Doug and All Gemmers..
suffice it to say that all of us have suffered "real loses" in our long and short(trading) accts...
some will never recover, others will...the mind games that the street plays with the public is a sham..and a shame too, but this noise is what i try to ignore...
if we stick to the game plan..trade the charts, and try to not be so biased like me<g>....we should do fine here...
what goes up at ridiculous speed, comes down at the same pace today...when everything looks rosey, slam goes the market, and visa versa...
things look very bleak out there....well, lets just sit tight..no rush...watch and wait...trade the good stuff..the big cap techs...the nice stodgy Drug stocks like PFE-MRK-AHP...
the major corp's are not going out of biz...
i can say from expierence...in the so called Crash of 1987...which was minor compared to this lastest selloff...
it was a precursor to a very horrible recession...i fully believe we are witnessing the very same alert, right here and now..
the markets are a leading indicator...what with rates rising, this economy will slow, and so will corp profits...
the perception will change...someone on another thread said sentiment has changed to me...he was right...
what i am saying is this..i feel AG might stand aside here, come May FOMC....if he contiues to raise rates 1-2 more times..we will be in serious trouble...
he won't be able to orchestrate that so called soft landing..i said this 1-2 days ago....it will be hard & fast, awful for us all...
but....as traders..we can and should make money both ways..Lee has shown remarkable insight all thru this selloff...and so has Jenna...playing the short side...
i stood aside from that...played the long side a bit...
i am mostly in cash..except for 2 positions now...CRA-KLIC...i don't know if either will hold up, but i own May calls...
we could continue this selloff on MON..and maybe not..but world markets usually follow Wall Streets lead...
the question is how far we travel down, before we reverse back up here..earnings season is here...steller numbers will flow in to bolster the markets...
but....and this is a big but...if the markets percieve a slowing economy ahead...earnings may not mean anything to stock prices..in fact, they may sell that news even harder...they look ahead 6 months...and down that road may not look so rosey...so tread very carefully going forward..
i feel no matter what anyone has lost in trading capital, we can and will make it back...either long or short..
everyone has to learn to trade both ways..if you can buy em', you can sell em' too..it's really very easy...and profitable...
P&F helps on both sides of the street...triple tops and bottoms work...you witnessed QCOM's break of 120 on Fri...a nice short there would have made good dollars...
we'll help each and every one of you learn to make money in any market...up or down...
cliche as this sounds.." don't fight the FED", and the "trend is your firned"..why fight these two?????
don't force anything...sit on your hands...let's make some money back from the depths..we can..and will do it...
everyone learn candles...get real time charts and quotes..if your gonna be a trader, then get the tools to help you make this money...
tune out the noise...stop reading all the pundits, the guru's....trade the charts only...
watch the futures...very important...learn what the S&P's are saying..or the E-mini..same thing really...
it seems that almost every indicator went haywire last week...why??? because of where we are at this time and space in the markets...we move in days what used to be months even years...
now hang tough...gather some cash..sell those dogs with fleas, because wishing and hoping them back up ain't gonna get it folks...
take the capital..and start fresh..trading 100 share lots at a time..using stops..a must...
heck if we buy something for X dollars and it moves 2-3 points..whats the matter with making $200-300 bucks per trade???? or per day????..maybe you trade 200 shares or 500 shares or 1000 shares..it does not matter...do what makes you feel comfortable...so you can SLEEP nites...
if your tossing and turning..your in way TOO heavy..lighten up your total dollars..and begin again...be smart, be quick...take profits sooner rather than later...who cares where a stock goes too, as long as you made money on the trade..
heck there are a thousand trades each and every day...the markets are here every day as well...you miss one?? so what...forget the woulda-shoulda's & coulda's...
trade like you know how too...short term profits lead to big time gains...and i'm not talking about scalping for 1/4's and 1/8sth either...i won't do that...if the trade is not there..forget about it...
anyway..just some musing on this rainy day in Philly...this thread has some very astute traders here..solid people...
we can and will help everyone who wants help...i trade the markets for a living...this is how i put food on my table and pay my bills...
if this is what you do too..then get in the trenches...and get very serious...there's very big dollars to be made in this market...very BIG...
good luck ...OJ |
