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#31 pdx5

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Posted 13 December 2008 - 04:14 PM

All good posts here. I have been saying it here for a long time.....nothing good can come out of borrowing to buy "stuff" for consumption. That movie is playing right now before our eyes.
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#32 Tor

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Posted 13 December 2008 - 04:28 PM

The problme with the likes of cheiftan, are that it is actually differen this time. I know crazy to say. US citizens need to get used to a differnt standard of living.
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#33 Kimston

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Posted 13 December 2008 - 04:44 PM

Then there's a parade of this mentality on CNBC: http://www.cnbc.com/...60490615&play=1

With very few exceptions (like Bob Farrel), this "bargain basement" talk was not the psychology at the 82 lows and certainly wasn't what you heard after the 87 crash.

We can rally or not, but THE lows won't come until the masses want nothing to do with the market, bulletin boards like TT become inactive, and CNBC goes off the air due to lack of interest/viewers.

Kimston.

#34 salsabob

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Posted 13 December 2008 - 09:18 PM

From Bronson; a few weeks old but still looks relevant - maybe. ;)

Posted Image
John Galt shrugged, outsourced to Red China and opened a hedge fund for unregulated securitized credit derivatives.

If the world didn't suck, wouldn't we all just fly off?

#35 OEXCHAOS

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Posted 14 December 2008 - 01:15 PM

seems right: ugh oh...........


The AAII which measures retail investors shows a similar effect with the bulls at 37.50% and the bears at 39.84%. This is a much larger move to optimism than the newsletter editors. Basically the AAII sentiment is equal - which from a contrarian point of view isn't good news. Rather than seeing further reluctance from investors and traders to believe in the market as it rises, we are seeing them jump aboard with itchy trigger fingers.


Do you have any data on the Bearishness or Bullishness of net flat AAII reading?

Basically, the market was up that entire polling period.

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#36 thespookyone

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Posted 14 December 2008 - 03:29 PM

"You're probably right. My track record this year has sucked. But I continue to believe that the more persistent I am about getting my money back, the more successful I will be. Think and grow rich. So stop raining on my parade and I assure you that this time, I will make $ and make up all my losses. " DC-Always like your posts, was just busting balls-BUT-If you plan on making up losses by trading the way Trader Paul seems to have-by bearing up, trading only the downside and waiting for armageddon-come up with a new plan my friend. One sided trading in this market is silly if not worse. If anyone can show me they are making more trading one end than I am trading both, show me-cuz I'm always looking to make more. Of course when you show me, I'd like those entrys and exits posted LIVE, like mine-because fantasy rear view trades are hard to cash. In short, DC, it pays MUCH more to be a trader than a bull or bear. Get paid, not bulled or beared up.