Bop, I am a day trader when the market forces me to, not as an "avocation". As I have stated many time, this market has, IMTO, entered a lengthy period in which it will be bound in a trading range (I have 6000 to 13500 on the Dow and 1400 to 5300 on the Naz). LTBH will be successful only in very well selected stocks, and even then stop losses are recommended. I have posted a list of 10 such stock in December, some of them were stopped out, some I have taken profits (AAPL twice already), but these are far from being "day trading" positions. One of them, AGM has just made an all time high today (this one is one I suggest holding for 10 years).
If the word "reactionary" means reacting to the market, I'll accept this dubbing, but it is not the traditional meaning of the word is "Opposing progress and liberalism", being a libertarian myself, your tag did not sit well with me. If the former meaning is the one you meant, what is wrong with being playable, listening to what the market is trying to tell you and act accordingly. Such an approach kept me out of the market through the whole February/March massacre (an event that the turnips very accurately forecasted long long ago), then when recognizing that 1900 will not be the end of the massacre, going back to the turnips for a new number (1638), and that one was within 10/15 of the actual low in early April, where I jumped back in with both barrels loaded. That is the kind of reactionary action I actually like. Sure, after the fed surprise move in mid April, I once more moved to the side line, fearing a reaction to 1850 or so, but being flexible, when I saw the NYSE tick go to 1200 plus, and the Naz refusing to yield to the morning swoon even by lunch goers (and few other indicators), I listened to the market and changed my opinion. I thought these discussions were not about characterizing posters, but discussing their strategies and learning from each other's strategies.
Zeev |
