"local brokerage firm reports more buy than sell orders last friday"...as investors see another major opportunity to buy the dip.
From the majority, the long term investor prevails until history tells us otherwise, the gains remain and another blip on the screen goes unnoticed...from a micro level, after having dinner with long term investors last night, this is exactly their sentiment, even though they've seen damage to their account over the past month. Still, not worried about the noise in the channel.
from the minority, the trader preserves capital, with the fortunate few understanding the dynamics of trading both sides of the market, to trade the noise in the channel.
Time frames seem to be somewhat an issue here. With SI and more specifically MG, the focus in general is toward position/swingtrades, to take advantage of reversals, breakouts/downs, upgrades/downgrades, CNBC, even certain message boards under a collaborative effort...to hit and run...to not turn a trade into an investment...and perhaps most important, to work with specualtive bucks not needed to make the mortgage payment.
I remain toward the long side, to wait patietly for the intraday trigger, to wait patiently for a bounce in this bear market...to wait patiently until the charts finally makes since when it's turned upside down to give a try on the other side.
I sincerely wish the very best for all traders and/or investors...this market will come back...when??? maybe in a month, maybe years...
appreciation to all for the wisdom shared in these trying times... |
