Missing The Point
205 replies to this topic
Posted 09 December 2002 - 05:35 PM
IM guides to the low end of the range. they sell everything under the tech sun. If they see things as "quite a bit weaker than we thought", then tech is weak.
Posted 09 December 2002 - 05:46 PM
To the bulls that sold and the shorts that did not cover and/or got more short...
Thank you for the birthday present!
Posted 09 December 2002 - 05:53 PM
Rog: thanks for the heads up on IM, I am still short cdwc, almost covered near the close, might sell some dec puts against the short in thea.m.
Posted 09 December 2002 - 06:01 PM
hey, we finally made a 90% downside volume day. Jeez, about time. Too bad its going to take weeks of these type days strung together to form a real fear bottom.
That 5 year H&S neckline is huge, once this thing lets go to the downside (we ain't seen nutt'n yet) it will even amaze us bears. I really don't think many are mentally prepared for what is about to go down. Will some of us jump off too soon thinking that it "can't go any lower", "we've had too many 90% downside days" ?
Its not going to be an easy ride. Think big, reeeally big. Prepare for the absurd.
Posted 09 December 2002 - 06:03 PM
I was away for a moment.. try this one
Posted 09 December 2002 - 06:33 PM
Damn it...had a detailed reply almost all written and damn stupid parrot walked on the keyboard and I lost the post. Not rewriting whole thing.
Basically.....I think you point is moot to daytraders. Your DMI/ADX, MACD, 4-8 EMA parameters seem to be directed towards a daily chart trader, while those strapping on dongs today were doing such for scalp trading (less than day trades). The scalp trades were being considered as positions most likely based on two main things.....all charts up to 60 minutes are Dover Sole and 1 through 5 minute charts showed positive divergences. If your daytrading and your going short on a 5 minute chart which is already Dover Sole and also when the 15, 30 and 60 is already Dover Sole, you got some rethinking to do.
You comment as "Most dong scalps are a waste of time & money now" ......Please tell me when did now start? When does now end? Has it ended? Remember, you said DONG SCALPS are a waste of time...which are typically daytrades. Just 12/6/02, Friday, looked like a nice day for some dong scalps, so did 12/5 and 12/4 so I assume "now" started just today.
Obviously, we live in two different worlds for our trading purposes.
Bottom line...bears won today. I got beat on day trade dong plays. No big deal, some days I win, some days I lose. Core shorts are fine and will not be covered until waaaaaaaaaayyyy down at THE BOTTOM.
Am not complaining about being beat today......I just think your comment was not properly prepared.
Let me add....I and probably many others wish they would have dong scalped UAL today for a 20% move. There is alway a good dong around somewhere, sometime. You just need to be able to find them.
Posted 09 December 2002 - 07:08 PM
Wyatt still holding ryvnx. Figure to make over a hunner't dollars today so he may crack that beer early tonight.
Ridin' the 10-13 wk cycle down and usually get outta my positions too quick but not this time. Gonna' stay on this ride all the way to the cycle bottom, til I get splashed at the end.
Y'all have a good 'un.
Posted 09 December 2002 - 07:17 PM
What happened to Stoolchat? Does such still exist? Can we daytraders open such up and chat real time so we dont have to keep hitting the refresh key like on IDS? Any chance of such occuring?
Never mind, I found Stoolchat. Am in stoolchat now....come to visit and chat.
Posted 09 December 2002 - 07:26 PM
It's still there. The link is in the menu at right.
See you in the Anals.
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Posted 09 December 2002 - 09:39 PM
Just trying to lend a helping hand without going into a full discourse thesis since my contributions are au gratis.
Of course, adjust the time periods to suit your trading cycle - jeez; however, remember that there are two general types of indicators, oscillator and trend. The ones I refer to are trend and they should always be considered by any trader. For instance, when trend is confirmed down Dover Sole oscillator type indicators ususally give false signals, and vice versa. Its easy to forget or lose site of your trend indicators while focusing on your shorter term oscillators. I learned this the hard way.
Just trying to help increase ones odds. Don't have to follow what I say unless you are into swimming upstream when you don't have to .
Best of luck (I mean this sincerely).
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