Member
Posted 03 September 2018 - 08:42 PM
ST flat, buy long entry stop @ SPX 2905.2
IT short, exit short stop @ SPX 2908
Rested, fresh, and ready to go again!
Here we are at the start of the most exciting seasonal period of the trading year. My forecast is lower to flat for most of September & October and then a rollicking rally all the way to the January effect. But, all this can change very qucikly.
All I ask for is many big range days with lots of volatility, up or down, long or short, just need good range to day trade.
Member
Posted 03 September 2018 - 08:46 PM
[Facetious. Sarcasm Alert]
Pullbacks are a thing of the past, get long and buy the highs. We can only go up. Perhaps a bit facetious on my part, but that is the general sentiment propagated. “Buy every dip”, “don’t wait for a dip” and above all: “Don’t sell“.
https://northmantrad...02/lying-highs/
Member
Posted 03 September 2018 - 10:23 PM
[Facetious. Sarcasm Alert]
Pullbacks are a thing of the past, get long and buy the highs. We can only go up. Perhaps a bit facetious on my part, but that is the general sentiment propagated. “Buy every dip”, “don’t wait for a dip” and above all: “Don’t sell“.
In a trending market, you buy the dip. That's what the smart traders do. So what is his point ? Fight the tape, because by his measures the market is overextended ? Being sarcastic is easy. But what does a trader do ? Short and lose money ? Or sit and watch the paint dry ?
Northman, Hussman - all these guys have analyst mindsets. They lack the trader's mindset and instincts.
Member
Posted 04 September 2018 - 11:30 AM
Northman, Hussman - all these guys have analyst mindsets. They lack the trader's mindset and instincts.
yeah, stock prices have reached what looks like a permanently high plateau... LOL
Disclosure: heavily short from 2909 SPX. Time will tell.
Member
Posted 04 September 2018 - 02:11 PM
yeah, stock prices have reached what looks like a permanently high plateau
Nah !
There will come a time to short this market. But, not right now. Unless, you love picking pennies in front of a steamroller.
