To:ds
From:sb
Wednesday, Jan 13 1999 10:24AM ET
Reply # of 3943
<<< Don, how long will the bear market last >>>
Hello Iqbal,
Thought I'd post this to show the sentiment on most SI threads this morning. Instead of seeing a trading opportunity, most were panicky and selling. Professional traders love to see this, for it represents one of the most lucrative day-trading situations. Learned along time ago those "tails" on the chart's represent pure fear or greed in the highest sense.
Glad to hear you made out well on your puts. This market is beginning to see some holes, but it will be hard to take down anytime soon. Inflows are very strong, and earnings are coming in well IMO. Bulls are fully in control as evidenced by today's rally.
Today's action conveyed to me the need to have tight stops, as volatility can bring you to your knees. I like your philosophy of shifting strikes to minimize risk. My work suggests that we are higher into April, with a tradable rally on any dip back to 50ema.
Good to see such clear minds prevailing on "IDEA"! It's so apparent to see the "groupthink" mentality prevailing on most SI threads. Many of the self-proclaimed gurus on SI showed their true colors again this morning by announcing the end of the bull. I've never seen such myopic behavior in all my life. How do these guys stay in business when they fight the trend with such might? Thank goodness SI has no margin calls! I hope many lurker's have found a home here and seen that "IDEA" has no pre-conceived notions. Your work along with the rest of the thread is so enlightening in a world of Jerry Favors'!
Did you see where big internets were down-graded after the bell? Question for you is do you see this money shifting to big-cap techs, of dispersed more equally between RUT---------LRG Cap's? I'm sticking to my assertion that RUT will lead this market higher this year! Bears need to look at the charts of ATML,WDC,CRUS,LRCX,QNTM,AFLX,IFMX,DIMD,IDTI and hundreds of others! Classic example is DLGC. Owned heavily by Kopp, PE is 10.....trading at significant discount to market and group! Even better is the chart... just broke out last week and pulled back to support on low-volume the last few days, Chart at bottom!
This market will be so beautiful when it broadens! Bears won't know what hit them. Then again, trading on SI is easier on the pocket-book <ggggggggg>
Be Good,
Kevin
clearstation.com |
