Pokersam ...
I thought you put RCKS and me (and others) on ignore.
A small correction to your comment ... my comment to Qone0 (which you are replying to) didn't say the market is going up or down. I also didn't say anything about there not being a correction in the near future. I just pointed out that it has been difficult for the Bears to assume too much about the market when some markets reach prices that some think are distinctive psychological levels. In other words: thinking too much and trying to be an expert in psychology can get traders in trouble. In fact, I don't know any trader that made more than a fraction of what an investor would have made if he simply bought the market 13 months ago and just sat on his hands the rest of the time (even during the corrections).
I only made that comment (you refer to) because some on this board enter trades based on where they think the market is headed tomorrow or the next day or whatever. I've seen that that doesn't work all that well. My method, and I think Trend1's, is based on current mathematically-determined trends and OB/OS conditions. That way we don't have to think too hard.
As far as the current trend is concerned, it is up on both SMA(50) and SMA(10), and I have entered four different long trades (in four stocks in different sectors) since April 1st (and I have not been concerned about selling any of them today). I also don't have any short positions now, nor do I have any hedges.
I measure trend direction in much the same way as does Trend1 -- with indicators incorporating moving price averages and also using Adv-Dec lines. Because of the averaging process, it takes a while for those indicators to change direction. That is good, as it keeps me from being whipped around, and my historical studies show that I make a lot more if I stay with the trend until it changes, or until some unpredictable extreme event happens. A market selling off 100 points in one day is normally not one of those events.
Otherwise ... I hope your trades are doing well; and, of course, you can do them any way you like. Just try not to gloat when you are right, and make excuses when you are wrong.
AI
