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Seriously ATG, why so defensive? I never attacked you...why do you feel like you need to be insulting. Yes, you did post about your RUT, but that was after I asked you about your leverage. All you mentioned before was your 3x short bear trade which could not possibly have been green this morning. And BTW, kudos on your call, because in the end, the market did end down for the day. Apparently Bernanke gave some hints later in the day, again, about potentially slowing down QE. We all know that's nonsense.
How was TZA green when the market was up today? Yes it's green now because the market faded. But you said you were in the green when the dow was up over 100.
Timestamp from AllMyGlitter. The market has reversed today. Let's revisit in a week or two.
How can you have a leveraged short trade (you said you were expecting a down day today) and be in the green? Please post some specifics.
My point is that people keep coming on the board making down predictions and continue to play the short side during one of the greatest bull runs of all time. It baffles my mind. There will come a great time to short this market. That time is not here yet.
Surprised yet?
This pattern has been happening over and over for ages now.
- Some of the hawkish fed pres come out with hawkish comments.
- Market and more importantly the media panic of QE end
- Bernanke comes out and re-affirms strong support for continues QE
- Market marches forward.
Is there anything unclear about this? Why are there still traders here wanting to play the downside...amazing.
Out of all of those times, which ones had similar levels of Fed QE?
Touche on that one!
Touche on that one!
That's all good and well that you learned from following the sector way back when. And I can certainly respect anyone that's been shorting the sector recently. I just don't understand the pre-occupation with trying to make money off these going long. It certainly isn't non-emotional trading strategy.
If there's no emotion then why do so many folks here keep looking at the miners? I would submit that is purely emotion driven.
Well they didn't ask me, but yes, I do believe if you want to make money there are much better options then gold right now. Of course this may change in the future. But what I was really refering to was the miners which have been underperforming by all accounts.
Not a chance. They seem to come out with this about once a month. I don't know what they're trying to accomplish by putting out this kind of information but I really doubt anyone believes it.
They're the ugly half sister high on meth. More trash.
Point is why you keep looking at gold miners...they ugly. Sounds like you're trying to force yourself to love em. Why not move on to something a little more lovable?
HD, I'm pretty sure me and you are the only ones playing the market on the upside. Most of the bears here have strong, engrained ideological beliefs that keep them that way so don't expect that to change nor use it as any kind of barometer. When CNBC and all their guests start gushing about this time being different, and girl that cuts your hair telling you about how much she's making in the stock market, then you'll know the end is close.
Why ya even lookin' at Rosie O'Donnell when you can have Megan Fox?
LOL. True.
Actually there are a lot of bears...part of the reason this dang market still keeps going up.
Because it's always the same, we know what to do. Just keep buying until it doesn't work anymore. And then don't try to talk yourself out of getting out because you DO think it's different.
This has been a simple market for years now. It's not rocket science.
Just keep buying until the iceberg hits. Then just make sure to get on a life raft...easy peasy.
Took your advice and just dumped all my shares. Seems to be fading through out the day. I think the pop is short term and looks like it's on announcement of 2 new board members so won't be surprised to see it all fade eventually.
Ironically they have a downgrade by the street.com today. Making me nervous otherwise I'd probably hold on for a couple of days.
That sounds pretty darn good. You must be somewhere warm. Rainy out here and the wife don't allow cigars in the house.
If you are happy with your current returns, that's great and all that matters. But any buying in gold in the last 2 years on pullbacks or not is a net loser. It's wonderful that you have such a low cost basis because you got in early. But don't you think it is a little ironic that when we have the most screaming about inflation and money printing these last 2 years, gold has wiped out the last 2 years of gains?
Investing in gold and PMs you may as well have shorting and have certainly missed a lot of opportunity. Anyone that has been dollar cost averaging into gold for the last 2 years is underwater.
Where's that emoticon of the guy banging his head on the wall.
I'm sorry we'll just have to agree to disagree.
I've been following this board since its inception and I've seen so many folks let their idealogy dictate their trading—thus shorting over the past few years. This is nothing short of finacially disasterous. In the best case scenarios it has been a huge missed opportunity to have made a great deal of many. For what? Waiting for that armagedon to finally occur? Heaven's Gate and Hale Bopp comet? LOL. It's doubful many of those folks will ever recover. One who thinks they know what will happen in the market rather than simply following it, is a basic, remedial mistake. I recall in 1997-2000 there were prolific amounts of disasterous preditions. The traders that were shorting then lost their azz. The traders that were long and deluded themselves into believing this time is different, lost their azz. The traders that simply followed the market were the most successful.
I used to follow a successful trader in a trading room who's idealogy was the same as many here. However, unlike those who are unable to seperate their feelings from reality, he was able to trade with the trend and always adivsed his members of this very basic principle. Funny thing is, there were alway some members who were unable to do it and eventually blew up. His service was something like $200.00/month and worth every penny what I learned. I'm passing that info here, do with it what you wish.
Do I believe the time to pay the piper will come? Of course. And when it does, it will be another time that offers great opportunity to make money. But I'm not sitting around waiting for it, but rather simply making hay while the sun is shining where I'm at.
PWE has a terrible chart. I heard someone talking about it a few weeks ago pumping it because there was a lot of options activity. I thought no way am I touching this, its going down even more. Sure enough it crashed. That's when I pounced on it and got in under 9. And yes it's got a huge dividend. Not sure how long I will hold on to it. I hardly ever enter any trade anymore chasing after it. Though I did make an exception with MNST here (and of course I'm a little underwater) because it looks like it's setting up for another run.
You are funny. Timing is everything.
I've been long, but sold off some during the pullback expecting it was the start of a new intermediate downtrend. I got back into some more longs last week. Bought back MNST, and bought some GE, PWE, and some more RMCF. See what happens.
Don't know what your sayin'. Right now the rich uncle is NOT creating jobs. And some argue that only adds to the viscous cycle of poor economy and more monetary easing. The fiscal conservatives may be correct in theory, but austerity is just going to drag out this thing for years.
And you can keep shouting this and most traders still won't get it. Trading on what you believe should happen is a losing game.
and we all know the only jobs created are by gov. spending nothing else
This is just out and out false. There have been no jobs created by the government in over a year. Just look at the monthly jobs reports, government jobs are actually disappearing and gov spending has been down. Don't get fooled by media hype, just look at the facts.
But to your point, the situation is even worse than it appears, because private sector jobs growth is weak while the public sector is losing jobs.
But if she gives a sell signal, WATCH OUT! Remember in March of 2000 when she gave a sell signal, she single handedly popped the bubble right at the peak when she told people to cut back on stocks. It was probably the only time she's been anything close to bearish.
My T trade and thinking was posted starting here. As far as the rest, my general strategy for the longest time has been to buy sold off stocks in an uptrend that have been sold off because of some temporary or overblown news. Usually at or below the 50dma. It has been working exceptionally well.
I have to say last weeks selloff was a major head fake for me. I sold off some shares and got rid of all of my YUM (big mistake up over 7% today), sold all of my TOT (they have been ripping upward after I got in on the bottom), LULU (locked in some nice profits after buying on butt scare, wish I would have held), MNST (another one I bought in and out a couple of times on the scares and also dumped--sheesh). My only redeeming trade was loading up on T and dumping it before earnings yesterday. Getting hit hard today but the dust will settle in the next day or two and will be back in.
Nice!