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Handicapped heroics


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#31 Bungster

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Posted 16 March 2012 - 02:12 PM

SPX weekly Bollinger bands top at 1420

spx_wkly.png
"It's tough to make predictions, especially about the future" Yogi Berra
"If you believe people are rational beings, you will go through life frustrated and confused" Scott Adams
"Don't dig the dialog of denial"
"No, I don't know that atheists should be considered as citizens, nor should they be considered as patriots. This is one nation under God." George W. Bush

#32 Bungster

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Posted 16 March 2012 - 02:14 PM

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... :(
"It's tough to make predictions, especially about the future" Yogi Berra
"If you believe people are rational beings, you will go through life frustrated and confused" Scott Adams
"Don't dig the dialog of denial"
"No, I don't know that atheists should be considered as citizens, nor should they be considered as patriots. This is one nation under God." George W. Bush

#33 Bungster

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Posted 16 March 2012 - 02:15 PM

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

1. Hold nose and buy...

nose_hold.jpg
"It's tough to make predictions, especially about the future" Yogi Berra
"If you believe people are rational beings, you will go through life frustrated and confused" Scott Adams
"Don't dig the dialog of denial"
"No, I don't know that atheists should be considered as citizens, nor should they be considered as patriots. This is one nation under God." George W. Bush

#34 zero_value

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Posted 16 March 2012 - 02:48 PM

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....

#35 Trader Joe

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Posted 16 March 2012 - 02:54 PM

What the f**k is that?

[img]http://l.yimg.com/bt/api/res/1.2/k8A4KzNdTix3YBNJFg91fw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTE0MztxPTg1O3c9MTkw/http://globalfinance.zenfs.com/images/US_AHTTP_REUTERS_ORTAI_WRAPPER_H_LIVE/2012-03-16T164601Z_5_CBRE82F08XM00_RTROPTP_3_APPLE-IPAD_original.jpg[/img]

#36 zero_value

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Posted 16 March 2012 - 03:00 PM

What the f**k is that?

[img]http://l.yimg.com/bt/api/res/1.2/k8A4KzNdTix3YBNJFg91fw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTE0MztxPTg1O3c9MTkw/http://globalfinance.zenfs.com/images/US_AHTTP_REUTERS_ORTAI_WRAPPER_H_LIVE/2012-03-16T164601Z_5_CBRE82F08XM00_RTROPTP_3_APPLE-IPAD_original.jpg[/img]


Is Isaac Newton still alive?

#37 MisFit Kid

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Posted 16 March 2012 - 03:14 PM

What the f**k is that?

[img]http://l.yimg.com/bt/api/res/1.2/k8A4KzNdTix3YBNJFg91fw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTE0MztxPTg1O3c9MTkw/http://globalfinance.zenfs.com/images/US_AHTTP_REUTERS_ORTAI_WRAPPER_H_LIVE/2012-03-16T164601Z_5_CBRE82F08XM00_RTROPTP_3_APPLE-IPAD_original.jpg[/img]


A Happy FoxConn worker?
"It is easier to stay out than to get out" - M. Twain

"Ars fit ubi a teneris crimen condiscitur annis" - Ovid

#38 I_Am_Madness

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Posted 16 March 2012 - 03:30 PM

Can't recall the last time SPY closed 4 straight days above the BB. :unsure:

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Stop the Madness

#39 I_Am_Madness

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Posted 16 March 2012 - 03:57 PM

Sorry..posted this on M2M.

Posted Today, 08:40 AM
Long GC at 1649...

Stop below 1635.


http://www.capitalst...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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Stop the Madness

#40 Bungster

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Posted 16 March 2012 - 04:33 PM

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:
"It's tough to make predictions, especially about the future" Yogi Berra
"If you believe people are rational beings, you will go through life frustrated and confused" Scott Adams
"Don't dig the dialog of denial"
"No, I don't know that atheists should be considered as citizens, nor should they be considered as patriots. This is one nation under God." George W. Bush





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