily "bad", certainly falls short of how one can maximuze the value of his/her own life. Link to comment Share on other sites More sharing options...
machinehead Posted February 6, 2003 Report Share Posted February 6, 2003 Whoa! Dow busted out of fibrillation range on the upside. Link to comment Share on other sites More sharing options...
MrHanky Posted February 6, 2003 Report Share Posted February 6, 2003 900 tick and 37 points in 7 minutes there damn good ,huh? Link to comment Share on other sites More sharing options...
Mr. Beal Posted February 6, 2003 Report Share Posted February 6, 2003 Glad, It?s so true. As it turns out about 30 minutes ago I powered down the trading machine and told myself go take the dog for a walk have a bagel - chill. This is going to take some time to unfold. I also admit to adding significantly o my stress by being in violation of my money management trading limits. I'm trying to get a bunch of lost winnings back here, I'm way over leveraged. My rational is not all opportunities are created equal. Doc's post a little while back reminded me of a trading story I read once. The old man (head of a large self-made commodities firm) and a young failed trader but 'good technician' were watching the market using the technical tools the young man developed. He says to the old man as the wheat market is falling it will find support here. The old man say's "really?.... "Bullshit? He old man picks up the phone and yells ?sell 2 million bushels at the market?. Obviously, the market falls like a rock through support. It only takes one participant to make you wrong. Thanks everyone for the support! Beal Link to comment Share on other sites More sharing options...
Guest Posted February 6, 2003 Report Share Posted February 6, 2003 .. Link to comment Share on other sites More sharing options...
PileDriver Posted February 6, 2003 Report Share Posted February 6, 2003 Yawn, wake me up when we finally hit bottom Link to comment Share on other sites More sharing options...
soup Posted February 6, 2003 Report Share Posted February 6, 2003 did rog say that lehman trade ( sale of 300000 puts) was mkt neutral? Link to comment Share on other sites More sharing options...
DrStool Posted February 6, 2003 Report Share Posted February 6, 2003 greed is, for most people, the result of a desire to DO things, not OWN things. So in a sense, greed is good. Sounds like a movie. Greed is its own motivation, and is a negative one. I don't think greed is a motivation to "do things" for most people. Greedy people are generally acquisitve, mean spirited, and motivated by a need to accumulate and hold on to things. True riches can only be achieved by letting go, by giving. What you give always comes back multiplied. I do this because I love it. That's not greed. I think that is true for most of us. We love the challenge of the game. Others are addicts, and should stop before they hurt themselves and those they love. Link to comment Share on other sites More sharing options...
PileDriver Posted February 6, 2003 Report Share Posted February 6, 2003 Mr Beal, one of my trading rules based on making that mistake 15 yrs ago in the options market: Don't Rush (the market or yourself) This includes rushing to "win-back" a loss. You will lose more. Link to comment Share on other sites More sharing options...
Goldmember Posted February 6, 2003 Report Share Posted February 6, 2003 QQQ's: Three Different Kinds 20 minute delay Link to comment Share on other sites More sharing options...
Metamucil Posted February 6, 2003 Report Share Posted February 6, 2003 Another fake wedge....QQQ money flow and dmi+ not confirming... 15 min swup it is SPY 15 min Link to comment Share on other sites More sharing options...
sniff Posted February 6, 2003 Report Share Posted February 6, 2003 which short term fib ranges are we watching? on the QQQ. 5 min. chart. I am currently watching for a 1.27% retrace. Seems a stretch for today, maybe tomorrow. I have a short term butterfly completion near 23.59...... this would be percieved as short term bullish by bulls, then *if*, bounce will recalculate. I will scale out 1/3 short pos. if it hits...... this is figured on this mornings low and could change on a fresh low and bounce....the high is 25.13, not expecting that to be taken out.... just trying to fight off boredom.... Link to comment Share on other sites More sharing options...
machinehead Posted February 6, 2003 Report Share Posted February 6, 2003 soup - rog said the big sale of puts was "delta neutral" as a result of shorting QQQs. To my understanding, delta neutrality only holds at a particular level. If the QQQs start rising, they have to buy back some of those shorts to preserve delta neutrality. If QQQ crashes, they need to sell more. It's a positive feedback mechanism either way ... the position holder is forced to chase the market. Link to comment Share on other sites More sharing options...
BigWave Posted February 6, 2003 Report Share Posted February 6, 2003 Glad, Amidst all the angst, your messages are comforting and enlightening. Tanks for being here. Link to comment Share on other sites More sharing options...
mjkst27 Posted February 6, 2003 Report Share Posted February 6, 2003 From the Prudent Bear board, regarding the QQQ puts: http://www.prudentbear.com/bearschat/bbs_r...1&snsa=A#M86996 good explanation for simpletons like me Link to comment Share on other sites More sharing options...
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