38 replies to this topic

[TechMan]

388 Nasdaq new highs today, according to the preliminary WSJ data, matched the high of 4/15/2010.

And, somehow the NDX managed to pick up a few points to close in positive territory today. That makes it only the 4th time since 1997 the NDX has ever had at least 9 consecutive up-days.

More later...

...twas just a small taste of whats coming.....

heres even a bigger taste.....

http://finance.yahoo...urce=undefined;

Didn't look like a "bigger taste" yet, from where I'm sitting...

[TechMan]

388 Nasdaq new highs today, according to the preliminary WSJ data, matched the high of 4/15/2010.

And, somehow the NDX managed to pick up a few points to close in positive territory today. That makes it only the 4th time since 1997 the NDX has ever had at least 9 consecutive up-days.

More later...

...twas just a small taste of whats coming.....

heres even a bigger taste.....

http://finance.yahoo...urce=undefined;

Also...

You're showing me a 30-year chart. A rental house I bought 30 years ago for less than $50,000 is now worth approx. $500,000. While that 1,000% appreciation is great for me, how does that help home buyers (traders) that are buying homes (trading) today?

After all, this is the forum called Traders Talk, not Buy-and-Holders Talk, isn't it?

[da_cheif]

388 Nasdaq new highs today, according to the preliminary WSJ data, matched the high of 4/15/2010.

And, somehow the NDX managed to pick up a few points to close in positive territory today. That makes it only the 4th time since 1997 the NDX has ever had at least 9 consecutive up-days.

More later...

...twas just a small taste of whats coming.....

heres even a bigger taste.....

http://finance.yahoo...urce=undefined;

Also...

You're showing me a 30-year chart. A rental house I bought 30 years ago for less than $50,000 is now worth approx. $500,000. While that 1,000% appreciation is great for me, how does that help home buyers (traders) that are buying homes (trading) today?

After all, this is the forum called Traders Talk, not Buy-and-Holders Talk, isn't it?

home buyers are traders:>????...where do you come up with this stuffl......those youngsters that buy a house for 500k now will have a house worth 3 million or more in the years ahead eh?........has anything changed???/.......so if you dont like the 30 year chart....try it for 13 years..........so sort term trade if thats what you want to do.......i trade......but i make a lot more money than my broker thats for sure.......unlike most.....,.,sic (traders) lol.....short term traders are being left hi and dry with these opening gaps eh......

[TechMan]

388 Nasdaq new highs today, according to the preliminary WSJ data, matched the high of 4/15/2010.

And, somehow the NDX managed to pick up a few points to close in positive territory today. That makes it only the 4th time since 1997 the NDX has ever had at least 9 consecutive up-days.

More later...

...twas just a small taste of whats coming.....

heres even a bigger taste.....

http://finance.yahoo...urce=undefined;

Also...

You're showing me a 30-year chart. A rental house I bought 30 years ago for less than $50,000 is now worth approx. $500,000. While that 1,000% appreciation is great for me, how does that help home buyers (traders) that are buying homes (trading) today?

After all, this is the forum called Traders Talk, not Buy-and-Holders Talk, isn't it?

home buyers are traders:>????...where do you come up with this stuffl......those youngsters that buy a house for 500k now will have a house worth 3 million or more in the years ahead eh?........has anything changed???/.......so if you dont like the 30 year chart....try it for 13 years..........so sort term trade if thats what you want to do.......i trade......but i make a lot more money than my broker thats for sure.......unlike most.....,.,sic (traders) lol.....short term traders are being left hi and dry with these opening gaps eh......

Home buyers aren't traders. You know that's not meant to be taken literally.

So, you do trade, not just buy and hold. I'm glad you're making more money than your broker. What have you been trading?

[da_cheif]

388 Nasdaq new highs today, according to the preliminary WSJ data, matched the high of 4/15/2010.

And, somehow the NDX managed to pick up a few points to close in positive territory today. That makes it only the 4th time since 1997 the NDX has ever had at least 9 consecutive up-days.

More later...

...twas just a small taste of whats coming.....

heres even a bigger taste.....

http://finance.yahoo...urce=undefined;

Also...

You're showing me a 30-year chart. A rental house I bought 30 years ago for less than $50,000 is now worth approx. $500,000. While that 1,000% appreciation is great for me, how does that help home buyers (traders) that are buying homes (trading) today?

After all, this is the forum called Traders Talk, not Buy-and-Holders Talk, isn't it?

home buyers are traders:>????...where do you come up with this stuffl......those youngsters that buy a house for 500k now will have a house worth 3 million or more in the years ahead eh?........has anything changed???/.......so if you dont like the 30 year chart....try it for 13 years..........so sort term trade if thats what you want to do.......i trade......but i make a lot more money than my broker thats for sure.......unlike most.....,.,sic (traders) lol.....short term traders are being left hi and dry with these opening gaps eh......

Home buyers aren't traders. You know that's not meant to be taken literally.

So, you do trade, not just buy and hold. I'm glad you're making more money than your broker. What have you been trading?

trade eminis......last entry was 1341 then 1558 on top of the 675 trade....all on my hotline....trade bonds last entry was short from 147.16....long gold silver copper......long russell 2000 2x strategy from march 09....take out half a number of times for the corrections...all..for the doctors n lawyers and others who want me to hold their hands....but arent interested in beating their brains out day trading

[TechMan]

trade eminis......last entry was 1341 then 1558 on top of the 675 trade....all on my hotline....trade bonds last entry was short from 147.16....long gold silver copper......long russell 2000 2x strategy from march 09....take out half a number of times for the corrections...all..for the doctors n lawyers and others who want me to hold their hands....but arent interested in beating their brains out day trading

When did you go long on gold/silver? They've had an inverse correlation with the stock market since November.

[NAV]

ewave= elliot wave?
have no idea, dont use it

But i do often look after ABC-patterns, and if my setup is correct, then the SPX 1560 low was A, and now we are close to top-B, before C-down. Same for Norway of course

The normal bullish pattern is a 3-4 week ABC-correction. And SPX has done such one.
But if this is a higher degree of correction, it was just the first phase.

We´ll see... first we need to see some signs of topping and breaking support.
My ~1month solar cycle i bearish, and today is new moon
And last weeks major geomagnetic storm projects a top just around today-tomorrow.

>ewave= elliot wave?have no idea, dont use it<.....to bad because without knowlege of it you will just spin your wheels.. ewave and fibinocci is what the floor traders, exchange insiders and the back rooms of the wire houses use.....allways have

The best traders trade the price trends. Not a single trader interviewed in Jack Shwager's market wizards has used e-wave as his primary tool.

[da_cheif]

ewave= elliot wave?
have no idea, dont use it

But i do often look after ABC-patterns, and if my setup is correct, then the SPX 1560 low was A, and now we are close to top-B, before C-down. Same for Norway of course

The normal bullish pattern is a 3-4 week ABC-correction. And SPX has done such one.
But if this is a higher degree of correction, it was just the first phase.

We´ll see... first we need to see some signs of topping and breaking support.
My ~1month solar cycle i bearish, and today is new moon
And last weeks major geomagnetic storm projects a top just around today-tomorrow.

>ewave= elliot wave?have no idea, dont use it<.....to bad because without knowlege of it you will just spin your wheels.. ewave and fibinocci is what the floor traders, exchange insiders and the back rooms of the wire houses use.....allways have

The best traders trade the price trends. Not a single trader interviewed in Jack Shwager's market wizards has used e-wave as his primary tool.

just goes to show ya......so called wizards dont know jack.... and the astute know it.....
Grossly Over Rated and Irrelevant for the New Millenium, January 28, 2007
By
H. Hong
This review is from: Market Wizards: Interviews With Top Traders (Wiley Trading) (Hardcover)
I really cannot understand why this book has earned its acclaimed classic status. It has little beyond the usual tired trading psychology:

- don't bet all your capital in one idea;
- cut your losses;
- follow the trend while it's good.

That's all - seriously, who still has not known about all these points, and for free?

Most of the interviews have not delved deep enough into how these traders analyze a trading idea, what frame work they use, why system, what data source they follow etc. Most of the time, I have to conclude that they did it by pure luck.

Here is an example.

"... I had a plan. I would wait until the market moved up to a certain level and then retracted by a specified amount before adding another unit..." How did he come up with the level? And why specified amount?? It reads terribly like he just got it off the charts!!!

Let's face it. If I am a big, profitable trader who is still making money off my supposedly ingenius trading system, would I want to publish it in a book and share it with the rest of the world?

There you have it. I would not want to waste your time or mine any more on this grossly over-rated book.

Edited by da_cheif, 08 July 2013 - 10:01 PM.

[NAV]

just goes to show ya......so called wizards dont know jack.... and the astute know it.....

Cheif,

You are hilarious.

Let's face it. If I am a big, profitable trader who is still making money off my supposedly ingenius trading system, would I want to publish it in a book and share it with the rest of the world?

None of the traders there have divulged their system. Why would they ? But most are based on simple principles of trend following. Simplicity is sneered upon in this business, as the vendors have a vested interest in promoting exotic methods.

e-wave/cycles/astro etc are over-rated and it's hard to find real-life examples of anyone who makes money out of these exotic methods.- except those who sell services based on it. Gosh, even someone who is wrong most of the time (Prechter) makes money out of e-wave, by selling his services.

cut your losses;
follow the trend while it's good.

Yes, that's all you need to be a profitable trader, albeit it's tired-oft-repeated cliche.

Edited by NAV, 09 July 2013 - 12:37 AM.