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.
