I like Mark because he makes calls and also trades. He does not pretend that he has a holy grail.
The Top is NOT in...
Posted 10 November 2017 - 12:31 PM
Thinking you've got the "holy grail" is one of the better ways to wipe out a trading account. It's not as good as refusing to admit you're wrong, but it's close!
One of the most valuable (and difficult for me) things that I've learned is to accept -- no, EMBRACE -- that you're going to be wrong. When you focus on what you're going to do (or not do) when you're wrong, you'll be surprised at how many times you can make money despite being wrong. This is important. Why? Because, as many of us can attest, it's amazing how many times you can either lose or not make any money despite "being right".
I like NAV because he's smart.
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Posted 10 November 2017 - 12:33 PM
I know it's a little early to claim the top is in as a top usually formed with double or triple attempts. Next week is the OpEx week for the month that is usually bullish. The market could make new highs or retest the recent highs, especially if the House gets the tax bill passed, that was scheduled to vote next week.
Posted 10 November 2017 - 12:47 PM
it's amazing how many times you can either lose or not make any money despite "being right".
Did that little man on my shoulders tell you how good I am at that?
Posted 10 November 2017 - 02:54 PM
chances are that we topped already
Looks like it. But there are only a few worthwhile tops that have been put in without the FF's being fairly heavily short. I mean, since we began polling 15 years ago.
This isn't a prediction of a massive rally, only that the recent highs will almost assuredly be seen again and within a few days. It might not go any higher than that or it might.
I agree, new highs probably by Monday I'm thinking, above 2600 likely
Posted 10 November 2017 - 03:15 PM
Dude trained on my shoulder!
So it's your fault that I cancelled multiple short orders at ES 2585.5 shortly before going to bed last night.....orders that had been up for over five hours.......targets that looked so easy since they had traded all night just below. And it's your fault that I moved the orders up a bit and DIDN'T get filled a few minutes later (like I would have otherwise). And it's your fault that I didn't wake up to multiple four figure profits in just a few hours. At least I feel better now that I can be mad at you instead of kicking myself around!