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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: ggersh who wrote (423391)3/12/2013 1:17:42 PM
From: Rarebird1 Recommendation  Read Replies (1) of 436258
 
Traders like people who are reckless, scornful and violent. Being a woman in spirit, the trader's heart goes out to a soldier.

Let me clarify. I am NOT a short term trader for a variety of reasons: 1) I earn a very good living, better than most traders with much less aggravation and tension. 2) I have a responsibility to humanity as I give away half my yearly income to medical research.

With that being said, if I was a trader I would be long the major indices (especially the Midcaps) till the trend changes. Buying the dips has worked and will continue to work till it doesn't work anymore. Whatever the reasons behind the rise, those reasons are still in place, for better or for worse. Traders don't play the ethics game; only outsiders do that. The function of a trader is to profit, plain and simple.

A substantial upside breakout of the 1570-1600 resistance range on the S&P, puts this market in full blown blow off mode.

I don't play the momentum game. I analyze markets from a risk/reward profile, using my proprietary measures and invest accordingly. At this point, my analysis points to the junior gold mining market as being extremely heavily slanted toward the reward side. But there are no promises short term, from the standpoint of the short term trader or momentum player. A retest of the most recent lows may or may not ensue. Some bottoms are V shaped, others are W shaped. There is absolutely no way of telling yet where the junior gold miners fit in here. It can even be argued that further new lows are coming. All of this is up in the air (at the moment). All I see is massive profits if one buys and holds on here intermediate term.
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