36 replies to this topic

[ogm]

Considering the fact he wasn't looking for bounces and the market went straight DOWN.

I'd be listening very carefully now if he says he expects sharp bounces...

That simple.

So, he's changed his analysis overnight?

Should we all start looking for "very sharp" bounces now?

Sharp downtrends have sharp bounces. Thats a fact of life. If you ever traded a real downtrend you should be aware of that. And each of those bounces look like a start of a new bull market.
Like the ones we had before the elections where we had 2 wonder bounces in a row. Both failed miserably and fast. I don't remember you selling those bounces, I remember you turned them into IT uptrend. Thats when I started picking on you.

As Semi said.. ODDS of trading with the trend are much higher then trading against it.

My opinion is and remains that we are in a downtrend, and if you want to make real money you should be trading it like its a downtrend, and not pick up pennies in front of a steamroller. And you've correctly picked the top and then started picking up pennies, and what is even worse went completely against it. And I called you on that.

Now, please stop trashing Semi's thread.

[TechMan]

if you arent looking for bounces in this DT to add shorts on, you just arent a trend trader so no point in discussing it.

That's what I thought the strategy should've been. But he's now advising to look for "very sharp" bounces and to reduce short positions instead of adding, as you said.

[ogm]

if you arent looking for bounces in this DT to add shorts on, you just arent a trend trader so no point in discussing it.

That's what I thought the strategy should've been. But he's now advising to look for "very sharp" bounces and to reduce short positions instead of adding, as you said.

I'm not "advising" to "look for" anything. I'm just stating the fact of caution. You asked me why I'm taking profits, I answered and not for your sake but for the sake of those who want to make money in the market. I honestly don't care if you do or not. I have enough kids at home to deal with already.

Edited by ogm, 09 November 2012 - 09:45 AM.

[SemiBizz]

TM spends so much time worrying about who's right here I don't see how he has any time left for trading. I don't give a )&*&$% who is right, I just want to make money. This is counterproductive, all this arguing and trying to figure out "who called it". Whatever... About as productive as betting on countertrends. You could do more for this board TM by just expressing your opinions instead of constantly trying to pick fights with the membership.

[TechMan]

Like the ones we had before the elections where we had 2 wonder bounces in a row. Both failed miserably and fast. I don't remember you selling those bounces, I remember you turned them into IT uptrend. Thats when I started picking on you.

Just to clarify,

(1) my IT term is 1-10 days. The market did go up until day #8. And, yes, I wasn't expecting that big post-election selloff. So, I was wrong about the past two days.

(2) Your "picking" started when I was just cautioning to "look both ways before crossing" after having met all of my downside targets. You said your wife calls you a bully.

Edited by TechMan, 09 November 2012 - 09:51 AM.

[TechMan]

TM spends so much time worrying about who's right here I don't see how he has any time left for trading.

I actually don't care whether I'm right or wrong. That's why I stuck my neck out all the time.

You could do more for this board TM by just expressing your opinions instead of constantly trying to pick fights with the membership.

I didn't pick this fight. I wasn't the one started this.

[SemiBizz]

Doesn't matter who picks the fight, you are always in it. Rise above it.

[TechMan]

Doesn't matter who picks the fight, you are always in it.

Rise above it.

That's just it. Trouble always finds me :=) even when I thought I was just minding my own business posting away and sharing my technical observation with other traders.

Edited by TechMan, 09 November 2012 - 10:23 AM.

[Data]

Well, there's an obvious falling wedge that looks complete or nearly so. A pullback should be expected.

[SemiBizz]

I'm watching XAU...

http://bigcharts.mar...&mocktick=1.gif

Edited by SemiBizz, 09 November 2012 - 11:01 AM.