On May 5th Idea was the only thread that talked about 1430 as the target.. now if you go to search engine and print 1430 and look at full subject you would see that Idea is the thread that coins targets for the marekt like 440 on SOX, well ahead of the entire crowd.
Now levels once written are fortunately visited in between I keep commenting on daily chores of the market, however my bullish stance has been vindicated for last three years plus if you count my IBm long post and mSFT long post in 1996, I wish I could be less sure and tell different stories, I do listen to lot of bearish comments, I also listen to that 'bear thoughts' but the fact is I trust my numbers I trust my approach ,I put all that ICQ IQ and rubbish in the dust bin, I look at my charts every day, go against all conventional approaches and just by looking and tying up fundmentals, supports , MA's and trend lines publish my levels.
I have never ever written without description of why I think bounce is coming and where the bounce will come from, I have laways highlighted the underpinning of the markets and always I make sure to publish some small cheap chart, that is the kind trading I do. KISS....
That is what pits does and that is why I can hit great levels... from 900 to 1430 it is long story but my levels have been hit every day for last two year plus, I have commitment for next three to this thread, as I think we need to cover the market full five years to establish some kind of track record. We need to cover the fall very nicely too, the next test of supports, at 1720 Comp..not the 1310 we missed in Oct last.
I will tell you right now I have raised my level of support to 1364 as the first level to break as to give indication of 'break in the trend' how wasteful to talk aobut a break in an uptrending market, this is like bringing the market to you all collared ready to be slaughtered. No man, go and sell 'humburgers' instead of selling the arket, you may do tard better! Let the market do what it wants to do, let the market tell you that it wants to break so first is to break 1364, why are you so eager to catch the top in your eagerness that stems from guilt of losing this entire move up, you keep second guessing about the top and think that 1150 is too high and 1230 is too high and 1340 is too high you end up at 1430. Still trying to catch that elusive top, who are you trying to fool, no one else but your ownself. Ike sees it all played on SI every day the culprits are all well known but Ike keeps talking about that mentality of bear that has destroyed many a good posible investor material.
Now if 1363 is taken out, second would be 1328 and third and the last would be 1282.. now they call me my 'bullish approach' as infectious, but someone who calls 1430 on May 5 and have a target of 1530 .. will certainly like to see that his levels work.. Tighten your seat belts and enjoy the talks on 'threads of threads' as I always say 'who dares win' in 'consistency and approach ot the market... enjoy the posts.. and enjoy the confidence.
The markets loves Ike becasue 'Ike talks' to the markets and respect them, I don't sacrifice the markets on altar of my own super ego, my own lost opportunities, my own selg delusions of grandoisity so as to be known as the biggest bear in town. On your way to become the ''biggest bears'' you have become the ''laughing stocks of the pits'' they are known as ''lambs needing to willingly be slaughtered'' they come in a drove, they come from one side, we know them well, we take the market to minus four on a support short them and than break the resistance on the top in a single day move the are short like at 1385 they will only get out at 1405 as the marekt makes that false break traps them at the low, and bring htem to close the trade at as loss of 20 points. This is life of a bear in a bul market seeing it being brought back right up. For me these characters are pathetic self failures in market, they have missed the entire move imagine if we bulls stick with our positions at 1430 and market goes down to 750, I would just take a glass of water and try to drown myself!
Some of these ''evergreen bears'' are short callers from those levels..like 550..IBM at 50$ was even costly to them they thought the world is going to some to an end in 1996.. CSCO at 50 now at 10$ was being openely shorted by these very characters in 1997 when I started this thread. That is why I came with long CSCO call as my intro.
1000 $ programmes or a self invented foolish systems or attending a Jerry favors antiquated seminar may be good for some but markets forget it, you go to be free from all rubbish and keep an open analytical mind. These old techniques will elad you to from 'no where to no where' that gives sell or a bear note when every else is also shorting. Mine is an apporach that is more fundamental, I am able to read like you will see in this article the future currents on macro picture and define my micro strategy,, I do have than my eccentricities too, it is because of this I attract the bearish OF BEAR OF POSTERS TO MY THREAD,though they abuse me but still I think that markets are not about feeling and some nonsense paid technical charts. Lot of people I have seen going bust, market is about knowing facts and applying them correctly, from Nimitz in Gulf, to Clinton Monica to LTCM crisis and from 'ice age of deflation to inflation' my thread has stayed course, a reasonable one, that is what makes it so unique so interesting so cocky. It is not about hi bi it is about facts we go behind them like my note of drop cap utilization and industrial production, we try to see what others are missing.
I am a very much down to earth person in my life, in markets yes I am a bull and that takes A LOT OF GUTS.. I never follow the herd the herd does not like. I have punctured their attitude hot shot one, I am making markets looks simple not akin to 'theory of relativity'.. I take market out of 'Mike Douglas' kind cigar chewing, back -gelled hair traders too what is the real world the ordinary investor. I tell them you can do it, I tell them all this big charts are non-sense and all this hot shot sell or buy on their computers is nothing more than their misguided ego's. As the world shrinks so do will be ambition of millions who would like to make to the markets and my parting short to these self turned bears, if markets were so easy to be read by a 1000 $ programmes or money on SPU could be made by 100 $ per month paid programmes we would not had have so many paupers who lose every thing to the market. Respect the markets it is the biggest game in the world, rationalise them, if you cannot fundamentally organise info hard luck man, you are not cut for trading, the charts and TA is secondary first is to interpret it right, the consequence of an action should be rightly presented only than true systhesis will emerge like Warren Buffet. approach.
For consistency, much more is required than reading few charts it is specialised job you work hard you are paid well, you are not a specialist you will not make it, be a specialist in the art of markets. Like ant other job you need to read and learn and than apply your FA to the charts. This is where people fail.
Don't condemn Ike please, you missed it, is not his fault that market that you are shorting at 850 is sitting at 1430 on SPU, I did not take it up. I have seen a good person who is great in 'economic interpretation' but totally wasted to 'TA first regime' others would apply only TA and expect to project the future.
It is like projecting forecasts without knowing finance. Charts tell you half story all charts after a rocket like take- off will tell you time to back down, so what are you going to get is second guessing for last one month read the messages it would be that today was 'sell', now tomorrow may be stronger sell or day after it will be one day, but isnt it criminally negligent and most unprofessional to keep an attitude of try yuor luck if that is the standard I would rather bet my money on 'tossing coins' the probablity of returns are sure to be 50% loss or gain.
Atleast that every day chinese torture would be over, every day you wait and market climbs up the wall, who are you trying to fool. Are you trying to tell me that this is the new mantra to play markets to keep second guessing yourselve every day? Imagine I missing all this, I would rather be ashamed of myself than trying to put a spin, the spin doctors need taming of ego's. Cool them down. Market will do what it wants and right now above 1362 it is in solid bull trned. Until such time with BKX turnig above 898 I will be only a fool to think that market will break because I want it. Market will break to 1328 if DOT closes below 600 will break if BKX breaks this 889 area will break if PSE breaks now ISDEX 520 is a solid support.. Look at these supports trade them use them in conjunction together and you will see that you will be saved from all that whip saws..
All of this is putting cart ahead of donkey, first research than TA.. and an open mind.. and realization that we are living in a new world, very diffiuclt but most interesting.. |
